Salary questions during interviews
How often does the salary question come up for you in the interview process? More so when they ask current comp cause I'm paid well below market with no bonus and working Back Office which is a substantial pay difference from Front Office roles. Some companies have wanted to know at some phase during the interview, others I didn't hear anything at any stage of the interview process.
How do you strategize in answering this question when it comes up? I don't want to be lowballed in another role because my current employer only wants to pay me so little.
I would just say what you make currently, perhaps inflated slightly if you feel so inclined. I would also say that you are making significantly below what you would expect to make in the new role because of the responsibilities associated with the new role. Then I would say that the main priority out of your career change or move to a new role is not comp related, but moreso based upon developing certain skills and obtaining certain responsibilities associated with the new role. Generally moving from BO to FO will require an increase in workload so making what you make now for 40 hours doesn't really matter when you're going to be working 60-70 or 80-100 in the new one. Hope that helps.
I'm hoping that this works well. My motive for wanting to change my job is related to my roles and skills, not comp-related, which you pretty much got spot on and this typically answers why I want to leave my current job. And once interviewers have heard the response to that question I hope that salary doesn't come up because my current salary is not going to be a good benchmark for the front office roles I'm looking for.
This question will inevitably come up. If you make below market I would dodge the question as it then gives the recruiter a proxy to lowball you with. Don't sink your own battleship. I dodge it in a few ways:
1) "Well I've made a lot more and a lot less in various positions. As you know, pay fluctuates based on company. Since you're searching to fill this role I'm assuming you've budgeted a salary range for this position, what budget range have you estimating to set aside?"
2) "I'd rather not get into pay right now, we can get into that after we've decided we're a good fit for each other."
3) If you've researched the position "The market rate for this role is between X and X, so with my current experience, skills and previous successes I'd bring to your company I would expect to make near the top of that range. What does your current pay band look like?"
The goal is to get them to tell you their range. Flip the question on them. They're asking you a question that they can use to sabotage you with later, don't make it so easy on them. They aren't your friends.
Okay, I'll definitely try those and see how they work, and i'm sure the ones who are adamant to get an answer out of me are not worth moving forward with?
What if they're asking for it somewhere on the application? I've seen a few jobs require a number, and some will even say "please do not write negotiable." Do you think at that point its not even a good company to move with if they're so interested in your current salary?
Should I ask about the salary number during the first job interview? (Or first phone call to come in for an interview) (Originally Posted: 10/30/2017)
I have been looking for a job for a while now and every time I get an offer, it's a lowball offer and I end up saying no to it. These recruiters think they can take advantage of young people.
During the first interview, should I ask what is the salary for the position? Or is it to soon? I don't want to go through the long process of interviews and tests and then finally getting the job a month later only for them to give me a lowball offer and me rejecting the offer.
If a recruiter calls me to come in for an interview and asked me prior the interview if I have any questions, should I ask what is the salary for the position? I think knowing what the compensation is and deciding decisively if I am going to do it for that salary would save both parties a lot of time and effort in the long run.
I give salary ranges before coming to the in person interview (to HR/recruiter,etc) and then do not bring up salary when meeting with hiring manager.
So make sure you're in the ballpark first, make a good impression, then give yourself the ability to negotiate when a number is sent in your direction.
Normally, the job description itself should have this information. Companies hiding this information are actually more likely to bargain for lower salaries.
If you are getting a lot of interviews, then in order to keep yourself from wasting time on the ones that do not meet your salary expectations is a good idea.
During the interview, if the recruiter himself or herself asks about your salary expectations, politely ask them their idea first. If they go around your question and ask again, then honestly provide them your number.
If the interviewer does not ask the question, it can depend on the idea you h ave so far about the company. If you know it is a startup, then you may ask at the end of the part where you ask them the questions that you have. If you feel it is a bigger company with a respectable budget, it might be harmless to suppress the curiosity.
However, in general, I would not recommend the initiation of this discussion from the candidate. There are different kinds of recruiters and while some are open minded, others are not.
All the best!
Aishwarya Pandey Hello Job in Paris
Compensation during interview (Originally Posted: 05/26/2009)
I screwed up my interview today. The first question HR asked me was "so how much are you looking for?". I tried to dodge the question but she kept pressing me. I finally spit out a number that was probably below market value. After I said it she just talked about how they give 28 paychecks and provide full benefits etc..
I am going back tomorrow to meet with VP of Finance. I expect to get the offer. Any advice to recover from this?
why did you not state market value?
don't bring it up to VP of finance unless he asks
but if he does, try to say 'i've heard from other friends at similar places making xyz'
You should have said you would get back to her or you're not sure. Or if you have to guess, shoot a little above market value so you don't get screwed by too low of an offer.
I know I was caught off guard and just told her what she wanted to hear. I said 40k when I really will need 50k+ to accept an offer. You think I can recover or do they think they have me locked in at a low pay scale?
Say you changed your mind. You have other offers and you won't accept lower than xx amount
Why the fuck are you giving advice?
