FYI Candidates – September 2009
Candidates: What to Do if You Get Asked “The Money Question”
By Rebecca Patt, Vice President of Development
When “the money question” comes up in an interview, how you respond can ultimately factor in how worthy a candidate you’ll be deemed and how much you’ll ultimately be offered should you have the good fortune to receive an employment offer.
Here’s a couple of ideas on what to say when asked “what you are looking for in terms of compensation?”
- I don’t have a “hard” number in mind. I would be in the market for a fair and reasonable offer (… or an offer that improves on my current compensation).
- Money is important to me, but the opportunity is even more important. If you see me as a good fit, I would like to consider your best offer. What is the range for this position?
If you are asked about your current compensation, answer honestly and accurately. Don’t hedge. Make sure to include all the things that make up your current compensation – Base, Bonus, Vacation, 401k, Stock Options.
Take the time to role play your answers with someone your trust so your answers sound poised and confident. Never bring up money or anything related to your convenience in an interview. Your mission is to focus laser-like on communicating to your interviewer that they’d be crazy not to hire you.
Save negotiating for after the would-be employer has decided to extend an offer. A good recruiter will work as an agent between the employer and candidate to help negotiate with a win-win agreement.
Happy Interviewing.
Rebecca
Rebecca Patt
Vice President of Development
Dick Wray Executive Search
Tel: 612.354.7400
rebecca.patt@dickwray.com