How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it involves balancing what consider your worth and what the employer thinks they’re able to afford. If it’s done right it can be a positive experience for both sides that results in a higher pay for the employee and a greater engagement of the employee in their job. Here’s how you can negotiate your salary with confidence.
Principal Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure that your salary request is realistic.
- Gather information through connecting with colleagues through online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Create talking points ahead of time, including education & certification and years of relevant knowledge, accomplishments and 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. Bring out tangible results you’ve had in your previous positions.
- Maintain a positive mood throughout the conversation, and engage in active listening.
Do your research
Before you enter any salary negotiation, it’s important to conduct a thorough study of the market and standards in the industry to ensure that your salary request is realistic. The factors that could affect the amount you are offered could be your experience level, company size as well as location. (?). One great way to gather information is through networking with colleagues and others in your chosen profession.
Research Online
With the help of some internet-based resources like [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. Htm) you can get more substantial approach towards the salary range that benchmarking businesses pay for the same job. This gives you an idea about current market rate and a few other factors related to an employment.
Your Network Is Vital
Gain insight by speaking to friends who have held similar roles or reaching out via professionally-oriented networks in addition to brainstorming members of professional organizations.
Prepare Talking points
Preparing for a negotiation is always time well spent. You’ll feel more confident in presenting your case if you are prepared with a specific outline of your talking points before the deadline.
Here are some suggestions of what you may want to consider including in your salary negotiation:
- Certification and education
- Years of relevant experience
- Results and achievements
- Particular skill set and traits (e.g. the ability to speak two languages)
- Industry-specific knowledge
- Training potential
Also keeping notes/notebook handy can 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. Make sure you are clear about your past experiences, achievements and job expectations. It’s important to maintain a positive tone throughout this conversation so that the person who is hiring you feels that you’re not being aggressive.
The Key to Tangible Results
Simply stating one is determined, hardworking and goal-oriented might not be enough to generate an appealing appeal. It is important to present clear and precise data about how your previous positions made a an impact in the workplace or how important are certain skills that help an organisation.
Be flexible
If the employer isn’t able to agree to your salary or compensation plan in full being flexible and open will allow for dialog. It is possible to inquire about alternative incentive options such as performance-based bonuses or arrangements instead of Base salary(? ).
You must remain professional during the negotiation process - regardless of how smoothly or poorly it’s going getting too defensive or imposing unreasonable demands is likely to lead to a negative outcome for everybody that is.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Listen attentively from the other party during negotiations hearing requests carefully and clarifying doubts, if necessary, while maintaining the their original request. Ultimately both parties should arrive at acceptable outcomes.
Consider the lessons you’ve learned from these conversations and incorporate them into future talks you’re likely to participate in. Applying the advice above goes an enormous way to increasing the chances of achieving an agreement that is mutually beneficial.
| Your network is important | Have a chat with friends who have been in similar positions or connect with professionally-oriented networks in addition to brainstorming members of professional associations. |
| Make talking points | Certification and education, Years of relevant experience and accomplishments, Unique abilities and skills (e.g. bi-lingualism), Industry knowledge, Training potential |
| Be confident & concise | Speak clearly about your experiences your accomplishments and expectations for the job. 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 as important as speaking during these kinds of conversations. Consider what you’ve learned from these discussions and incorporate them into the future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
It is the act of negotiating and deciding on the compensation package for a particular job. Through this process you will be able to discuss not just your salary base, but also other benefits like health insurance, retirement plans and much more.
Why is it important to bargain on salary?
Negotiating your salary will give you a better financial outlook as well as indicate that you’re aware of what you’re worth. It also helps you keep money off the table.
When should I begin to negotiate my salary?
It is recommended to begin negotiations after receiving an offer so that all parties are aware of the terms being discussed. This way, the negotiations will focus on securing the best terms, while avoiding any unintentional surprises.
What happens if I am completely satisfied with the offered package without negotiating?
If you receive an offer and are content with it, there’s no need to discuss it. However, it’s still essential to have transparent communication about what your employer’s expectations in terms of things like rewards based on performance or reimbursements for career training.
Can I negotiate salary when changing career paths entirely?
Negotiating your salary after changing career paths may require added training because your previous work experiences might not translate or be a part of the new job. Find out what similar jobs in similar fields pay to gain a robust knowledge of the realistic expectations you can set for yourself, given your specific circumstances.
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