OP, don't listen to this clown -- spitting out the above ultimatum will only irk them.
while i agree you shouldn't listen to his advice.. GSmonkey you are one of the biggest fags here... stfu
There is one simple rule to interviewing: don't lie (unless you have to or have a lie prepared for a specific question), especially when it comes to salary expectations.
It sucks that you said 40K, but hopefully you can learn from this experience. Wait and see if you get an offer, if you do then you can negotiate. There is nothing you should about this right now. Unless this is a very small shop you will most likely receive the same salary as other analysts.
Compensation Questions in an Interview (Originally Posted: 09/11/2012)
That awkward fill in area on a job application -- Compensation. Do you guys fill it in with an answer? Leave it blank? What about when it comes up in an interview?
I had an interview the other day where I was asked my compensation by the interviewer and I told him what it had averaged out to and later on asked if there were any other questions or differences about my application for the job. He told me that compensation was going to be very different in this new role (obviously haha with base and bonus -- oh 'normal' jobs!) but the compensation all in would still be very solid despite being 1/3rd less than what I had averaged out over the past 5 years . I quickly assured him that I had no issue with taking the pay cut as it was down the career path that I was very interested in taking, and knowing that I was making a bit of a career shift that I would be compensated slightly lower but I had no issue and I was more than excited about the role. Did I handle this well/right? Anyone else have other thoughts about how to navigate this question when it comes up -- does the compensation question impact anything really or is it for mere data gathering? Thanks!
frontpage frontpage?
I'd say you did. More than likely they are interested but wouldn't push forward with someone who is going to demand that they be paid a premium to what the position says. You can't go wrong expressing keen interest in an interview.
Out of curiosity why are you leaving a job where you made 1/3 more than this one? In one statement you say "slightly less" and the next you state it averages a third less. A third of even $100k is a lot of money. Is the outlook of future income streams bleak in your current industry?
lol left prop trading where i did well but was very variable and was gonna do MBA but shifted (at least for now) and exploring any ability to lateral over into Asset Management/wealth management roles dealing with either product specialist/product management type roles or portfolio management-esque roles for the institutions and the like -- stuff that hybridizes my background and experience. i guess the stability and 'career path' kind of transitions over to one? the average comp i had was also pretty front loaded and most recent years the compensation has been roughly around the same as I would be offered if I received the new job
Depends on your situation. It's hard to say without more details about where you're coming from, where you're going, why you're moving, what other options you have, etc. It's hard to get out of answering when they straight up ask you your current/historical compensation, but you can try to deflect it by saying something like, "I'd rather save the compensation discussion until after we've determined how well my skills match your needs - I'd rather the discussion be about that than about compensation." If they press, you pretty much have to tell them. At that point, the compensation discussion has started, and you can't just leave it there for them to anchor the negotiation. Your interviewer was pretty good - he anchored the negotiation to the number he wanted without getting any pushback from you. Depending on how much you wanted or needed this position, maybe you should have pushed back, e.g. "From what I've seen, the usual range for someone with my skills in this type of position is (salary you think you can get) - (higher number that is still somewhat reasonable)." However, you have the details of what position you are in with this negotiation, so you be the judge.
Did you leave Fuqua?
I always say: "I expect to be fairly compensated for my work. I feel confident that if we determine I’m the right person to do the job, we can reach an agreement. To me, it’s the job itself that is most important."
Just remember, the 1st person who mentions numbers loses.
Also, did you leave Fuqua!!????
yes lol i have an opportunity to go work at a start up in brazil doing some of the things im big on and love (food and wine) that i figured now would be a cool opportunity but im also applying to some places to see if i can lateral over without needing an MBA
Why the change of heart?
What... You left Fuqua? Didn't you post something about how awesome your experience was so far? Did I miss something? Can you expand on this story? How about some details?
lol ill be doing a wso interview sometime but gonna wait a little while for it and figure out if im staying in NYC or trekking to brazil for a bit. no kids no wife and entrepreneurial opportunity in an emerging economy with great culture, women and food or being able to lateral over directly into chosen career path -- taking a year to feel those things out
lol ill be doing a wso interview sometime but gonna wait a little while for it and figure out if im staying in NYC or trekking to brazil for a bit. no kids no wife and entrepreneurial opportunity in an emerging economy with great culture, women and food or being able to lateral over directly into chosen career path -- taking a year to feel those things out
How to avoid the salary question? (Originally Posted: 03/11/2011)
Okay, I am preparing for an interview and I have been told that they ask about previous salaries, and there is no way of escaping that question and they do press for a number.
So, I'm thinking of saying something along the lines that I am expecting a competitive salary that reflects my experience and education... any other ways of wriggling out of it and make them give me a number rather than me giving them one?
Also in my previous job, I was hired on a base salary of $50,000 and about 3 months into the job, my manager called me into his office (I fucking thought I was getting canned according to Monkey Business) but instead I was given a 33% increase.
So, if I had to give them a number, would it be better if I said my previous salary was $67k or would it be better to say that I was given a 33% boost after 3 months
PS: The position I am interviewing for is at MS/MBA level.
tell them whatever the ending salary would have been so the 67k number
yeah--i think avoiding the question would make them think something like "wow he must have been paid shit" or something like that...i would just be honest with them, i think its generally the best policy...
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