How to Negotiate Salary for Your Next Career Move
A salary negotiation can be a difficult conversation, as it involves balancing what believe you’re worth with what your employer believes they can afford. But, if it’s done correctly it could be a positive experience for both parties that results in a better salary for the employee, as well as greater employee engagement in their work. Here’s how to negotiate your salary with confidence.
Key Takeaways
- Before you make a salary offer, research market rates and industry standards to ensure that your salary request is realistic.
- Find out information by the networking of colleagues, using online tools like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of time, including education and accreditation in the form of years of relevant work knowledge, accomplishments and achievements and unique skills capabilities, knowledge of the industry, and training opportunities.
- During the negotiation, be assured and confident but remain flexible and open-minded. Highlight tangible results that you’ve achieved in your previous positions.
- Maintain a positive mood throughout the conversation and make sure you are listening actively.
Do your research
Before entering into any negotiations regarding salary, it’s essential to conduct thorough research on current market rates and industry standards to ensure that your salary request is reasonable. Some factors that can affect this include the level of experience, levels, the size of your company and the location of the company. (?). Another great method to gather data is to connect with colleagues or other professionals who are in the same field of work.
Research Online
With the help of online sources, like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. htm) you can obtain a an extensive view of the benchmarking range of salaries companies pay for the same role which will gives you an idea of the current market rate and a few other factors related to a job.
Your Network is Important
Learn more by talking to people who have had similar positions, or contacting them via professionals networks and brainstorming with members within professional organizations.
Make talking points
Time spent preparing for any negotiation is always well spent. You’ll feel more confident in giving your argument if you are prepared with a specific list of points to discuss before the deadline.
Here are a few ideas of things that you might want to think about to include in your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- Results and achievements
- Particular skill set and traits (e.g. bilingualism)
- Industry knowledge
- Training potential
Notes and notebooks can be helpful during conversations so that one doesn’t forget any important information.
Be confident & concise
In a salary negotiation it’s crucial to appear confident and articulate. Make sure you are clear about your past experiences as well as your achievements and expectations for the job. It’s essential to maintain a positive tone throughout this discussion so that the employer feels like you’re not seeming hostile.
Show tangible results
Simply stating one is ambitious, hardworking, and aspire-driven person may not be enough to generate an appealing appeal. Make sure to provide precise statistics regarding how prior roles have made a significant difference to companies or how important are certain abilities that benefit the organization.
Remain flexible
If your employer isn’t able to agree to your requested salary or compensation plan in full being flexible and open will help open the door to discussions. You could ask about alternatives to incentives, such as performance-based bonus structures instead of Base salary(? ).
Keep your cool throughout the negotiation process regardless of how well or badly it’s going being too combative or imposing unreasonable demands is likely to lead to a negative outcome for everybody that is.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Do listen actively from other party during negotiations hearing requested amount carefully & clarifying doubts, if necessary, while maintaining the original request. Ultimately both parties should arrive at acceptable outcomes.
Consider the lessons you’ve learned from these conversations and incorporate it into the next negotiations that you’re likely to be involved in. Applying the advice above goes far in maximizing your chances of reaching an agreement that is mutually beneficial.
| Your Network is Important | Have a chat with friends who have been in similar positions or reach out via the professional network as well doing brainstorming members within professional organizations. |
| Make talking points | Qualifications and training, Years of relevant experience, Results and achievements, unique ability and traits (e.g., bilingualism) Knowledge of the industry, Potential for training |
| Be confident & concise | Be clear about your experience, achievements and job expectations. Make sure you highlight tangible results. |
| Keep your mind open | Find out about other incentives, such as bonuses based on performance instead of Base salary. (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is just as important as speaking during these kinds of conversations. Learn from these discussions and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently Answered Questions
What is salary negotiation?
Negotiating salary is discussing and deciding on the compensation package for a position. In this negotiation you are able to discuss more than just your salary base, but also other benefits like health insurance, retirement plans, and more.
Why is it important to negotiate salary?
Negotiating your salary could give you a better financial future and also show that you are aware of your worth. This can help you avoid putting money on the table.
What is the best time to negotiate a salary?
It is best to begin negotiations after you have received an offer, so that everyone is aware of the terms being discussed. This way, the negotiations will focus on securing optimal terms and avoid surprise.
What if I am happy with the deal I received without negotiating?
If you receive an offer and are pleased with the offer, then there’s probably no need to negotiate. But it’s important to communicate clearly what the employers are willing to offer regarding things such as the performance-based bonus or career-training reimbursements.
What is the best way to negotiate my salary? I change careers entirely?
Negotiating your salary after changing careers may require more training because your previous work experience may not directly translate or be a part of the new job. Research what similar roles in related fields pay in order to get a solid understanding of realistic expectations for yourself, in light of your particular situation.
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