Proper preparation for this question is critical before any interview. If your answer is too low, you leave money off the table and potentially damage your future earning potential. If your answer is too high, your interviewer may elect to exclude you from the interview process going forward.
If you know what you feel you're worth and you're comfortable with a number, your only preparation step may be to ask around or review job descriptions from competitors to ensure your requirements are in line with the current state of the industry. If you're new to relationship banking or moving into a new role within relationship banking, you need to do your research. Here are a few helpful sources to try:
- Websites that provide a pay range based on your location and role
- Job descriptions for similar roles within states that are required to disclose salary information such as Colorado and New York (be sure to adjust the number for cost of living)
- Search the Internet for the salary at the bank you're interviewing with and other banks in your area
- Ask the recruiter you are working with what the salary range is for the role (only if they haven't asked you your requirements)
