Getting weekly compensation (2024)

FAQs

How should you answer compensation questions? ›

Consider giving a salary range, not a number

If a job post asks applicants to state their expected salary when applying for the position, then give a range — not a specific figure — you're comfortable with. Answers like “Negotiable” might work, but they can also make you look evasive.

When making your compensation expectation statement during an interview, consider offering high compensation as your answer. If you expect an amount close to what you researched, offering a higher amount can show your potential employer that you've researched and understand the industry.

Firstly: Total compensation should include both base salary and additional benefits such as bonuses, stock options, and other incentives. When considering a good fit for a role, both the employer and the employee should look to consider the total compensation on offer.

"On the application, I selected a salary range of $40,000 to $50,000. I believe this is appropriate for my skills and experience level. I am open to negotiation regarding the salary and benefits for this position and look forward to discussing this with you further."

I'm excited to join your company and think I can bring tremendous value to your organization. I am a bit concerned about the salary offer though. It seems a little low compared to the average market value for this role for people with x number of years of experience (or training in x way, or x degree, etc.).

The best and simplest tactic for answering this question is to offer a salary range you'd be willing to accept rather than a set amount. A range is much more likely to fit into their budget for the role, and it lets the employer compare you better against other candidates.

The conversational, positive ask

“I'm really excited about this opportunity. If we decide to work together, I'm sure we'd find a salary that matches the value I'll bring to your organization. Can you give me an idea what you've already budgeted for this position?”

Total Compensation – this includes the sum of all your monetary take-home earnings, such as base salary, performance bonuses, equity, and sign-on incentives. An easy way to think about what's included in your total compensation is any earnings that you'll typically need to pay taxes on at the end of the year.

What is your desired total compensation? ›

Desired compensation is the salary and benefits you ask for from an employer. An employer may refer to salary or benefits separately as compensation during the hiring process. Desired salary could be hourly or salaried depending on the type of position a company is hiring for.

Sample Answer:

Considering my level of experience and the responsibilities associated with the position, I would anticipate a salary range of [insert range]. However, I am also interested in the overall compensation package, which includes benefits, bonuses, and opportunities for growth.

Be confident when answering: Some employers are interested in your answer and your delivery. Don't provide an exact number: A set amount can indicate you aren't open to negotiations. Explain your reasoning: Highlighting your experience or your educational level can add justification for your salary.

In the workplace, compensation is what is earned by employees. It includes salary or wages in addition to commission and any incentives or perks that come with the given employee's position.

Dear [Recipient's Name], I am writing to request compensation for [state the reason for compensation], which occurred on [date]. The incident resulted in [state how you were affected] and I have incurred [state the amount of money you spent, if applicable] due to the inconvenience.

When you do decide to discuss wages, don't mention a specific figure – provide your preferred salary range instead. Showing that you're flexible is the first step towards negotiating a pay packet that's viable for your employer and reflects your ambitions.