How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an arduous process because it involves balancing what you believe you’re worth with what an employer thinks they’re able to afford. If done properly it could be a positive experience for both parties, resulting in a greater salary for the employee and greater employee engagement in their work. Here’s how you can bargain your salary in confidence.
The most important takeaways
- Before you negotiate your salary, research market rates and industry standards to ensure that your salary request is realistic.
- Gather information through connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Plan your talk points ahead of the time, including education and accreditation in the form of years of relevant work knowledge, accomplishments and achievements and unique skills abilities, industry expertise, and the potential for further training.
- During the negotiation, be assured and confident but remain flexible and open-minded. Show tangible results that you’ve achieved in your previous roles.
- Keep a positive attitude throughout the conversation and be active in your listening.
Do your research
Before you begin any pay negotiation, it’s crucial to conduct thorough research on standard industry rates and market rates to ensure that your salary request is realistic. The factors that could affect the amount you are offered could be the level of experience, degree, size of the company and the location of the company. (?). A great method of gathering information is to network with your colleagues or those who are in the same field of work.
Research Online
With the help of some online resources, such as [LinkedIn Salary] (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. htm) you can obtain a an additional perspective on the benchmarking range of salary businesses pay for the same job. It will provide you with an idea of current market rate and a few other factors related to the position.
Your Network Is Essential
Gain insight by speaking to friends who have held similar roles or reaching out via professional networks as well as brainstorming members within professional organizations.
Plan Talking points
Time spent preparing for any negotiation is always well spent. You’ll be more confident when the presentation of your case if have a clearly defined set of talk points that you have outlined before the deadline.
Here are a few examples of what you could consider to include in your salary negotiation:
- Certification and education
- Years of relevant experience
- Achievements and results
- Unique skill set and qualities (e.g. bilingualism)
- Industry knowledge
- Potential for training
Notes and notebooks can aid in conversations, so it is not lost important information.
Be confident & concise
In a negotiation for a salary it’s crucial to appear confident and articulate. Speak clearly about your experiences as well as your achievements and expectations for the job. It is important to keep a positive attitude throughout this discussion so that the person who is hiring you feels that you’re not seeming hostile.
Highlight Tangible Results
Simply stating that one is driven, hardworking, and focused may not be enough to create an impressive appeal. So put forward clear statistics about how your previous positions made a significant difference to companies or what are the most valuable skills that can benefit an organization.
Stay flexible
If the employer cannot agree to your salary request or compensation package outright being flexible and open will help open the door to discussions. You may be able to ask for alternative incentives like performance-based bonus models instead of Base salary(? ).
You must remain professional throughout the negotiation process regardless of how well or poorly it’s going: being too combative or making unreasonable demands will likely lead to a negative outcome for all parties affected.
Practice active listening
Listening is just as important as communicating during these types of conversations. Pay attention to your counterpart during negotiations. Listen to the amount requested carefully and clarifying questions if needed, but gently sticking with their original request. The goal is to be able to reach a satisfactory conclusion.
Use the lessons you’ve learned from these discussions and incorporate it into any future discussions you’ll probably be involved in. Following the tips above goes in the right direction to increase your chances of achieving positive outcomes that are mutually beneficial.
| Your Network is Important | Talk to your friends who’ve held similar roles or reach out to professionally-oriented networks as well doing brainstorming members of professional associations. |
| Plan Talk points | Education & certification, Years of relevant experience, Results and achievements, unique abilities and skills (e.g. bi-lingualism), Industry knowledge, Training potential |
| Be confident & concise | Be clear about your experience accomplishments, job goals and achievements. Highlight Tangible Results. |
| Keep your mind open | You can inquire about alternative incentives such as performance-based bonus structures instead of Base salary. (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as communicating during these types of conversations. Learn from these conversations and incorporate them into the future negotiations you’ll likely take part in. |
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Frequently Asked Questions
What is the concept of salary negotiation?
It is the act of negotiating and deciding on the compensation plan for a position. During this process you will be able to discuss not just your salary base, but also benefits like health insurance, retirement plans and many more.
Why why is it important to discuss salary?
Negotiating your salary can give you a better financial outlook and also show that you are aware of your worth. This can help you avoid leaving money on the table.
When should I begin to negotiate a salary?
It is best to begin negotiations after receiving an offer so that all parties are informed of what’s being discussed. In this way, negotiations are focused on securing the best terms, while avoiding any surprise.
What happens if I am completely satisfied with the deal I received without any negotiation?
If you receive an offer and are pleased with the offer, then there’s no need to negotiate. However, it’s still essential to be clear about what employers will provide with regards to things like rewards based on performance or reimbursements for career training.
Can I negotiate my salary if changing career paths entirely?
Salary negotiation when changing career paths could require additional preparation because your past experiences might not translate or relate to the new duties. Study what similar positions in similar industries pay to gain a robust understanding of realistic expectations for you, considering your particular situation.
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