Of all the dreaded interview questions, this may be the one that I get asked about the most. While I don’t believe it’s one of the best ways to get to know a candidate, it is an old standby that has recently come back into favor so it is definitely worth thinking about how to approach it. This question has a strong reputation of striking fear into the heart of interview candidates, but with a well thought-out approach it can be used to your advantage.
1) Think About What To Highlight
As with all interview answers, you should be doing more than just answering the question as presented: you should be using it as an opportunity to highlight your strengths and unique qualities. So to prepare for this question, think through which qualities you want to highlight for the recruiter or hiring manager. You can work this into your answer by talking about skills you want to build on and areas you want to develop.
2) Show Passion
Beyond using this question as a way to clearly position yourself, it’s also a good opportunity for the interviewer to determine how long you plan on staying in a role. Recruiting and training employees is incredibly expensive*, so companies want to know that you are interested in staying in your field for at least a few years. This is an opportunity to show your passion by talking about the impact you would like to have on the field in the future, as well as what types of work you would like to incorporate into your skill set. This is a great way to show your excitement and commitment to the company and industry of your choice.
3) Keep it General
Rather than stating a specific job, I suggest talking about the things that are important to you and the areas you want to develop in your career. For example, rather than saying, “I want to be the CTO in 5 years,” talk about the goals you would like to achieve in that time. Everyone has a different definition of success, and how you answer this question can illustrate what success means to you. Talking about a specific job title or salary level will indicate that you care a lot about outside recognition or prestige, even if that is not really what you value most. In contrast, discussing what you want to have learned and the impact you want to have can demonstrate that personal development and helping others are important to you. For example, rather than saying you want to be the CTO, say, “I want to be in a role where I can apply my leadership skills and lead other IT professionals to transform the way a company does business. I’m passionate about how IT can increase a company’s success, so in five years I hope to be in a role that allows me to find personal challenge and make a real impact on a company.” Focusing on both what you want personally and on what you can deliver to a company allows you to demonstrate your values and what you offer to the company.
*Average cost of hiring a new employee is 1.5 to 3x his salary. Source.
A raise: everyone wants one, but how to get it? And more importantly, how to ask for a raise without jeopardizing your relationship with your manager. No one wants to come across as money hungry, but the reality is that taking initiative about your career and salary will have a major impact on your lifetime earning.
1) Ask for It
The most common reason that people don’t get the salary they want is because they don’t ask for it. While the unique value you offer to your company is clear to you, it may not always in be in the forefront of your manager’s mind. They likely have other direct reports and other responsibilities to worry about. Many people assume that their hard work will be noticed and rewarded, so they feel that asking for a raise will be unnecessary or have a negative impact on how they are perceived. However, if done calmly and logically, negotiating for a raise could actually improve your manager’s opinion of you. Wouldn’t you want to work with someone who was eager to challenge themselves and confident in their strengths? I know I would.
2) Time it Right
Timing is very important when it comes to increasing your salary. Most people wait until the end of the review period to bring this up, which is a big mistake. By then, you don’t have any more time to prove you are deserving of a higher salary. If there was something specific your manager was hoping to see from you and hasn’t, you won’t have time to correct this. Additionally, there is a lot of review and oversight that goes into setting yearly compensation. Your manager has most likely gone through rounds of reviews with her superiors and gotten approval from HR. If you wait until your review is about to be delivered, chances are your raise (or lack thereof) has already been determined. So, to give yourself time to prove you are deserving of a higher salary, bring up your goals at the beginning of the review period. Be honest about what you you want to achieve in terms of responsibility and salary increases. It’s also a good idea to ask them to be specific about what they want to see from you in order to increase your salary. For example, “I would like to be making $80,00 by this time next year. What do you think my biggest development areas are? Which projects could I work on to build these skills and demonstrate that I can operate at a higher level?” By asking up front, you will ensure you are on the same page about what’s required to move into a bigger role and earn a higher salary. That way, you can spend your time working on what is most important, and by the time your next review period rolls around, you should have a very strong case for getting a raise.
3) Track Your Accomplishments
Once you have had a conversation with your boss and discussed your goals, don’t go silent. Keep the conversation open throughout the review period. Make sure you are checking in with your boss at least once a month to assess your progress. This will help you avoid getting out of sync with them by decision time. It is also incredibly important that you advocate for yourself. No one else is paying as much attention to your accomplishments as you are, so be sure to keep a running list of examples where you were successful. By staying in charge of your own development this way, you will have a tangible record at the end of the year. This is so much more powerful than relying on someone else’s memory and interpretation of events.