Will this employer low ball my salary because i dont make much now?

I currently make 42k a year, applying for a job which I'm not exactly sure what the salary would be, but assuming it would be approximately 10-20k more. During a preliminary phone screening, I was asked for my salary and told it to the HR person. I said I expected a raise shortly, and a 10% bonus at end of year. My concern is that she'll try and low ball my salary offer because I probably make far less than what the job pays. So, my question is whether someone's salary depends more on the job itself or the person's qualifications/current salary. And if its current salary, how can i go about getting closer to the market salary. Finance industry (investment banking operations, near NYC) if that helps.

The worst thing you can do is tell the potential employer how much you currently make. The best advice I can give is when you actually interview for the position, state exactly what you expect to be paid for the position OR try and negotiate more benefits in lieu of a higher salary. If they don't go for either then turn the job down......simple as that.

I made the mistake of telling my current employer how much I made at my last job (during my interview) and more than likely got low-balled by at least 5K - 10K a year......but I wanted to come to Germany so I took it anyways. If you've got the skills and want the job, the employer should meet you somewhere in the middle.

Well many companies have defined job ranges. For example let's say the job you appled for has a starting range of $50,000 a mid point of $75,000 and a max of $100,000. In my experience I could go to mid point in hiring an employee with experience and knowledge that can hit the ground running. So if I had someone apply making $65,000 with all the qualifications I wanted I could go to $75,000 without any questions or having to get approval. In your case it sounds that you are getting a job higher in level than you have so you will probably start at the low end of their scale and he was asking salary to see how you fit in. I generally did not consider bonus since it is just that a bonus and can be based on company performance as much as job performance. Saying that you are expecting a raise soon never made an impression on me because that is almost always said in the interview process.

All part of the negotiation. If you don't know what others at that company earn for the same level of work, you are at a disadvantage. You have to decide what the position is worth to you and stand firm. If you feel like they are low balling you, don't accept the job.

Important to note while negotiating, state your number and do not talk. If they state a number you do not like, do not talk. The first one to speak is in the weaker position. For instance if the person offers you 45k, say nothing. No matter how long the silence lingers. Just let that number hang there. The other person may ask you what you think. Answer someting like, I was waiting to hear the rest of the offer. If they really need you and you are right for the job they will offer more.
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You did not do the wrong thing in answering the salary question, however you need to be on your toes, research comparable positions and find out the average salary, if the offer is lower, bring it up to them and see where it goes.

Keep in mind you do not have to accept any offer they make. I would do some research on the salary you should be making with the education and experience you have. Then I would research the salary range for the position that you are applying for. You will need to take into account the size of the organization, whether there will be supervisory responsibilities, etc. Based on this information you should be able to estimate what you are worth on the market. If they come in low with their offer, it is not out of line to negotiate for a higher salary. If they decline a higher salary, you can could ask for an additional weeks vacation. I would say that if they are truly interested, they will pay you what you are worth which I am guessing is considerably higher than $42K.
Hope this help. Good Luck!