WHAT ARE YOUR SALARY EXPECTATIONS? (How to NEGOTIATE A HIGHER SALARY in a JOB INTERVIEW!)

CareerVidz

30 Jul 202408:04

Summary

TLDRThis video offers a comprehensive guide to securing the highest possible salary during job interviews. The presenter introduces a four-step formula—RESEARCH, RANGE, REQUEST, and REASONS—to confidently answer salary expectation questions. They provide two sample answers, one suggesting a specific salary based on industry research and another inviting the employer to propose a figure. The video also promotes a resource of 30 example answers to common interview questions, encouraging viewers to subscribe for access and emphasizing the importance of preparation and negotiation.

Takeaways

😀 The video offers tips and a formula to help viewers negotiate the highest possible salary during job interviews.
📈 The presenter introduces a '4R' formula: Research, Range, Request, and Reasons, to guide salary negotiation.
🔍 Researching the salary range for the job and industry on sites like GlassDoor.com is crucial for setting expectations.
💼 The Range step involves stating the researched salary range to the hiring manager during the interview.
💰 The Request step suggests proposing a salary slightly below the top end of the researched range to show respect and negotiation room.
📝 Reasons should be provided to justify the requested salary, highlighting the candidate's value to the company.
🗣️ Two example answers are provided to demonstrate how to use the 4R formula in response to salary expectation questions.
🤝 An alternative approach is suggested where the candidate asks the hiring manager for their salary offer instead of stating a specific figure.
📚 The video encourages viewers to download a set of 30 example answers to difficult interview questions from the presenter's website.
👍 The presenter asks viewers to subscribe, like, and comment on the video to engage with the content and receive personalized help.

Q & A

What is the main focus of the video script?
-The main focus of the video script is to provide tips and strategies to help viewers negotiate the highest possible salary during a job interview.
What does the acronym '4Rs' stand for in the context of the video?
-In the context of the video, '4Rs' stands for RESEARCH, RANGE, REQUEST, and REASONS, which is a formula for answering salary expectation questions in job interviews.
How does the speaker suggest researching the salary for a job and industry?
-The speaker suggests using websites like GlassDoor.com to research the salary range for a specific job role and industry.
What is the significance of stating a salary range during a job interview?
-Stating a salary range during a job interview helps set expectations and shows that the candidate has done their research, which can prevent the hiring manager from offering a low salary.
Why does the speaker recommend pitching the salary request slightly below the top end of the range?
-Pitching the salary request slightly below the top end of the range is a strategic move to show respect and leave room for negotiation, while still aiming for a higher salary.
What are the three reasons the speaker provides for justifying a requested salary of $66,000 in the example answer?
-The three reasons provided are: 1) Bringing passion and commitment to the company's goals, 2) Being flexible in job responsibilities to provide extra value, and 3) Possessing skills beyond the job description, such as social media marketing.
What is the alternative approach to stating a specific salary expectation suggested in the video?
-The alternative approach suggested is to ask the hiring manager what salary they would like to offer, and then discuss whether it meets the candidate's expectations.
Where can viewers find the Top 30 Brilliant Answers to Difficult Interview Questions mentioned in the script?
-Viewers can find the Top 30 Brilliant Answers to Difficult Interview Questions by clicking the link in the top-right hand corner of the video and visiting Passmyinterview.Com.
How does the speaker encourage viewers to engage with the content?
-The speaker encourages viewers to subscribe to the YouTube channel, like the video, and comment with the name of the job they are applying for to receive additional help.
What is the purpose of the speaker's request for viewers to comment with their job application details?
-The purpose of requesting viewers to comment with their job application details is to provide personalized assistance and example answers tailored to their specific job interviews.
Why does the speaker emphasize the importance of subscribing to the channel?
-The speaker emphasizes subscribing to the channel to ensure viewers receive updates on new content that can help them succeed in job interviews and career advancement.

Outlines

00:00

💼 Maximizing Salary in Job Interviews

This paragraph introduces a video aimed at helping viewers secure the highest possible salary during job interviews. The speaker promises to share a four-step formula, sample answers, and tips to negotiate effectively. They encourage viewers to subscribe to their YouTube channel for more helpful content and to like the video to motivate the creation of further resources. Viewers are also invited to comment with the job they are applying for to receive additional tailored advice. The speaker outlines their four-step formula—RESEARCH, RANGE, REQUEST, and REASONS—as a strategy for confidently answering salary expectation questions in interviews.

