Nontraditional Jobs For MBAs

How to Talk (Or Not Talk) About Salary in Job Interviews

“What are your salary expectations?”

It’s a question that will inevitably be asked in every interview. It’s also a question that may cause anxiety and uncertainty for applicants. Answering this question correctly is key. If you go too high, you may risk the chance of pricing yourself out of the job. If you go too low, you might end up with a salary that you regret down the road.

Amy Gallo, a contributing editor at Harvard Business Review and cohost of the Women at Work podcast, recently offered a few tips and strategies on how to approach answering this question the right way.

REDIRECT THE CONVERSATION

There are many reasons why you may not be ready to answer salary questions during the interview.

“Perhaps you suspect that you’ve been underpaid in the past and anchoring with your previous or current salary would work against you,” Gallo says. “You don’t have to give a number. You have the right to protect your own interests.”

If you aren’t ready to give a number just yet, there are a few ways to redirect the conversation.

According to Tori Dunlap, a finance expert and founder of the organization Her First $100K, applicants can simply say something along the lines of this: “I actually don’t understand the full scope of the role at this point in the process to accurately price myself, but I would love to know the budgeted salary range.”

Additionally, Dunlap says, it can be helpful to move past the question and refocus the conversation on your qualifications:

“I’m still trying to fully understand the role and what’s involved. I’d love to continue talking about my qualifications and why I think I’m a fit for the position.”

OFFER A RANGE

If you’ve done your research and feel prepared to give a number, it can be helpful to offer a salary range.

“To go this route, you’ll want to do your salary research before your interview so you have a realistic idea of the typical salary range for the role and can provide an informed response,” Gallo says.

Gallo recommends doing thorough research of job listings with similar positions, and using sites like Glassdoor and Salary.com.

“In some places, employers are required to include a salary range on the job posting,” Gallo says. “That will give you the best sense of what they’re willing to pay, and will allow you place yourself within that range. You’ll want to compare your experience and qualifications with the job description to determine where in the range you might fit. “

Sources: Harvard Business Review, CNBC

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