How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it requires you to balance what you consider your worth and what an employer thinks they’re able to pay. However, if done correctly it could be positive for both the employer and employee, which results in a better salary for the employee and greater engagement of the employee in their job. Here’s how you can make your salary negotiation a success.
Important Takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to make sure that your salary request is realistic.
- Gather information through networking with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Create talking points ahead of the time, including education and certification and years of relevant knowledge, accomplishments and achievements, unique skill set & qualifications, industry knowledge and training potential.
- During the negotiation, you must be confident and clear, but be flexible and open. Show tangible results that you achieved in your previous roles.
- Maintain a positive tone throughout the conversation and make sure you are listening actively.
Do your research
Before entering into any salary negotiation, it’s important to do thorough research on the market and standards in the industry to make sure your salary offer is reasonable. Things that may affect the amount you are offered could be your experience levels, the size of your company, and location (?). One way to gather information is to make connections with colleagues or other professionals in your chosen area of work.
Research Online
With the help of online sources, like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. https://www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can obtain a more comprehensive information about the benchmarking range of salaries companies pay for the same job. It will provide you with an idea of the market prices and also other aspects related to the position.
Your Network is Vital
Get insight from talking to people who have had similar positions, or contacting them via professionally-oriented networks as well as brainstorming members of professional organizations.
Create Talk points
Preparing for any negotiation is always well spent. You’ll feel much more confident when giving your argument if you are prepared with a specific list of points to discuss ahead of time.
Here are a few ideas of things that you might want to think about including in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Achievements and results
- Particular skill set and traits (e.g. bilingualism)
- Know-how in the field
- Training potential
Also keeping notes/notebook handy can also help during conversations so that one doesn’t miss any important points.
Be confident & concise
In a salary negotiation it’s crucial to appear confident and articulate. Be clear about your experience accomplishments, your job goals and achievements. It is important to keep a positive attitude throughout this discussion so that the employer feels like you’re not appearing to be aggressive.
Highlight Tangible Results
Simply stating that one is driven, hardworking, and aspire-driven person may not be enough to make an strong appeal. So put forward clear statistics on how previous roles made significant difference to companies or how valuable are specific skills that help an organisation.
Remain flexible
If your employer cannot agree to your requested salary or compensation package, remaining flexible and open-minded can allow room for dialog. You can inquire about alternative incentive options such as performance-based bonuses or structures, instead of Base salary(? ).
Make sure to remain professional throughout the negotiation process no matter how well or badly it’s going being too combative or making unreasonable demands could result in an unfavourable outcome for everyone that is.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Pay attention to other party during negotiations hearing the amount requested carefully and clarifying doubts, if necessary, while gently sticking with what you originally requested. Both parties should ultimately achieve satisfactory results.
Consider the lessons you’ve learned from these discussions and apply it to future negotiations you’ll likely take part in. By following the suggestions above, you will go in the right direction to increase the chance of achieving mutually beneficial outcomes.
| Your network is important | Speak to friends who have held similar roles or reaching out through the professional network as well as brainstorming members within professional organizations. |
| Create talking points | Certification and education, Years of relevant experience and accomplishments, unique skills and characteristics (e.g. bi-lingualism), Industry knowledge, Training potential |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Be flexible | Find out about other incentives, such as the performance-based bonuses instead of Base salary (?). You must remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally as important as communicating in these kinds of conversations. You can take the lessons you’ve learned from these conversations and apply it to future negotiations that you’re likely to take part in. |
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Frequently Asked Questions
What is salary negotiation?
Negotiating salary is discussing and deciding on the compensation plan for a particular job. When you negotiate this it is possible to discuss not just your salary base, but also other benefits like health insurance, retirement plans, and more.
Why is it necessary to bargain on salary?
Negotiating your pay can provide you a better financial future as well as show that you’re aware of what you’re worth. It also helps you not leave money on the table.
When should I begin to negotiate a salary?
It is best to begin negotiations following the acceptance of an offer to ensure that all parties are aware of what is being discussed. In this way, negotiations will focus on securing optimal terms and avoid surprises.
What if I am happy with the package I was offered without negotiating?
If you accept an offer and you are satisfied with it, there’s no need to discuss it. It’s nevertheless important to be clear about what the employer will offer with regards to things like rewards based on performance or reimbursements for career training.
Do I have the option of negotiating my salary when I change careers entirely?
Negotiating salary when you change career paths may require added planning because your prior experiences may not be directly applicable or overlap with new responsibilities. Find out what similar jobs in similar industries pay in order to get a solid comprehension of realistic expectations for you, considering the particular circumstances you face.
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