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 your employer believes they can afford. But, if it’s done correctly it can result in an enjoyable experience for both parties, resulting in a greater salary for the employee and a greater employees’ engagement in their jobs. Here’s how you can negotiate your salary confidently.
Principal Takeaways
- Before you negotiate your salary study market rates and industry standards to confirm that the salary you request is reasonable.
- Collect information through 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 and accreditation in the form of years of relevant work experience, results & achievements with a unique set of skills and capabilities, knowledge of the industry, and the potential for further training.
- During negotiations, be assertive and confident, yet flexible and open-minded. You should highlight tangible results you’ve had in your previous positions.
- Keep a positive attitude throughout the conversation, and be active in your listening.
Do your research
Before you begin any salary negotiation, you need to conduct thorough research on current market rates and industry standards to ensure that your salary request is reasonable. The factors that could affect this include the level of experience, degree, size of the company and geographical location. (?). One way to gather information is to network with colleagues or others within your profession.
Research Online
With the aid of internet-based resources like [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https: //www. linkedin. www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can get an additional perspective on the benchmarking range of salaries businesses are providing for same job. This gives you an idea of current market rate plus few other elements that are related to the position.
Your Network is Important
Learn more by talking to colleagues who have been in similar positions or reaching out via professional networks as well doing brainstorming members of professional associations.
Plan Talking points
Preparing for any negotiations is always a good time spent. You’ll feel more confident when the presentation of your case if have a set of talking points outlined before the deadline.
Here are some suggestions of items you could consider to include in your salary negotiation:
- Education and certification
- Years of relevant experience
- The results and accomplishments
- Particular skill set and traits (e.g., bilingualism)
- Knowledge of the industry
- Potential for training
Also keeping notes/notebook handy can also help during conversations so that you don’t miss any important points.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and articulate. Be clear about your experience, achievements and job expectations. It’s important to maintain a positive attitude throughout this conversation to ensure that your employer isn’t coming across as unfriendly.
Highlight Tangible Results
Simply stating one is determined, hardworking and focused may not be enough for an strong appeal. So put forward clear statistics regarding how prior roles have made a difference in companies or the value of specific skills which benefit organisation
Be flexible
If your employer isn’t able to your salary request or compensation package outright, remaining flexible and open-minded will help open the door to discussion. You can inquire about alternative rewards, like performance-based bonus structures instead of Base salary(? ).
Be sure remain professional throughout the negotiation process - regardless of how smoothly or not: being too combative or imposing unreasonable demands is likely to cause a negative result for everybody that is.
Practice active listening
Listening is as crucial as communicating during these kinds of conversations. Do listen actively from other party during negotiations hearing the amount requested carefully and clarifying doubts as much as you can while maintaining the initial request. Ultimately both parties should be able to reach a satisfactory conclusion.
Use the lessons you’ve learned away from these conversations and incorporate it into the next negotiations you’ll likely take part in. By following the suggestions above, you will go far in maximizing the chance of achieving an agreement that is mutually beneficial.
| Your Network is Important | Talk to your friends who’ve held similar roles or connect with networking networks for professionals in addition to brainstorming members of professional associations. |
| Plan talking points | Education & certification, Years of relevant experience and achievements, unique abilities and skills (e.g. the ability to speak two languages) Know-how in the field, the potential for training |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Make sure you highlight tangible results. |
| Remain flexible | Consider alternative incentives such as incentive structures based on performance rather than Base salary. (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important in these types of conversations. Consider what you’ve learned from these conversations and incorporate them into the future negotiations that you’re likely to take part in. |
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Frequently Answered Questions
What is salary negotiation?
The process involves negotiating and finalizing the compensation package to be paid for your job. During this process it is possible to discuss not only the base salary, but also other benefits, such as health insurance, retirement plans and many more.
Why why is it important to negotiate a salary?
Negotiating your pay can provide you a greater financial future and show you know your worth. It also helps you keep money off the table.
When should I start negotiating for a raise?
It is recommended to begin negotiations after you have received an offer, so that all parties are conscious of what’s being negotiated. This way, the negotiations are focused on securing perfect terms while avoiding unexpected surprise.
What happens if I am completely satisfied with the package I was offered with no negotiation?
If you accept an offer and are pleased with it, then there’s probably no need to negotiate. But it’s important to provide clear information about what employers will provide in the form of rewards based on performance or reimbursements for career training.
What is the best way to negotiate my salary? I change careers entirely?
Negotiating your salary after changing career paths may require added preparation due to the fact that your previous experiences may not be directly applicable or overlap with new responsibilities. Learn about the salaries similar to those in similar industries pay to gain a robust knowledge of the realistic expectations you can set for you, considering your particular situation.
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