Wednesday, July 27

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Salary Question - What is Your Current Salary?

When companies ask you about your last salary they are trying to screen you out. This is a high risk moment and hence you want to delay the salary discussion for later in the hiring process. The representative from the company is trying to make sure there is reasonable alignment of your salary requirements and their salary range. The following is just one example of the value you'll get when you use Interview Mastery.
Here is a recommended response when this question is asked early in the interview processes (before they have decided to hire you). First is the overall strategy then specific examples of how to respond to this question.
The overall strategy is to delay stating a specific salary number until the company has decided to hire you. Any discussion of compensation before this time runs a high risk of eliminating you from further consideration.
Response Strategy
  1. I was paid well and in line with job market conditions.
  2. You'd be happy to discuss salary history later in the hiring process
  3. You're interested in the opportunity so far
Specific Examples When asked "What was your most recent compensation?" state the following (or something similar that is comfortable for you).
"I was paid well in my last position and in-line with market conditions and the results I delivered. I will be happy to discuss my compensation history in detail when we have decided that I'm the right person for this position."
If they asked again; "I realize that you need to make certain that my salary expectations are consistent with the salary range. To ensure we are aligned, please tell me the salary range and I'll let you know how my salary matches the range."
If they ask yet again; "When deciding on a position I consider the following factors; quality of the opportunity, quality of the company and the people I'd be working with, long term growth potential, location and compensation. Compensation is the least important criteria I use to evaluate a position. So far I'm impressed with what I have learned about this opportunity and remain very interested."
Remember that the first person to give a number is at a disadvantage. You want to discuss salary only when they are absolutely convinced they can't live without you. It is at this point that you have negotiating leverage and not until then.
Craft a response that feels comfortable for you and practice saying it. Decide right now that you are not going to discuss salary until you are ready.
Best of luck on your next interview. It is the most important moment in your search for a better position.
- Michael Neece
CEO Interview Mastery
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