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This question is about salaries.
What does desired compensation mean?
Desired compensation means the salary and benefits you ask for from an employer. An employer may refer to salary or benefits separately as compensation during the hiring process. The desired salary could be hourly or salaried, depending on the type of position a company is hiring for.
A company can offer a variety of benefits to convince applicants to apply and work for their company. Examples of benefits can include:
Paid time off
Health, dental, and vision insurance
Life insurance
Disability insurance
Healthcare spending or reimbursement accounts
401K, retirement, or pension plan options
Flexible work schedules or telecommuting options
Relocation assistance
Employee discounts or perks programs
Bonus programs
Stock options
Employers usually specify that they want to know your desired salary. Employers ask you about desired compensation during an interview so they can get a feel if your answer aligns with their expectations for the position.
Consider the salary and benefits on your job application as an added incentive to work at the company. You only receive compensation from your employer if you sign an offer letter. It also helps to study the industry and the average salaries for the position you are interviewing for.
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