When it comes to salary negotiations, there’s a common belief: the first person to speak loses. But that doesn't have to be true.
Imagine you're in a conference room toward the tail-end of an interview, and this question comes up: “What is your salary requirement?” Trying to reverse the situation so that the interviewer names a figure first is probably not going to work. So, what should you do when faced with this question?
I recommend that, before your interview, have three numbers in mind:
- Your absolute bottom line: This is the minimum amount you need to survive.
- Your padded bottom line: A slightly higher figure that gives you a cushion.
- Your “excited about the opportunity” figure: A realistic number that makes you enthusiastic about the role.
It's crucial to never reveal your absolute bottom line; this is your walk-away figure. If an offer comes in below this, you're ready to walk away. However, it’s important to know this number for yourself as a barometer.
When asked about your salary expectations, try this approach:
“Well, I need to make [insert padded bottom line], but [insert excitement figure] would put me in my happy place.” (Or use whatever language fits your personality best.)
If the interviewer sees you as a great fit, they will likely want to offer you a match or something close to your “happy place” figure. But that won't happen if you don't make this clear.
The best opportunities often come when you’re prepared. Know your worth, be ready to discuss it confidently, and you’ll be in a strong position to negotiate the salary you deserve.
Having said this, if the interviewer does not raise the issue of money during the interview, I recommend holding off until you get the job offer because this is when you have the most leverage. They want you, and you know it.
You can still have the "happy place" conversation at that time. Doing this will not cause any employer worth their salt to retract an offer.
Feel free to reach out with any questions about interviews or negotiations. :)
