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These kinds of questions are asked to find out if the interviewers can afford to hire you based on their budget and the range that they wish to offer.
They want to ensure that your expectations and the range provided by the company are aligned and you are satisfied with it.
It is very important to know your worth while answering these questions especially when your expectations are more than what they are expecting to provide.
You do not want to come across as a money-minded person nor do you want to come across as a saint who is happy with being underpaid.
Also, this is the part where your negotiation skills also come into play.
Sharing a couple of frequently asked salary-related questions in the job interview along with tips to tackle them.
1. What is your current salary?
This question is asked to make sure that the money that you make in your current position falls within the budget that the interviewers want to provide you with.
• Try your best to avoid telling your current salary.
• In the current hiring market, companies do not add anything more than 15%-20% of the current salary.
• Only in some cases where you are found to be a perfect fit after excelling in all the rounds of the interview, the companies would be willing to offer you more hikes. Some companies have a specified range dedicated to a particular position. However, the job of the recruiter is to hire a candidate who can do more at less cost. Hence, disclosing your current income might land you in an unfavorable position.
Some tips to answer this would be
1. Research the salary provided by the company for that particular job role either by checking on websites like Glassdoor, or Indeed or by connecting with people working in that company on LinkedIn.
2. Avoid stating your current salary.
3. Ask the interviewer what range the company is providing for the role.
4. Do not lie.
2. What are your salary expectations?
You have to answer this question carefully as you do not want to get underpaid for the job role at the end of the day.
Some tips to answer this question:
1. Research the salary range the company is providing for the position.
2. Try to get a range from the interviewer and see if you are okay with it. If the interviewer still insists on you providing a number first then give a range that you are looking for.
3. You should be ready for negotiation, hence consider a range that you are okay with even if salary gets negotiated.
4. Do not simply blurt out a range. Explain why you deserve it.
