Suzy Welch Reveals How to Disclose Your Remuneration During Job Interviews
Many people are usually unsure of how to respond to queries potential employers pose about how much money they make. This particular job interview freeze is quite common and can cause stress on individuals who were not sufficiently prepared.
While the jury is still out there on the validity of such questions, it’s always great to be safe than sorry. Some people advise ignoring such questions or sidestepping the issue and switching the topic. However, popular CNBC contributor and bestselling author, Suzy Welch, cautions against such practices. Welch opined that in such situations, interviewees need to be as truthful as possible.
She bases her opinion on the fact that the best way to initiate productive relationships is through truth-based discussions. She further proceeded to share a couple of other pointers for applicants about to face employers.
Market Value Pricetag
Welch shared that many people dread talking about how much they make. However, she believes that that negativity can be refocused on better options. She advises that applicants need to look up their relative worth based on the skills they possess. After that, the next step should be determining the likely figures one is likely to receive upon becoming a successful candidate.
She mentioned that a couple of handy sites like LinkedInSalary, Glassdoor and PayScale can enable anyone to make a rough estimate of how much they should earn working the various job markets. Welch said that at times, individuals discover that they are underpaid.
She cited that such circumstances occur the most in situations where individuals were hired a long time ago or if their entry salaries were below sea level. Welch also pointed out that in rare cases, individuals tend to find themselves overpaid. She went ahead to highlight that the chief reason one should undertake research is to become better prepared to respond to queries about their financial state.
Talk It Out
In so doing, Welch pointed out that employers tend to feel that they are dealing with an individual of integrity and can better embrace them. When disclosing the remuneration figures, Welch added that providing a breakdown is of the essence. She mentioned that things like bonuses, the gross salary and any extras should be included before providing a single round figure.
In conclusion, Welch emphasized that applicants need to go out on a limb and argue their case before the panellists as a way to justify how much they earn. In doing so, Welch cited that employers are likely to embrace the applicant. She mentioned that individuals who point out to being willing to take salary cuts all in a bid to grow recorded the highest success rates. After the presentation, Welch underlined the need for applicants to simply sit back and await the final word from the hiring manager.
When compensation queries are asked in emails and web-based applications, analysts believe that the best way to handle that is by using a friendly tone. The tone used can provide an avenue for future negotiations where applicants can learn about the job in-depth.
A survey conducted on 15,000 employees last spring by Payscale revealed a couple of interesting stats. Women who failed to disclose their salaries during interviews went on to earn less than the women who did. On the other hand, men who failed to disclose the monies they make were likely to earn more than those who did.
Given the varied numbers, there’s been a growing crowd of people who believe that the best way to handle such situations is to simply postpone giving a response. The most important aspect that needs to be covered is the application. Qualified individuals have nothing fear as long as they enthusiastic.
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