How to answer one of the trickiest job interview questions about money

"It's often a game of who'll blink first, but it's well worth trying, using a great deal of diplomacy: 'Well I'm flexible on salary. The position and its growth potential are much more important to me than compensation. Would you be willing to share the rough salary range you have in mind for this position?'" Taylor suggests.

The interviewer might be easy on you and give you a ballpark. In the worst case, they'll say, in effect, "I asked you first," putting you back in the hot seat.

If you think your desired salary is too high, inquire about other compensation factors, such as 401(k)s or vacation policies, versus a higher or equal salary. If your salary is extremely below market (one of the reasons you may be leaving your current job), explain why.

"Maybe you've taken on greater responsibility lately, which isn't yet reflected in your salary, or your department has downsized," says Taylor. "You don't want to alarm the interviewer into believing you're underqualified."

Either way, you're adding depth and context to your answer, versus a terse answer: "I make X." "You're also dialing down the 'deal killer meter' by inviting discussion, talking up your strengths and asking questions," she says.

Keep in mind that this is one of those opportunities to judge the hiring manager, too, Taylor says. "Do they give you a chance to explain your larger objectives beyond salary, or rush to judgment? A good prospective boss will listen with interest to your true long-term goals. A bad boss will practically abort the interview if you're even slightly outside the salary parameters — end of story," she explains. In the latter case, you might have just dodged a big bullet.

If your hiring manager is steadfast and lobs the ball back in your court, just answer truthfully, says Taylor. "But it's good practice to immediately put back emphasis on the position itself, as an addendum: 'Compensation is certainly important, but I'm really looking for other factors in my next job, too — such as growth potential and making a difference with a great product and team. Perhaps you can you tell me what is budgeted for the position and we can discuss it?'"

Whatever you do, don't tell mistruths or exaggerate about your current salary — up or down; it could backfire through a little investigation, she says. "Not only could you lose the opportunity, it could damage your professional reputation."

By placing more emphasis on your passion for the position and how you can contribute to their bottom line (i.e., make them money) — versus your salary — you will have their attention and maximize your bargaining power, she says.

"With some advance preparation and the proper strategy, you can warm up this chilly question with a two-way conversation that leads to a meeting of the minds," Taylor concludes.