MockQuestions

Payroll Specialist Mock Interview

Question 31 of 34 for our Payroll Specialist Mock Interview

Payroll Specialist was updated by on October 28th, 2022. Learn more here.

Question 31 of 34

What are your salary expectation?

"I am looking for growth in terms of responsibilities as well as in monetary terms. Through my research I see that the market average for this role, for someone with my years of experience ranges between $X nad $X per year. I am also interested in discussing your overall compensation offering in addition to the base salary."

Next Question

How to Answer: What are your salary expectation?

Advice and answer examples written specifically for a Payroll Specialist job interview.

  • 31. What are your salary expectation?

      How to Answer

      In many states, it is now illegal for hiring authorities to ask about your current earnings. For that reason, a vague question regarding your expectations will give the interviewer a solid idea of what you are hoping to earn without crossing any ethical lines.

      Typically, when you change jobs, you want to see an increase in wages. Most interviewers aim for a 7-15% increase for each time they change jobs. This range offers room for negotiations with the new company. This percentage increase reflects economic inflation, unique skills you bring from the last time you joined an organization, and an increase in responsibilities.

      Salary is an important conversation to have, and now is the time to share your desires and expectations openly.
      Be open, and honest. Transparency is the best choice when salary-based questions arise.

      If you are newer to your career, or the area, and are unsure of what a fair ask may be, there are many reliable salary calculators available online.

      If you do not have salary expectations, it's time to do your research. The more prepared you are with data on fair pay for the market the more the interviewer will respect you and your stance.

      1st Experienced Example

      "I am looking for growth in terms of responsibilities as well as in monetary terms. Through my research I see that the market average for this role, for someone with my years of experience ranges between $X nad $X per year. I am also interested in discussing your overall compensation offering in addition to the base salary."

      1st Answer Example

      "As I am new to my career and this industry, I am happy to negotiate my earnings based on your typical salary for this role. From my research, I see that the average Junior Payroll Administrator in the Chicago area earns an annual salary in the $45K to $50K range. I am looking for compensation comparable to the responsibilities of the role. I trust the overall compensation package will be fair, including base salary and other employee benefits. Could you share with me the compensation plan for this role?"

      Written by Rachelle Enns on March 6th, 2021

      2nd Experienced Example

      I make xx now including my annual bonus and I am seeking an increase of at least 10% in order to consider changing jobs. I have also reviewed your benefits and your 401(k) match is the same as I have now but your medical insurance would cost me $25 more per pay period which equates to $650 per year. This position also requires overnight travel for approximately 10% of my time and that takes me away from family and friends and needs to be a factor in my decision making. So I am seeking xx for this role but I am open to discussion, especially if there are other perks or benefits that I am not aware of.

      Written by Carrie Nelson on October 28th, 2022