How Much Are You Worth?

One of the biggest challenges faced by fresh graduates is transitioning to life as a professional. While there are more resources available to the graduates of today, including more job and career opportunities to pursue, there are still obstacles to overcome along the way.

A lot of fresh graduates struggle to give the correct salary expectation when asked in an interview. This is a mistake you want to avoid; setting a salary too low could lead to having a bad start in your career. So, how much are you worth? What is the perfect answer to give when asked about your salary expectation? Let’s find out, shall we?

How Much Are You Worth?

Check the Salary Range

Ideally, a job ad also includes a salary range. The range can be broad, but it gives applicants – including you – a clearer picture of what to expect when applying for the position. When you see a salary range in a job ad, setting your salary expectation is a lot easier.

You want to be somewhere in the middle – a bit closer to the top – of that salary range. When the range says $30,000 to $45,000, for example, you can set your salary expectation at $40,000 or $42,500. This gives you room to negotiate and you will end up with an annual salary that matches your expectation perfectly.

The salary range will also reflect the level of experience required by the position, so career opportunities for fresh graduates will have their salary range set with fresh graduates in mind. You simply need to be within that range.

Go with the Average

Finding out the median salary for a position used to be difficult. People don’t like talking about their salary and it is tricky to get a clear, accurate estimate of how much you should ask for the position. Today, however, you have plenty of resources to help you get a better idea of the median salary for a job.

Sites such as Salary Site don’t just give you access to the average figures. They also offer insights on experience level, career progressions, and the requirements you have to meet to qualify for the job and its rewards. You can get a very accurate average in just a couple of clicks.

You can then choose to go with the average. Similar to the previous approach, make sure you leave enough room to negotiate.

Consider the Factors

The last – and perhaps the most difficult – approach is by weighing the responsibilities of the job and determining the amount of salary that you think is fair. Professionals usually add up to 20% to their previous salary as a benchmark, but this isn’t something you can do when you’re a fresh graduate with no prior job experience. As an alternative, you can ask others working in the same field for pointers.

When a job requires you to handle a lot of things, asking for a higher salary is the way to go. The scope of the role and the career potentials to expect from the position are also factors you need to take into account when deciding how much you are worth. With these tips in mind, finding the perfect answer to an interview question about your expected salary should be easier.