How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be a difficult conversation, as it requires you to balance what you believe you’re worth with what an employer thinks they’ll be able to afford. If done properly it could be positive for both parties that results in a higher pay for the employee, as well as greater employees’ engagement in their jobs. Here’s how to make your salary negotiation a success.
Principal Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure your salary proposal is realistic.
- Gather information through connecting with colleagues through websites like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Prepare talking points ahead of the time, including education and certificates, years of relevant experience, the results and achievements and unique skills capabilities, knowledge of the industry, and training potential.
- During negotiations, be assured and confident but remain flexible and open-minded. Show tangible results that you’ve had in your previous roles.
- Keep a positive and upbeat tone throughout the conversation and make sure you are listening actively.
Do your research
Prior to entering any negotiations regarding salary, it’s essential to conduct a thorough study of current market rates and industry standards to make sure your salary offer is reasonable. Some factors that can affect this could include experience levels, the size of your company and geographical location. (?). One great way to gather information is to network with your colleagues or those who are in the same profession.
Research Online
Utilizing online resources, such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https: //www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) you can obtain a an additional perspective on the salary range that benchmarking companies pay for the same job. It will provide you with an idea of current market prices and also other elements that are related to a job.
Your Network Is Essential
Gain insight by speaking to people who have had similar roles or reaching out through professionals networks as well doing brainstorming members of professional organizations.
Plan Talk points
Preparing for a meeting is time well spent. You’ll feel more confident in the presentation of your case if have a clearly defined list of points to discuss in advance.
Here are some instances of items you might consider to include in your salary negotiation:
- Education and certification
- Experience gained through years of relevant work
- The results and accomplishments
- Unique set of skills and attributes (e.g. bilingualism)
- Know-how in the field
- Potential for training
A notepad or notebook can also help during conversations so it is not lost important details.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and articulate. Speak clearly about your experiences, achievements and job expectations. It’s essential to maintain a positive tone throughout this conversation so that the person who is hiring you feels that you’re not coming across as hostile.
The Key to Tangible Results
Simply saying that you are committed, hardworking, and goal-oriented might not be enough to create an impressive appeal. So put forward clear statistics about how your previous positions made a difference in companies or how valuable are specific qualities that can benefit an organization.
Remain flexible
If your employer isn’t able to your salary request or compensation arrangement, remaining flexible and open-minded will allow for dialogue. You could ask about alternative incentive options such as performance-based bonuses or models instead of Base salary(? ).
Make sure to remain professional throughout the negotiation process regardless of how smoothly or poorly it’s going: getting too defensive or imposing unreasonable demands will likely have a negative impact for everybody involved.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Pay attention to your counterpart during negotiations. Listen to specific requests and resolving doubts if at all while remaining in the spirit of your what you originally requested. 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 any future discussions you’ll probably be involved in. Applying the advice above goes an enormous way to increasing your chances of reaching an agreement that is mutually beneficial.
| Your network is important | Talk to your friends who have been in similar positions or reaching out through the professional network as well as brainstorming members of professional associations. |
| Prepare Talk points | Training and certification, years of relevant experience, Results and achievements, Unique skill set and qualities (e.g. multilingualism), Industry knowledge, Potential for training |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Focus on tangible results. |
| Stay flexible | Ask about alternative incentives like the performance-based bonuses instead of Base salary (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally important in these types of conversations. Take what you have learned away from these conversations and incorporate them into the future conversations you’ll probably be involved in. |
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Frequently asked questions
What is salary negotiation?
Negotiating salary is negotiating and deciding on the compensation package for a particular job. During this process you will be able to discuss not only the base salary, but also other benefits, such as health insurance, retirement plans, and more.
Why is it so important to bargain on salary?
Negotiating your salary will give you a more secure financial future as well as show that you’re aware of what you’re worth. This can help you avoid putting money on the table.
How soon should I negotiate the salary?
It’s best to begin negotiating immediately after receiving an offer so that everyone is informed of what’s being negotiated. In this way, negotiations are focused on securing optimal terms and avoid unpleasant surprises.
What happens if I am completely satisfied with the package I was offered without any negotiation?
If you receive an offer and are happy with the offer, then there may be no need to discuss it. However, it’s essential to communicate clearly what the employer will offer regarding things such as the performance-based bonus or career-training reimbursements.
Do I have the option of negotiating my salary when I change careers entirely?
Salary negotiation when changing career paths may require added planning because your prior experiences may not be directly applicable or relate to the new duties. Learn about the salaries similar to those in related industries pay in order to get a solid comprehension of realistic expectations for yourself, given your particular situation.
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