What is a good response to a firm which asks YOU, post interview, what your salary requirements are? The firm is known to pay less than the “industry average” but retains staff through great atmosphere, bonuses, etc. You, in contrast, don’t currently work in this industry [it would be a career change]. Your other offers (actual and hypothetical) aren’t really comparable because they’re in different industries. You’ll be taking a paycut to work there–they know it and you know it. What’s not known is how much. You aren’t sure what they’d offer someone like you, because they normally hire people who are new not just to the field, but to the working world altogether. You, in contrast, have work experience, although not in their industry.
The quandary seems to be, how do you let the firm know you’ll work for less, without sabotaging your efforts to get the best starting offer possible? If you shoot too high, they might not offer at all. Name a number too low, and you lose your bargaining power.
They’re asking for a number, ball in your court. The standard vague answer (“competitive”) isn’t appropriate. This advice will be passed on to a pal–Cranky herself only WISHES she were changing jobs.
Your friend does NOT want to come right out and tell them she’ll accept less money than she is making now. She basically wants to get the most out of them that she can, while recognizing that it won’t be up to her current salary - but she shouldn’t invite them to lowball her. Preferably, you should try to get away without naming a number - you always want the firm to name one first - but I guess this is different.
Some suggestions:
“I am extremely excited about this opportunity, and I will consider any offer that’s consistent with the market and your company’s hiring practices.”
“As you know, I’m currently making x, and I’d like to stay in that neighborhood, but I will consider any reasonable offer.”
“My goal is to make between X and Y within the next 5 years, but I will consider any reasonable starting salary.” X and Y should equal what she thinks the growth potential of the job is.
These might help if she still wants to keep it vague and force them to come up with a number.
Tell her good luck! Hopefully I’ll be doing this process soon.
Assuming that you’re working directly with the company (and not an employement agency):
First of all, never EVER give them a salary number before an offer has been made to you. Always maintain that you will be happy to negotiate with them once both parties have agreed that you are the right person for the position. If they truly believe that you’re the right person for the job, they will be afraid to throw you a low ball offer. If they push you for a number, be persistent in maintaining that it is your policy not to discuss numbers until an offer is made. This seems risky, but it is the safest of all strategies. Believe me, if they really think that you’re the right person, they won’t turn you away based on your policy.
Once negotiations begin, ONLY use objective criteria in your arguments. Nobody cares that you currently make $75,000 and cannot afford to take much less because you have school loans and mortgage payments. Do some salary research and find out how much the position pays for someone with your qualifications. Use this information when negotiating. Use anything else that is objective and adds to your argument. By using objective criteria, you seem more knowledgeable and fair, and not money-hungry or greedy. In many cases, you will be armed with more useful info than the person you’re talking to.
I absolutely second this opinion. Don’t EVER be the first to mention a salary figure; let the potential employer give a salary figure first.
If they really need to know your salary requirements, then 1) ask what the typical salary range for that position would be (answer $X to $Y), and 2) say something like “A salary somewhere in the range of (Y - 20%) to (Y + 20%) would be fine” (assuming Y-20% > X). This way, your range is on the high side of their range, but, since you’re talking ranges, there’s still room for negotiation.
If the employer won’t give out a salary range for a position, but insists on getting a number from you, then tell 'em $1,000,000, because they’re jerking you around (and you probably don’t want to work for them anyway).
I’ve been told several times that the best response to “What salary would you want?” is “Are you offering me the job?” If they are, you then have the right to ask the salary range. If they’re not, tell them to call you when they’ve decided you’re the right person and make an offer.
Hope that helps. What I’ve read in this thread so far sounds like great advice.