How to Negotiate Salary for Your Next Career Move
A salary negotiation can be a difficult conversation, as it is about balancing what you think you’re worth versus what the employer thinks they can afford. But, if it’s done correctly, it can be positive for both sides that results in a greater salary for the employee as well as greater engagement of the employee in their job. Learn how to negotiate your salary confidently.
Principal Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure that your salary proposal is realistic.
- Gather information through the networking of colleagues, using online tools like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education and certificates, years of relevant experiences, achievements and results, unique skill set & abilities, industry expertise, and potential for training.
- During the negotiation, be assertive and confident, yet flexible and open. Show tangible results that you achieved in your previous roles.
- Keep a positive attitude throughout the conversation and practice active listening.
Do your research
Before you enter any negotiations regarding salary, it’s essential to conduct a thorough investigation of standard industry rates and market rates to ensure that your salary request is reasonable. Some factors that can affect this may include your experience levels, the size of your company, and location (?). One great way to gather information is to network with colleagues and others within your field of work.
Research Online
With the help of some online resources such as [LinkedIn Salary] (https: //www. linkedin. www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can get more substantial approach towards the range of benchmarking salaries that companies offer for the exact job. This will give you an idea of the market rates and other elements that are related to a job.
Your Network Is Vital
Learn more by talking to people who have had similar roles, or reaching out through professional networks in addition to brainstorming members of professional organizations.
Create Talk points
Preparing for a negotiation is always well spent. You’ll feel much more confident in presenting your case if you have a list of points to discuss prior to the time.
Here are some suggestions of what you may want to consider including in your salary negotiation:
- Education & certification
- Years of relevant experience
- The results and accomplishments
- Unique set of skills and attributes (e.g. bilingualism)
- Knowledge of the industry
- Potential for training
A notepad or notebook can assist during conversations to ensure that one doesn’t miss any important details.
Be confident & concise
In a negotiation for a salary it is essential to be confident and clear. Be clear about your experience, achievements and job expectations. It’s important to maintain an optimistic tone throughout the conversation to ensure that your employer doesn’t feel like you’re seeming unfriendly.
The Key to Tangible Results
Simply stating that someone is ambitious, hardworking, and goal-oriented might not be enough to create an strong appeal. Make sure to provide precise statistics on how previous roles made significant difference to companies or the value of specific capabilities which benefit organisation
Remain flexible
If the employer isn’t able to agree to your requested salary or compensation package outright being flexible and open will help open the door to dialog. You can inquire about alternatives to incentives, such as performance-based bonus models instead of Base salary(? ).
Be sure remain professional during the negotiation process - regardless of how well or badly it’s going fighting too much or making unreasonable demands could have a negative impact for all parties who is involved.
Practice active listening
Listening is as crucial as communicating during these types of conversations. Be attentive to the another party while you negotiate, listening to the requests carefully and clarifying questions if needed, but remaining in the spirit of your their original request. Both parties should ultimately come out with acceptable results.
Use the lessons you’ve learned from these conversations 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 chances of achieving an agreement that is mutually beneficial.
| Your Network is Important | Have a chat with friends who have been in similar positions or reach out to professional networks as well as brainstorming members of professional associations. |
| Make talking points | Qualifications and training, Years of relevant experience and accomplishments, unique ability and traits (e.g. the ability to speak two languages) Know-how in the field, ability to train |
| Be confident & concise | Make sure you are clear about your experience as well as your achievements and expectations. Highlight Tangible Results. |
| Stay flexible | You can inquire about alternative incentives such as the performance-based bonuses instead of Base salary (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as speaking during these kinds of conversations. Consider what you’ve learned away from these conversations and incorporate them into the future conversations you’ll probably be involved in. |
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Frequently Asked Questions
What is salary negotiation?
The process involves discussing and deciding on the compensation plan for a position. When you negotiate this, you can discuss not only your base salary but also other benefits, such as retirement plans, health insurance and much more.
Why is it so important to negotiate a salary?
Negotiating your salary could give you a better financial outlook as well as indicate that you are aware of your worth. It can also help you keep money off the table.
What is the best time to negotiate my salary?
It’s best to begin negotiating following the acceptance of an offer to ensure that everyone is aware of the terms being discussed. Then, the negotiations will focus on securing the best terms, while avoiding any unintentional surprises.
What happens if I am satisfied with the package I was offered with no negotiation?
If you receive an offer and you are satisfied with it, then there’s probably no need to negotiate. It’s nevertheless important 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 I change careers entirely?
Salary negotiation when changing career paths can require extra preparation due to the fact that your previous experience might not directly translate or overlap with new responsibilities. Learn about the salaries similar to those in related fields pay, to develop a thorough knowledge of the realistic expectations you can set for yourself, in light of the particular circumstances you face.
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