How to Negotiate Salary for Your Next Career Move
A salary negotiation is an arduous process because it involves balancing what you believe you’re worth with what an employer thinks they’re able to pay. If it’s done right it could be a positive experience for both parties that results in a better salary for the employee and greater engagement of the employee in their job. Here’s how you can make your salary negotiation a success.
Important Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to ensure your salary offer is fair.
- Get information from the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Make a list of talking points ahead time, including education and certification, years of relevant knowledge, accomplishments and achievements as well as unique skill sets and abilities, industry expertise, and potential for training.
- In the course of negotiations, you should be assured and confident but remain flexible and open. Bring out tangible results you have achieved in previous positions.
- Maintain a positive tone throughout the conversation and be active in your listening.
Do your research
Prior to entering any salary negotiation, it’s important to conduct thorough research on current market rates and industry standards to make sure your salary offer is realistic. The factors that could affect the amount you are offered could be levels of experience degree, size of the company and the location of the company. (?). A great method of gathering information is through networking with colleagues or others within your field of work.
Research Online
With the help of some online resources such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. https://www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. htm) you will get a an extensive view of 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 elements that are related to a job.
Your Network Is Vital
Find out more about your situation by talking with colleagues who have been in similar roles, or reaching out through professionals networks and brainstorming with members of professional associations.
Make talking points
Preparing for any negotiations is always a good time spent. You’ll feel more confident when the presentation of your case if have a clear set of talking points outlined in advance.
Here are some examples of things that you might consider during your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Achievements and results
- A unique set of skills and characteristics (e.g., bilingualism)
- Industry knowledge
- Training potential
Also keeping notes/notebook handy can be helpful during conversations so that one doesn’t forget any crucial points.
Be confident & concise
When you negotiate your salary it’s crucial to appear confident and articulate. Make sure you are clear about your past experiences, achievements and job expectations. It is important to keep a positive attitude throughout this discussion so that the employer feels like you’re not appearing to be unfriendly.
Highlight Tangible Results
Simply stating that someone is driven, hardworking, and focused may not be enough to generate an impactful appeal. So put forward clear statistics about how your previous positions made a significant difference to companies or what are the most valuable abilities that help an organisation.
Stay flexible
If your employer isn’t able to agree to your salary request or compensation package, remaining flexible and open-minded can help create space for dialog. It is possible to inquire about alternatives to incentives, such as performance-based bonus structures, instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process no matter how well or poorly it’s going Being too aggressive or making unreasonable demands could lead to a negative outcome for all parties affected.
Practice active listening
Listening is just as important as communicating in these types of conversations. Do listen actively from your counterpart during negotiations. Listen to requests carefully and clarifying doubts, if necessary, while remaining in the spirit of your initial request. Ultimately both parties should come out with acceptable results.
Consider the lessons you’ve learned from these conversations and incorporate them into future negotiations that you’re likely to be involved in. The tips mentioned above will go in the right direction to increase your chances of achieving positive, mutually beneficial results.
| Your network is important | Talk to your friends who have been in similar positions or connect with professionally-oriented networks as well doing brainstorming members of professional associations. |
| Create talking points | Qualifications and training, Years of relevant experience, Results and accomplishments, Unique ability and traits (e.g., bilingualism) Knowledge of the industry, Training potential |
| Be confident & concise | Speak clearly about your experiences as well as your achievements and expectations. Make sure you highlight tangible results. |
| Remain flexible | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is just as important as communicating in these kinds of conversations. Learn away from these conversations and incorporate it into any future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
Salary negotiation is the process of negotiating and deciding on the compensation plan to be paid for your job. In this negotiation, you can discuss not just your salary base, but also other benefits like health insurance, retirement plans and much more.
Why why is it important to negotiate a salary?
Negotiating your salary can give you a better financial future and show you’re aware of what you’re worth. This can help you keep money off the table.
How soon should I negotiate a salary?
It is recommended to begin negotiations after you have received an offer, so everyone is aware of what is being negotiated. In this way, negotiations will focus on securing the best terms, while avoiding any unintentional surprises.
What if I am content with the package I was offered with no negotiation?
If you receive an offer and are pleased with the offer, then there’s probably no need to bargain. But it’s important to be clear about what employers will provide with regards to things like performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when switching careers completely?
Negotiating your salary after changing careers may require more training because your previous work experiences may not be directly applicable or be a part of the new job. Study what similar positions in related industries pay in order to get a solid idea of what realistic expectations are for yourself, given the specific circumstances.
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