Money Talks
by admin on Oct.19, 2009, under Interviews
Lynne O\’Connor asked:
How do I handle questions on salary expectations in job search?
A small question with a big payoff that is high on the list for people in job search mode is quite simply, “How do I handle questions on my salary expectations?” The right approach can put money in your pocket. Make a mistake and it can cost you — not just a higher salary but perhaps even the job offer itself.
This is tricky territory. You want to know the employer is paying top dollar for your skills. They want the best value possible for every new hire they make. Hello, negotiation.
Most of us negotiate finances infrequently so it’s understandable that it’s unfamiliar and uncomfortable. It’s also true that a lack of confidence works against you in most endeavors and negotiating is no exception. So if you find even the thought of discussing a starting salary, raise, or bonus makes you apprehensive, consider yourself in good company. As a source of career anxiety, talking about money is near the top of the list.
It is not easy to learn how to put a price tag on yourself — and to do it with style. A good career coach can make a difference by turning salary negotiations into core skills you can count on. With help, you can learn to translate your value to meet the needs of your new employer and deliver the message with conviction. Then the issue of how much you cost can become secondary to how much you are going to deliver.
Work with a coach who has the perspective you need to get your strategy right and build what’s called your “value proposition.” Use your coach to practice challenging negotiation scenarios and review possible objections. Develop flexible, collaborative language and maintain a relaxed approach. Learn how to look for points of agreements, when to pause the conversation and when to offer alternatives.
Sometimes the salary question is asked right in the job posting – “Reply stating salary expectations.” Why do they do that? They haven’t met you yet. How can they possibly know how much you are worth? It could be the employer is marketing-testing their proposed salary range. Perhaps they want to limit interviews to a narrow band in their price range (provided they can get qualified candidates at the lower end).
As one strategy, you can choose to ignore the request and trust your qualifications will be compelling enough to generate a call. Or, you could cooperate and name a salary range that you’ve researched. Many Internet job boards have salary research information. Recruiters and placement agencies you are working with can be good sources of salary information. Your network of contacts may also offer some input on current marketplace rates. Another option is to add a statement to your cover letter indicating you will be happy to discuss salary in person once you have more information on the job responsibilities. Is there a perfect response? Not every time, but you can try a few different approaches to see what creates the best results.
Once you are in the door you’ll want to be alert on the salary question. Many job seekers inadvertently stumble when asked and offer a quick lowball number. Unfortunately, this answer may get etched in stone and make later negotiating tougher. After all, they’ve literally got your number.
The main rule of thumb – The one who goes first loses. So delay as long as possible without becoming aggravating. Defer the question politely, “Could we come back to that when I understand more about the job? Bounce it back to them “Is there a range set for this role?” Another alternative is to outline the research you’ve done on comparable salaries in the industry. Whenever you do mention a number ask for feedback on it, “Is that the range you had in mind?” If you are off the mark, be sure to mention your flexibility.
One exception to discussing salary upfront occurs when working with recruiters. Generally speaking they work on a need-to-know basis and may expect disclosure before representing you to a potential employer.
Overall, the earlier in the hiring process the salary question is asked, the more likely it’s designed to screen you out. Salary gains are made higher up in the food chain, not at the HR level. It is the boss’s boss who gets to make the exception and approve the increase, especially for someone with exceptional talent like you.
In any selection process two key factors need to line up for you to achieve your optimum negotiating position. When you have built relationships and mutual respect at higher levels in an organization and when they have decided you are the outstanding candidate for the job. Then, of course, you’ll want the offer in writing while you consider it.
Checking in with your coach once you have the offer is a smart move. Too often job seekers focus solely on the salary figure without taking into account other negotiable factors such as vacation, professional development, flex time, educational level, title and more. You can work with your coach to find the right approach and phrasing to address your key points. On the other hand, there are times where the better choice may be not to negotiate at all and accept the offer as it stands. A coach who understands your search priorities can help you discover what may be right for you.
Of course, all of this takes confidence, marketing and strategy. Your goal is to convince the interviewers in every meeting that you are an exceptional applicant. You want to be seen not as a cost, but as an investment. And the very best time to negotiate? When you have that written offer in your hand and they need you in the job tomorrow.
