How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it involves balancing what believe you’re worth with what an employer thinks they can afford. If it’s done right it can result in positive for both parties, resulting in a better salary for the employee, as well as greater engagement of the employee in their job. Here’s how to negotiate your salary confidently.
Principal Takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure that your salary proposal is realistic.
- Collect information through socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Make a list of talking points ahead the time, including education and accreditation as well as years of relevant experience, results & achievements with a unique set of skills and capabilities, knowledge of the industry, and potential for training.
- During negotiations, be confident and clear, but be flexible and open-minded. Highlight tangible results that you achieved in your previous roles.
- Keep a positive attitude throughout the conversation and practice active listening.
Do your research
Before you begin any negotiations regarding salary, it’s essential to conduct a thorough investigation of standard industry rates and market rates to ensure that your salary request is realistic. Some factors that can affect this could include the level of experience, levels, the size of your company and the location of the company. (?). One way to gather information is through networking with colleagues or other professionals who are in the same field of work.
Research Online
With the help of internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a more substantial approach towards the range of benchmarking salaries businesses pay for the same role which will gives you an idea of current market rate plus few other elements that are related to the position.
Your Network is Important
Get insight from talking to colleagues who have been in similar positions, or contacting them through the professional networks in addition to brainstorming professionals in professional organizations.
Create talking points
The time spent in preparing for a meeting is time well spent. You’ll feel much more confident in the presentation of your case if have a clear set of talking points outlined prior to the time.
Here are a few ideas of items you could consider including in your salary negotiation:
- Education and certification
- Experience gained through years of relevant work
- Results and achievements
- Unique set of skills and attributes (e.g. the ability to speak two languages)
- Knowledge of the industry
- Potential for training
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure it is not lost important details.
Be confident & concise
In a negotiation for a salary it is essential to be confident and articulate. Speak clearly about your experiences accomplishments, your job goals and achievements. It’s essential to maintain a positive tone throughout this dialogue so that the person who is hiring you feels that you’re not coming across as unfriendly.
The Key to Tangible Results
Simply stating that someone is ambitious, hardworking, and focused may not be enough to generate an impressive appeal. Therefore, provide clear data regarding the ways in which previous jobs made difference in companies or how important are certain qualities that can benefit an organization.
Remain flexible
If your employer isn’t able to agree to your salary request or compensation package outright, remaining flexible and open-minded can help create space for discussion. You may be able to ask for alternative incentive options such as performance-based bonuses or models instead of the Base salary(? ).
Make sure to remain professional during the negotiation process - regardless of how smoothly or badly it’s going fighting too much or imposing unreasonable demands could cause a negative result for everyone that is.
Practice active listening
Listening is equally as important as speaking during these kinds of conversations. Do listen actively from another party while you negotiate, listening to the requests carefully and clarifying doubts as much as you can while keeping to the what you originally requested. The goal is to achieve satisfactory results.
Use the lessons you’ve learned from these conversations and apply it to future discussions you’ll probably be involved in. Following the tips above goes far in maximizing the chances of achieving mutually beneficial outcomes.
| Your network is important | Speak to friends who’ve held similar roles or connect with networking networks for professionals as well doing brainstorming members of professional associations. |
| Make Talk points | Certification and education, Years of relevant experience, Performance and accomplishments, Unique skill set and qualities (e.g. bi-lingualism) Know-how in the field, ability to train |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Highlight Tangible Results. |
| Keep your mind open | Consider 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 as crucial in these types of conversations. Consider what you’ve learned from these discussions and incorporate it into any future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is salary negotiation?
Salary negotiation is the process of negotiating and deciding on the compensation plan to be paid for your job. When you negotiate this, you can discuss not only your base salary but also additional benefits such as health insurance, retirement plans as well as other benefits.
Why is it necessary to negotiate salary?
Negotiating your salary can give you a better financial future and also show that you know your worth. It also helps you avoid putting money on the table.
When should I start negotiating a salary?
It is best to begin negotiations after you have received an offer, so everyone is aware of the terms being discussed. This way, the negotiations will be focused on securing ideal terms while avoiding surprises.
What if I am content with the offered package with no negotiation?
If you are offered a job and are content with the offer, then there’s probably no need to bargain. It’s nevertheless important to provide clear information about what employers will provide in the form of rewards based on performance or reimbursements for career training.
What is the best way to negotiate my salary? changing career paths entirely?
The negotiation of salary for changing career paths could require additional preparation because your past experience might not directly translate or relate to the new duties. Research what similar roles in related fields pay in order to get a solid knowledge of the realistic expectations you can set for yourself, given the specific circumstances.
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