One of the hardest telephone interview questions to answer is any question surrounding income. It's easy to look either greedy or short of dignity. What are your salary requirements for this job? This is definitely one of the most difficult phone interview questions for several reasons. Put yourself too low and it tells the company they can get you for cheap because you do not know their pay structure and the marketplace. Price yourself too high and you could have cost yourself an excellent job. There are many points to review or look at on this issue:
1. What is the going rate in the industry? If you will be breaking in to a new field you may not know the pay range for this position. Use your friend network and take advantage of social network sites such as Linkedin or Facebook to make use of the power of the gang to your best advantage. Through this expanded web of contacts you might find an individual involved in that industry or ideally at that specific company who can give you a good idea of the pay range. If you're able to hook up with an insider be sure to ask specific questions about corporate culture, company performance, advancement opportunities and other issues of signification to you.
You can try a search of similar positions on major job posting sites like Monster or Workopolis. Similar positions may come up in your search. If you’re working with a personnel agency they should already know current salary levels. They also will be incentivized to get you as high of a pay rate as possible because they are paid on a share of the salary you have accepted.
2. Is the job in another city? If the position you are interviewing for is in another city, have you compared standards of living? A $60,000 yearly salary gets you one standard of living in Fargo and another in Manhattan. These are the kinds of things you seriously need to think carefully about when considering the question. A wrong answer here could put you the tricky position of not being able to afford the new location.
3. What are the extras? How indulgent are the company annuity and benefits plans? How many weeks of vacations do you get annually? Are there profit sharing plans, bonuses and stock options? For every single one of those reasons and more you aren’t fully prepared to answer that question while in the interview. If they ask you what you want, be evasive by saying your concern at the moment is too discover more about the company and you like what you have seen so far. If they keep prodding you for an answer, indicate you are absolutely confident you will easily be able to come to an agreement. Rare are the times companies continue beyond this point but if they do, you can state your present income but clearly acknowledge that other factors like the ones listed above will play a big factor in your call and because you don’t know enough about each of those factors you are not prepared to comment yet.
4. How excited are you about this position? If this is your dream job you are prepared to take a lower pay rate than if it's not. If your companion is being relocated to that city you may not be ready to be too picky. Perhaps the company provides a gateway for you to make fantastic contacts, gain valuable experience and expand your resume. These intangible key factors can also weigh very heavily on the result. One thing you do not need to do is tell them this is your dream occupation (be excited be all means), that you need a position in a new town or that you see them as a springboard to other possible opportunities. If they do know those elements it can seriously constrict your negotiating power.
All telephone interview questions must be handled with care, as each will determine if you get to the following round of second or face-to-face interviews. But the subject of salary is one that is often more feared than all others leading to the increased levels of stress when asked. Just remember, preparing for the question will help eleviate the strain and make certain you provide an answer which will help move you on to the subsequent round of interviews.
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