How to Negotiate Salary for Your Next Career Move
A salary negotiation is an arduous process because it requires you to balance what you think you’re worth versus what an employer thinks they can afford. But, if it’s done correctly it can result in positive for both the employer and employee, which results in a higher pay for the employee as well as greater employee engagement in their work. Learn how to make your salary negotiation a success.
Principal Takeaways
- Before you make a salary offer study market rates and industry standards to confirm that your salary proposal is realistic.
- Find out information by connecting with colleagues through online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead time, including education & certificates in the form of years of relevant work knowledge, accomplishments and achievements as well as unique skill sets and qualifications, industry knowledge and potential for training.
- In the course of negotiations, you should be confident and clear, but be flexible and open. You should highlight tangible results you have achieved in previous roles.
- Maintain a positive tone throughout the conversation, and be active in your listening.
Do your research
Before entering into any salary negotiation, you need to conduct a thorough study of the market and standards in the industry to make sure that your salary proposal is reasonable. The factors that could affect this could include levels of experience levels, the size of your company and geographical location. (?). One great way to gather information is to make connections with your colleagues or those who are in the same field of work.
Research Online
With the aid of online resources, such as [LinkedIn Salary] (https http://www. linkedin. com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. Htm) you will get a more substantial approach towards the benchmarking range of salaries businesses pay for the same job. This gives you an idea of the market rate plus few other aspects related to the job.
Your Network is Important
Find out more about your situation by talking with people who have had similar positions, or contacting them through professional networks as well as brainstorming members of professional organizations.
Prepare Talk points
The time spent in preparing for a negotiations is always a good time spent. You’ll be much more confident when presenting your case if you have a clearly defined list of points to discuss in advance.
Here are some suggestions of things that you might want to think about when negotiating your salary:
- Training and certification
- Years of relevant experience
- Results and achievements
- A unique set of skills and characteristics (e.g., bilingualism)
- Industry knowledge
- Training potential
Also keeping notes/notebook handy can assist during conversations to ensure that one doesn’t miss any important points.
Be confident & concise
In a salary negotiation, it’s important to be confident and articulate. Speak clearly about your experiences accomplishments, your job goals and achievements. It’s important to maintain a positive attitude throughout this dialogue so that the person who is hiring you feels that you’re not being aggressive.
Highlight Tangible Results
Simply stating that someone is committed, hardworking, and focused may not be enough for an strong appeal. It is important to present clear and precise data regarding how prior roles have made a significant difference to companies or how valuable are specific qualities that benefit the organization.
Remain flexible
If the employer cannot agree to your requested salary or compensation package Being flexible and open will allow for discussion. You can inquire about alternative incentives like performance-based bonus structures, instead of the Base salary(? ).
Be sure remain professional during the negotiation process - regardless of how successfully or not: getting too defensive or imposing unreasonable demands will likely cause a negative result for everyone who is involved.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Be attentive to the your counterpart during negotiations. Listen to requests carefully and clarifying doubts, if necessary, while maintaining the original request. The goal is to arrive at acceptable outcomes.
Use the lessons you’ve learned away from these conversations and incorporate it into any future negotiations that you’re likely to be involved in. Applying the advice above goes an enormous way to increasing your chances of reaching positive outcomes that are mutually beneficial.
| Your network is important | Have a chat with friends who have had similar experiences or connect with the professional network as well doing brainstorming members within professional organizations. |
| Make talking points | Qualifications and training, Years of relevant experience, Results and accomplishments, unique skill set and qualities (e.g. multilingualism) and industry knowledge. the potential for training |
| Be confident & concise | Be clear about your experience as well as your achievements and expectations. Focus on tangible results. |
| Keep your mind open | Find out about other incentives, such as bonuses based on performance instead of Base salary (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as speaking during these kinds of conversations. Consider what you’ve learned from these discussions and incorporate them into the future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Negotiating salary is discussing and deciding on the compensation package to be paid for your job. When you negotiate this you will be able to discuss not just your salary base, but also other benefits like retirement plans, health insurance, and more.
Why is it important to discuss salary?
Negotiating your salary can give you a greater financial future and show you’re confident about your worth. It can also help you avoid leaving money on the table.
How soon should I negotiate the salary?
It’s best to begin negotiating following the acceptance of an offer to ensure that all parties are informed of what’s being discussed. So, negotiations will focus on securing perfect terms while avoiding unexpected surprise.
What happens if I am completely satisfied with the deal I received with no negotiation?
If you accept an offer and you are satisfied with it, there’s probably no need to discuss it. However, it’s still essential to provide clear information about what the employer will offer with regards to things like compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? changing career paths entirely?
Salary negotiation when changing careers may require more preparation due to the fact that your previous experience might not directly translate or be a part of the new job. Study what similar positions in similar fields offer to have a clear comprehension of realistic expectations for yourself, given your specific circumstances.
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