<p>So recently I have been contacted by one of the largest companies in the US concerning an entry level position. The lady who talked to me asked me some questions but I couldn't figure out what did she mean!
I applied to the job online, and was contacted the next day, although the job posting didn't expire yet. We talked for 15 minutes and then she said she will forward my info to the hiring manager, could you please tell me what do they look for when they ask the following questions, and whether I answered right? (PS: some are clear, I will just put them for completeness sake)
1) GPA & Experience - gave the same info on my resume
2) How much were you paid during your internship and how much do you expect to be paid in this position (isn't it a bit early?) - I gave her my hourly rate for my co-op and I said "around 60k" for salary of an entry level engineer
3) [MOST IMPORTANTLY!!] Are you in the process of interviewing with other companies? I didn't know what to say so 'honesty is the best policy': I said I was interviewing for a company that supplies them with parts, and that I was in my early interview stage - why the hell do they want this info??
4) Which companies do you want to work for? Instead of giving the obvious: 'I want to work for you' answer, I said I want to work in this industry, and "you being a leader in this industry, I would like to work for you", and I added that I am interested in the other big companies in this industry - basically their arch-rivals (is it okay to mention desire to work for rivals? i felt i messed up)
5) they asked about relocation and travel and I said I am very open (which is the truth!) - but again isn't it a bit early to ask about this?
6) whether I was free in the next two weeks, and whether their location is within drivable range and I said yes (so fingers crossed, am I getting an tour and a formal interview)
So bottom line, I have never experienced or heard of such a screening - any input you give on the issue is appreciated!!</p>
<p>This is all pretty standard and you answered appropriately. They wanted to know your salary expectations so they knew how you valued yourself. By telling them you were interviewing elsewhere, they now know that if they want you, they will have to fight for you…i.e. offer you a good package. Relocation is big, and the only correct answer is that you would be willing to relocate. You want to show them why you are worth hiring; it is their job to show you why they are worth working for, not your job to show them you love them.</p>
<p>Good work so far. Be confident in your value.</p>
<p>Alright, today I was contacted by another company, and they asked pretty much the same questions, so it seems a standard process
HOWEVER!!
they asked a new question:
after this guy asked for the salary he asked: “is this the minimum or midpoint or maximum of the range? what factors do you consider when choosing the salary?”</p>
<p>so yes: if asked what are the factors that determine the salary how do you answer?
A) you treat the question financially and say it depends on the benefits package (more-benefits-less-salary kind of thinking)</p>
<p>B) you treat the question professionally and say it depends on the amount of responsibility, and work load i receive (more-work-more-money kind of thinking)</p>
<p>C) you treat it financially again and say that you don’t care about the starting salary as much as yearly bonus increase (more-promised-increase-less-starting-salary kind of thinking)</p>
<p>I mean they ask these questions for fiscal reasons why do I feel that B) is the only correct answer??</p>
<p>Well, in my experience, it has been a question of how you value yourself. Obviously we all want to be worth a million bucks, but we know what is reasonable. When I am considering a salary expectation, I consider the following factors:</p>
<ol>
<li>What is the salary range for the position I am applying for?</li>
<li>How much experience do I have related to this experience, which is to say, how much will the company need to invest in me to get my to the level they expect from an employee? For example, if you are applying to an investment bank and have had an internship that gave you the same experience as a first year full time employee, you will require less training than someone who has only gone to business school, which means that the company will need to invest less time and money into bringing you up to speed with your peers, which means that you should receive a higher salary than someone without the same experience.</li>
<li>How do you value the company and the experience you can get in your job with regard to other positions in the same industry? Consider the following two options. First, there is a large company which will take you in and slowly ease you into the fold. You will earn the experience that would be able to land you a job making, say, $100,000 base salary plus a modest (10-20%) bonus within seven years. Second, there is a smaller company which will give you the requisite training but trusts you to make more crucial decisions earlier, and your experience would probably be able to land you the aforementioned job within five years. Logically, you should ask for more money from the first company than the second, since you would be sacrificing future earnings by accepting a more certain track, whereas you would ask for less from the second because you know you can be put on the fast track to success. Hopefully that makes sense and seems reasonable.</li>
<li>What would you be comfortable accepting? What do you need to live comfortably?</li>
</ol>
<p>If your research tells you that you should ask for $60,000-$65,000 and your company comes back with $50,000, you should use your negotiating skills to get that number up to something you are comfortable with, but don’t let a company name a price for you. You should be aware of your value, and if a company wants you, they will be very agreeable to paying a premium!</p>
<p>All right, I get what you say.
So you mean this is a behavioral-interview-type question, and not at all a fiscal question.
Now this idea I find strange!!
However, If asked in an interview, ‘what do you base your salary estimate on?’ or something close to that, I will reply - diplomatically - that it depends on the responsibility, and how I can exceed your expectations, and do much more than the job description.</p>
<p>By the way, what type of interviewing experience have you had? PM me if you want to keep it discreet - so any info on full time employee (as opposed to internship) interviews will be helpful</p>
<p>Asking you for a salary requirement is not a behavior question. It means the recruiter has a number in mind and if you want 70k but the budget is 50k, they will not waste their time interviewing you.</p>
<p>Also, you really shouldn’t give an exact number. A better option is to give a range. Also, if you are not sure what you want but you really like the job, just tell them you would like to learn more about the position and do a little bit of research before discussing the salary and also mention you are open to suggestions and your salary is negotiable.</p>
<p>Try not to reply “it depends on the job” during an interview. This just tells them you have no idea what the job description is and you did not do your research.</p>