Latest / Interview Prep with Fexingo: Behavioral Questions, Case Studies, and Hiring Manager Insights / How to Answer the What Are Your Salary Expectations Question
Transcript
- Lucas: So it's episode 50 for Interview Prep with Fexingo, and I thought we should tackle the question that probably makes more people sweat than any other in the whole process: 'What are your salary expectations?' Luna: Oh, the one everyone dreads. And there's so much conflicting advice out there — some people say never give a number, others say be transparent. Lucas: Right. And the advice to never give a number sounds good in theory, but in practice, I've sat on the hiring side of the table, and if you deflect three times, I'm going to assume you're either not serious or you're going to price yourself out and waste my time. Luna: So you're on team 'give a number' then? Lucas: I'm on team 'give a well-researched range.' The key is preparation. Let's say you're interviewing for a product manager role at a mid-size SaaS company. You should know — before you ever walk into the room — what the market pays for that role in that city at that level. Use something like Levels.fyi or Glassdoor, but filter by location and years of experience. Luna: That makes sense. But what if the range is huge? I've seen PM salaries in San Francisco from $120,000 to $200,000. Lucas: Then you narrow it. A friend of mine — let's call her Sarah — was interviewing for a senior marketing role at a Series B startup in Austin. She looked at comparable companies, filtered by headcount and funding stage, and came up with a range of $130,000 to $150,000. When the recruiter asked, she said: 'Based on my research and experience, I'm targeting a base salary between $130,000 and $150,000.' That's honest, it's specific, and it anchors the conversation. Luna: And it leaves room — if they come in at $130,000, she's fine; if they come in at $150,000, she's thrilled. But what if they say 'we're looking at $110,000 max'? Lucas: Then you have a decision point. And you need to know your walk-away number. That's the lowest number you'd accept and still be excited to join. Not the lowest you'd technically take because you're desperate — the lowest where you'd still feel good about the decision. Luna: I've heard advice that you should always make the other person say the first number. Is that just bad? Lucas: It's not bad, it's just overrated. If the interviewer asks directly, you can't dodge forever. But you can flip it: 'I'm happy to share my expectations, but first, could you tell me the budgeted range for this role?' That's a polite counter-question, and it often works. In fact, in a survey from Glassdoor last year, about 60% of recruiters said they're willing to share the range if asked directly. Luna: That's a good stat. So the script is: research first, then if asked, give a range, and if you're really nervous, try to get them to name their range first. Lucas: Exactly. But let's talk about a nuance: when to talk about total compensation versus base salary. A lot of candidates forget about equity, bonuses, and benefits. If you say 'I want $150,000,' and they're thinking $130,000 base plus $20,000 bonus and options, you might be aligned. So I always recommend framing it as 'total compensation' unless they specifically ask for base. Luna: Right — especially at startups. That $20,000 in options could be worth nothing or a lot. So how do you value that on the spot? Lucas: You don't. You say: 'I'd like to understand the full package including equity and bonus before I give a precise number.' That buys you time. And honestly, if it's a really early-stage company, you might want to look at equity valuation tools like Option Impact or just ask for the 409A valuation — that's the fair market value per share. Luna: Okay, so let's say you've done all that. You give your range, and they say, 'That's above our budget.' Now what? Lucas: First, don't panic. Ask: 'Is that number firm, or is there flexibility based on experience?' Sometimes they have wiggle room. If it's truly firm, you have to decide: can you accept their max? If not, thank them for their time and move on. That's hard, but it's better than taking a job you'll resent. Luna: I had a friend who did that — walked away from a role because the budget was $20,000 below her floor. Three weeks later, they called back and matched her number. They'd found someone else but it didn't work out. Lucas: That happens more often than you'd think. The key is to be professional and leave the door open. Say: 'I really appreciate the offer, and I'm excited about the role. Unfortunately, the compensation doesn't quite align with my expectations. If anything changes, I'd love to reconsider.' That's gracious and it keeps the door ajar. Luna: So what about the common question: 'What are you currently making?' That's banned in some states now, but not everywhere. Lucas: If you're in a state where it's legal, you can still deflect. 'I prefer to focus on the value I can bring to this role rather than my past salary.' But some companies will press. In that case, you can give a range that's higher than your current salary, but based on market data. I'm not a fan of lying — it can come back to bite you if they do a background check or ask for pay stubs. Luna: Yeah, integrity matters. So the bottom line: come with data, give a range, know your walk-away number, and don't be afraid to ask about their budget. Lucas: Exactly. And one last thing: practice. Say it out loud. Record yourself. The way you deliver the number matters — if you sound hesitant or apologetic, they'll think you're unsure. Be confident: 'Based on my research, I'm targeting a range of X to Y.' It's not a demand, it's a data point. Luna: I like that framing — 'it's a data point.' Takes the emotion out. Lucas: And if we've helped you think through a career move or a negotiation, honestly, if today was worth a coffee to you, that's the link — buy me a coffee dot com slash fexingo. Luna: Yeah, it's a small way to keep the show ad-free and focused on what actually helps people. Lucas: Totally. So to wrap up: next time you're in an interview and the salary question comes up, remember — research, range, walk-away number. You've got this.