Compensation may be the most delicate topic and the most unnerving question to be answered when it comes to reaching the enchanting number that is fair and acceptable in the creation of win/win for both employee and employer. Please keep these considerations in mind:
A fair offer is the mindset of most companies:
Employers want to welcome employees with compensation that is both equitable with the pay structure for that role while offering incentive for upward mobility.
Keep your expectations within reason::
Sometimes there is no precedence for the current times. The good old days of speedy spikes in income are gone. The reality is that most organizations are conscious about being consistent. Many companies have peaked in economic growth and competition for better positions has increased. Pay increases of 2% to 7% is reasonable yet not even guaranteed.
It is the right position for me? Period:
Above all, the position and the opportunity is the single most important factor. No amount of money will make a bad job good. What matters most is a quality position within an environment that suits you over any amount of money. Money may be a hook that will eventually have to be cut loose. Ask yourself why some companies are paying above fair market value. What is their motivation?
Compensation comes in different packages. Frame your Salary, bonuses, earning potential based on reviews, benefits, titles, and perks to get the picture.
Stay away from specific a number :
Whenever asked the money question on what you are seeking, avoid quoting a figure. Give it a go with something like this:
“I am aware of what the compensation range is for this particular opportunity and am willing to entertain an offer that you may want to present”
“I am confident that I have what it takes to do this job. I trust that I will be judged fairly on the value that I offer and I am open to entertain a potential offer as I know I am within the range”
By all means, make it your own answer using your own words as you feel most comfortable but be sure to send the message that you are open to hearing an offer.