How to answer "what was your salary / bonus" in interviews?

Hi,

The question about current salary and bonus can indeed be sensitive during interviews. Here are some strategies to consider:

• Should you disclose salary/bonus information: It's generally advisable to avoid disclosing your current salary and bonus, especially if you feel it may not align with your market value or if you're seeking a significant increase in compensation. Instead, focus on the value you can bring to the role and the market rate for the position you're applying for.
• Addressing the question smartly: You can politely deflect the question and shift the focus to your future expectations and desired compensation. For example, you can respond by saying, "I prefer to focus on the value I can bring to this role and the market rate for someone with my experience and skills. I'm confident that we can come to a mutually beneficial agreement on compensation."
• Confidentiality: If pressed for an exact figure, you can state that the specific details of your bonus are confidential. You can explain that you are under an obligation to maintain confidentiality regarding the specifics of your compensation arrangement.
• Emphasize your value: During the interview, highlight your skills, experiences, and achievements that make you a strong candidate for the position. Emphasize the value you can bring to the company, your relevant accomplishments, and how your expertise aligns with the role's requirements. This will help shift the focus from your current compensation to your potential contributions.
• Research market rates: Conduct thorough research to understand the market rate for the position you're applying for. This will help you have a clear understanding of what would be a fair and competitive compensation package. You can use this information to negotiate effectively if an offer is extended to you.

The goal is to redirect the conversation towards your skills, qualifications, and the value you can bring to the role. By focusing on your potential contributions and market value, you can navigate the salary/bonus question tactfully while still advocating for fair compensation.

/Marvin

Hi there,

1) Should I disclose salary / bonus information? If not, any smart ways to address the question?

If you don’t want to disclose it, you might provide a range for your current firm in general. This might also keep margins for negotiation later on.

2) On the bonus part, is it sensible to say the exact figure is “confidential”?

If the bonus is really confidential according to your contract, you can say so.

If it is not, I would first provide a range for that as well as suggested by Benjamin. If they still ask for details, you might say that yours was “in line with the average / above average” (assuming that’s true). This should probably be enough in most situations.

Please note that they might also ask for a payslip before sending a contract to check if what you shared was correct.

Good luck!

Francesco

Hi there, 

I'd say two things:

1. It's confidential

2. As a consequence, I can only provide ranges. Then provide generous ranges :)

They can't really go against that. 

And of course, be honest. In case they request payslips later on that will make for a very unpleasant discussion.

Best,
Cristian

Hi there,

If it were me? I would say that's illegal to ask and I would not answer.

But that's because I don't have much to lose and don't let people cross lines they shouldn't cross.

(1) Should I disclose salary / bonus information? If not, any smart ways to address the question?

Given you're coming from MBB and have a high salary + bonus (%), I'm not sure why you wouldn't give it. If you don't want to, you can say that the firm you're work for doesn't allow for it, or you don't feel comfortable disclosing, OR you can state your salary expectations for the new role.

(2) On the bonus part, is it sensible to say the exact figure is “confidential”? Typically after I said bonus is normally 20%, the hiring manager would further ask what was the exact figure this year. 

Sure. And yes you can say the %. If they push, you can push back or answer.

These are all your choices here. We don't know you and your background well enough and there are pros and cons with each approach. Ultimately, it's about what you feel comfortable with. You don't seem to feel comfortable answering, so you shouldn't, as long as you understand it *may* risk the offer. 

There's also right ways and wrong ways to verbalize this, but there are a lot of different scenarios/questions that need to be played out here…just remember it's possible to be firm, but polite. It's possible to not give the answer while also not lying. It's possible to use political language that neither offends nor reveals.

Hi,

I'm inferring that your context is you are currently in MBB applying to industry/another job. I too was asked similar questions when I was exploring exit opportunities. Couple of suggestions and thoughts assuming you can't avoid it by saying its confidential

(1) Should I disclose salary / bonus information? If not, any smart ways to address the question?

• You could try to give a range of total comp and not split up salary and bonus
• Depending on how generous you are with the range, you could actually make it such that it will hard for the recruiter to tell if you were an average performer or good performer (assuming you are at a post-MBA role and below)

(2) On the bonus part, is it sensible to say the exact figure is “confidential”? Typically after I said bonus is normally 20%, the hiring manager would further ask what was the exact figure this year

• I would again give a range if forced to give a number
• While the typical performance ranges are fairly standard, there are always a few additional % that are due to firm performance, firm contribution etc
• Thus similar to the above, you could try to give a more generous range

I have also shared my payslip before - but in my experience this is only for firms or opportunities where I was in very serious discussions/considerations and not just exploratory mode.

All the best!

Hi there, 

here my thoughts..

1. Disclose? Would disclose ranges only and use vague-enough statements to not lose your leverage, especially if you work for a firm that has no standard salary per career level. When working for up-or-out consulting firms, IBs etc (= firms with standard salaries) it's fine to be more precise, as it's fairly public domain anyway.
2. Bonus comms? Also here, use a range - usually sufficient for most employers + it reflects reality. They don't usually ask this to figure out your but to see if your expectation is in line with what they (can) typically offer. 

Hope this helps.

Regards, Andi