How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it involves balancing what think you’re worth versus the amount an employer believes they can afford. However, if done correctly it can be positive for both parties, resulting in a higher pay for the employee and a greater employees’ engagement in their jobs. Learn how to make your salary negotiation a success.
Key Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to confirm that the salary you request is reasonable.
- Find out information by the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Plan your talk points ahead of time, including education & certifications and years of relevant experience, the results and achievements and unique skills qualities, industry knowledge, and potential for training.
- During the negotiation, be confident and clear, but be flexible and open. Show tangible results that you achieved in your previous positions.
- Maintain a positive tone throughout the conversation and engage in active listening.
Do your research
Prior to entering any negotiations regarding salary, it’s essential to conduct a thorough investigation of current market rates and industry standards to make sure that your salary proposal is realistic. Factors that might impact this may include levels of experience levels, the size of your company and geographical location. (?). One way to gather data is to connect with colleagues or other professionals within your job field.
Research Online
With the help of some online resources such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. Htm) you can get an extensive view of the salary range that benchmarking companies pay for the same job. This gives you an idea of the current market rate and a few other facets of the position.
Your Network is Vital
Gain insight by speaking to friends who have held similar roles or reaching out via professional networks as well doing brainstorming members within professional organizations.
Make talking points
Preparing for a meeting is time well spent. You’ll feel more confident when giving your argument if you have a clear set of talk points that you have outlined before the deadline.
Here are some instances of items you could consider when negotiating your salary:
- Education and certification
- Years of relevant experience
- Achievements and results
- Particular skill set and traits (e.g. the ability to speak two languages)
- Know-how in the field
- Training potential
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure that one doesn’t miss any important details.
Be confident & concise
In a salary negotiation, it’s important to be confident and clear. Talk clearly about your work experience as well as your achievements and expectations for the job. It’s essential to maintain your tone of voice positive throughout the conversation so that the person who is hiring you feels that you’re not coming across as insecure.
Highlight the tangible results
Simply stating that someone is driven, hardworking, and focused may not be enough to create an impactful appeal. Make sure to provide precise statistics about how your previous positions made a distinction in businesses or the value of specific qualities which benefit organisation
Keep your mind open
If the employer isn’t able to your salary request or compensation package being flexible and open will help open the door to discussions. You can inquire about alternatives to incentives, such as performance-based bonus models instead of the Base salary(? ).
You must remain professional throughout the negotiation - no matter how well or badly it’s going fighting too much or making unreasonable demands will likely lead to a negative outcome for everyone involved.
Practice active listening
Listening is as crucial as communicating in these types of conversations. Be attentive to the another party while you negotiate, listening to the requested amount carefully & clarifying doubts if at all while gently sticking with initial request. In the end, both parties must come out with acceptable results.
Take what you have learned from these discussions and apply it to future negotiations that you’re likely to be involved in. The tips mentioned above will go an enormous way to increasing your chances of achieving positive, mutually beneficial results.
| Your network is important | Have a chat with friends who have been in similar positions or reach out via professional networks as well as brainstorming members of professional associations. |
| Create talking points | Training and certification, years of relevant experience, Results and accomplishments, Unique ability and traits (e.g. multilingualism) and industry knowledge. ability to train |
| Be confident & concise | Make sure you are clear about your experience accomplishments, job goals and achievements. Highlight Tangible Results. |
| Remain flexible | Ask about alternative incentives like the performance-based bonuses instead of Base salary. (?). Make sure to remain professional during the negotiation. |
| Practice active listening | Listening is equally important as speaking during these kinds of conversations. Take what you have learned from these conversations and apply it to future conversations you’ll probably be involved in. |
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Frequently asked questions
What is the concept of salary negotiation?
The process involves negotiating and deciding on the compensation package for a job. During this process, you can discuss not only the base salary, but also benefits like health insurance, retirement plans and many more.
Why is it so important to negotiate salary?
Negotiating your salary can give you a better financial future and show you know your worth. This can help you keep money off the table.
When should I start negotiating the salary?
It’s best to begin negotiating following the acceptance of an offer to ensure everyone is informed of what’s being negotiated. In this way, discussions are focused on negotiating optimal terms and avoid unintentional surprises.
What if I am content with the deal I received with no negotiation?
If you are offered a job and are pleased with it, there’s no reason to negotiate. However, it’s still essential to communicate clearly what employers will provide in the form of the performance-based bonus or career-training reimbursements.
Can I negotiate salary when changing careers?
Salary negotiation when changing career paths could require additional planning because your prior experiences may not be directly applicable or relate to the new duties. Learn about the salaries similar to those in similar fields pay in order to get a solid knowledge of the realistic expectations you can set for you, based on the particular circumstances you face.
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