How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it requires you to balance what you believe you’re worth with what an employer thinks they’ll be able to afford. But, if it’s done correctly it can result in positive for both parties, resulting in a higher pay for the employee and a greater satisfaction for the employees in their work. Here’s how to negotiate your salary confidently.
Principal Takeaways
- Before you make a salary offer, research market rates and industry standards to ensure that the salary you request is reasonable.
- Collect information through networking with colleagues, using online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Prepare talking points ahead of the time, including education and certifications, years of relevant experience, results & achievements, unique skill set & capabilities, knowledge of the industry, and training opportunities.
- During the negotiation, you must be confident and articulate but also flexible and open-minded. You should highlight tangible results you achieved in your previous positions.
- Keep a positive attitude throughout the conversation and make sure you are listening actively.
Do your research
Before you enter any salary negotiation, you need to do thorough research on the market and standards in the industry to ensure that your salary suggestion is realistic. Things that may affect the amount you are offered could be your experience degree, size of the company, and location (?). One way to gather information is to network with colleagues or others who are in the same profession.
Research Online
With the help of online resources such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can get an additional perspective on the range of benchmarking salaries companies pay for the same job. It will provide you with an idea about current market prices and also other facets of an employment.
Your Network Is Important
Find out more about your situation by talking with colleagues who have been in similar roles, or reaching out through professionally-oriented networks as well as brainstorming professionals in professional organizations.
Make talking points
The time spent in preparing for a negotiations is always a good time spent. You’ll feel much more confident when giving your argument if you have a clearly defined set of talking points outlined ahead of time.
Here are some examples of things you could consider to include in your salary negotiation:
- Education and certification
- Experience gained through years of relevant work
- Performances and results
- Unique skill set and qualities (e.g. the ability to speak two languages)
- Industry-specific knowledge
- Potential for training
Notes and notebooks can aid in conversations, so that one doesn’t miss any important points.
Be confident & concise
In a salary negotiation it is essential to be confident and clear. Speak clearly about your experiences, achievements and job expectations. It is important to keep a positive tone throughout this conversation to ensure that your employer doesn’t feel like you’re being hostile.
Highlight Tangible Results
Simply saying that you are ambitious, hardworking, and focused may not be enough to create an appealing appeal. It is important to present clear and precise data about how your previous positions made a distinction in businesses or how important are certain skills that benefit the organization.
Remain flexible
If the employer isn’t able to your salary or compensation package outright Being flexible and open can allow room for dialog. You may be able to ask for alternative rewards, like performance-based bonus structures, instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation process regardless of how successfully or poorly it’s going: being too combative or imposing unreasonable demands could result in an unfavourable outcome for all parties affected.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Be attentive to the any other participant during negotiations, observing the amount requested carefully and clarifying doubts, if necessary, while keeping to the what you originally requested. The goal is to achieve satisfactory results.
Learn away from these conversations and incorporate it into any future negotiations you’ll likely take part in. Following the tips above goes far in maximizing your chances of reaching positive outcomes that are mutually beneficial.
| Your Network is Important | Speak to friends who have held similar roles or connect with professionally-oriented networks in addition to brainstorming members within professional organizations. |
| Prepare Talk points | Certification and education, Years of relevant experience, Results and accomplishments, unique skill set and qualities (e.g., bilingualism) and industry knowledge. ability to train |
| Be confident & concise | Be clear about your experience accomplishments, job goals and achievements. Highlight Tangible Results. |
| Stay flexible | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary. (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as speaking during these kinds of conversations. Learn away from these conversations and incorporate it into any future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation plan to be paid for your job. In this negotiation you are able to discuss more than only the base salary, but also additional benefits such as health insurance, retirement plans, and more.
Why is it important to bargain on salary?
Negotiating your pay can provide you a greater financial future as well as indicate that you’re aware of what you’re worth. It also helps you avoid leaving money on the table.
What is the best time to negotiate a salary?
It is ideal to begin negotiations following the acceptance of an offer to ensure everyone is conscious of what’s being discussed. In this way, discussions are focused on negotiating the best terms, while avoiding any surprise.
What if I am content with the package I was offered without negotiation?
If you are offered a job and are content with it, there’s no reason to negotiate. It’s nevertheless important to communicate clearly what your employer’s expectations with regards to things like rewards based on performance or reimbursements for career training.
Can I negotiate salary when I change careers entirely?
Negotiating your salary after changing career paths may require added training because your previous work experience might not directly translate or encapsulate new responsibilities. Find out what similar jobs in similar industries pay in order to get a solid knowledge of the realistic expectations you can set for yourself, in light of your specific circumstances.
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