What are your salary expectations?
Asking a candidate about their salary expectations is a good method for evaluating their experience and professionalism. They'll assess you for your etiquette, as well as whether your expectations are unrealistically high, far undervalued, or within a realistic range. It also stands to inform them of your communication and negotiation skills, which are desirable qualities in a candidate. Lastly, it explores how familiar you are with what they advertise they offer in the realm of compensation and benefits.
"Currently, I earn a base salary of 45,000 per year plus a potential 20% annual bonus. Last year my earnings were 52,000, and my current employer has offered me twice the increase if I chose to stay with them, even though it doesn't align with my career goals and aspirations. I am looking for career opportunities, consistent and measured opportunities for growth, and compensation that is aligned with the role and provides an opportunity for growth."
"We take care of our employees. At Maersk, we create the right environment for our employees and ensure that we select the right candidates, based on merit, skills, and personality. Your base pay is at the centre of your rewards. It's based on market value and increases with sustained high performance as well as your skills and capabilities. We also offer bonus plans relevant to your role and aligned to our goals, allowing you to share in the success you help create. Our core benefits include life insurance, medical care, long-term disability, retirement savings, paid holiday, and more."
When establishing your professional worth, spend time preparing before your interview. Start with your current earnings, considering your market worth and flexibility. Next, list all your current benefits and their annual value, taking anything into consideration which lowers your cost of living and equals income. Evaluate where their benefits exceed or fall short of what you currently receive. Present this information when the topic of salary is broached in an interview, your current wage, benefits, and annual value, and propose your projected salary over the next year. Allow the interviewer to make their initial offer. Align your proposal with their offer and adjust your number accordingly, and consider negotiating other values of professional worth, such as title or clear timeframes for when you'll be promoted or advanced within their company. Be open, realistic, and honest.
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