Whether you’re nailing down the details of a new job offer or hoping to negotiate a raise in a current role, you probably want to make sure you’re being paid fairly.
What is the expected salary?
The expected salary is the compensation that you would like to receive for a new job. It's common to be unsure of what to put for the expected salary as you're completing job applications and attending interviews. If you select a number that's too low, your employer may eagerly accept the suggestion and pay you less than you're worth. If you quote an expected salary that's too high, you could risk losing the job opportunity.
It's important to have a smart strategy for approaching the matter of your expected salary. Your expected salary is something that you often discuss in job interviews or notes on a job application. It's important to know how to answer this question. Providing a salary in the right range will help you get a job that can compensate you appropriately for your skills and experience.
How to determine the expected salary
Research
Study the average salaries for your occupation perform online research to see what others are making with this job title. You will probably find a broad range depending on location, experience, and education. This gives you a very loose basis of what you can list as your expected salary.
Factor in experience and education
Experience and education are two of the biggest determining factors when considering salary. If you're seeking an above-average salary, you should also have above-average skills and expertise. If you have a long history of working in a particular field, you can ask for a higher salary than if you're an entry-level employee.
Consider your cost of living
The average salary for a job varies by location. If you're relocating to your new position, it's important to understand how much it will cost for you to maintain the same standard of living in a new city. In some places, housing, gas, groceries, and utilities are significantly cheaper. If this is the case, you may accept a salary that's lower than your previous job.
In other cases, you may find that living costs are notably higher in your new location. In this case, you will want to request a higher salary simply to maintain the same lifestyle. If you want to increase the funds that are available after your standard living expenses, you need to request an even higher salary.
3 tips can help you comfortably discuss your salary
- Stay confident. If you seem unsure, the hiring manager may see this as an opportunity to negotiate a much lower salary. Present a confident attitude that conveys the fact that you know what your work is worth.
- Use a broad range. Providing a salary range with your targeted salary near the bottom gives both parties room for negotiation.
- Counter with your questions. If you're asked about your salary range in an interview, you can answer with questions of your own. You may state, "I don't usually discuss compensation until I have a job offer. Is that the case here?" You may also respond with a question about bonuses, commissions, or other types of compensation.