How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an extremely difficult process, since it is about balancing what you consider your worth and what an employer thinks they’re able to afford. However, if done correctly, it can be a positive experience for both the employer and employee, which results in a better salary for the employee and greater employees’ engagement in their jobs. Here’s how you can bargain your salary in confidence.
The most important takeaways
- Before you negotiate your salary study market rates and industry standards to confirm that the salary you request is reasonable.
- Get information from socializing with colleagues, using online tools like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead time, including education and certifications and years of relevant experiences, achievements and results, unique skill set & qualities, industry knowledge, and training opportunities.
- During the negotiation, be assertive and confident, yet flexible and open. You should highlight tangible results you achieved in your previous roles.
- Keep a positive attitude throughout the conversation, and make sure you are listening actively.
Do your research
Before you begin any salary negotiation, it’s important to do thorough research on the market and standards in the industry to make sure your salary offer is reasonable. Things that may affect this include your experience level, company size as well as location. (?). Another great method to gather information is to network with colleagues and others who are in the same profession.
Research Online
With the help of some internet-based resources like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. htm) you can obtain a an extensive view of the benchmarking range of salary companies pay for the same job. This gives you an idea of current market prices and also other elements that are related to the position.
Your Network Is Vital
Get insight from talking to people who have had similar roles or reaching out through professionally-oriented networks as well as brainstorming members of professional organizations.
Make Talking points
Preparing for any meeting is time well spent. You’ll feel much more confident in the presentation of your case if have a clear outline of your talking points before the deadline.
Here are some examples of things you could consider including in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Achievements and results
- Unique skill set and qualities (e.g. language proficiency,)
- Knowledge of the industry
- Training potential
A notepad or notebook can be helpful during conversations so that one doesn’t miss any crucial points.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and articulate. Make sure you are clear about your past experiences, achievements and job expectations. It’s essential to maintain a positive attitude throughout this conversation to ensure that your employer feels like you’re not appearing to be aggressive.
Show tangible results
Simply saying that you are ambitious, hardworking, and goal-oriented might not be enough to create an impressive appeal. Make sure to provide precise statistics about how your previous positions made a difference in companies or how important are certain skills that can benefit an organization.
Remain flexible
If the employer isn’t able to your salary request or compensation plan in full being flexible and open can help create space for discussions. You may be able to ask for alternative rewards, like performance-based bonus structures instead of the Base salary(? ).
You must remain professional throughout the negotiation - regardless of how smoothly or poorly it’s going: getting too defensive or making unreasonable demands is likely to have a negative impact for everyone that is.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Do listen actively from any other participant during negotiations, observing the amount requested carefully and clarifying questions if needed, but keeping to the initial request. The goal is to come out with acceptable results.
Use the lessons you’ve learned from these discussions and incorporate it into the next negotiations you’ll likely take part in. The tips mentioned above will go an enormous way to increasing the chances of achieving mutually beneficial outcomes.
| Your network is important | Contact friends and acquaintances who have had similar experiences or reach out via the professional network and brainstorming with members of professional associations. |
| Plan talking points | Education & certification, Years of relevant experience, Performance and achievements, Unique skill set and qualities (e.g. the ability to speak two languages), Industry knowledge, ability to train |
| Be confident & concise | Talk clearly about your personal experiences as well as your achievements and expectations. Use tangible results to highlight your achievements. |
| Be flexible | Find out about other incentives, such as the performance-based bonuses instead of Base salary (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is equally important as communicating in these kinds of conversations. You can take the lessons you’ve learned from these conversations and incorporate them into future negotiations you’ll likely take part in. |
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Frequently asked questions
What is the concept of salary negotiation?
Salary negotiation is the process of negotiating and deciding on the compensation package for a particular job. During this process it is possible to discuss not only the base salary, but also benefits like retirement plans, health insurance and many more.
Why is it necessary to negotiate a salary?
Negotiating your pay can provide you a greater financial future as well as show that you know your worth. It also helps you keep money off the table.
When should I begin to negotiate for a raise?
It is ideal to begin negotiations after you have received an offer, so that everyone is aware of what is being negotiated. So, negotiations are focused on securing perfect terms while avoiding unexpected unintentional surprises.
What happens if I am completely satisfied with the package I was offered with no negotiation?
If you receive an offer and are content with it, there’s no need to bargain. However, it’s still essential to provide clear information about what employers will provide with regards to things like performance-based bonuses or career-training reimbursements.
Can I negotiate my salary if changing careers?
The negotiation of salary for changing career paths could require additional planning because your prior experiences might not translate or encapsulate new responsibilities. Find out what similar jobs in similar fields offer to have a clear comprehension of realistic expectations for yourself, in light of the specific circumstances.
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