Many applicants dread answering: “What are your salary expectations?” during their online job interview.
If their answer is too high, they might turn off their potential employers and ruin their chances of getting hired.
However, if they quote a lower salary, they could end up lowballing themselves.
Negotiating a fair salary may seem tricky, but worry not. Here are some tips for answering this particularly challenging interview question.
Why Interviewers Ask This Question
Interviewers ask you about your salary expectations mainly to ensure they’re aligned with the company’s budget for the role.
Aside from this, this question also helps them to come up with a competitive salary offer that’s open to negotiations.
Know Your Worth
Coming up with a good answer to questions about your salary expectations starts with research.
This involves studying the typical salary range for the job you’re applying for, relative to your skills and experience.
Researching Your Salary Range Online
Various online salary calculators provide comprehensive salary data based on factors like experience, location, and industry you can use.
Since you’ll be working in an online work-from-home setup, look up the salary range based on the following:
- The location of your potential employer’s business
- Your location
Consulting With Industry Peers
You can also ask your colleagues and other professionals in your field regarding their salary range.
There are many Facebook Groups on work from home jobs that can give you a clearer idea about the standard rates for the job you’re applying for.
Consider Your Cost of Living and Lifestyle
Finally, calculate how much you’ll need to live comfortably in your area.
You can use sites like Numbeo to help you determine the cost of living where you’re staying.
Besides what you need to survive, consider other benefits like extra paid leaves, health insurance, maternity/paternity leave, etc. These would be part of your compensation package, after all.
Turn the Question Around
If your interviewer asks about your salary expectations early in the hiring process, you can deflect it to buy yourself some time…and to give a more accurate answer.
Do so by inquiring more about the role you’re applying for, its responsibilities, and the company. You can also ask about the other benefits and growth opportunities they’re offering.
For example:
“Before discussing my salary expectations, can I ask a few more questions about the role’s responsibilities and challenges? This will help me better understand the position and provide a realistic expectation.”
Provide a Salary Range, Not a Fixed Amount
Another tip to help you answer this question is to offer a range instead of a set figure. Doing so shows your interviewer that you’ve done your research – and that you’re open to negotiating.
Remember, your potential employer will usually opt for the lower end of your range. Thus, set the lower part of your salary range slightly higher so you have more room to negotiate.
For example, the typical salary range for entry-level online transcription jobs is between PHP 15,000-20,000 per month. In this case, you can mention a salary range of around PHP 17,000-20,000.
If Necessary, Provide a Specific Salary Amount
Occasionally, your potential employer may require you to provide a specific figure. Approach this cautiously, as this severely limits your negotiating power.
To help you propose a specific amount, consider all you’ve learned from your salary research and the interview. Use these to support your desired figure by highlighting the position’s responsibilities vis-a-vis your experience and skill set.
Going back to my previous example:
“Based on my previous/current salary of X, as well as my (your current skills and experience), I’d like to make Y.
However, I am willing to negotiate between (salary range for your position and experience) for the right fit that provides (other benefits you’d like to have).
Negotiating for the Right Salary Made Easier
Discussing your salary preference can be challenging if you go in unprepared.
Fortunately, by following the tips above, you’ll have an easier time answering the question: “What are your salary expectations?” during your interview.
That said, are you still searching for online work from home opportunities? If so, Remote Staff is here to help.
Our jobs list contains various available positions, ranging from online design jobs to online architecture and engineering ones.
So, what are you waiting for? Sign up here. Good luck!
