You decided to switch jobs and started applying. Then you encounter the field of, sometimes mandatory, expected salary. And you wonder what number you should input. Too high a salary would result in fewer interview invitations if it exceeds the budget, but if you put a realistic salary, you may not get the salary jump you expect when changing jobs. Here are some tips if you have these questions in mind, or for your future job hunting.
- Do market research :
- Regardless of your current salary, research the market value for the position you are aiming for. You can find websites that show average salaries by role, seniority, company, and industry. Some websites might require your input, which will be published anonymously. There you can gain insights on which range you should target. Except for some countries where the salary of the next job depends on that of the previous job, you should benchmark based on the market value.
- This might be a controversial opinion, but I would advise you to apply for jobs that are not attractive to you as practice at the beginning and test out your market value. Through your interviews, you might find out that your experience and skills are highly evaluated compared to market value, or too stretched. Then adjust your salary expectations accordingly
2. What to input in a job application
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- If mandatory, you can either
- Put 0 : By inputting 0, you signal that you would be flexible or up for negotiation, but you might find out in an interview that the budget does not reach your salary expectation.
- Put your expected salary range
- Put the minimum amount of the best possible expected salary.
- If not mandatory, it is up to you. If you are comfortable and want to avoid the possibility of wasting your time, then I would advise you to put ii) or iii) above.
- If mandatory, you can either
3. What to answer in a job interview - “What is your salary expectation?”
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- Ask for the budget: Usually companies have a budget for each role, which they could stretch if they really want to extend an offer to you. But it is nice to know what they can afford.
- Answer with a salary range: State your expected salary range. The minimum expected salary is the minimum amount you would accept the offer, and add a range to the maximum realistic amount you would like to get. If your expected salary is within the budget, it is a good match. If your minimum amount exceeds their budget, listen to what they would say. They might say they could be flexible.
- Answer, “I would like to consider when the offer is made”: This signals that you are confident of your value and are up for negotiation.
How to negotiate salary : Check out a blog (to be published) solely focusing on it because this is such a big topic.
When you want to pivot your career by compensating some criteria such as scope, seniority or salary, in the end, it is very important to have a minimum amount you would accept. If companies offer less than that, it is simply not a good match, and remember there are other companies that offer better salaries for your experience, skills, and potential. Of course, salary is not the only criterion to accept the job offer, but it is the main compensation you would get and you need to be careful in choosing the offer.