wow. am i the only one on AF that thinks lying about your current comp is a bad idea? especially if you are legitimately underpaid and essentially moving to a higher profile job. its in the company’s own best interest to pay you what is fair… most good companies know this, and if they dont… do you really want to work there?
Yup, you’re the only one.
silly me
It’s ok…you probably still think there’s nobility in poverty.
Darien, I wholeheartedly agree, I was being sarcastic.
Oh I know, just not sure that nolabird did – trying to support her fragile ego. All4One, 1ForAll kind of thing.
it wouldnt be the first time that turkish’s sarcasm crushed my fragile little ego
Can you advise if you were me? I have this gut feeling that a company will low ball you for several reasons. 1. When you are searching for employment, you are a bit vulnerable. 2. Companies like to minimize costs for obvious reasons. 3. Changing jobs, from what I have heard from others in my situation, usually results in about a 10% increase in wage. Therefore I fear that they will offer something around 38k or so knowing that I’ll probably bite since I really want this job. I agree, lying is never a good means to an end. Can you help?
Did you check out the thread Darien posted?
i would not ‘fudge’ a current salary as it’s very easy to ask for proof and I know a majority of companies will request for proof of your last pay slip etc try to avoid mentioning your current salary but talk about where the market is for this type of position and what you can bring to the role irrespective of your limited experience. Good luck
I think the only argument against disclosing current comp is the fear that the next job will only offer current+10%. That’s groundless. Switching positions entails risk. You need to be compensated for that risk. There’s nothing wrong with saying: I currently make X, I would need 1.3X to burn my current bridge.
Here’s the thing, if you’re going to “fudge” your current salary, be prepared to lose the position based on them doing a background check. I’d put the chances on them checking on your current salary at about 13.6%. I’ve had many interviews in my day and have only been asked, “What is your current compensation?” a handful of times. Usually it’s more along the lines of, “What comp are you expecting?”
Thanks so much everyone. I’m heading out shortly. I’ll post a follow up of the interview later. Wish me luck!
So go figure, I prep for interest rate and monetary policy scenario questions and he does not ask any. And go figure, the last question was on salary! So I was honest and told him the $32k. Then he asked my expectation and I said low $40s. I’m already kicking myself for how I handled it. I didn’t want to appear greedy. However my answer did not appear out of range. The person interviewing went to my same college and we built rapport that way. He did say I did a great job and asked what sort of notice I need to give my current employer. I’m feeling very good. Thanks for the help everyone. Any last bit advice incase I get a callback (which I’m thinking yes)? The next interview would be with the VP of Asset/Liability Management. I have been told that the final interview that the decison has basically been made and the highest up wants to simply make sure you’re alright to work with.
I think what I might have said (i probably should’ve said this earlier), when asked about salary, is: “I’ve done a lot of research to see what a competitive salary would be for this particular position/duties this position requires, and a fair number seems like ____” If ____ is in fact within that range, they’ll know that you have done your research as opposed to picking some arbitrary number and would probably feel better about what you were asking for, even if it was a little over their range. I think you still handled it fine though, especially since it seems to be within that range. Just for next time, i guess. Congrats though, hopefully you’ll hear back soon!
KJH–How did you do on your interview?
I think it went really well. Thanks! I listed a rundown of it above ^ There were no scenarios though. I found that odd. The last analyst position I interviewed for the individual bluntly asked, “Describe ROE in your own words, ROA, DCF, etc.” I’m surprised nothing like that came about. Can anyone give me an explaination of what final interview is all about? I have a feeling I will get a call back.
Good deal. Here is the interview update: I talked to the secretaryat at the place and asked about candidates coming in for that position. She said 2 at most have come in and that was a long time ago; none lately. Second I called my friend who is an analyst there and told him about my intentions. He said that position has needed to be filled for quite some while. I know of one more candidate going in on Monday. Unless he’s stellar, I don’t forsee him getting the job. The advantage I have: 1. CFA -They can brag they have a CFA on staff since they have none (99.9% sure of this) 2. Internal Applicant: They like to promote from within when applicable. 3. Computer skills: I know of every program they utilizes. 4. The manager of this postion is 2 years older than me and went to SCSU as well. Therefore I’m very confident an offer will come. However, I’m still very nervous in getting my hopes up. If I don’t get it, I’ll be crushed.
“1. CFA -They can brag they have a CFA on staff since they have none (99.9% sure of this)” Hold the phone, you’re already a charterholder and were thinking about asking for $40,000?