The place in which I currently work had someone from the HR department call me to do a "screening" if you will before I even had an interview set up. And salary expectations was one of the questions she asked. I felt by doing so, it saved all of us the time of going through an interview for nothing.
I think this video offers good advice. However, a problem with running through the interview process to near its end for money to be discussed is, one can incur a lot of wasted time. This would be so on the parts of both the potential employer and the job candidate.
I think Dr. Scharff is spot on regarding talking about money (or the lack of) through the interview process. I have just a few things you should keep in mind regarding money: 1. Approach compensation with a holistic view, salary is only one component of compensation. 2. Do your homework on Glassdoor. In most cases, you can walk into the interview with a general idea of the salary within 5k. This will help alleviate some of the anxiety of not knowing what to expect in an offer situation, 3. Salary or "money" is a hygiene factor (google Herzberger's two factor theory), in most cases 5k and sometimes even 10k should not make or break a decision. 4. Convince yourself that you can "confidently walk away" from the offer. This will help give you make clear, logical decisions through the process. For example, I turned down an offer 15k higher than than my current comp at the time. I didnt like the comp structure and I was ready to "confidently" walk away which enabled me to make a logical decision and get what I wanted. Please feel free to leave questions/comments. Anything from the Scharff Tank? Contact: ponzio22@gmail.com
Mike Ponzio Some great advice Mike. I will say it is a lot easier to walk in to interviews confidently when you have a job. While it is still the right thing to do, it is harder when you are trying to land your first job or you are currently out of work. Being in a place where you can say no to a higher offer is exactly the place we all want to be. It really isn't all about the money... you are at work 10 sometimes 12 hours a day, if you don't like the people you work with, your boss, or the work, your life gets very tough, very fast and suddenly the extra money really isn't worth it...
unfortunately a lot of people waste their time going until the end only get an offer that is much lower than what they were expecting. How do you avoid wasting your time in a long drawn out interview process?
This has only happened once to me... and it was actually through a headhunter that misrepresented the salary to me. On this, I'd have to ask if you did your research into what the position pays in your area? Yes, there are companies that look to "get something for nothing", but most companies know the competitive market in their area and make an offer off that. Yes, in those off cases, you could "waste" a few hours of time on a couple interviews - but my guess is that you also learned something in those couple hours - and I have to wonder if there were other "signs" during the interview process that the company was not going to offer a fair market salary (or is it that the interviewee has an unrealistic expectation of the market)?
They were essentially asking for CFO level experience, but paying at a Staff accountant level. I did my research but couldn't pinpoint or get a good idea as to what they were looking to pay...Perhaps you can lead me in the right direction as far as research to find out how much a position is paying. - I don't think they were even at fmv.
So was the position for a staff accountant? It should be pretty easy to find what the salary range for staff accountants in your area is. For CFOs, you would normally need 15+ years of experience (MBA or MAcc and possibly a CPA) and for a staff accountant under 5.
No the position was for a CFO/Controller. I have over 12 years of exp and have held the CFO/Controller title before. I have an MS in accounting, no CPA.
Sorry to hear that... Like I said, it has only happened to me once (actually for a VP of Finance) and they offered me about half what the headhunter had quoted and about 30K less than what I was making. I'm not sure that there is much you can do about it - but it happens only rarely...
Hi, great video!! How do you recommend to manage the situation if they ask you your expectations and your number is about 20 to 30% higher than their expectations?
I believe in the opposite. There is no point to lose both of our time on 1, 2, or more interview stages and then to find out that I am not happy with the salary. That is why I think the salary should be the first thing.
No problem... as noted in the videos, there are some issues with that - in that you then are going to be asked (by any seasoned interviewer) what salary you are looking for... you then may answer too high - in which case you save a few hours of your life... or too low in which case you live with a lower salary. So there is a risk of "wasting" a few hours... but I've only been on an interview at one company that when it came down to it, they were trying to get someone with a lot of experience for well under market. So, in that case I wasted a few hours of my life... but I think holding off the on this question is worth the risk of a few hours of wasted time that may occur very few times.
My last job, I unexpectedly had to have surgery and was out on disability for 3 months. the week I was able to come back, they hired someone else to take my place and let me go because they said with me being out it was hurting their business and they needed to hire someone. Because it was a small company (under 50 employees) they were able to do that. A large corporation could be sued for such an action if I had been on FMLA. How do I explain that if it comes up in interview as to why I left my last job? I still have a good relationship with the company. I don't burn bridges and they gave me a great letter or reference. I would never bad mouth previous employers. I just want to know the best way to explain that situation in a positive light. thank you. your videos are very helpful!
I don't think that would be an issue... be honest and state that it won't be an issue in the future and what you have done to ensure you are in great shape - i.e. working out, PT, etc.
Could please advise books to read, related with Interview and also will be helpful for self presentation at interview. Thank you very much for your time.
Not sure I can answer that... Is 35K in the range you were looking for? If so, I would tell them that is the range you were looking for - if they offer you the job, you can always negotiate from the $35K. If you were looking for $75K, I would tell them that... there is no sense wasting your time on a job that you would turn down if offered.
I would attempt to put it back on them... something like "I'm sure that your offer will be within the market in the area. I'm really most interested in (then identify what you really like about the job - ability to learn a new topic, opportunity for growth, etc)".
So why is it a bad idea to ask about money in an interview? After all we would be providing a service and you said yourself if the interviewee has a number higher than the interviewer, then doesn't it make sense to find out early enough without wasting each other's time? I mean if you're not on the same level, then maybe the interviewee needs to find a job that fits their criteria, as well as the interviewer needs to find a candidate that will be happy and content with the amount of salary that they're offering. To me, I want to know so I'm not wasting my time or yours. I see a lot of mixed videos about this question you say no way don't ask, and others say yes do ask. So who's right and who's wrong?
Yes, you risk wasting your time on a couple interviews where the money may be so low that you wouldn't take the job. What I'm suggesting is that that potential waste of time is worth it as, generally, whoever brings up money first loses in the negotiation. Additionally, as I highlighted, you may bring up a number that is too high (in which case I'm not going to offer you the job) or too low (which means that you unknowingly left money on the table). Generally, you should know an approximate salary range for a position (look up salary.com) so you have a general idea. I've been on a couple interviews where the money was much lower than I was expecting and I declined the position. You could say I wasted a couple hours, but I think the money I gained by negotiating from a known point (when they bring up salary) more than makes up for a couple hours of lost time.
"you want me...open your wallet...top end of the scale or I walk" THATS how you answer it. I dont have a job, but yeah, thats how I always answer that! :)
Clearly you haven't come to India, I see. HR here asks the first thing when they contact you what your salary expectation/range is. And they won't let you give a vague/indefinite answer .... What has this become....
