What Are Your Salary Expectations? | Telephonic Interview Tips for Success

Summary

In this video by Bhavya Insights, viewers learn how to tackle the question of salary expectations during telephonic interviews with confidence and strategy. Common mistakes include asking for unrealistic salary hikes or quoting industry-standard increases without context, which may hinder job prospects. Instead, Bhavya recommends expressing openness to negotiation and aligning expectations with job responsibilities and growth opportunities. This approach ensures a balanced conversation that highlights both financial and career aspirations, potentially increasing the chances for moving forward in the interview process.

Highlights

• Asking for a 60% salary hike can backfire and stall your job application. 🚫
• Quoting a 20-30% hike might show lack of strategic thinking. 🧠
• Include growth and responsibilities in your salary expectation discussion. 📈
• Inquiring about salary ranges shows openness to negotiation and understanding of the role's value. 💡
• Pro tip: discuss salary expectations with a focus on long-term goals and stability. 🔍

Key Takeaways

• Avoid quoting extremely high salary increases to prevent putting your job application on hold. 📉
• A standard 20-30% salary hike request may make you seem unstrategic. 🤔
• Always ask about the salary range for a position to start negotiations from a balanced point. 💬
• Express expectations in terms of growth and responsibilities, not just money. 🌱
• Being open to negotiation demonstrates flexibility and understanding. 🤝

Overview

During telephonic interviews, nailing the salary expectation question with confidence and a strategic approach can be the deal breaker. Avoid the pitfalls of quoting high hikes or industry-standard figures that could impede your progress. Instead, go for a balanced dialogue emphasizing your role expectations and flexibility.

One common mistake is asking for steep salary hikes, which might suggest your primary focus is financial rather than on the role itself. By aligning your salary expectations with growth opportunities and responsibilities, you indicate a comprehensive approach. Adding emphasis on your openness to negotiate reflects a practical understanding of the job market.

Begin by inquiring about the salary range, which can help tailor your response effectively. If salary specifics aren’t disclosed, frame your answers within a flexible 16-18 lakhs range inclusive of variables. Always merge your salary talks with career growth, projects, and responsibilities, underpinning your interest in a holistic career trajectory.

Chapters

• 00:00 - 00:30: Introduction The introduction chapter discusses the common mistake made by 80% of candidates during telephonic HR interviews regarding questions about current and expected compensation. The chapter sets the stage for presenting two example situations where candidates often go wrong, leading to their profiles being put on hold. It promises to conclude with a pro tip to help candidates confidently answer this question in future interviews.
• 00:30 - 01:00: Situation 1: Asking for a 60% Salary Increase Chapter Title: Situation 1: Asking for a 60% Salary Increase In this chapter, a candidate discusses their current and expected salary details during an interview process. They currently earn a total of 9 LPA, which includes a base salary of 8 LPA plus a 1 LPA variable component. The candidate expresses an expectation to receive a 60% salary increase, aiming for a total of 14 LPA. The interviewer, however, seems hesitant, remarking on the high request and deciding to put the candidate's profile on hold while considering other applicants.
• 01:00 - 01:30: Analysis of Situation 1 In 'Analysis of Situation 1,' the chapter explores a common mistake candidates make during telephonic interviews: requesting a 60% salary increase upfront. This often gives the impression that the candidate is primarily focused on financial gain rather than the role, growth opportunities, or cultural fit. Such demands can jeopardize the candidate's chances, as it risks their profile being sidelined, especially if their salary expectations are considered unrealistic.
• 01:30 - 02:00: Situation 2: Asking for a Standard 20-30% Hike In this chapter, the situation revolves around a salary negotiation scenario, particularly focusing on requesting a standard 20-30% salary increment. The conversation begins with a recruiter asking Niha about her current CTC (Cost to Company). Niha responds that she is earning a total of 13 LPA, which includes 12 LPA as base pay and an additional 1 LPA as a variable component. When asked about her salary expectations, Niha expresses her expectation for a hike of 20-30% based on industry standards. The recruiter concludes by stating they will inform Niha if her profile is shortlisted.
• 02:00 - 02:30: Analysis of Situation 2 The chapter 'Analysis of Situation 2' discusses the common practice among candidates to ask for a 20 to 30% salary hike during job negotiations. It highlights that recruiters often encounter this request from eight out of ten candidates. The chapter suggests that such a generic demand demonstrates a lack of strategic thinking, which might lead to candidates receiving the minimum salary increase possible. Additionally, it warns that quoting a salary that's too low presents an opportunity for employers to offer their lowest package, whereas quoting too high could risk disqualifying the application altogether.
• 02:30 - 03:00: Best Approach to Salary Expectations The chapter discusses how to handle salary expectations during a job interview when the offered salary may be out of the candidate's expected range. It suggests first asking for the salary range for the position and then expressing that your expectations will align with the growth and responsibilities associated with the role. The focus is on being open to negotiation based on performance in the interview.
• 03:00 - 03:30: Suggested Response to Salary Expectations The chapter discusses how to respond to questions about salary expectations during a job interview or negotiation. The person suggests a salary range between 16 to 18 lakhs, indicating they are open to discussions and negotiations. They express a willingness to consider other elements such as project offers, responsibilities, career growth opportunities, and benefits. The individual is confident that their skills align perfectly with the job requirements.
• 03:30 - 04:00: Conclusion and Pro Tips The chapter emphasizes the importance of a balanced and flexible approach during interviews, particularly inquiring about job roles, packages, and responsibilities, rather than just focusing on salary. Highlighting long-term goals and stability with the company can significantly increase the chances of progressing to face-to-face interviews. A pro tip shared is to inquire about salary ranges while demonstrating openness to negotiation.

