Interviewers ask this question to make sure your expectations are in line with the amount they’ve budgeted for the role. If you give a salary range exceedingly lower or higher than the market value of the position, it gives the impression that you don’t know your worth
To start with, everyone gets excited whenever they get asked this question during an interview as its some sort of “you are one way getting hired” While it is of utmost importance to get yourself adequately prepare for skill, behavioural and talent-related interview questions, it is also imperative to prepare for the money aspect of the interview.
Answering this question wrongly could gravely cost you the job. It could also put you in a bad situation if you sell-yourself-short by giving a low salary that is not commensurate to what the company has laid aside for the position you are applying for; more so, you do not want to give an unrealistic salary range that would not take care of your pressing needs and responsibilities.
It is highly important to make a research about the salary of the company you are applying to pay their staff, most especially, the role you are applying for (a range of salary would do, say between N100, 000 to N300, 000, for instance).
To be on a safe side, this is a great opportunity to sell yourself while putting the firm on pressure to make you a fair offer by saying “I’m more interested in finding a position that’s a good fit for my skills and interests. I’m confident that you’re offering a salary that’s competitive in the current market.”
By giving this answer, you are sure to leave a good impression on the interviewers that you are doing your homework on researching the company. Below are typical examples you could tweak to suit you.
“Well, according to my research and past experience, my understanding is that 75-90K per year is typical based on the role and requirements.”
“Since this position is not exactly the same as my current job, let’s discuss what my responsibilities at this company will be and work together to determine a fair salary for this position.”