How do I handle questions on salary expectations in job search?
A small question with a big payoff that is high on the list for people in job search mode is quite simply, “How do I handle questions on my salary expectations?” The right approach can put money in your pocket. Make a mistake and it can cost you — not just a higher salary but perhaps even the job offer itself.
This is tricky territory. You want to know the employer is paying top dollar for your skills. They want the best value possible for every new hire they make. Hello, negotiation.
Most of us negotiate finances infrequently so it’s understandable that it’s unfamiliar and uncomfortable. It’s also true that a lack of confidence works against you in most endeavors and negotiating is no exception. So if you find even the thought of discussing a starting salary, raise, or bonus makes you apprehensive, consider yourself in good company. As a source of career anxiety, talking about money is near the top of the list.
It is not easy to learn how to put a price tag on yourself — and to do it with style. A good career coach can make a difference by turning salary negotiations into core skills you can count on. With help, you can learn to translate your value to meet the needs of your new employer and deliver the message with conviction. Then the issue of how much you cost can become secondary to how much you are going to deliver.
Work with a coach who has the perspective you need to get your strategy right and build what’s called your “value proposition.” Use your coach to practice challenging negotiation scenarios and review possible objections. Develop flexible, collaborative language and maintain a relaxed approach. Learn how to look for points of agreements, when to pause the conversation and when to offer alternatives.
Sometimes the salary question is asked right in the job posting – “Reply stating salary expectations.” Why do they do that? They haven’t met you yet. How can they possibly know how much you are worth? It could be the employer is marketing-testing their proposed salary range. Perhaps they want to limit interviews to a narrow band in their price range (provided they can get qualified candidates at the lower end).
As one strategy, you can choose to ignore the request and trust your qualifications will be compelling enough to generate a call. Or, you could cooperate and name a salary range that you’ve researched. Many Internet job boards have salary research information. Recruiters and placement agencies you are working with can be good sources of salary information. Your network of contacts may also offer some input on current marketplace rates. Another option is to add a statement to your cover letter indicating you will be happy to discuss salary in person once you have more information on the job responsibilities. Is there a perfect response? Not every time, but you can try a few different approaches to see what creates the best results.
Once you are in the door you’ll want to be alert on the salary question. Many job seekers inadvertently stumble when asked and offer a quick lowball number. Unfortunately, this answer may get etched in stone and make later negotiating tougher. After all, they’ve literally got your number.
The main rule of thumb – The one who goes first loses. So delay as long as possible without becoming aggravating. Defer the question politely, “Could we come back to that when I understand more about the job? Bounce it back to them “Is there a range set for this role?” Another alternative is to outline the research you’ve done on comparable salaries in the industry. Whenever you do mention a number ask for feedback on it, “Is that the range you had in mind?” If you are off the mark, be sure to mention your flexibility.
One exception to discussing salary upfront occurs when working with recruiters. Generally speaking they work on a need-to-know basis and may expect disclosure before representing you to a potential employer.
Overall, the earlier in the hiring process the salary question is asked, the more likely it’s designed to screen you out. Salary gains are made higher up in the food chain, not at the HR level. It is the boss’s boss who gets to make the exception and approve the increase, especially for someone with exceptional talent like you.
In any selection process two key factors need to line up for you to achieve your optimum negotiating position. When you have built relationships and mutual respect at higher levels in an organization and when they have decided you are the outstanding candidate for the job. Then, of course, you’ll want the offer in writing while you consider it.
Checking in with your coach once you have the offer is a smart move. Too often job seekers focus solely on the salary figure without taking into account other negotiable factors such as vacation, professional development, flex time, educational level, title and more. You can work with your coach to find the right approach and phrasing to address your key points. On the other hand, there are times where the better choice may be not to negotiate at all and accept the offer as it stands. A coach who understands your search priorities can help you discover what may be right for you.
Of course, all of this takes confidence, marketing and strategy. Your goal is to convince the interviewers in every meeting that you are an exceptional applicant. You want to be seen not as a cost, but as an investment. And the very best time to negotiate? When you have that written offer in your hand and they need you in the job tomorrow.
