How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it involves balancing what believe you’re worth with what the employer thinks they’re able to afford. But, if it’s done correctly, it can be positive for both parties, resulting in a higher salary for the employee and a greater engagement of the employee in their job. Learn how to bargain your salary in confidence.
The most important takeaways
- Before you make a salary offer, research market rates and industry standards to ensure your salary offer is fair.
- Collect information through socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and contacting professional networks.
- Prepare talking points ahead of the time, including education and certificates in the form of years of relevant work experience, results & achievements as well as unique skill sets and qualifications, industry knowledge and training opportunities.
- During the negotiation, be confident and articulate but also flexible and open-minded. You should highlight tangible results you achieved in your previous roles.
- Maintain a positive mood throughout the conversation and make sure you are listening actively.
Do your research
Prior to entering any salary negotiation, you need to conduct thorough research on current market rates and industry standards to make sure your salary offer is reasonable. Some factors that can affect the amount you are offered could be levels of experience degree, size of the company, and location (?). A great method of gathering data is to connect with your colleagues or those within your field of work.
Research Online
With the aid of online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. Htm) You can find a more comprehensive information about the benchmarking range of salary that companies offer for the exact job. It will provide you with an idea of the market rate plus few other elements that are related to a job.
Your Network Is Essential
Learn more by talking to acquaintances who have had similar positions, or contacting them through professionally-oriented networks and brainstorming with members of professional associations.
Prepare talking points
Preparing for a negotiation is always well spent. You’ll feel much more confident in presenting your case if you have a clear outline of your talking points before the deadline.
Here are some suggestions of things you could consider when negotiating your salary:
- Certification and education
- Experience gained through years of relevant work
- The results and accomplishments
- Particular skill set and traits (e.g. the ability to speak two languages)
- Industry knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could be helpful during conversations so it is not lost important details.
Be confident & concise
During a salary negotiation it is essential to be confident and clear. Make sure you are clear about your past experiences accomplishments, your job goals and achievements. It’s important to maintain a positive attitude throughout this conversation to ensure that your employer feels like you’re not coming across as insecure.
Highlight the tangible results
Simply stating that one is driven, hardworking, and goal-oriented might not be enough to create an strong appeal. Therefore, provide clear data on how previous roles made significant difference to companies or how important are certain abilities that help an organisation.
Be flexible
If your employer isn’t able to your salary or compensation package, remaining flexible and open-minded can help create space for discussion. You can inquire about alternative incentive options such as performance-based bonuses or arrangements instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation process - no matter how well or poorly it’s going: being too combative or imposing unreasonable demands could lead to a negative outcome for everyone that is.
Practice active listening
Listening is just as important as communicating in these types of conversations. Be attentive to the your counterpart during negotiations. Listen to requests carefully and clarifying questions if needed, but remaining in the spirit of your what you originally requested. Ultimately both parties should arrive at acceptable outcomes.
Consider the lessons you’ve learned from these discussions and incorporate them into future discussions you’ll probably be involved in. Following the tips above goes in the right direction to increase the chance of achieving positive, mutually beneficial results.
| Your network is important | Talk to your friends who have been in similar positions or reach out via the professional network and brainstorming with members within professional organizations. |
| Create talking points | Education & certification, Years of relevant experience, Results and achievements, Unique ability and traits (e.g. multilingualism) Know-how in the field, the potential for training |
| Be confident & concise | Be clear about your experience your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Stay flexible | Find out about other incentives, such as the performance-based bonuses instead of Base salary (?). Keep your professional conduct during the negotiation process. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. Consider what you’ve learned from these conversations and incorporate them into future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
The process involves discussing and deciding on the compensation plan to be paid for your job. During this process you are able to discuss more than only the base salary, but also other benefits, such as retirement plans, health insurance as well as other benefits.
Why why is it important to negotiate a salary?
Negotiating your salary could give you a better financial outlook and show you know your worth. It can also help you not leave money on the table.
When should I begin to negotiate my salary?
It’s best to begin negotiating after receiving an offer so that all parties are conscious of what’s being negotiated. In this way, negotiations will be focused on securing the best terms, while avoiding any surprises.
What if I am happy with the package I was offered without any negotiation?
If you receive an offer and are happy with it, there’s no reason to discuss it. However, it’s essential to provide clear information about what the employers are willing to offer in terms of things like compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? switching careers completely?
Salary negotiation when changing career paths could require additional training because your previous work experiences might not translate or be a part of the new job. Research what similar roles in related fields pay in order to get a solid comprehension of realistic expectations for you, based on your particular situation.
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