How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it involves balancing what you consider your worth and what the employer thinks they’re able to afford. But, if it’s done correctly it can result in an enjoyable experience for both parties that results in a better salary for the employee and greater employee engagement in their work. Here’s how you can negotiate your salary confidently.
Key Takeaways
- Before you negotiate your salary, research market rates and industry standards to confirm that the salary you request is reasonable.
- Gather information through networking with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and contacting professional networks.
- Make a list of talking points ahead the time, including education and certificates and years of relevant experiences, achievements and results with a unique set of skills and qualities, industry knowledge, and potential for training.
- During the negotiation, be confident and clear, but be flexible and open. Bring out tangible results you achieved in your previous positions.
- Maintain a positive tone throughout the conversation, and engage in active listening.
Do your research
Before entering into any salary negotiation, it’s important to conduct thorough research on standard industry rates and market rates to ensure that your salary suggestion is realistic. Some factors that can affect this may include experience levels, the size of your company, and location (?). A great method of gathering information is through networking with colleagues and others in your chosen job field.
Research Online
With the aid of online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you will get a more comprehensive information about the salary range that benchmarking businesses pay for the same job. This will give you an idea of current market rates and other factors related to the position.
Your Network is Important
Learn more by talking to acquaintances who have had similar positions or reaching out via professional networks as well doing brainstorming members within professional organizations.
Plan Talking points
Preparing for any negotiation is always time well spent. You’ll feel much more confident when giving your argument if you have a clear set of talk points that you have outlined prior to the time.
Here are a few instances of things that you might want to think about to include in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Results and achievements
- 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 assist during conversations to ensure that you don’t miss any important information.
Be confident & concise
When you negotiate your salary it is essential to be confident and articulate. Speak clearly about your experiences, achievements and job expectations. It’s important to maintain a positive tone throughout this discussion so that the employer isn’t being aggressive.
Highlight the tangible results
Simply stating that someone is driven, hardworking, and aspire-driven person may not be enough for an appealing appeal. It is important to present clear and precise data regarding the ways in which previous jobs made difference in companies or how valuable are specific qualities that can benefit an organization.
Keep your mind open
If your employer cannot agree to your salary or compensation arrangement, remaining flexible and open-minded will allow for dialogue. You could ask about alternative rewards, like performance-based bonus structures, instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process regardless of how successfully or poorly it’s going: Being too aggressive or imposing unreasonable demands could result in an unfavourable outcome for everyone involved.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Be attentive to 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. The goal is to be able to reach a satisfactory conclusion.
Learn from these conversations and apply it to future negotiations you’ll likely take part in. The tips mentioned above will go a long way towards maximizing your chances of achieving positive, mutually beneficial results.
| Your network is important | Have a chat with friends who’ve held similar roles or reaching out through the professional network as well as brainstorming members of professional associations. |
| Plan talking points | Qualifications and training, Years of relevant experience, Results and accomplishments, unique skills and characteristics (e.g. bi-lingualism) Knowledge of the industry, Training potential |
| Be confident & concise | Talk clearly about your personal experiences as well as your achievements and expectations. Make sure you highlight tangible results. |
| Remain flexible | Ask about alternative incentives like performance-based bonus structures instead of Base salary (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as communicating in these kinds of conversations. You can take the lessons you’ve learned away from these conversations and apply it to future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is the concept of salary negotiation?
Negotiating salary is negotiating and deciding on the compensation plan for a position. During this process you will be able to discuss not only the base salary, but also additional benefits such as health insurance, retirement plans, and more.
Why why is it important to bargain on salary?
Negotiating your pay can provide you a better financial future and show you are aware of your worth. This can help you not leave money on the table.
When should I begin to negotiate the salary?
It is recommended to begin negotiations immediately after receiving an offer so that all parties are aware of what is being negotiated. In this way, negotiations will focus on securing perfect terms while avoiding unexpected surprises.
What happens if I am completely satisfied with the offer without any negotiation?
If you are offered a job and are happy with the offer, then there’s no reason to bargain. It’s nevertheless important to be clear about what employers will provide in terms of things like performance-based bonuses or career-training reimbursements.
Can I negotiate salary when changing careers?
Negotiating salary when you change career paths can require extra planning because your prior experiences may not be directly applicable or relate to the new duties. Research what similar roles in related industries pay, to develop a thorough idea of what realistic expectations are for yourself, in light of the particular circumstances you face.
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