How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it is about balancing what you believe you’re worth with what the employer thinks they’re able to afford. If done properly it could be positive for both sides that results in a higher salary for the employee and a greater engagement of the employee in their job. Here’s how to negotiate your salary confidently.
Important Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure your salary request is realistic.
- Gather information through the networking of colleagues, using websites like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead the time, including education and certification and years of relevant experience, results & achievements and unique skills capabilities, knowledge of the industry, and training potential.
- In the course of negotiations, you should be assertive and confident, yet flexible and open-minded. You should highlight tangible results you’ve had in your previous roles.
- Keep a positive attitude throughout the conversation, and engage in active listening.
Do your research
Before you enter any salary negotiation, you need to conduct a thorough study of market rates and industry standards to make sure your salary offer is reasonable. Things that may affect this may include the level of experience, levels, the size of your company and the location of the company. (?). A great method of gathering data is to connect with colleagues or others within your job field.
Research Online
Utilizing internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a an extensive view of the benchmarking range of salary that companies offer for the exact job. This gives you an idea about current market rates and other aspects related to the job.
Your Network Is Important
Learn more by talking to colleagues who have been in similar positions, or contacting them via the professional networks in addition to brainstorming members of professional organizations.
Make Talk points
Time spent preparing for any meeting is time well spent. You’ll be more confident when presenting your case if you are prepared with a specific set of talking points outlined in advance.
Here are a few examples of things you may want to consider to include in your salary negotiation:
- Certification and education
- Years of relevant experience
- The results and accomplishments
- Unique set of skills and attributes (e.g. language proficiency,)
- Industry-specific knowledge
- Training potential
Notes and notebooks can assist during conversations to ensure that one doesn’t miss any important points.
Be confident & concise
In a salary negotiation It is important to be confident and clear. Speak clearly about your experiences of accomplishments and your expectations. It is important to keep a positive tone throughout this dialogue so that the employer isn’t seeming hostile.
Show tangible results
Simply stating one is driven, hardworking, and goal-oriented might not be enough for an impactful appeal. Therefore, provide clear data about how your previous positions made a difference in companies or how valuable are specific capabilities that benefit the organization.
Be flexible
If the employer isn’t able to agree to your salary or compensation package outright being flexible and open will help open the door to dialogue. You may be able to ask for alternative incentive options such as performance-based bonuses or models instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation - regardless of how successfully or poorly it’s going fighting too much or imposing unreasonable demands is likely to lead to a negative outcome for everybody involved.
Practice active listening
Listening is as crucial as communicating during these types of conversations. Listen attentively from the other party during negotiations hearing specific requests and resolving doubts as much as you can while maintaining the their original request. The goal is to come out with acceptable results.
Consider the lessons you’ve learned away from these conversations and apply it to future talks you’re likely to participate in. Following the tips above goes in the right direction to increase the chances of achieving an agreement that is mutually beneficial.
| Your Network is Important | Speak to friends who’ve held similar roles or reach out to the professional network and brainstorming with members within professional organizations. |
| Create Talk points | Education & certification, Years of relevant experience and achievements, Unique ability and traits (e.g. bi-lingualism) and industry knowledge. Training potential |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Highlight Tangible Results. |
| Keep your mind open | Consider alternative incentives such as bonuses based on performance instead of Base salary (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial as communicating during these types of conversations. Take what you have learned from these discussions and incorporate them into the future conversations you’ll probably be involved in. |
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Frequently asked questions
What is salary negotiation?
The process involves negotiating and deciding on the compensation plan for a position. During this process you will be able to discuss not just the salary you earn, but also benefits like retirement plans, health insurance as well as other benefits.
Why is it necessary to negotiate a salary?
Negotiating your salary will give you a greater financial future and also show that you know your worth. It also helps you not leave money on the table.
When should I begin to negotiate the salary?
It’s best to begin negotiating after receiving an offer so that all parties are informed of what’s being negotiated. So, discussions are focused on negotiating ideal terms while avoiding surprises.
What if I am happy with the package I was offered without negotiating?
If you get an offer and are content with it, there’s no reason to bargain. It’s nevertheless important to have transparent communication about what your employer’s expectations with regards to things like compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? I change careers entirely?
The negotiation of salary for changing career paths may require added training because your previous work experience may not directly translate or relate to the new duties. Learn about the salaries similar to those in related industries pay, to develop a thorough idea of what realistic expectations are for you, considering the specific circumstances.
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