How to Negotiate Salary for Your Next Career Move
A salary negotiation is an arduous process because it involves balancing what believe you’re worth with what an employer thinks they’re able to pay. If done properly it can result in positive for both parties, resulting in a higher pay for the employee and greater engagement of the employee in their job. Here’s how to negotiate your salary with confidence.
Principal Takeaways
- Before you make a salary offer, research market rates and industry standards to ensure that your salary request is realistic.
- Collect information through networking with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Make a list of talking points ahead time, including education & accreditation in the form of years of relevant work experience, results & achievements and unique skills qualities, industry knowledge, and potential for training.
- In the course of negotiations, you should be assured and confident but remain flexible and open-minded. Show tangible results that you’ve had in your previous positions.
- Keep a positive and upbeat tone throughout the conversation, and make sure you are listening actively.
Do your research
Before entering into any pay negotiation, it’s crucial to conduct a thorough study of current market rates and industry standards to make sure that your salary proposal is realistic. Some factors that can affect this include experience degree, size of the company and the location of the company. (?). Another great method to gather data is to connect with colleagues or other professionals within your job field.
Research Online
With the help of online sources, like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) you will get a more comprehensive information about the range of benchmarking salaries companies pay for the same role which will gives you an idea about current market rate and a few other elements that are related to the job.
Your Network is Important
Gain insight by speaking to colleagues who have been in similar positions or reaching out via professionally-oriented networks and brainstorming with professionals in professional organizations.
Make Talking points
Preparing for a negotiation is always well spent. You’ll be much more confident when giving your argument if you have a list of points to discuss before the deadline.
Here are some ideas of what you might consider when negotiating your salary:
- Education and certification
- Experience gained through years of relevant work
- Results and achievements
- Particular skill set and traits (e.g. language proficiency,)
- Knowledge of the industry
- Potential for training
Also keeping notes/notebook handy can be helpful during conversations so that one doesn’t forget any important points.
Be confident & concise
In a negotiation for a salary it is essential to be confident and articulate. Be clear about your experience of accomplishments and your expectations. It is important to keep a positive attitude throughout this conversation to ensure that your person who is hiring you feels that you’re not being insecure.
The Key to Tangible Results
Simply stating one is ambitious, hardworking, and aspire-driven person may not be enough for an strong appeal. So put forward clear statistics on how previous roles made difference in companies or how valuable are specific abilities that help an organisation.
Remain flexible
If the employer isn’t able to agree to your salary request or compensation arrangement, remaining flexible and open-minded will help open the door to dialogue. You may be able to ask for alternatives to incentives, such as performance-based bonus structures instead of the Base salary(? ).
Be sure remain professional throughout the negotiation - no matter how well or poorly it’s going: being too combative or imposing unreasonable demands can lead to a negative outcome for everyone that is.
Practice active listening
Listening is just as important as communicating in these types of conversations. Pay attention to other party during negotiations hearing specific requests and resolving questions if needed, but maintaining the their original request. The goal is to achieve satisfactory results.
Take what you have learned from these discussions and incorporate it into the next discussions you’ll probably be involved in. By following the suggestions above, you will go an enormous way to increasing the chance of achieving positive, mutually beneficial results.
| Your network is important | Speak to friends who have had similar experiences or reach out to professional networks in addition to brainstorming members within professional organizations. |
| Create Talk points | Qualifications and training, Years of relevant work experience, results and accomplishments, unique skill set and qualities (e.g. bi-lingualism) Know-how in the field, ability to train |
| Be confident & concise | Speak clearly about your experiences your accomplishments and expectations for the job. Highlight Tangible Results. |
| Remain flexible | Ask about alternative incentives like the performance-based bonuses instead of Base salary. (?). You must remain professional throughout the negotiation process. |
| Practice active listening | Listening is as crucial as communicating during these types of conversations. Learn from these discussions and incorporate them into future conversations you’ll probably be involved in. |
Are you ready for your next job shift? Check for our Townsville Resume ‘s services today!
Frequently Asked Questions
What is the concept of salary negotiation?
The process involves negotiating and deciding on the compensation package for a particular job. During this process you will be able to discuss not just the salary you earn, but also benefits like health insurance, retirement plans and much more.
Why is it necessary to negotiate a salary?
Negotiating your salary will give you a better financial outlook and also show that you know your worth. It also helps you not leave money on the table.
How soon should I negotiate for a raise?
It is best to begin negotiations after you have received an offer, so that all parties are conscious of what’s being negotiated. This way, the discussions are focused on negotiating the best terms, while avoiding any unintentional surprises.
What if I am happy with the deal I received without negotiating?
If you are offered a job and are content with it, then there’s no reason to negotiate. However, it’s essential to have transparent communication about what the employers are willing to offer in the form of performance-based bonuses or career-training reimbursements.
Can I negotiate salary when I change careers entirely?
Negotiating your salary after changing career paths can require extra preparation because your past experiences may not be directly applicable or encapsulate new responsibilities. Study what similar positions in related fields offer to have a clear understanding of realistic expectations for yourself, given your specific circumstances.
Are you looking forward to your next career change? Take a look at our Townsville Resume ‘s services today!
