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’ll be able to afford. But, if it’s done correctly it could be an enjoyable experience for both sides that results in a better salary for the employee and a greater satisfaction for the employees in their work. Learn how to negotiate your salary confidently.
Important Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure the salary you request is reasonable.
- Find out information by networking with colleagues, using online resources like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Create talking points ahead of the time, including education and certification, years of relevant experience, the results and achievements with a unique set of skills and qualifications, industry knowledge and training opportunities.
- During the negotiation, be confident and articulate but also flexible and open. You should highlight tangible results you achieved in your previous positions.
- Maintain a positive mood throughout the conversation and make sure you are listening actively.
Do your research
Before you enter any salary negotiation, it’s important to conduct thorough research on market rates and industry standards to ensure that your salary request is reasonable. Factors that might impact this could include experience levels, the size of your company and geographical location. (?). One great way to gather information is through networking with your colleagues or those in your chosen area of work.
Research Online
With the help of some online sources, like [LinkedIn Salary] (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a more substantial approach towards the salary range that benchmarking companies pay for the same job. This will give you an idea of the market rates and other elements that are related to the job.
Your Network Is Important
Gain insight by speaking to people who have had similar positions, or contacting them via professionally-oriented networks and brainstorming with members within professional organizations.
Prepare Talking points
Time spent preparing for any meeting is time well spent. You’ll feel more confident in presenting your case if you have a clear outline of your talking points prior to the time.
Here are a few examples of things you could consider to include in your salary negotiation:
- Education & certification
- Years of relevant experience
- Performances and results
- Unique skill set and qualities (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 be helpful during conversations so that one doesn’t forget any important information.
Be confident & concise
In a salary negotiation It is important to be confident and articulate. Make sure you are clear about your past experiences, achievements and job expectations. It is important to keep an optimistic tone throughout the conversation to ensure that your person who is hiring you feels that you’re not being insecure.
Show tangible results
Simply stating that one is driven, hardworking, and goal-oriented may not be enough to create an strong appeal. Make sure to provide precise statistics regarding how prior roles have made a an impact in the workplace or how valuable are specific abilities that benefit the organization.
Keep your mind open
If the employer isn’t able to your salary request or compensation package, remaining flexible and open-minded can allow room for discussion. It is possible to inquire about alternative incentives like performance-based bonus arrangements instead of the Base salary(? ).
Keep your cool throughout the negotiation - regardless of how smoothly or badly it’s going getting too defensive or imposing unreasonable demands will likely lead to a negative outcome for everyone affected.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Pay attention to any other participant during negotiations, observing the amount requested carefully and clarifying questions if needed, but gently sticking with original request. Both parties should ultimately arrive at acceptable outcomes.
Use the lessons you’ve learned away from these conversations and incorporate them into future talks you’re likely to participate in. The tips mentioned above will go an enormous way to increasing your chances of achieving mutually beneficial outcomes.
| Your network is important | Contact friends and acquaintances who’ve held similar roles or reaching out through the professional network as well as brainstorming members within professional organizations. |
| Make talking points | Training and certification, years of relevant experience and accomplishments, unique abilities and skills (e.g., bilingualism), Industry knowledge, the potential for training |
| Be confident & concise | Speak clearly about your experiences accomplishments, job goals and achievements. Make sure you highlight tangible results. |
| Remain flexible | Consider alternative incentives such as incentive structures based on performance rather than Base salary. (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is equally important in these types of conversations. Take what you have learned from these conversations and incorporate it into any future negotiations you’ll likely take part in. |
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Frequently Asked Questions
What is salary negotiation?
It is the act of negotiating and finalizing the compensation package for a position. In this negotiation you are able to discuss more than just your salary base, but also other benefits like health insurance, retirement plans, and more.
Why is it important to negotiate a salary?
Negotiating your pay can provide you a better financial future and also show that you know your worth. It will also allow you to not leave money on the table.
When should I begin to negotiate the salary?
It is ideal to begin negotiations after you have received an offer, so that everyone is conscious of what’s being negotiated. So, negotiations are focused on securing the best terms, while avoiding any surprises.
What if I am content with the offered package without negotiating?
If you accept an offer and are pleased with it, then there may be no need to bargain. However, it’s essential to have transparent communication about what employers will provide regarding things such as rewards based on performance or reimbursements for career training.
Can I negotiate my salary if I change careers entirely?
Salary negotiation when changing careers may require more training because your previous work experiences may not be directly applicable or overlap with new responsibilities. Study what similar positions in similar fields offer to have a clear knowledge of the realistic expectations you can set for you, considering the particular circumstances you face.
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