This video provides guidance on how product managers should respond to the common interview question, "What are your salary expectations?" The speaker outlines different strategies depending on the stage of the interview process (application, phone screen, offer negotiation) and emphasizes the importance of reframing the conversation to focus on factors beyond just compensation.
Addressing Salary Expectations in Job Applications: When the salary question is on a job application, the video recommends leaving the field blank, writing "negotiable," or specifying "market rates." If forced to give a number, the advice is to anchor high, but within a realistic range based on research.
Handling the Salary Question During Phone Screens: The speaker advises reframing the question during a phone screen. Instead of directly stating salary expectations, the focus should shift to aligning on important elements like company mission, values, team, product, and company/product stage. The goal is to convey that these factors are more important than immediate compensation and to establish a strong mutual fit before salary discussions begin.
Negotiating Salary During the Offer Stage: The recommended strategy during offer negotiation is a tit-for-tat approach. This involves actively engaging in a reciprocal information exchange with the recruiter. The advice is to first try to elicit information about the company's compensation range for the role (base pay, bonus, equity) before disclosing your own expectations. The overall goal is discovery; to understand the company's willingness to invest in the role.
Aspects of the Job to Prioritize Beyond Compensation: The video stresses that aspects beyond compensation should be prioritized during salary discussions. These include the company's mission, the state of the product, the team itself, and the manager. The speaker emphasizes identifying the elements most important to the individual and aligning on those before discussing salary specifics.
