How to Negotiate Salary for Your Next Career Move
Negotiating your salary is difficult to talk about, because it involves balancing what you consider your worth and what the employer thinks they can afford. If it’s done right, it can be positive for both the employer and employee, which results in a better salary for the employee and greater employee engagement in their work. Here’s how to make your salary negotiation a success.
Important Takeaways
- Before you negotiate your salary, research market rates and industry standards to confirm that your salary request is realistic.
- Get information from socializing with colleagues, using online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Plan your talk points ahead of time, including education & certifications, years of relevant experience, results & achievements and unique skills qualities, industry knowledge, and the potential for further training.
- During negotiations, be assertive and confident, yet flexible and open. Show tangible results that you have achieved in previous roles.
- Maintain a positive tone throughout the conversation and make sure you are listening actively.
Do your research
Before you begin any negotiations regarding salary, it’s essential to conduct a thorough investigation of market rates and industry standards to ensure that your salary request is realistic. Factors that might impact this include the level of experience, degree, size of the company and the location of the company. (?). One great way to gather information is to make connections with colleagues and others who are in the same profession.
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: //www. glassdoor. com/Salaries/index. htm) you can get an extensive view of the benchmarking range of salary businesses pay for the same job. This gives you an idea about current market rate and a few other elements that are related to the job.
Your Network is Vital
Get insight from talking to friends who have held similar positions, or contacting them through professionals networks in addition to brainstorming professionals in professional organizations.
Prepare Talk points
Preparing for a negotiations is always a good time spent. You’ll feel more confident when the presentation of your case if have a set of talking points outlined ahead of time.
Here are a few suggestions of things you may want to consider during your salary negotiation:
- Training and certification
- Years of relevant experience
- Achievements and results
- Unique skill set and qualities (e.g. the ability to speak two languages)
- Industry knowledge
- Potential for training
Also keeping notes/notebook handy can be helpful during conversations so that you don’t miss any important information.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and clear. Talk clearly about your work experience accomplishments, your job goals and achievements. It’s crucial to maintain a positive tone throughout this conversation so that the employer doesn’t feel like you’re coming across as unfriendly.
Highlight Tangible Results
Simply stating that one is committed, hardworking, and focused may not be enough for an impressive appeal. So put forward clear statistics regarding the ways in which previous jobs made difference in companies or what are the most valuable qualities which benefit organisation
Remain flexible
If the employer isn’t able to your salary or compensation plan in full Being flexible and open can help create space for dialogue. It is possible to inquire about alternatives to incentives, such as performance-based bonus structures instead of the Base salary(? ).
You must remain professional throughout the negotiation process - regardless of how well or not: being too combative or making unreasonable demands will likely cause a negative result for all parties who is involved.
Practice active listening
Listening is as crucial as speaking during these kinds of conversations. Pay attention to another party while you negotiate, listening to the requests carefully and clarifying doubts if at all while maintaining the what you originally requested. Both parties should ultimately arrive at acceptable outcomes.
Take what you have learned from these discussions and incorporate it into any future discussions you’ll probably be involved in. Following the tips above goes a long way towards maximizing the chance of achieving positive outcomes that are mutually beneficial.
| Your network is important | Talk to your friends who have had similar experiences or reach out to the professional network as well doing brainstorming members within professional organizations. |
| Make talking points | Qualifications and training, Years of relevant experience and accomplishments, Unique skills and characteristics (e.g. bi-lingualism), Industry knowledge, ability to train |
| Be confident & concise | Make sure you are clear about your experience accomplishments, job goals and achievements. Focus on tangible results. |
| Keep your mind open | You can inquire about alternative incentives such as performance-based bonus structures instead of Base salary (?). Keep your professional conduct throughout 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 the future conversations you’ll probably be involved in. |
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Frequently asked questions
What is the concept of salary negotiation?
It is the act of discussing and deciding on the compensation package to be paid for your job. Through this process it is possible to discuss not only your base salary but also additional benefits such as retirement plans, health insurance and many more.
Why is it so important to negotiate salary?
Negotiating your salary could give you a more secure financial future and also show that you are aware of your worth. It will also allow you to avoid putting money on the table.
How soon should I negotiate the salary?
It is best to begin negotiations following the acceptance of an offer to ensure that all parties are informed of what’s being negotiated. Then, the negotiations will be focused on securing the best terms, while avoiding any surprises.
What happens if I am satisfied with the package I was offered without any negotiation?
If you receive an offer and you are satisfied with the offer, then there’s no need to bargain. However, it’s essential to provide clear information about what the employer will offer with regards to things like rewards based on performance or reimbursements for career training.
Can I negotiate my salary if changing career paths entirely?
Negotiating your salary after changing career paths can require extra planning because your prior experiences may not be directly applicable or relate to the new duties. Learn about the salaries similar to those in similar industries pay, to develop a thorough idea of what realistic expectations are for you, considering the specific circumstances.
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