It's perfectly natural to want to jump at the first offer that comes along, especially in this economy. We do not want to let go of a job opportunity and many a time it is not prudent to do so. But at the same time, there?s no point in taking a job that won't pay the bills. That wastes everybody?s time and can lead to frustration as well as financial problems down the road ? and it can be a short road if a little more thought isn?t given to what is required to stay afloat economically.

One of the most common questions encountered by job seekers is ??What should I say when asked to define salary requirements?? Job seekers all across the globe face this situation and they are in a quandary to quote the right salary. It is important to remember to establish a realistic salary range that reflects your actual income requirements.

Once you?ve done that, the whole process of finding a job becomes much easier, because you know how low you can go and can therefore eliminate prospective jobs that fall outside your range.

Develop a budget

If you had thought it is easy to decide the amount of salary you are going to quote ? think again. You need to do some research to come up with your realistic salary range. This is a must and very important ? for this exercise will not only help you to come up with the right salary range, it will also tell you a lot about your lifestyle and the kind of necessary/unnecessary expenses you indulge in. It will serve as an indicator.

Take a hard look at your living expenses. Which are fixed? Which are variable? Which are discretionary? Whip out the old cheque book and start adding up fixed expenses, such as a mortgage payment, rent payment or car payment the predictable ongoing expenses.

Add in the variables, like a 12-month average of electric bills, telephone bills and grocery bills. Finally, do a monthly average of discretionary expenses, stuff like entertainment, travel, gifts and credit card purchases.

Add all that up, and you should have a fairly accurate picture of what it costs each month to maintain your present standard of living. This is the amount of take-home money you must earn to at least maintain your financial status quo.

While that number may not represent the salary level you want, it will tell you the amount of income below which you cannot go without making some budget cuts.

Trim the fat

Speaking of budget cuts, depending on your personal financial situation, consider some reductions within the discretionary section of your monthly expenses. It may be necessary if you?ve been out of work for an extended period of time.

Set realistic expectations

Many people seem to get caught up in the ?they're not offering what I?m worth? syndrome. And without doubt this is fast becoming a common phenomena amongst professionals. You must understand that brooding has never helped anyone and it will certainly not help you in getting the right job with the right pay.

It will be prudent on your part to realise that it?s a buyer?s market, and what you may think you?re worth really doesn?t matter as much as what the prospective employer thinks the job is worth.

Determine your range

Once you?ve determined your salary requirements to keep body and soul together, make that the bottom of your range, and add about 10K to that number to establish the top of your range. Some will argue that you should add 20K to establish the top of your range, but where you put that top amount depends on how willing and able you are to negotiate once an offer is made.

Now, if you?re asked to provide salary information as part of the application process, you can do it without worrying about pricing yourself out of the market or grabbing a job that won?t pay the bills.

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