One of the worst trends in interviewing that I’ve seen in the past decade or so is that compensation is discussed upfront. I don’t know when this started to be part of the process, but it used to be a big no-no some time ago. Things have changed, and I can see the importance of getting that straight out of the bag. If there is someone who can’t move due to compensation, there is no reason to pursue.
Get that money, folks!
Unfortunately, I think that cuts out a lot of qualified candidates and is probably not the best way to do things, but, in order for you to properly handle this question in your interview, phone or in person, here are 3 ways you can discuss compensation and at least start the process off on a good foot.
Get Them To Quote To You
This is tough. I hope you have better luck with it than I ever had, or have heard anyone else has had, but they say whoever mentions a number first loses. When it comes down to it, an HR person will be very interested in getting the lowest possible number.
When It comes to metrics, or down to brass tacks, guess what? Lower is better, from their perspective. Of course, you do not want to be reduced to that number, you know what you’re worth. Or maybe you don’t, and you need to find out, but this is something you have to communicate. If you can get them to get a range out first, it’s perfect to know what you’re working with.
Then you can figure out if it’s going to work with you, or if you need to move on to the next one, or how you can make it work for you. Try this, ask up front, search around, check http://www.glassdoor.com or http://www.indeed.com salary information and maybe you can get a hint at what other people are reporting and that might give you the information you’re looking for.
Typical Rates For Industry And Experience
This is one where you can rely solely on what you find on websites out there like http://www.glassdoor.com or http://www.indeed.com, or personal connections through your friends and Facebook. This is not really talking to anyone who’s going to pick or negotiate the salary that you’re going for, but that is going to be expected for the experience level, the number of years, that you’ve worked in this industry and the position that you’re applying for.
These are ranges of expectations that you have to work inside of if you seek that position in that industry. Now granted, if you’re MacGyver and have 800 degrees and are that phenomenal, you are probably going to be able to do quite a bit more on the negotiation side, but the start, without any justification, is going to be within this range. Find it out, and make it work for how you answer this question and then add on the details.
Be Honest And Fair
Really figure out what the industry average is, and keep that number in the back of your mind. Then find out what you actually need, not wants, not the new PlayStation 4 or whatever you’re working on but what you actually need: Bills, car, kids, schooling, education, ok maybe a vacation in there.
Get your base number down, on what you need to get done over the course of the year, add 25% on top of that and add another $5,000 for transportation and see where you’re at. If it’s grossly under what is offered, then awesome. What’s offered will be great for you. If it’s grossly above what is offered, then that job is not going to work for you unless you can do some masterful work in negotiation up to that.
Add some margin into this, 25% or something like that, so you aren’t cutting yourself short and you do have room for growth. Make sure that you have your baseline number in line so when you hear a number, or find out a number, you at least know where you fit on that scale. Very important to know, so you don’t sign up for something that is not going to work for you when you probably need to make a quick decision.
Get What You Deserve, Okay?
Three ways to discuss compensation during a job interview process are to get them to quote first, to find the typical rate for the industry and position that you are going for and seeing how that fits in your plan, and finding out what you really need, maybe some wants on top of there with some padding.
And then figure out how this complete, 3-part story fits into the interview process and where you want to go with your career. Keep these things in mind, own that next interview, and make some money will you?
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