What Are Your Salary Expectations? | Telephonic Interview Tips for Success Transcription

• 00:00 - 00:30 during telephonic interview when this question is asked by the HR that what is your current CDC and what is the CDC you are expecting 80% of candidates does this mistake that I'm going to show in these two situations which leads their profile on hold and they won't receive any call back again from the HRS after showing these two situations with you by the end of the video I will tell you a pro tip to sound really confident and answer this question like a pro Situation Number One hello Niha thanks
• 00:30 - 01:00 for all the details that you have shared till now may I have your current CDC well I'm currently drawing 8 LPA plus 1 LPA as a variable and altogether it's 9 LPA and what are you expected CTC I'm expecting somewhere around 14 lakhs in hand plus variables W okay I will get back to you asking for almost 60% hike oh let's put her profile on hold I will better see another candidate
• 01:00 - 01:30 so you have seen in this situation that during the telephonic interview the candidate has requested for almost 60% salary increase which is a common mistake done by most of the candidates asking for such a significant race upfront can give you the impression that your primary focus is on financial gain rather than the role position growth or culture fit by saying this you will risk your profile to get put on hold and if your salary expectations are out out of
• 01:30 - 02:00 their budget then on your resume they will be marking very high expectations and here is Situation Number second hello Niha thanks for all the details that you have shared till now may I have your current CDC well I'm currently drawing 12 LPA plus 1 LPA as a variable so altto together it's 13 LPA and what are your expected CTC I'm expecting as per industry standards around 20 to 30% hike okay we will let you know if your profile gets shortlisted
• 02:00 - 02:30 again a basic reply 20 to 30% hike I know this candidate can even join in 15% so a standard request hike for 20 to 30% salary is something that recruiters heard from every eight out of 10 candidates it shows lack of strategic thinking and may result in receiving the minimum hike they are going to offer so basically if you quote too low then you're giving them the hand to offer you their lowest package and if you quote too high you get your application on
• 02:30 - 03:00 hold because you are out of the budget so here is a best way to handle this situation and what are your expected CTC thank you for asking I would first like to know the salary range for this position we don't have a fixed salary range but we are open for the negotiation depending upon candidates performance during the interview that's great even my expectations will be as for growth and responsibilities for this position that's fine but I still need
• 03:00 - 03:30 some number like you know some quote regarding your salary or CDC to proceed this for the next step can you please share your expectations okay so I'm particularly expecting range between 16 to 18 lakhs including variables and I'm open for discussions and negotiation also about my expectations depending upon other elements also like the offer of the projects responsibility career growth and other benefits I'm confident that my skills will be great match for
• 03:30 - 04:00 this role so this reply is balanced and flexible and it will surely going to increase the chances of face to-face round of interview and it also includes other factors like job role pgks and responsibilities that shows that you are not only thinking about salary but you're also thinking about the long-term goals and stability with the company and here comes the pro tip for you inquiring about the salary range first demonstrate that you're open to negotiation and and
• 04:00 - 04:30 interested in understanding how the company values this rule this approach helps you avoid undervaluing yourself and also ensures balanced conversation one more very important thing that inquire about the salary range only once and in a very polite manner if the recruiter seems not interested in disclosing the salary range then don't ask it again else it may seems that you are a forcing candidate trust me being an HR I can tell you that how it
• 04:30 - 05:00 actually works because when we decide to hire somebody then we can even break the bracket of budget at the last moment do share this video with your friends and if you like this content don't forget to hit the like button and if you're new to my channel don't forget to subscribe my channel because I'll be coming up with more tips and tricks to land your dream job all the best for your future interviews