What are your salary expectations for this position?
The hiring managers at Morgan Stanley would like an idea of what you want to see in a competitive job offer. The goal of your response is to show the decision-makers that you know the compensation you're looking for and that you're ready to support your compensation request with research and facts.
Overall, be open and honest when speaking about salary and compensation. Transparency is the best approach when salary-based questions arise. For you, salary may not be the most crucial factor when considering a career opportunity. 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/customers you would be working with
- The office location
- Future career growth opportunities
- The size of your new team or department
- The company culture and reputation
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 financial services industry
- Does compensation vary geographically
- Does Morgan Stanley 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 vs. only saying that you're worth every penny because that's the going range in the industry. If you are providing Morgan Stanley with precise compensation numbers, offer a range so that you leave room to negotiate.
The average HireVue interview takes approximately 30 minutes to complete. This one-way video interview typically includes 3-5 questions. Depending on the HireVue parameters set by Morgan Stanley, the asynchronous interview platform will generally give you 30 seconds to prepare a response and up to 2 minutes to answer each question. It's important to note that HireVue stops recording as soon as your time limit is up, so it's better to run under time than overtime.
"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."
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