In the following article we will discuss what should be your desired pay in any job. As an employee, talking about your salary is the most important thing that one should keep in their mind. Many factors can affect your salary including work experience, education and location.
The proper time to discuss your desired pay is before you accept a job role because at that time you will get the bargaining power. Let’s have a detailed look on the topic of what your desired pay is. Also you should know about how salaried employees get overtime pay.
What is a Desired Salary?
So before knowing about your desired salary, you should know first about what the desired salary is. So, basically the amount of money you want to receive every month for doing a job is known as desired salary. If you are new to the industry and companies you must know how to calculate your desired salary.
How to Work Out Your Desired Salary?
Some of the major steps are mentioned below,by which you can calculate your desired salary.
Do your Research
It’s very easy and important to search what the market rate is for a similar job. To search, the best method is that you can by taking a look at the job vacancies online for a similar type of job. Some websites also published their average salary for specific job.
Work out your Living Costs
Living costs are the second most important factor to keep in mind when someone is asking for the salary you want. Living costs include your house rent, bills and other day to day living expenses. Also, salaries tend to vary with respect to the location. In some places, costs of living are cheaper than many other places.
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Consider your Experience and Education
Your college degree and work experience in the previous job are important factors to lie on when you’re calculating your ideal salary. If you have a good degree that gives you precious knowledge, then you are able to justify why you are asking for a higher salary. If your experience in that work is good then you can receive high salary.
What to do when you’re asked what salary you desire?
So,if they asked you your desired salary then the following are the important perspectives,which you can say.
Provide only what you’re asked for
Provide only what you are asked for. You can send over a cover letter and CV in your application. Don’t mention your salary expectations in these starting discussions, until the company has made you an offer. If the company asks for your expected salary in your application, then only you can fill this with a phrase like ‘Salary is negotiable. By which the salary can be discussed in the further interview.
Be Open to Negotiation
If you’re filling out an online application form with tick boxes about whether you’re open to negotiation on your salary, you can select this.
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How to answer the salary question in interviews
If question related to salary, is asked in the interview then you can answer by the help of given options:
Give it Enough Consideration
Firstly give it enough consideration, don’t feel pressured to answer this question quickly until you have enough information to make a good decision. Take your time before you can respond, think about it, feel comfortable and then you could answer what you’re worth.
Consider the full benefits
They will ask for your extra benefits. These benefits can have a significant monetary value and can include health insurance, pension plans and company stock investments.
Be Prepared to say No
Always remember that the company will try to settle down at the lowest salary. They will try to lock the best deal. Be alert that the first salary offered by the company is their lower salary .Be prepared with the lowest salary you’re prepared to accept for the role. If they offer you less than your desired salary, be prepared to say clearly.
Frequently asked questions
You must say that you are looking for a role that’s in line with your skills , expertise and career goals. For instance, you can say to them:’ I am looking for something in the range of £40,000 to £50,000 per year. I believe that this is the average range of salary for my level of employment, and it’s a range I’m comfortable with.
You can say :’according to Indeed, the average current salary for a role in my position is £50,000 per year. I have a degree that provides me with all the important skills and expertise to take on a more advanced position’.
Conclusion
In conclusion, we can say that salary totally depends on the type of work, location, work experiences. Practice your request in front of the mirror so that you feel confident asking for it. Remember your worth and what the lowest offer is that you’d accept, as it can help you to feel more comfortable asking for what you’re worth.
It can proved helpful as it will give broad range of salary. Be sure to include your ideal salary near the bottom of the range, allowing you more room for negotiation and so your prospective employer doesn’t negotiate below what you’re willing to accept.
