One of the stickiest questions to answer when you are seeking a new position are the ones surrounding your salary requirements.  Benefits like health insurance and other perks i.e., bonuses, car allowance, stock options, cell phones, laptops, etc., will be important to your decision as well.  Yet, it is the base salary decision that becomes the foundation upon which all future raises, promotions and bonuses are based.

Consult with a trusted advisor, recruiter or career coach on your specific situation, however here are a few pointers to help you to ace the question and yield your desired outcome.

First do some research and know your numbers.   Include the salary range for a professional with your title, in your targeted geographic area, and with your overall experience and responsibilities.  You can obtain that information absolutely free from websites like Payscale.com, Glassdoor.com,  and Salary.com.

Salary negotiations start when you apply for a position by submitting your information into a corporate website. These applicant tracking systems ask you to state salary history which may place you at a significant disadvantage.  Many people respond by automatically providing their base salary in these systems. Caution...it will become the basis of any ensuing salary discussions, leaving you little room to negotiate. If you must enter information in these fields, I suggest placing XXX’s or several 9’s in these fields or if possible, leave it blank.

According to a 2016 Robert Half report, “U.S. companies are offering increased starting salaries, at an average of 10% higher than a person made at his [or her] previous job.” 

So, how do you "ace" the salary question?  Here are three ways to successfully respond:

• You are asked: "What are you currently making or what did you make in your last position? "

Absolutely be prepared for and practice the response to this question.  Know your desired salary range based upon your research.  You really want the interviewer to state their salary range first.  Your response is that the position you are discussing is different from your last position in reporting, title, role requirements, expectations and responsibilities, etc., then ask the interviewer…what is the salary range for this position taking into consideration my qualifications and background?  The interviewer will either tell you the salary range or ask you again what you made in your last position.

If the interviewer insists on you answering their specific question, and you are asked about your last or current base salary a second time, simply state what your research has shown.  Example: “Research data indicates that the salary range for a position like this is in the range of  $_____”.  Then state your base salary in your current or last position and let them know the salary range you are seeking (give yourself a minimum of 10% increase.

• You are asked: “What are your salary requirements?” 

This question is easiest to answer when you’ve done your research and you’ve practiced your response. An example of your response can be “I am interested in knowing what salary range you think is fair for someone with my qualifications and experience.”  It is important for you to obtain their salary range first, because the organization’s number may be higher.  If you are pressed to give your salary requirements first, then state your desired base salary, giving yourself at minimum a 10% raise based upon your research.   

• What’s it going to take for you to start working for us? 

This is my favorite question by far! It is usually asked after a series of interviews with a company and indicates a sincere desire to hire you. Congratulations!  You are at the end of the hiring process with this company.  It’s best to ask the decision-maker to make an offer that he or she thinks is best.  The offer can be written or oral.  Then, you agree to consider the offer and discuss it with your family.  Once you receive the offer letter, you are ready to analyze base salary, benefits, bonuses, stock options, vacations and any additional company perks. The best business etiquette is that you’ll get back to the decision-maker within the week with a decision to go forward or a counter offer.  Your counter offer should have no more than three items for the decision-maker to consider to include base salary.  A long list of items may have your new leader reconsidering their offer.  Remember to do your research and be ready to counter-offer by asking for more than the initial offer. 

Salary discussions can be tricky and for some a little unnerving, because many people are afraid to negotiate more money and benefits/perks…However, by the time you get to the final interview stage, most often the decision-maker is sincerely interested in having you join the team. Remember to only negotiate with the decision-maker, s/he has the power to make it happen. They will do what they can to get you to say “yes”. 

Share your thoughts on this topic and if you like this article, please click on the “like” icon and share. For more info: www.elvabankinscoach.com or elva@elvabankinscoach.com

Elva Bankins Baxter is a Master Coach who has a passion for partnering with business professionals and corporate leaders to provide tactical and strategic coaching solutions to improve business results.  As a seasoned executive leader, she has an extensive background in executive search, career transition services, redeployment, leadership competencies and executive coaching.