02 Jan How do I know how much pay I deserve if I am asked in an interview?
“What do you expect to be paid?” — even though it seems like a simple question, during an interview it can be one of the most nerve-wracking.
Talking about money is never easy, but the worry about either under-asking or over-asking can get the heart racing. As an employee, it is your job to show up as prepared as possible to guarantee a valid answer.
How should you answer?
First, it is important to do some research because salaries can vary greatly for each workplace. A salary can be calculated based on location, living costs, experience, skill level, and age. All these factors should be extensively researched so you can compare your experience and position to others in the targeted area.
There are a few ways you can answer this question. If you are comfortable with the research you have done, you can provide the salary you believe is fair. If providing a single amount is uncomfortable, you can offer a range that you believe is suitable for the position. When providing a range, consider suggesting a higher number (within reason). Employers often settle for a lower number, so you should provide a salary range where even the lowest number would be acceptable.
You can also respond in a way that indicates you are open to negotiating the compensation. As an employee, you can receive payments monetarily, but also through rewards like benefits, bonuses, stock options etc.
With any response you choose, it is important to be confident with your answer and be able to explain why you think this amount is fair.
How can an employment lawyer help?
If you have received an Offer of Employment, before accepting, there is room for negotiation. KCY at LAW can help negotiate these terms or provide you with advice to negotiate on your own.
Employment Contracts are not definitive, and Kathy Chittley-Young would be able to analyze and assess how much compensation she believes would be fair. It is important that you address these issues at the beginning of your employment relationship before you sign a contract that you don’t believe is acceptable.
Why do employers ask?
What are employers really looking for when they ask this question? They want to know if you know your value and are aware of what you bring to the table. And more selfishly for them, they have a budget. Even if they like you and could use your talent, they need to determine whether they can afford your skillset and role.
If you are in the negotiation stage of an Offer of Employment and would like your Employment Contract reviewed, or require some advice on the negotiation process, please contact KCY at LAW by filling in an online consultation request or contact us by phone at 905-639-0999 to book your consultation today.