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How Much Salary Do You Want? (Interview Answers) | What is your Salary Expectation? - YouTube
Channel: The Urban Fight
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How can I tell you my Salary Expectations?!
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..Shouldn't you tell me how much you are paying first
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...and then I'll tell you whether it is okay or not.
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Trust me, I have given multiple interviews and
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I've taken interviews too and it doesn't work this way.
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The way you answer this question decides whether you'll get a good salary OR
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not get an offer at all.
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So it doesn't matter if you are a fresher or an experienced professional,
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today by the end of this video, you'll know exactly
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how to answer this question
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because in today's video, we are going to see...
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What does the interviewer want to know by asking,
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'What are your Salary Expectations?'
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A 3-step process of answering this question,
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no matter what job you are applying for.
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And towards the end, I'll give you a Bonus Tip
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so that your salary keeps on increasing
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either through promotion or a better job.
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And somewhere in between, I'll also tell you how to
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save your salary and make it grow.
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But before that, if you like what I am saying,
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make sure you hit that big fat 'Like' button because
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it tells me that I should make more interview related videos.
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Let's begin.
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Now, every recruiter is different.
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By asking this question, some want to know..
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If you are confident of your skills, your experience..
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so you cannot quote your salary down too low.
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Every company has a budget and they want to know if they can afford you..
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so you cannot quote something too high!
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Keeping those 2 points in mind, here's how you should not answer it..
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Don't give a set number unless the employer mentions it
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and you are negotiating it.
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'Are you serious? You are giving me THAT low?!'
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Even if the offer seems less, respond gracefully
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and ask if you can negotiate.
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And the most important thing, you don't ask the salary question,
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let the interviewer bring it up.
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Just a few weeks back, an interviewee told me,
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'My payscale is in millions.
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..You are a start-up, so you can't afford me full-time. But I am willing to work part-time for you.'
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As soon as he said this, it told me that
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this guy is more concerned about money rather than working with me,
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then why will I waste my time teaching him something?!
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So the rule of thumb is, be gracious and let the interviewer bring it up
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and incase they bring it up, this is how you can answer the question.
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When you are answering this question,
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you are basically selling your skills to the interviewer
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and in order to do that right, here are the 3 things that you must do.
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1. Know yourself.
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List down your education, experience, qualifications,
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unique skills, achievements..
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so that you know what you are worth.
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2. Know the jo and the company.
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Money is important but an average person spends
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90,000 hours working and money is not a good enough reason
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to keep you happy for that long.
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Along with money, things that matter include..
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learning opportunities, team that you get to work with,
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company's vision that makes you want to go to office everyday,
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for some office location matters too.
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So know everything there is to know
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about the benefits you'll get from working for that company.
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And the 3rd and the most obvious step
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is to find out what the industry is paying.
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Go to website like Linkedin, Glassdoor and see what
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range a company is paying for that role.
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Now, here's a Pro Tip!
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A job in Jaipur might pay you 30,000 INR per month
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but the same job might pay 50,000 INR in a city like Mumbai
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because the cost of living, varies in cities.
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Now, after you've followed these 3 steps, here are a few ways
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that you can present your answer.
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As you just saw, you are politely shifting the focus
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from a specific number to the other benefits that a job has to offer
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and are showing that you are willing to negotiate.
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If you are a fresher, then you can tweak this answer like this..
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When you show that the company culture is important to you
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then you as a fresher become more preferable
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when compared to others who have similar qualifications.
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You don't have to say the exact same thing... use your own words.
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But you are getting what I am trying to say right?!
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But if the interviewer is adamant about you providing a figure
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then use your 3-step research to answer like this...
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Now, here is a Pro Tip.
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Kindly do not mention your personal financial needs
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that I need this much salary because I need to pay off my loan.
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Instead use your experience, your qualifications
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and your achievements to justify your salary range.
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I am going to tell you what you can do to
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increase your salary range in the Bonus Tip.
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But before that, at the start of the video, remember
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I said I'll show you what you can do
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to make your money grow.
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No matter what salary you get, it is important that you invest it.
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And one of the ways of doing it, is through this app called, 'EasyPlan'.
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This video is bought to you by them
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because it is a smart way to save and invest your money.
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This is how it works..
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On the app, you can add a personal goal..
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whether it is to go on a vacation, buy a phone or simply maintain an emergency fund.
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I want to go on a vacation. I enter the amount I want to save..
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I want to save it monthly.
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And it'll suggest me how much I should save per month.
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I chose the option that works best for me
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and it'll tell me how long it'll take me to achieve my goal.
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And that's it. Now, at the start of every month
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it'll send me friendly reminders so that I first save from my salary before spending it.
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Now where is this app sending your money?
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This money is being invested in your name, in ICICI Prudential Liquid Fund
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which is a low-risk Mutual fund.
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In the past, it has given returns of 7.2% pa which is similar to a fixed deposit
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and roughly twice as much as a regular bank account return.
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This liquid fund has never lost money in the past for investments made for a week or more and is considered low-risk.
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What I like about this app is that, I can invest 500 INR one month and 1000 INR after 2 months.
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Unlike an FD or an RD, there are no penalties for missing an instalment.
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You can invest how much ever you want and whenever you want.
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Liquidity with this app is high
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because you get 90% of the amount immediately and the rest 10% within 2-3 business days.
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Now, how to invest?
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Simply download the app and complete your KYC
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which is all done on the app without any paperwork.
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So, use the link the description to download the app,
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play around with it a little bit
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and decide for yourself if it's the right investment option for YOU.
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Finally, it is time for the Bonus Tip.
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But before that, you know that I make Career and Finance videos regularly.
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So don't forget to subscribe to my channel and hit that 'bell' icon.
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Most of us, invest our money in FDs, Stock Market, Mutual Funds..
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but unfortunately, most of us do not invest any money in ourselves.
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So we don't buy that online class that'll teach us a new skill,
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we don't attend that conference that'll help us network,
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we don't even take that new hobby class that'll finally make us happy
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just because we think it's..
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..'Expensive.'
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But do you know what is more expensive?
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To be stuck at the same place for years.
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So today's Bonus Tip is this..
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Invest in your self-growth,
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instead of buying materialistic things that you don't need.
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Only when you keep upgrading your skills,
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will you get a promotion or a better job
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or better yet, you might convert your hobby
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into a new career and finally be happy.
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On that note, I promise to see you again in the next video, until then..
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Keep fighting The Urban Fight to be fit! :)
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