By Mitch Byers, KERA 90.1 Commentator
Dallas, TX –
Mary Clark is a CPA with over 10 years experience with Royal Financial Partners. Recently, she was notified the local branch would be consolidated with the Houston office. In 30 days, she will be out of a job.
Mary has secured several interviews, but is concerned about how to answer the question, "What are your salary requirements?" Maybe Mary will answer, "Considering my CPA status and 10 years in the finance industry, I am expecting a salary of between $75,000 and $85,000." Or Mary might respond, "As a Finance Specialist, my base was $70,000 and I was eligible for an annual performance bonus."
Salary issues can easily become a tug-of-war between the potential employee and the hiring company. Mary is looking for an effective way to respond to the Salary Question, but not feel defensive in her approach.
In order to create a more neutral environment, Mary will need to remove the "I" and "My" from her responses. Instead of using the word "salary," she will adopt the term "value." Now, instead of talking about her salary requirements, Mary will be answering the Salary Question in terms of value.
As an example, say that Margaret is interviewing Mary:
Margaret asks: "Mary, as you think about your next career move, what are your salary requirements?"
Mary responds: "Currently, Royal Financial Partners values the Financial Specialist position with a base of $70,000 and a provides an annual performance bonus," or "Salary research indicates a tenured CPA with similar experience is valued at a base between $75,000 and $85,000."
Reframing the Salary Question in terms of Value takes away much of the tension associated with answering the Salary Question. At no point in her answer did Mary use the words "I, Me, My" or "Salary." The conversation is not about Mary (the skilled candidate) and Margaret (the hiring manager), but about the value companies place on certain competencies and Mary's perceived value in the marketplace.
After answering the Salary Question, it is then Mary's obligation to ask Margaret not about salary, but about value. Mary asks, "Margaret, would you please share how the company values this position?"
Margaret may reveal the Financial Specialist position is in line with Mary's salary research, and has a base of between $75,000 and $85,000, a spread of $10,000. Mary will be proactive and ask, "Margaret, would it be correct to assume then, that the midpoint for the position is $80,000?" Margaret nods in agreement.
Mary now knows that $80,000 is the midpoint, the minimum salary she should accept. By providing a straightforward answer and asking follow-up questions, Mary has done double duty - she has provided Margaret relevant compensation information and has set minimum expectations for the job offer.
In this scenario, Mary did not let the Salary Question become a tug of war. Instead of a defensive approach, Mary allowed the Salary Question to be an equal exchange of information. Now, she can move forward through the balance of interview process with a higher level of confidence.
Mitch Byers is a staffing specialist based in Dallas.
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