How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it involves balancing what 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 better salary for the employee as well as greater employees’ engagement in their jobs. Here’s how to negotiate your salary confidently.
Key Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure your salary offer is fair.
- Collect information through connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Plan your talk points ahead of time, including education & accreditation and years of relevant experience, the results and achievements and unique skills qualifications, industry knowledge and training potential.
- In the course of negotiations, you should be confident and clear, but be flexible and open-minded. You should highlight tangible results you have achieved in previous roles.
- Keep a positive and upbeat tone throughout the conversation, and engage in active listening.
Do your research
Before you enter any salary negotiation, you need to conduct thorough research on market rates and industry standards to ensure that your salary request is realistic. Factors that might impact this may include your experience degree, size of the company as well as location. (?). Another great method to gather information is through networking with your colleagues or those who are in the same area of work.
Research Online
With the help of internet-based resources like [LinkedIn Salary] (https: //www. linkedin. https://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a more comprehensive information about the range of benchmarking salaries companies pay for the same job. This gives you an idea of current market rates and other aspects related to the position.
Your Network Is Important
Gain insight by speaking to acquaintances who have had similar positions or reaching out through professional networks in addition to brainstorming professionals in professional organizations.
Make talking points
The time spent in preparing for a negotiation is always well spent. You’ll be more confident when making your case if you are prepared with a specific list of points to discuss ahead of time.
Here are a few examples of things that you could consider during your salary negotiation:
- Education and certification
- Experience gained through years of relevant work
- Performances and results
- Particular skill set and traits (e.g. bilingualism)
- Knowledge of the industry
- Potential for training
The idea of keeping a notepad and/or notes handy could also help during conversations so that one doesn’t miss any important details.
Be confident & concise
When you negotiate your salary, it’s important to be confident and articulate. Speak clearly about your experiences, achievements and job expectations. It’s essential to maintain your tone of voice positive throughout the discussion so that the employer isn’t coming across as insecure.
The Key to Tangible Results
Simply saying that you are driven, hardworking, and aspire-driven person may not be enough to create an appealing appeal. Therefore, provide clear data regarding the ways in which previous jobs made an impact in the workplace or how important are certain abilities that can benefit an organization.
Remain flexible
If the employer isn’t able to your requested salary or compensation arrangement being flexible and open will allow for discussion. You can inquire about alternative incentive options such as performance-based bonuses or structures instead of the Base salary(? ).
Make sure to remain professional during the negotiation process - regardless of how smoothly or poorly it’s going being too combative or making unreasonable demands can result in an unfavourable outcome for all parties that is.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Listen attentively from the another party while you negotiate, listening to the requested amount carefully & clarifying questions if needed, but remaining in the spirit of your their original request. Both parties should ultimately be able to reach a satisfactory conclusion.
Take what you have learned from these discussions and apply it to future discussions you’ll probably be involved in. The tips mentioned above will go an enormous way to increasing the chance of achieving an agreement that is mutually beneficial.
| Your Network is Important | Have a chat with friends who have had similar experiences or reach out via the professional network as well as brainstorming members within professional organizations. |
| Prepare Talk points | Certification and education, Years of relevant experience and accomplishments, Unique skill set and qualities (e.g. bi-lingualism) and industry knowledge. Potential for training |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Highlight Tangible Results. |
| Be flexible | Consider alternative incentives such as incentive structures based on performance rather than Base salary. (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is equally as important as communicating in these kinds of conversations. Consider what you’ve learned from these conversations and incorporate them into future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Negotiating salary is discussing and deciding on the compensation package for a job. In this negotiation it is possible to discuss not just your salary base, but also additional benefits such as health insurance, retirement plans, and more.
Why is it important to negotiate salary?
Negotiating your pay can provide you a more secure financial future as well as indicate that you’re aware of what you’re worth. It also helps you avoid leaving money on the table.
When should I begin to negotiate a salary?
It’s best to begin negotiating after you have received an offer, so that everyone is informed of what’s being negotiated. In this way, negotiations are focused on securing ideal terms while avoiding unintentional surprises.
What happens if I am completely satisfied with the offer without negotiating?
If you are offered a job and are pleased with the offer, then there’s probably no need to negotiate. However, it’s still essential to provide clear information about what the employer will offer with regards to things like performance-based bonuses or career-training reimbursements.
Can I negotiate my salary if changing careers?
Negotiating your salary after changing career paths can require extra preparation because your past experience might not directly translate or overlap with new responsibilities. Research what similar roles in similar fields pay in order to get a solid knowledge of the realistic expectations you can set for you, based on the specific circumstances.
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