Goldman Sachs HireVue Mock Interview
Practice 30 Goldman Sachs HireVue questions covering video responses, behavioral scenarios, and financial thinking.
Question 16 of 30
What are your salary expectations?
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Kevin Downey has an extensive background in business management, recruiting, branding and marketing. He's volunteered his career coaching services at job fairs, lecturing on interview techniques and crafting winning resumes and cover letters.
Goldman Sachs would like an idea of what you want to see in a job offer. They are also curious whether you've received other job offers from other companies you're interviewing with, and what your priorities are. The goal of your response is to show the hiring managers that you know what you're looking for, and that you're ready to support your professional worth by backing it up with well-founded research and quantifiable data. To do this, you'll need to be fully aware of what Goldman Sachs might be willing to offer you in this position. So substantiate your professional worth by showcasing the homework you've done on everything Goldman Sachs, from the values to their business principles, to their benefits, and how they compensate their employees.
"From waiting on an offer to deciding if you will accept; our recruiters are here to help. Take a step back and think about what's really most important to you. The overall culture of the firm, what are the long-term opportunities, whether that's mobility, different business at the firm, and what those opportunities look like over the course of a long career. Your compensation will be reviewed annually and may consist of salary, discretionary compensation, and certain local allowances, where applicable. Compensation is determined by a number of factors, including the firm's performance, divisional performance and individual performance. We spend a great deal of time ensuring that people are compensated appropriately and we aim to provide highly competitive pay levels over the long term."
Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
Overall, be open and honest. Transparency is the best choice when salary-based questions arise. For you, salary may not be the most crucial factor. In addition to compensation, there are many other factors in a fulfilling career. These other factors may include:
- Work-life balance
- Amount of travel required
- Overall medical and health benefits
- Additional perks such as car allowance, cell allowance, or a spending account
- Your level of interest in the industry
- The amount of vacation time offered
- The type of clients you would be working with
- The office location
- Future career growth opportunities
- The size of your new team or department
- The overall company culture
Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
Before forming your ask, take your time to list the most important factors to you when considering a new job. Then, do your research. You'll want to find answers to a few essential questions:
- How competitive is the job market for this role?
- What's the market range for this kind of role in the finance industry?
- Does compensation vary geographically?
- What financial organizations pay more than Goldman Sachs?
- Does Goldman Sachs have a reputation for paying above-market value?
When you deliver your compensation ask, lean on your skills and accomplishments as justification. It's compelling for a hiring manager to hear about your achievements versus only saying that you're worth every penny because that's the going range in the industry.
If you are providing Goldman Sachs with precise compensation numbers, offer a range so that you leave room to negotiate.
Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
"I am currently making 98,000 per year with two bonus opportunities based on company profits. I am looking for a compensation plan aligned with the role that provides an opportunity for growth. I look forward to discussing the details of this role so that we can determine a fair compensation plan."
Kevin Downey has an extensive background in business management, recruiting, branding and marketing. He's volunteered his career coaching services at job fairs, lecturing on interview techniques and crafting winning resumes and cover letters.
It's not recommended to discuss pay negotiations in a recorded assessment video, so avoid providing a specific number or pay range to conclude the negotiations. Instead, prove your professional value with quantifiable data. If you feel comfortable, share your current salary and benefits, and how they compare to theirs, and where they may be lacking. Include your anticipated earnings from your next pay review as well. If your current employer offers you incentives to stay, it's a testament to your professional value and worth sharing. Consider other factors that affect your cost of living and determine if they should be included. Lastly, wrap up by sharing your future career goals for the next year or two, emphasizing your qualifications, and expressing your interest in continuing the discussion face-to-face.
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