Salary Negotiations Quiz

13 Questions | By Drjamesmaiden | Updated: Mar 19, 2022 | Attempts: 808

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How much do you know about salary negotiation? Answer these True or False questions to find out.

Questions and Answers

1.

Salary Negotiations affect not only your paycheck, but your performance on the job, too.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
A. True

Explanation
A poorly negotiated salary will generally show up as a poor attitude at work. That affects your performance and your chances for raises or promotions.

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2.

If the employer's offer is significantly higher than your market value, you should accept it and get it in writing right away.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
B. False

Explanation
If you're overpaid, you want to know why. It won't last anyway, so the proper thing to do is accept it, then explore the rationale for the compensation to make sure it's not a mistake.

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3.

Employers often will compute a salary offer to you as a percentage increase over your present earnings. To make the interview process go smoothly, get clarity on that range toward the beginning of the interview process.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
B. False

Explanation
Most employers like to know what you're earning because they're worried that you won't last if they can't give you an increase; however, your best move is to delay any talk of salary until you know what exactly is entailed in the job. Otherwise, you could be screened out as too high or too low.

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4.

Avoid interviewing for jobs whose salary is significantly below your expectations because it wastes both your time and the interviewer's.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
B. False

Explanation
Don't interview just for "practice," but do interview. Explore where or how the job could be expanded to meet your level of competence and compensation.

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5.

At the time of final negotiations, you should start with a number that is at the high end of your range; that way you don't come in too low, and still have room to negotiate.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
B. False

Explanation
At the time of final compensation, you should not start; let them go first.

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6.

Good benefits won't make up for a poor base salary.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
B. False

Explanation
There are many ways benefits and perks can make the whole package acceptable when the base salary is low.

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7.

To find your fair market value, you just need to find what others in similar positions are earning.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
B. False

Explanation
There are multiple components that determine your fair market value.

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8.

Straight commission is the riskiest type of compensation, although you might have to accept it if you are inexperienced in the particular type of sales in question.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
B. False

Explanation
Straight commission is the safest kind of compensation. It is acceptable in many situations, regardless of experience level.

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9.

An average wage earner would add an additional million dollars to his career earnings if salary negotiation skills increased his income ten- percent.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
A. True

Explanation
Ten percent more earnings over a career lifetime adds up to over a million dollars

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10.

You should tell recruiters and employment agents your current compensation in complete detail--even corroborating earnings with W-2s if needed.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
A. True

Explanation
Most of the time, it will give you points for being straightforward. There is some caution about letting your past earnings box you in, though.

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11.

One acceptable way to increase your negotiation leverage is to increase the answer to "What are your present earnings?" Add 10% to your base salary to cover benefits, and add in any anticipated bonuses when you give the employer or recruiter your "number."
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
B. False

Explanation
Inflating your earnings is a bad idea. It has all sorts of potential dangers. The best strategy is to avoid discussion of your earnings at all until there's an offer

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12.

Companies nowadays restrict their managers a percentage-range for raises. The goal in raise negotiations is to get the maximum in that range.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
B. False

Explanation
The goal in a raise negotiation is to exceed that percentage if there's evidence that your market value will support the request. Often, that will look like a change of title which is "exempt" from the percent-range set for raises because it is not a "raise"; it is a new salary for a new job.

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13.

Any one of these questions you answered incorrectly could easily cost you thousands of dollars in a salary or raise negotiation.
- A.
  
  True
- B.
  
  False
- C.
  
  Don't Know
Correct Answer
A. True

Explanation
Any wrong answer could easily cost you thousands. What's worse, still, is that there are easily a hundred salary questions, not just these thirteen, that could cost you big bucks.

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Current Version
Mar 19, 2022

Quiz Edited by
ProProfs Editorial Team
Dec 09, 2009

Quiz Created by
Drjamesmaiden

Salary Negotiations Quiz

Salary Negotiations affect not only your paycheck, but your performance on the job, too.

If the employer's offer is significantly higher than your market value, you should accept it and get it in writing right away.

Employers often will compute a salary offer to you as a percentage increase over your present earnings. To make the interview process go smoothly, get clarity on that range toward the beginning of the interview process.

Avoid interviewing for jobs whose salary is significantly below your expectations because it wastes both your time and the interviewer's.

At the time of final negotiations, you should start with a number that is at the high end of your range; that way you don't come in too low, and still have room to negotiate.

Good benefits won't make up for a poor base salary.

To find your fair market value, you just need to find what others in similar positions are earning.

Straight commission is the riskiest type of compensation, although you might have to accept it if you are inexperienced in the particular type of sales in question.

An average wage earner would add an additional million dollars to his career earnings if salary negotiation skills increased his income ten- percent.

You should tell recruiters and employment agents your current compensation in complete detail--even corroborating earnings with W-2s if needed.

One acceptable way to increase your negotiation leverage is to increase the answer to "What are your present earnings?" Add 10% to your base salary to cover benefits, and add in any anticipated bonuses when you give the employer or recruiter your "number."

Companies nowadays restrict their managers a percentage-range for raises. The goal in raise negotiations is to get the maximum in that range.

Any one of these questions you answered incorrectly could easily cost you thousands of dollars in a salary or raise negotiation.