How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an extremely difficult process, since it is about balancing what you believe you’re worth with what an employer thinks they’re able to pay. If it’s done right, it can be an enjoyable experience for both sides that results in a higher pay for the employee, as well as greater employee engagement in their work. Here’s how you can negotiate your salary confidently.
Principal Takeaways
- Before you make a salary offer take a look at market rates and industry standards to confirm that the salary you request is reasonable.
- Find out information by socializing with colleagues, using online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Create talking points ahead of time, including education & certifications as well as years of relevant experience, the results and achievements, unique skill set & qualifications, industry knowledge and training potential.
- In the course of negotiations, you should be assertive and confident, yet flexible and open. You should highlight tangible results you’ve had in your previous roles.
- Maintain a positive mood throughout the conversation, and engage in active listening.
Do your research
Prior to entering any salary negotiation, it’s important to conduct a thorough investigation of the market and standards in the industry to make sure your salary offer is reasonable. Some factors that can affect this include your experience degree, size of the company and geographical location. (?). One great way to gather information is through networking with your colleagues or those within your profession.
Research Online
With the help of internet-based resources like [LinkedIn Salary] (https http://www. linkedin. com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. Htm) you can obtain a an additional perspective on the benchmarking range of salaries companies pay for the same job. This will give you an idea of the current market rate and a few other elements that are related to the position.
Your Network Is Essential
Get insight from talking to colleagues who have been in similar roles or reaching out via professionals networks as well as brainstorming members of professional associations.
Make talking points
Preparing for a meeting is time well spent. You’ll be more confident when giving your argument if you are prepared with a specific set of talk points that you have outlined ahead of time.
Here are a few ideas of things that you could consider to include in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Achievements and results
- Particular skill set and traits (e.g. language proficiency,)
- Know-how in the field
- Potential for training
Notes and notebooks can be helpful during conversations so that one doesn’t forget any important details.
Be confident & concise
In a negotiation for a salary It is important to be confident and articulate. Speak clearly about your experiences, achievements and job expectations. It’s crucial to maintain an optimistic tone throughout the dialogue so that the employer feels like you’re not appearing to be unfriendly.
Highlight Tangible Results
Simply stating one is committed, hardworking, and goal-oriented might not be enough to make an impactful appeal. It is important to present clear and precise data regarding how prior roles have made a difference in companies or the value of specific skills that benefit the organization.
Keep your mind open
If your employer isn’t able to agree to your salary or compensation plan in full being flexible and open will help open the door to dialogue. You can inquire about alternative incentive options such as performance-based bonuses or models instead of Base salary(? ).
You must remain professional throughout the negotiation process - regardless of how well or not: getting too defensive or imposing unreasonable demands can lead to a negative outcome for everyone involved.
Practice active listening
Listening is as crucial as communicating during these types of conversations. Do listen actively from any other participant during negotiations, observing the amount requested carefully and clarifying questions if needed, but maintaining the what you originally requested. In the end, both parties must come out with acceptable results.
Take what you have learned away from these conversations and incorporate it into the next negotiations you’ll likely take part in. Following the tips above goes an enormous way to increasing your chances of reaching an agreement that is mutually beneficial.
| Your network is important | Speak to friends who have held similar roles or connect with networking networks for professionals and brainstorming with members of professional associations. |
| Plan talking points | Certification and education, Years of relevant work experience, results and accomplishments, unique ability and traits (e.g. bi-lingualism) and industry knowledge. ability to train |
| Be confident & concise | Make sure you are clear about your experience accomplishments, job goals and achievements. Make sure you highlight tangible results. |
| Keep your mind open | Consider alternative incentives such as bonuses based on performance instead of Base salary (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is as crucial as speaking during these kinds of conversations. You can take the lessons you’ve learned from these conversations and incorporate it into any future negotiations that you’re likely to take part in. |
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Frequently Asked Questions
What is salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation plan to be paid for your job. During this process, you can discuss not only your base salary but also benefits like retirement plans, health insurance and much more.
Why why is it important to discuss salary?
Negotiating your pay can provide you a better financial outlook as well as indicate that you are aware of your worth. It also helps you avoid leaving money on the table.
What is the best time to negotiate a salary?
It’s best to begin negotiating following the acceptance of an offer to ensure everyone is conscious of what’s being negotiated. In this way, negotiations are focused on securing the best terms, while avoiding any surprise.
What happens if I am completely satisfied with the deal I received with no negotiation?
If you accept an offer and are content with the offer, then there’s no need to discuss it. However, it’s essential to communicate clearly what your employer’s expectations with regards to things like compensation for training or performance-based bonuses.
Can I negotiate salary when changing career paths entirely?
Negotiating salary when you change career paths can require extra planning because your prior experiences may not be directly applicable or overlap with new responsibilities. Research what similar roles in similar fields pay, to develop a thorough idea of what realistic expectations are for yourself, in light of your particular situation.
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