How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an extremely difficult process, since it involves balancing what you consider your worth and what an employer thinks they’ll be able to afford. If done properly it can be a positive experience for both sides that results in a higher pay for the employee and a greater employee engagement in their work. 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 make sure that your salary proposal is realistic.
- Find out information by the networking of colleagues, using online tools like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Prepare talking points ahead of time, including education and certifications in the form of years of relevant work experience, results & achievements, unique skill set & capabilities, knowledge of the industry, and potential for training.
- During the negotiation, be assertive and confident, yet flexible and open-minded. Highlight tangible results that you’ve had in your previous positions.
- Keep a positive attitude throughout the conversation and practice active listening.
Do your research
Before you enter any salary negotiation, it’s important to conduct thorough research on current market rates and industry standards to ensure that your salary request is reasonable. Factors that might impact this include your experience degree, size of the company and the location of the company. (?). One way to gather information is to network with colleagues and others within your job field.
Research Online
With the help of online resources, such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can obtain a an extensive view of the benchmarking range of salary businesses are providing for same job. This will give you an idea of the current market rate and a few other aspects related to the position.
Your Network Is Vital
Get insight from talking to people who have had similar roles or reaching out via professionally-oriented networks and brainstorming with professionals in professional organizations.
Make talking points
Preparing for any meeting is time well spent. You’ll be much more confident when the presentation of your case if have a clear outline of your talking points in advance.
Here are a few instances of what you could consider to include in your salary negotiation:
- Education & certification
- Years of relevant experience
- Results and achievements
- Unique skill set and qualities (e.g., bilingualism)
- Industry-specific knowledge
- Potential for training
A notepad or notebook can be helpful during conversations so that one doesn’t miss any important information.
Be confident & concise
In a salary negotiation it is essential to be confident and clear. Speak clearly about your experiences accomplishments, your job goals and achievements. It’s essential to maintain a positive attitude throughout this discussion so that the employer isn’t seeming insecure.
Highlight the tangible results
Simply saying that you are determined, hardworking and focused may not be enough to create an impactful appeal. Make sure to provide precise statistics on how previous roles made significant difference to companies or the value of specific qualities which benefit organisation
Be flexible
If your employer isn’t able to your salary or compensation package outright being flexible and open will help open the door to dialogue. You can inquire about alternative rewards, like performance-based bonus models instead of the Base salary(? ).
You must remain professional throughout the negotiation - no matter how well or poorly it’s going: fighting too much or making unreasonable demands could have a negative impact for everybody that is.
Practice active listening
Listening is as crucial as communicating during these kinds of conversations. Listen attentively from the your counterpart during negotiations. Listen to the amount requested carefully and clarifying doubts if at all while maintaining the what you originally requested. The goal is to arrive at acceptable outcomes.
Take what you have learned from these discussions and apply it to future negotiations that you’re likely to be involved in. Following the tips above goes in the right direction to increase your chances of achieving positive outcomes that are mutually beneficial.
| Your network is important | Talk to your friends who have held similar roles or reaching out through networking networks for professionals as well as brainstorming members of professional associations. |
| Create talking points | Training and certification, years of relevant experience, Performance and achievements, Unique skills and characteristics (e.g. the ability to speak two languages) Knowledge of the industry, the potential for training |
| Be confident & concise | Speak clearly about your experiences accomplishments, job goals and achievements. Make sure you highlight tangible results. |
| Keep your mind open | You can inquire about alternative incentives such as the performance-based bonuses instead of Base salary. (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is just as important as communicating in these kinds of conversations. Consider what you’ve learned from these conversations and incorporate them into future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
It is the act of discussing and deciding on the compensation package for a job. Through this process, you can discuss not only the base salary, but also other benefits like retirement plans, health insurance as well as other benefits.
Why is it so important to negotiate a salary?
Negotiating your salary will give you a greater financial future and show you’re confident about your worth. It will also allow you to avoid putting money on the table.
When should I start negotiating my salary?
It is best to begin negotiations following the acceptance of an offer to ensure everyone is conscious of what’s being discussed. So, discussions are focused on negotiating the best terms, while avoiding any unpleasant surprises.
What if I am content with the offer without negotiation?
If you accept an offer and are pleased with the offer, then there’s no reason to discuss it. However, it’s still essential to have transparent communication about what your employer’s expectations regarding things such as performance-based bonuses or career-training reimbursements.
Can I negotiate salary when changing careers?
Salary negotiation when changing careers may require more preparation because your past experience might not directly translate or relate to the new duties. Learn about the salaries similar to those in related industries pay, to develop a thorough understanding of realistic expectations for you, considering your particular situation.
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