How to Negotiate Salary for Your Next Career Move
A salary negotiation is an arduous process because it is about balancing what you consider your worth and the amount an employer believes they’re able to pay. If it’s done right it can be positive for both parties, resulting in a higher pay for the employee, as well as greater employee engagement in their work. Here’s how you can make your salary negotiation a success.
Important Takeaways
- Before you make a salary offer take a look at market rates and industry standards to confirm that your salary offer is fair.
- Find out information by networking with colleagues, using websites like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Plan your talk points ahead of time, including education and certification and years of relevant knowledge, accomplishments and achievements with a unique set of skills and qualities, industry knowledge, and training opportunities.
- In the course of negotiations, you should be assertive and confident, yet flexible and open-minded. Highlight tangible results that you have achieved in previous positions.
- Maintain a positive mood throughout the conversation, and engage in active listening.
Do your research
Before entering into any salary negotiation, you need to conduct a thorough study of current market rates and industry standards to ensure that your salary suggestion is realistic. The factors that could affect this could include levels of experience level, company size, and location (?). Another great method to gather information is to make connections with colleagues and others who are in the same job field.
Research Online
With the aid of online resources such as [LinkedIn Salary] (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. htm) You can find a more substantial approach towards the benchmarking range of salaries companies pay for the same job. This gives you an idea of the current market rate and a few other aspects related to an employment.
Your Network is Essential
Gain insight by speaking to colleagues who have been in similar roles or reaching out through professional networks as well doing brainstorming members of professional organizations.
Prepare Talk points
The time spent in preparing for a negotiation is always time well spent. You’ll feel much more confident when making your case if you have a clear set of talk points that you have outlined in advance.
Here are a few ideas of things that you might consider including in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Performances and results
- A unique set of skills and characteristics (e.g. language proficiency,)
- Know-how in the field
- Training potential
A notepad or notebook can be helpful during conversations so that you don’t miss any important points.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and clear. Make sure you are clear about your past experiences, achievements and job expectations. It is important to keep your tone of voice positive throughout the conversation to ensure that your employer isn’t being aggressive.
Show tangible results
Simply stating that someone is determined, hardworking and focused may not be enough to generate an impressive appeal. Make sure to provide precise statistics about how your previous positions made a an impact in the workplace or how valuable are specific qualities that can benefit an organization.
Keep your mind open
If your employer isn’t able to your salary or compensation plan in full, remaining flexible and open-minded can help create space for discussion. You can inquire about alternative rewards, like performance-based bonus structures, instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process - regardless of how well or not: being too combative or making unreasonable demands can have a negative impact for all parties involved.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Be attentive to the any other participant during negotiations, observing the amount requested carefully and clarifying doubts as much as you can while remaining in the spirit of your original request. Both parties should ultimately achieve satisfactory results.
Take what you have learned from these conversations and incorporate it into the next discussions you’ll probably be involved in. Applying the advice above goes in the right direction to increase the chances of achieving mutually beneficial outcomes.
| Your network is important | Talk to your friends who have had similar experiences or connect with professionally-oriented networks as well doing brainstorming members of professional associations. |
| Make talking points | Qualifications and training, Years of relevant experience, Performance and accomplishments, Unique ability and traits (e.g. bi-lingualism) Know-how in the field, Training potential |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Make sure you highlight tangible results. |
| Remain flexible | Consider alternative incentives such as incentive structures based on performance rather than Base salary. (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is just as important in 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 asked questions
What is the concept of salary negotiation?
It is the act of discussing and finalizing the compensation package for a job. When you negotiate this you will be able to discuss not only the base salary, but also other benefits, such as retirement plans, health insurance and many more.
Why is it so important to negotiate a salary?
Negotiating your salary could give you a more secure financial future as well as indicate that you’re aware of what you’re worth. It also helps you not leave money on the table.
What is the best time to negotiate for a raise?
It is recommended to begin negotiations following the acceptance of an offer to ensure that everyone is aware of the terms being negotiated. In this way, negotiations will focus on securing perfect terms while avoiding unexpected unintentional surprises.
What happens if I am satisfied with the package I was offered without negotiation?
If you are offered a job and you are satisfied with it, then there’s no need to bargain. However, it’s essential to be clear about what the employers are willing to offer with regards to things like the performance-based bonus or career-training reimbursements.
Can I negotiate salary when changing careers?
Salary negotiation when changing career paths could require additional preparation because your past experiences might not translate or relate to the new duties. Study what similar positions in similar fields pay, to develop a thorough idea of what realistic expectations are for yourself, in light of your specific circumstances.
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