Salary Expectation: What to Answer and How to Define Yours

Salary expectations refer to the amount the candidate expects to receive in the job or position applied for. What is your expected salary? Sometimes this may be the question that scares many people. Here come some tips on how to answer and define yours.

If there is one question that usually does make the candidate very insecure and indeed he or she does not know how to answer in the selection process, it is precisely this: "What are your salary expectations?"

At this time, a lot of questions come to mind, such "what if I say a value that is too low" or "what if I say a value that is much higher than what the vacancy is offering."

But what is the best way to answer this question?

That's exactly what I want you to know how to answer when you reach the end of this article so that you can show your value to the job market.

Let's go?

What is salary expectation and what is it for? 

But why do companies ask this question? Wouldn't it be easier for the recruiter to say in the first contact what kind of salary is being offered?

It really would be easier, but in practice, what happens is that there are some variables the company needs to take into consideration.

Many companies work with a salary range, showing the minimum and maximum amount that can be paid to a professional in that specific position.

This way, the company can assess the candidate's level of professional experience , qualifications and can assess which salary value within its range is most appropriate for the chosen professional.

Other cases are that the position is new in the company, and it is there when the salary definition can be made in relation to what the candidates are expecting against their professional experience, so that the company can define the wage to be hired.

Now you have an idea of what the question about salary expectations is and what it is for. But how do you define your market value?

Mistakes when defining your market value

One of the biggest mistakes a professional can make when looking for a new job is not knowing what their market value is , that is, what their salary expectations are.

Not being clear about your value can lead you to give superficial and insecure answers during a job interview , and it is very likely that the person conducting the interview will notice. This can cause you to lose credits in the selection process.

Furthermore, having a salary expectation that is incompatible with the market is another mistake, as you may have an expectation that is much higher than what the market is paying or much lower, and this will reveal that you do not know what your market value is.

Another mistake is wanting to apply for a position with a salary much lower than your last salary . I understand that you need to return to the market, but it is unlikely that the company will hire you to earn much less than you were earning or for a position well below your last position, even if you say that it is not a problem.

What problem does the company see? The employee will start looking for another job that pays better, which is why companies end up not hiring.

Be careful with superficial analysis, such as worrying about gross salary, without analyzing the other points that make up the remuneration.

Put the benefits that the company offers and increase your salary expectation with that. It could be a tad below from what you expected, but the benefits and career development opportunities knock it up a notch.

Another mistake might be the fixation of your salary expectations without consideration of your personal costs because, if your cost of living is x and you request x - 1, then surely at the end of the month it is most likely not to close the bill and you will be dissatisfied with the salary you accepted.

I also see many professionals who do not consider the net amount to be received .

There are several websites on the internet where you can run a simulation and identify the gross salary amount you need to earn to get the appropriate net amount to cover everything you need to support yourself.

Having clarity about what you shouldn't do makes it easier to understand how to define your market value.

Strategies for defining your salary expectations

The first thing you need to do is understand your market value. And how are you going to find that out? By doing market research!

You are your product and you need to know your positioning and market value. You can search the internet for websites that provide salary information by job level, company size, and city or state.

Another strategy is to look at your current or last salary. If you are employed, you may have some leverage and bargaining power, so you can even ask for more than your current salary. On average, you can consider 10% to 30% more than your current salary.

Now, if you are available in the job market, you may need to reduce your salary a little, and here it is worth considering an average of between 10% and 30% less than your last salary. But always take into account the salary research you did.

So, to recap...

• Know your market value, be clear about how much the market is paying for a professional like you, with your knowledge and experience;
  
• Look for opportunities that are aligned with your salary expectations and job level;
• Be open to salary negotiation and take into account the benefits and career development opportunities within the company;
• Identify your cost of living and what is the minimum acceptable salary to support yourself or your family;
• Calculate the net amount to be received. It's true that there may be other discounts such as transportation, food, health insurance, but taking into account the biggest discounts, which are taxes and the guarantee fund, you will already have an idea of ​​how much you will receive.

Now you have enough information to define your salary expectations. When asked what your salary expectations are, you will answer with complete confidence and security as follows:

“ My salary expectations are around x and I am open to negotiations based on benefits .”