How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it is about balancing what you believe you’re worth with what your employer believes they’re able to afford. If done properly it can result in a positive experience for both sides that results in a better salary for the employee as well as greater satisfaction for the employees in their work. Learn how to bargain your salary in confidence.
The most important takeaways
- Before you make a salary offer study market rates and industry standards to make sure that your salary request is realistic.
- Get information from the networking of colleagues, using websites like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Plan your talk points ahead of the time, including education and certification and years of relevant experience, the results and achievements and unique skills qualities, industry knowledge, and the potential for further training.
- In the course of negotiations, you should be assertive and confident, yet flexible and open. You should highlight tangible results you’ve had in your previous roles.
- Maintain a positive mood throughout the conversation and practice active listening.
Do your research
Before you enter any negotiations regarding salary, it’s essential to conduct a thorough investigation of current market rates and industry standards to make sure that your salary proposal is reasonable. The factors that could affect this include your experience levels, the size of your company and the location of the company. (?). Another great method to gather information is through networking with colleagues or other professionals within your 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. https://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. htm) you can get an extensive view of the benchmarking range of salaries companies pay for the same job. It will provide you with an idea of current market prices and also other factors related to a job.
Your Network is Important
Find out more about your situation by talking with people who have had similar roles, or reaching out through professionals networks as well as brainstorming professionals in professional organizations.
Create talking points
Preparing for a meeting is time well spent. You’ll be much more confident when giving your argument if you have a list of points to discuss ahead of time.
Here are some examples of things you might want to think about to include in your salary negotiation:
- Education and certification
- Years of relevant experience
- Achievements and results
- Unique set of skills and attributes (e.g. the ability to speak two languages)
- Know-how in the field
- Potential for training
A notepad or notebook can assist during conversations to ensure that one doesn’t forget any crucial points.
Be confident & concise
In a negotiation for a salary it’s crucial to appear confident and clear. Speak clearly about your experiences accomplishments, your job goals and achievements. It is important to keep an optimistic tone throughout the dialogue so that the employer isn’t coming across as hostile.
Highlight the tangible results
Simply stating that someone is driven, hardworking, and aspire-driven person may not be enough to generate an impactful appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made distinction in businesses or what are the most valuable abilities that benefit the organization.
Stay flexible
If your employer cannot agree to your requested salary or compensation package being flexible and open will help open the door to discussion. You could ask about alternative incentives like performance-based bonus structures, instead of Base salary(? ).
Make sure to remain professional throughout the negotiation process - regardless of how smoothly or not: Being too aggressive or imposing unreasonable demands is likely to cause a negative result for all parties who is involved.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Be attentive to the other party during negotiations hearing specific requests and resolving doubts if at all while maintaining the initial request. In the end, both parties must come out with acceptable results.
Learn from these conversations and incorporate them into future negotiations you’ll likely take part in. Applying the advice above goes a long way towards maximizing the chance of achieving positive, mutually beneficial results.
| Your network is important | Have a chat with friends who’ve held similar roles or connect with networking networks for professionals as well doing brainstorming members within professional organizations. |
| Prepare talking points | Certification and education, Years of relevant experience, Performance and accomplishments, Unique ability and traits (e.g. multilingualism), Industry knowledge, Potential for training |
| Be confident & concise | Make sure you are clear about your experience as well as your achievements and expectations. Highlight Tangible Results. |
| Stay flexible | You can inquire about alternative incentives such as the performance-based bonuses instead of Base salary. (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial as communicating during these types of conversations. Learn away from these conversations and incorporate them into future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is salary negotiation?
It is the act of discussing and deciding on the compensation package for a position. Through this process you will be able to discuss not just the salary you earn, but also other benefits like health insurance, retirement plans and many more.
Why is it so important to discuss salary?
Negotiating your salary will give you a better financial outlook and show you know your worth. This can help you avoid putting money on the table.
How soon should I negotiate a salary?
It’s best to begin negotiating following the acceptance of an offer to ensure that all parties are aware of what is being negotiated. In this way, negotiations are focused on securing the best terms, while avoiding any unpleasant surprises.
What happens if I am satisfied with the offered package with no negotiation?
If you get an offer and are content with it, there’s no reason to negotiate. However, it’s still essential to provide clear information about what the employers are willing to offer in terms of things like compensation for training or performance-based bonuses.
Do I have the option of negotiating my salary when I change careers entirely?
The negotiation of salary for changing career paths may require added training because your previous work experiences may not be directly applicable or relate to the new duties. Research what similar roles in related fields pay to gain a robust knowledge of the realistic expectations you can set for yourself, given the specific circumstances.
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