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. If done properly, it can be positive for both parties, resulting in a higher pay for the employee, as well as greater satisfaction for the employees in their work. Here’s how you can negotiate your salary with confidence.
Key Takeaways
- Before you negotiate your salary study market rates and industry standards to ensure that the salary you request is reasonable.
- Collect information through connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Make a list of talking points ahead time, including education and accreditation as well as years of relevant experience, results & achievements, unique skill set & qualifications, industry knowledge and training opportunities.
- During the negotiation, be assured and confident but remain flexible and open-minded. Highlight tangible results that you have achieved in previous roles.
- Maintain a positive tone throughout the conversation and engage in active listening.
Do your research
Before you enter any negotiations regarding salary, it’s essential to conduct thorough research on market rates and industry standards to ensure that your salary request is realistic. Some factors that can affect this could include levels of experience level, company size as well as location. (?). One great way to gather data is to connect with colleagues and others in your chosen area of work.
Research Online
With the help of some online resources such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a more substantial approach towards the range of benchmarking salaries that companies offer for the exact job. This will give you an idea of the market rates and other elements that are related to the job.
Your Network is Important
Get insight from talking to colleagues who have been in similar roles, or reaching out through professional networks in addition to brainstorming professionals in professional organizations.
Create talking points
The time spent in preparing for a meeting is time well spent. You’ll feel much more confident when giving your argument if you have a clear set of talking points outlined in advance.
Here are some suggestions of things that you might consider including in your salary negotiation:
- Training and certification
- Years of relevant experience
- Performances and results
- Unique skill set and qualities (e.g. the ability to speak two languages)
- Industry-specific knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure that one doesn’t forget any important points.
Be confident & concise
When you negotiate your salary it’s crucial to appear confident and articulate. Talk clearly about your work experience accomplishments, your job goals and achievements. It is important to keep an optimistic tone throughout the discussion so that the employer isn’t coming across as insecure.
The Key to Tangible Results
Simply stating that one is committed, hardworking, and goal-oriented may not be enough to create an impactful appeal. Therefore, provide clear data regarding the ways in which previous jobs made an impact in the workplace or how valuable are specific capabilities which benefit organisation
Remain flexible
If your employer isn’t able to agree to your salary or compensation arrangement being flexible and open will allow for dialogue. It is possible to inquire about alternatives to incentives, such as performance-based bonus models instead of the Base salary(? ).
Be sure remain professional throughout the negotiation - regardless of how well or poorly it’s going being too combative or making unreasonable demands is likely to cause a negative result for all parties who is involved.
Practice active listening
Listening is just as important as speaking during these kinds of conversations. Listen attentively from the any other participant during negotiations, observing specific requests and resolving doubts if at all while keeping to the their original request. Ultimately both parties should arrive at acceptable outcomes.
Take what you have learned away from these conversations and incorporate them into future negotiations that you’re likely to be involved in. Following the tips above goes an enormous way to increasing your chances of reaching positive outcomes that are mutually beneficial.
| Your Network is Important | Talk to your friends who have had similar experiences or reach out to the professional network as well as brainstorming members of professional associations. |
| Plan talking points | Certification and education, Years of relevant experience, Results and accomplishments, Unique ability and traits (e.g. bi-lingualism) Know-how in the field, Training potential |
| Be confident & concise | Be clear about your experience as well as your achievements and expectations. Make sure you highlight tangible results. |
| Stay flexible | Find out about other incentives, such as bonuses based on performance instead of Base salary (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is as crucial in these types of conversations. Take what you have learned away 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?
Negotiating salary is negotiating and finalizing the compensation package to be paid for your job. In this negotiation it is possible to discuss not just your salary base, but also other benefits, such as retirement plans, health insurance and much more.
Why is it so important to negotiate a salary?
Negotiating your salary could give you a better financial future and also show that you’re aware of what you’re worth. It also helps you keep money off the table.
What is the best time to negotiate a salary?
It is best to begin negotiations after you have received an offer, so everyone is aware of the terms being discussed. In this way, discussions are focused on negotiating ideal terms while avoiding surprises.
What happens if I am satisfied with the deal I received without negotiation?
If you receive an offer and are pleased with it, there’s probably no need to bargain. However, it’s essential to communicate clearly what your employer’s expectations with regards to things like performance-based bonuses or career-training reimbursements.
What is the best way to negotiate my salary? switching careers completely?
Negotiating your salary after changing careers may require more planning because your prior experience might not directly translate or encapsulate new responsibilities. Find out what similar jobs in related fields pay in order to get a solid comprehension of realistic expectations for yourself, given your particular situation.
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