How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be difficult to talk about, because it is about balancing what you think you’re worth versus what your employer believes they’ll be able to afford. But, if it’s done correctly it can be positive for both parties, resulting in a greater salary for the employee as well as greater engagement of the employee in their job. Learn how to make your salary negotiation a success.
Key Takeaways
- Before you negotiate your salary study market rates and industry standards to confirm that your salary request is realistic.
- Gather information through connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of time, including education and certifications and years of relevant experiences, achievements and results as well as unique skill sets and qualifications, industry knowledge and training opportunities.
- During the negotiation, be assured and confident but remain flexible and open. You should highlight tangible results you’ve achieved in your previous positions.
- Keep a positive and upbeat tone throughout the conversation, and engage in active listening.
Do your research
Before you enter any salary negotiation, it’s important to conduct a thorough study of current market rates and industry standards to ensure that your salary request is reasonable. The factors that could affect this could include experience degree, size of the company and the location of the company. (?). One way to gather information is to network with colleagues or other professionals in your chosen profession.
Research Online
With the help of online sources, like [LinkedIn Salary] (https: //www. linkedin. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. Htm) You can find a more comprehensive information about the benchmarking range of salaries businesses are providing for same job. This will give you an idea of the current market rate and a few other elements that are related to a job.
Your Network is Vital
Gain insight by speaking to acquaintances who have had similar positions, or contacting them through professionals networks in addition to brainstorming professionals in professional organizations.
Plan Talk points
Time spent preparing for any negotiation is always time well spent. You’ll be much more confident in giving your argument if you are prepared with a specific set of talking points outlined before the deadline.
Here are a few examples of what you might consider when negotiating your salary:
- Education & certification
- Experience gained through years of relevant work
- The results and accomplishments
- Unique skill set and qualities (e.g. language proficiency,)
- Knowledge of the industry
- Potential for training
Also keeping notes/notebook handy can also help during conversations so it is not lost important information.
Be confident & concise
When you negotiate your salary it’s crucial to appear confident and articulate. Be clear about your experience as well as your achievements and expectations for the job. It is important to keep an optimistic tone throughout the conversation to ensure that your employer isn’t appearing to be insecure.
The Key to Tangible Results
Simply stating that one is ambitious, hardworking, and goal-oriented might not be enough to create an appealing appeal. So put forward clear statistics regarding the ways in which previous jobs made difference in companies or the value of specific qualities that can benefit an organization.
Stay flexible
If your employer isn’t able to agree to your salary or compensation package outright being flexible and open will allow for dialog. You could ask about alternative incentives like performance-based bonus structures, instead of the Base salary(? ).
You must remain professional throughout the negotiation process - regardless of how well or poorly it’s going: Being too aggressive or making unreasonable demands can cause a negative result for all parties affected.
Practice active listening
Listening is just as important as communicating in these types of conversations. Be attentive to the any other participant during negotiations, observing the amount requested carefully and clarifying doubts if at all while maintaining the what you originally requested. Both parties should ultimately be able to reach a satisfactory conclusion.
Take what you have learned from these conversations and apply it to future talks you’re likely to participate in. Applying the advice above goes far in maximizing the chance of achieving positive, mutually beneficial results.
| Your Network is Important | Speak to friends who have been in similar positions or reaching out through professional networks and brainstorming with members within professional organizations. |
| Prepare talking points | Training and certification, years of relevant experience and achievements, Unique ability and traits (e.g. the ability to speak two languages), Industry knowledge, Potential for training |
| Be confident & concise | Be clear about your experience accomplishments, job goals and achievements. Focus on tangible results. |
| Stay flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary (?). You must remain professional during the negotiation. |
| Practice active listening | Listening is equally important in these types of conversations. Consider what you’ve learned from these discussions and incorporate it into any future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Negotiating salary is discussing and deciding on the compensation package for a particular job. Through this process you will be able to discuss not just the salary you earn, but also additional benefits such as retirement plans, health insurance as well as other benefits.
Why is it so important to bargain on salary?
Negotiating your salary can give you a more secure financial future as well as indicate that you know your worth. It can also help you avoid leaving money on the table.
When should I begin to negotiate for a raise?
It is recommended to begin negotiations immediately after receiving an offer so that all parties are informed of what’s being discussed. In this way, negotiations will be focused on securing ideal terms while avoiding surprise.
What if I am content with the offered package without negotiation?
If you are offered a job and are pleased with it, there’s probably no need to bargain. However, it’s still 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 salary when I change careers entirely?
Negotiating salary when you change career paths may require added preparation because your past experiences might not translate or relate to the new duties. Research what similar roles in related industries pay to gain a robust knowledge of the realistic expectations you can set for yourself, in light of your specific circumstances.
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