How do I answer Whats your net worth
I'm new here!
I'm not sure how to answer it. To be frank, it's not much, uh, if anything. LOL. But that's because I've been mostly a secretary all these years and not career oriented (focused on raising a child, which has paid off well and I don't regret it
I also want to know: Why does she want to know this? That I can manage her business well if I have to deal with money? Or does she want to know if I'm good an managing my personal wealth? Or does she want to use my money for her business?!
Also once I just answer her honestly, should I ask her to answer her own question?
Sound advice would be appreciated.
ConfidentialAgent
I am definately not an expert here, but I dont even think that question is ethical. In regards to your current financial situation. I heard of credit records being checked. I know I would not disclose my portfolio to anyone except my broker. Just a thought.
The point of this is not what is the answer because, quite honestly, "none of your freaking business" is the only answer to this question.
The point is this. Interviews are not interrogations but are conversations. In this case I would say, "I'm curious why do you ask?" that would generate a conversation and then I would also ask "how would you verify my or other candidates' answers?" that would lead to another conversation. Finally, I would ask if it mattered what my asset mix was. For example, Would someone with $400,000 in stock concentrated in two companies be looked as as prudent or foolish. What if my assets were in stuffed under my mattress?
Again, when you are in interviews remember that you are in control. The control you have is over the honesty of your answers or if you want to answer the questions at all. Also, know that you are being interviewed because you have already been judged as one who can do the job so you don't even have to try hard to convince them of your qualifications. When you have that confidence then questions are less about the right and wrong answer and the interview is more of a conversation.
If she is legitimate, I imagine she does not want an office manager laundering money from her or jeopardizing her business. In this case, I want to save the opportunity to work for her.
On the other hand, if she's a shady person, I don't want to say a thing because I fear she might be after me!
Your confusing the concept of a credit check with worth of assets. A credit check can verify your ability to manage money and if you choose to subject yourself to that so be it. However, you are suggesting that the question is about net worth. AGAIN, the point is you don't understand the question. Going back to my first post, how will your statement of worth be verified? Will she require you to bring in evidence of the value of a portfolio? A recent appraisal of your house? If so, you are choosing to subject yourself to a pretty invasive screening. And again, what is "financial bum" If, using your example you were going to be in investment sales and your net worth was $500,000 but it was all in US Savings Bonds or a 5 yr cds at 4% return, I bet an investment house would consider you a financial bum... In any case, the question does not reveal an objective appraisal of your knowledge, skills and attitudes. HENCE as a job interviewer it demands you being smart enough to engage your interviewer in a dialogue. To sit there when asked the question and quirp in a perky voice. "Oh I'm worth about $200,000" does nothing to distinguish yourself from the other top teir candidates.
Again, don't get me wrong. the point I am making has nothing to do with the question. My point has to do with an interviewing strategy. On this board every 23 post is "what is the right answer to.... fill in the blank with an off the wall question. There is no right answer to ill-conceived questions that you will hear once in 500 job interviews. The interviewing skill that underlies most of these "what is the right answer questions" is the skill of being able to engage the interviewer in an honest dialogue.
I think you're overthinking this. I have no intention of going into details and, assuming she's a legitimate business person, I doubt she will be too. If she's not, that's my concern. That's what I'm trying to assess by her question; her motive and legitimacy.
You said I did not understand the question but you did not offer an explanation of her question. I did not ask about how to measure one's net worth. That's what you're going off about. That was not my question at all.
My question was also not, as you suggest, "give me a pat answer." Quite the contrary, if you would re-read my post carefully. (But please do not answer if you will be curt again.)
Some key words/phrases again:
- I need advice on how to handle a question...
- Why does she want to know this?
- Or does she want to know if I'm good an managing my personal wealth? Or does she want to use my money for her business?!
- should I ask her to answer her own question?
I have thought this through enough to have my answer for her, however.
Ciao!
My opinion is that she is asking because she is really a CIA operative and you have been tracked by the feds since 9/11 and they are trying to tie your assets to a radical Islamic group operating out of Manilia...
You missed my point, yet again. I answered both how and why. I'll break it down :
How do you handle it: Don't ask us.
Why does she want to know: Ask her.
What did you say when the question actually came up? Did you say "I'll get back to you on that?" Did you say "Why do you ask?" Did you say "I'm not sure I understand what you're asking for, could you explain what you mean?" Did you just give a blank look or spit out some number?
You must have said SOMETHING when it was posed. That was your opportunity to handle the question, not days later after a lot of back and forth here.
Tess
My first thought would be "It's none of her gosh dang buzinez" But, then you mentioned that it was a job in sales with a financial investmetn firm, so they could just want to know if you would be a good risk to not steal from the company, not steal from your clients. (Even though, I have heard that some people only have a high net worth because they do steal from the company and/or clients)
The company could also want to know because if you worked in that position, you would be given an expense account and maybe even a company credit card and they just want to make sure that you are not going to go wild with personal expenses disguised as business.
She might also have wanted to know simply out of curiosity. The person who was previously in the position you were interviewing for may have had a habit of borrowing money and either not repaying it or taking a long time repaying it while borrowing more money from another co-worker.
My office had an "end of professional administrative assistant's week" party today and a couple of the women were talking about smoking. At this point, my boss piped up with an explanation as to why the tables and chairs that had once been in the courtyard had been taken out. It was because the person who used to be in my position would take a 15 minute smoke break every hour, sit in the courtyard stubbing her cigs out on the tables and chairs and then come back in the office reeking to high ceiling fans from her smoke. (I believe she last all of one month before she was fired for not being able to complete her assignments)
It dawned on me at that exact moment why I had been asked by my boss at my interview "Do you smoke?" and when I said "No" my boss said "Oh, thank the lord and glory be". At the time, I couldn't figure out why it was even his business and his reaction was just too funny even though I know it would be extremely insulting to someone who did smoke.
And, yes, actually, I think that I would turn the question around on her, but saying, in jest, "I'll tellyoumine, if youtell me yours". No, maybe that isn't the best idea. I guess I don't know what I would say to her. I don't have the best financial savvy in the world and my bank account, with the exception of my son's college fund, is usually with a balance of anywhere between $5.00 and $20.00 at months end.