How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an extremely difficult process, since it involves balancing what you consider your worth and what your employer believes they’re able to afford. But, if it’s done correctly it can be a positive experience for both parties that results in a higher pay for the employee as well as greater employees’ engagement in their jobs. Here’s how you can negotiate your salary confidently.
Important Takeaways
- Before you make a salary offer study market rates and industry standards to ensure that your salary request is realistic.
- Find out information by socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Make a list of talking points ahead time, including education and certification and years of relevant experience, the results and achievements, unique skill set & qualities, industry knowledge, and training opportunities.
- During the negotiation, you must be assertive and confident, yet flexible and open-minded. You should highlight tangible results you achieved in your previous positions.
- Maintain a positive tone throughout the conversation, and engage in active listening.
Do your research
Before you enter any salary negotiation, it’s important to do thorough research on market rates and industry standards to ensure that your salary suggestion is realistic. Factors that might impact this could include experience level, company size and the location of the company. (?). A great method of gathering information is through networking with colleagues or other professionals in your chosen profession.
Research Online
With the help of some internet-based resources like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a more substantial approach towards the benchmarking range of salary businesses are providing for same job. This will give you an idea of the current market rate plus few other aspects related to a job.
Your Network is Important
Learn more by talking to acquaintances who have had similar positions, or contacting them via professional networks and brainstorming with members within professional organizations.
Prepare Talk points
The time spent in preparing for a negotiations is always a good time spent. You’ll feel much more confident in making your case if you are prepared with a specific list of points to discuss in advance.
Here are a few ideas of things you might want to think about including in your salary negotiation:
- Certification and education
- Years of relevant experience
- The results and accomplishments
- Particular skill set and traits (e.g. the ability to speak two languages)
- Industry knowledge
- Potential for training
Notes and notebooks can assist during conversations to ensure that you don’t miss any important details.
Be confident & concise
In a salary negotiation it’s crucial to appear confident and clear. Speak clearly about your experiences as well as your achievements and expectations for the job. It’s important to maintain a positive attitude throughout this discussion so that the person who is hiring you feels that you’re not seeming unfriendly.
Highlight Tangible Results
Simply saying that you are ambitious, hardworking, and focused may not be enough to generate an impressive appeal. It is important to present clear and precise data about how your previous positions made a significant difference to companies or the value of specific abilities that can benefit an organization.
Keep your mind open
If the employer isn’t able to your requested salary or compensation arrangement, remaining flexible and open-minded will help open the door to discussion. You may be able to ask for alternatives to incentives, such as performance-based bonus structures instead of Base salary(? ).
Be sure remain professional throughout the negotiation process - no matter how well or badly it’s going getting too defensive or imposing unreasonable demands is likely to have a negative impact for everyone involved.
Practice active listening
Listening is as crucial as speaking during these kinds of conversations. Pay attention to your counterpart during negotiations. Listen to requests carefully and clarifying doubts if at all while maintaining the what you originally requested. Ultimately both parties should be able to reach a satisfactory conclusion.
Learn away from these conversations and incorporate it into the next negotiations that you’re likely to be involved in. Applying the advice above goes an enormous way to increasing your chances of achieving mutually beneficial outcomes.
| Your network is important | Talk to your friends who’ve held similar roles or connect with professionally-oriented networks as well doing brainstorming members of professional associations. |
| Create talking points | Training and certification, years of relevant experience and achievements, Unique skill set and qualities (e.g., bilingualism), Industry knowledge, ability to train |
| Be confident & concise | Make sure you are clear about your experience as well as your achievements and expectations. Make sure you highlight tangible results. |
| Stay flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary. (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as communicating during these types of conversations. You can take the lessons you’ve learned 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 salary negotiation?
Negotiating salary is discussing and finalizing the compensation package for a particular job. In this negotiation you will be able to discuss not only the base salary, but also benefits like retirement plans, health insurance as well as other benefits.
Why is it necessary to discuss salary?
Negotiating your salary can give you a better financial outlook as well as show that you’re aware of what you’re worth. It also helps you avoid leaving money on the table.
How soon should I negotiate my salary?
It is ideal to begin negotiations after you have received an offer, so that everyone is conscious of what’s being discussed. So, negotiations are focused on securing perfect terms while avoiding unexpected unpleasant surprises.
What happens if I am completely satisfied with the offered package with no negotiation?
If you accept an offer and you are satisfied with it, there’s no need to bargain. It’s nevertheless important to be clear about what your employer’s expectations regarding things such as compensation for training or performance-based bonuses.
Do I have the option of negotiating my salary when I change careers entirely?
Negotiating salary when you change career paths can require extra training because your previous work experiences may not be directly applicable or overlap with new responsibilities. Research what similar roles in related fields pay, to develop a thorough knowledge of the realistic expectations you can set for yourself, given your specific circumstances.
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