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Unlocking the salary puzzle: 5 strategies for job interview success

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Navigating the delicate subject of salary expectations during a job interview can feel like tiptoeing through a minefield.

The mere mention of the question often sends shivers down the spines of even the most seasoned job seekers. Yet the job interview process could be the one time where you can set the expectations and avoid resentment later down the track.

To shed light on this daunting aspect of the interview process, I turned to a diverse array of colleagues spanning various industries and experience levels for their insights.

Here are five strategies they shared on how to approach the tricky topic of salary during a job interview:

The question

The question “What are your salary expectations?” ranks high among the most nerve-wracking inquiries in a job interview.

Many find themselves grappling with the fear of undervaluing their worth or pricing themselves out of contention.

To alleviate this anxiety, it’s crucial to arm yourself with knowledge about the prevailing market rates for your role.

Conduct thorough research using resources like salary.com or leverage your professional network to gain insights into industry standards.

Equipped with this information, you can confidently propose a salary range that aligns with your expertise and experience.

Do your homework

Crafting a data-driven argument can bolster your negotiation stance during salary discussions.

Rather than relying solely on personal preferences or vague assurances of contentment with the offered salary, present concrete evidence supporting your value proposition.

Referencing industry benchmarks and your own market value demonstrates a proactive approach to advocating for fair compensation. Striking a balance between assertiveness and flexibility can further underscore your willingness to engage in constructive dialogue.

Ask questions

In cases where uncertainty looms over salary expectations, consider seeking clarification on the salary band for the role.

This approach not only empowers you with valuable insights into the organization’s compensation structure but also provides a framework for anchoring your negotiation strategy.

Armed with knowledge of the salary range, you can position yourself strategically, aiming for a figure that reflects your skills and contributions while remaining within the realm of reason.

Set the bar

Taking a proactive stance by aiming higher than your desired salary can be a savvy negotiation tactic.

By setting the bar slightly above your target, you create room for concessions while signaling your confidence in your worth.

Transparency regarding your salary expectations, coupled with a willingness to engage in meaningful discussions, can foster an environment conducive to negotiation. Remember, if a potential employer values your contributions, they will likely be open to exploring mutually beneficial arrangements.

Broader package

Leverage the discussion on salary expectations as an opportunity to delve into the broader benefits package offered by the organization. Instead of fixating solely on monetary compensation, inquire about additional perks such as health insurance, retirement plans, or professional development opportunities.

This holistic approach demonstrates your consideration of long-term career prospects and organizational fit, transcending the narrow confines of salary negotiations.

Navigating discussions about salary during a job interview can be daunting, but with strategic preparation and a clear understanding of your worth, you can approach these conversations with confidence and poise.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Money

Workers rush back to their desks over job fears

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Workers across Australia are rushing back to their desks, driving office utilisation rates to their highest levels since February 2020.

Tuesdays, Wednesdays, and Thursdays emerge as the busiest in-office days, contrasting with the continued reluctance to return on Fridays.

This insight, drawn from XY Sense data based on 18 enterprise customers in Australia employing approximately 68,000 individuals across 127 buildings, reflects a significant shift in workplace dynamics.

The surge in office attendance coincides with a resurgence in workplace attendance mandates and policies linking physical presence to bonuses and performance reviews.

However, co-founder of XY Sense, Alex Birch, suggests that rising job insecurity, rather than these policies, primarily drives this behavioral shift.

“The pendulum has moved towards the employer, and therefore people feel more obliged to go back into work,” commented Mr. Birch.

Job market

Danielle Wood, chairwoman of the Productivity Commission, anticipates this trend to persist as the job market softens.

She notes a disparity between employer and worker perceptions regarding the productivity benefits of hybrid work arrangements, hinting at potential shifts in the employment landscape.

Meanwhile, economists at the e61 Institute observe a partial reversal of the pandemic-induced “escape to the country” trend.

Rent differentials between regional and capital city dwellings, which narrowed during the pandemic, are now widening again.

This trend suggests a diminishing appeal of remote work options and a return to urban commuting.

Aaron Wong, senior research economist at e61, said the emergence of a “new normal,” characterised by a hybrid lifestyle that blends access to office spaces with proximity to lifestyle amenities such as natural landscapes.

While regional rents decline, rents for homes on the urban fringe surge, reflecting evolving preferences shaped by remote work opportunities.

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Money

Why resilient economy is fuelling demand for Australian property

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Despite inflationary pressures, Australian house prices have surged to a record high for the fifth month in a row, as indicated by CoreLogic data.

Australian house prices have not only weathered inflation but have also soared to unprecedented levels, marking the fifth consecutive month of record highs, according to data from CoreLogic.

This resilience reflects the enduring demand for property in the country, showcasing the sustained interest of buyers despite challenging economic conditions.

VentureCrowd’s Head of Property, David Whitting, talks how investors can access alternative ways of property investing.

Presented by VentureCrowd #funding futures #housing #economy

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Money

Three reasons why you don’t need to panic about inflation

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Inflation in the US has exceeded expectations for the third consecutive month, driven by increases in essential commodities such as oil, electricity, takeaway food, and medical costs.

  1. Despite a 3.8% year-on-year rise in CPI, it’s notable that this figure has decreased from its previous 9% high.
  2. The robust CPI and economic growth numbers suggest a positive outlook for US corporate earnings.
  3. The S&P500 has seen five 1% drops this year, all of which were met with investors buying the dip.

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