If this opportunity doesn’t pan out, have you considered just quit your current job, take maybe six months off and then come back to the job market? People who know their sh!t sometimes do just that. You can use that time to work on your RE investments for instance. If your current compensation / age combo is affecting your chances to get a job you really want, being unemployed for a while will reduce that bargaining chip that now is probably working against your interests.
I haven’t had this question in a while, but my suggestion give a number that is the lowest you would consider in order to move, say that that is what it is, but then go on to say that the final figure will depend on what the actual details are of what you are being asked to do turn out to be and what is reasonable compensation for the job requirements. The “how much do you you require” question should inform whether compensation requirements are a non-starter for either party, not a way to lock you into lowballing yourself.
If you know that the new job is just what your old job was, or have a really good idea of what and how much you’ll be asked to do, go ahead and say what you expect for yourself, plus a small cushion for a counteroffer if they try to lowball you.
That is one way to do it… but I’m not ready to quit work without something else lined up. Worse case scenario is I never make it back into the same industry. If I was guaranteed re-entry with a certain minimum pay, then that might be worth consideration.
Also, the short term money does matter somewhat - I will work for 75% of my current comp if it’s a top rate office and there is potential for future upside. 50% cut will probably be too much.
I’ve been interviewing a lot lately and the compensation question has never been asked to me in the same manner twice. I am now in the habit of asking what the comp band is before we start the interview. Most of the responses aren’t helpful, but some recruiters volunteer the information freely. Ultimately, I don’t want to waste my time or the recruiter’s time if there is simply no middle ground.
I never inflate my comp if asked. If they ask me what number I am working towards I will say something along the lines of: “My current base is X, but there are internal opportunities available to me offering additional total comp of $7.5K.” You have to be able to provide some leverage in your direction otherwise most larger firms will only offer you a small raise to jump ships if any.
I had an HR person ask me my requested salary a couple months ago in a phone interview. I gave a target number and flexible base range, which was over the range for the job. She said she might have some higher range positions and said she would call if she found any.
10 minutes later she called with some opportunities and gave me their salary ranges. This was refreshing and rare for HR.
It’s hit or miss in general. Some HR people are good; others just want to fit the square peg in the square hole with no exceptions or deviations.
I just fuggin tell them with a small fudge factor above what I’m actually making. If they balk, I then say, “Why the F would I take a new job to make LESS money.” This question ain’t all that bad.