It's that time again, time for the Interview Question of the week.
When you are looking for a new job, being prepared for your interview is key to standing out in the sea of applicants. To help you prepare, each week we tackle another tough interview question and break it down to see where the traps are and come up with a strategy to answer it effectively.
So, without further ado, here is the Interview Question of the Week:
Question:
Would you be willing to take a pay cut?
Why it's a trap:
Talking about salary is always touchy. You don't want to sound too willing to accept less than what you deserve. At the same time, how much the company can afford to pay and how much you are asking may be the difference between getting the job or the company deciding to go with someone who requires a lower salary. Before your interview, you need to do some research to find out what the average salary range for the position is, and then look at your personal finances to figure out what is the lowest amount you are willing to accept. Knowing this information before the interview is key to negotiating a salary that fits both your and the company's budget.
Sometimes interviewers will ask you this question to see if you are prepared and to find out if you have any idea of what the going rate is for the position. Often, managers are in charge of keeping to a strict budget and by making you nervous about the likelihood of getting the salary you want, it makes it easier for them to pay you less and come in under budget.
The best answer:
Keep in mind that the interview isn't an official salary negotiation, but you don't want to say that you would accept less during the interview and then try to negotiate a higher amount after receiving a job offer. It wastes everyone's time, because the employer has a figure they are willing to pay and they are trying to determine if they can afford you. If you know you can't take less than what you were making previously, be honest. It may cost you the job, but if you wouldn't be able to take care of your obligations, then it may not have been the right job for you.
The best way to answer the question is to share with them what you are making now, and offer a range of what you feel is appropriate for the job. If you are comfortable accepting a lower starting salary, then let them know that you would be willing to negotiate it further.
For example: “Currently, I am making (your salary). From my research, it seems that the average range for this type of position is between $XX and $XX. While I would, of course, love to improve my salary, that isn't the most important thing to me. I am more interested in the job itself and the opportunity to be challenged and do what I love. I would be open to accepting a lower starting salary, but I would want to have the option to revisit it after I have proven myself.”
This answer lets the prospective employer know that you are aware of what is fair for the position and reassures them that you main concern is the job, while still leaving open the option of renegotiating a better salary in the future.
What do you think of this answer? Are there other questions you would like to see in this series? Let me know in the comments.
By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for SalesHeadsBlog, along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.
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