05:06

📈 Crafting Effective Salary Expectation Answers

The second paragraph delves into the application of the four-step formula with a detailed example answer for the question 'What are your salary expectations?' The speaker advises researching salary ranges using resources like GlassDoor.com and suggests stating a researched range. They recommend asking for a figure slightly below the top end of the range to demonstrate respect and openness to negotiation. The example answer provided includes a request for $66,000 with reasons justifying this figure, such as the candidate's passion, flexibility, and additional skills like social media marketing. The paragraph concludes with an offer of a second answer strategy that invites the hiring manager to propose a salary, emphasizing the candidate's value and openness to discussion.

Mindmap

Keywords

💡Salary Expectations

Salary expectations refer to the amount of money a job applicant anticipates receiving as compensation for their work. In the video's context, it's a crucial topic as it addresses how to negotiate and express one's salary expectations during a job interview. The speaker provides strategies to confidently state one's salary expectations using the 4R formula, which includes researching the market rate, stating a range, making a request, and providing reasons.

💡Job Interview

A job interview is a formal meeting between a potential employer and a job applicant to assess the applicant's suitability for a position. The video focuses on job interviews as a platform where applicants can apply the discussed strategies to maximize their salary potential. The speaker aims to equip viewers with tools to succeed in this critical phase of job acquisition.

💡Research

In the video, research is the first step of the 4R formula and refers to the process of gathering information about the salary range for a specific job role and industry. The speaker emphasizes the importance of research to establish a credible salary expectation, suggesting websites like GlassDoor.com as resources. This step is crucial to avoid undervaluing oneself in the negotiation process.

💡Salary Range

The salary range is the interval between the lowest and highest possible salary for a job position. In the script, the speaker instructs viewers to mention this range when discussing salary expectations, which helps set a benchmark for negotiation. The range is derived from research and is used to justify the requested salary figure.

💡Requested Salary

Requested salary is the specific amount of money a job applicant proposes as their desired compensation. The video advises positioning this request slightly below the top end of the researched salary range to show respect and openness to negotiation. For instance, if the range is $55,000 to $68,000, the speaker suggests asking for $66,000.

💡Reasons

Reasons, in the context of the video, are the justifications provided by the applicant for their requested salary. The speaker outlines the importance of giving solid reasons to convince the hiring manager of the applicant's worth. These reasons could include unique skills, experience, or potential contributions to the company's goals.

💡Confidence

Confidence is portrayed as a key attribute in the video, necessary for effectively communicating salary expectations. The speaker aims to equip viewers with the confidence to negotiate their salary by providing a formula and sample answers, which are designed to help applicants feel prepared and assertive during interviews.

💡GlassDoor.com

GlassDoor.com is mentioned as a resource for researching salary ranges. It's an online platform where employees and former employees anonymously review companies and their management, as well as post job listings, including salary information. In the video, it's recommended for gathering data to support salary expectations.

💡Negotiation

Negotiation is the process of discussing and coming to an agreement, which is a key aspect of determining salary in a job interview. The video provides strategies for this negotiation, focusing on how to present one's case effectively using the 4R formula to achieve a mutually beneficial outcome.

💡Subscription

In the video, the term 'subscription' refers to the act of signing up to receive content from the speaker's YouTube channel. The speaker encourages viewers to subscribe to stay updated with more content that can help them succeed in job interviews and career advancement.

💡LinkedIn

LinkedIn is a professional networking platform mentioned in the video as a channel for viewers to connect with the speaker. It's used as a means to engage with a community of professionals and to extend the support and advice offered in the video beyond the platform.

Highlights

Tips and a formula are provided to help viewers get the highest possible salary during a job interview.

A call to action for new viewers to subscribe to the YouTube channel for more job interview tips.

Encouragement for viewers to like the video to motivate the creation of more content.

An offer to provide personalized answers for specific job applications mentioned in the comments.

Introduction of a four-step formula (RESEARCH, RANGE, REQUEST, REASONS) for answering salary expectation questions.

Advice on researching salary ranges using websites like GlassDoor.com.

Recommendation to state the researched salary range during the interview.

Suggestion to request a salary slightly below the top end of the range to show respect.

Importance of providing reasons why the requested salary is justified.

Example answer using the 4Rs formula, including a requested salary of $66,000 with reasons.

A second answer option that avoids giving a specific salary figure and instead asks the employer for their offer.

Emphasis on the importance of being comfortable with the chosen answer and practicing it.

A link is provided for downloading a set of 30 Top-Scoring Example Answers to Difficult Interview Questions.

A reminder to subscribe to the channel for more job interview tips and success stories.

A prompt to like the video to support the creation of more helpful content.

An invitation to connect with the presenter on LinkedIn for professional networking.

A closing wish for viewers to pass their job interviews and a reminder to check out the provided resources.