“Where do you want to be in five years?”

This week's blog comes from Jennifer Howe, Executive Manager Client Development at Trevor-Roberts.

This is one of the most common interview questions asked of job candidates. In fact, I was asked this question in one of a comprehensive series of interviews to enter IBM’s graduate recruitment program in the early 1990’s. With youthful bravado I responded to the Sales Manager with “in your job” – obviously showing the right level of ambition as I was hired. In reality, I didn’t have a definitive answer to that question and still don’t.

There are many hiring managers around who believe that potential employment candidates must have a fixed and suitably ambitious career plan to be credible. The fear is, that if they don’t have a ready answer such as “I want to a Financial Controller in two years and a CFO in five”, they lack motivation and drive.

Career goals, like all goals, play a very important role. As Alice in Wonderland so nicely put it "If you don't know where you're going, any road will get you there.” However, many people (and certainly most university graduates) don’t know what jobs are out there, or which jobs they will be best suited to. And the jobs that are out there today will be different again in five years’ time – some will have disappeared and new ones will have taken their place. Unforeseen career opportunities will present themselves which need to be recognised and then seized with both hands if they are right for you.

I see it as more helpful to set career “aspirations” than to have a pre-defined career path. If you want to work overseas you need to become skilled in an area which increases your employability in other countries, or join a multinational company or government organisation that offers international transfers or assignments.  Develop a list of job “attributes” you seek, such as the ability to influence corporate direction, or not being desk-bound, or having regular opportunity to present to large groups. These can guide your career direction without being prescriptive about the job.

A smart, capable and ambitious graduate being interviewed today may not know what they want to be in five years, but could be the best hire the company ever made. This graduate could turn the question back to the interviewer and justifiably ask “where could I be if I worked for this organisation for five years?”.

As long as “Where do you want to be in five years?” continues to be asked in interviews, you should be authentic to your own career aspirations whilst talking into account your understanding of the organisation’s expectations for that role.  Once you are in the job, be ready to recognise and grab those great opportunities that help you achieve your career aspirations.

Why it pays to be a good salary negotiator.

Our last blog focused on Salary Negotiation.  Some of the feedback we received from clients who read the blog was that they wanted more practical advice on what to say and when to say it.

 

“Negotiation does not begin until you have a written job offer in hand.  If an offer is not made, you don’t negotiate and you definitely keep your job search active.”

Charles H Logue

 

The time to discuss salary is in the final interview stage.  It’s important to give your employer a chance to get to know you, to see how well you would fit into their company culture and to give yourself a chance to outshine the other applicants. Conversely, why discuss salary until you are really sure that this is the place you want to work?

Keep your cool, don’t be the first to raise the salary issue.  There is an old adage that whoever discusses salary first, generally loses the salary negotiation in the end.

 

Remember that in a salary negotiation, everything is negotiable.  Think of the overall salary package as a long sheet of options.  At the top are your base salary, superannuation, bonus and other monetary items.  Underneath this is a long list of items that you will need to quantify in advance, so that you know the exact dollar value of each.  Work out the value of everything on the list, including shares, parking at your new location, FBT, Novated lease for your partner, health insurance, discounted loans, health club membership, study leave, rostered day off, childcare, study assistance, etc.

 

Remember it’s the take home pay after tax that is the most important.

 

Another item that you may want to add to your negotiation list is annual leave.  It can be very restorative to take a break between finishing your current role and starting your next role.  Perhaps taking 2 weeks off is more important to you than negotiating extra salary.   These upfront negotiations are the time to mention this.

 

Remember that the goal of any negotiation is to achieve a win-win outcome.  You will need to be prepared to compromise some of your negotiation items.  Keep your ideal salary in mind as well as your lowest acceptable figure.  Make sure that all verbal discussions are followed up in writing.

 

Another element to keep in mind in salary negotiation is pace.  Hiring feelings can cool quickly.  Don’t take too long to decide, and make sure you respond to all communications promptly and politely.  Don’t waste your prospective employer’s time.

 

In the event you can’t reach an agreement, conclude your negotiations quickly and make sure you reiterate your enthusiasm for the role.  The hiring manager may find it difficult to find a better candidate than you in which case you could end up being the successful applicant after all.