How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it is about balancing what you consider your worth and the amount an employer believes they’re able to afford. If it’s done right it could be an enjoyable experience for both sides that results in a greater salary for the employee as well as greater employees’ engagement in their jobs. Learn how to bargain your salary in confidence.
Principal Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to confirm that the salary you request is reasonable.
- Collect information through the networking of colleagues, using online tools like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Plan your talk points ahead of the time, including education and certifications and years of relevant experience, the results and achievements and unique skills capabilities, knowledge of the industry, and the potential for further training.
- In the course of negotiations, you should be assertive and confident, yet flexible and open. You should highlight tangible results you’ve had in your previous positions.
- Maintain a positive mood throughout the conversation and engage in active listening.
Do your research
Prior to entering any pay negotiation, it’s crucial to conduct a thorough investigation of the market and standards in the industry to make sure your salary offer is realistic. Things that may affect this could include levels of experience degree, size of the company and geographical location. (?). One way to gather information is to make connections 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 [Glassdoor] (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a more comprehensive information about the benchmarking range of salary 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
Learn more by talking to people who have had similar positions, or contacting them via professionally-oriented networks as well doing brainstorming members of professional organizations.
Make Talk points
The time spent in preparing for a negotiation is always time well spent. You’ll be more confident in giving your argument if you have a clear set of talking points outlined in advance.
Here are some instances of items you could consider to include in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Results and achievements
- Particular skill set and traits (e.g. bilingualism)
- Industry knowledge
- Training potential
A notepad or notebook can aid in conversations, so that one doesn’t miss any crucial points.
Be confident & concise
In a negotiation for a salary it’s crucial to appear confident and articulate. Make sure you are clear about your past experiences as well as your achievements and expectations for the job. It is important to keep a positive attitude throughout this conversation so that the employer isn’t appearing to be unfriendly.
Highlight the tangible results
Simply stating one is determined, hardworking and focused may not be enough to generate an strong appeal. It is important to present clear and precise data regarding how prior roles have made a distinction in businesses or how important are certain capabilities that help an organisation.
Keep your mind open
If the employer cannot agree to your requested salary or compensation package being flexible and open will help open the door to dialogue. You could ask about alternative incentive options such as performance-based bonuses or structures, instead of Base salary(? ).
Be sure remain professional throughout the negotiation process regardless of how successfully or not: Being too aggressive or making unreasonable demands is likely to cause a negative result for all parties involved.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Listen attentively from the any other participant during negotiations, observing requested amount carefully & clarifying doubts, if necessary, while maintaining the their original request. Ultimately both parties should be able to reach a satisfactory conclusion.
Learn from these discussions and incorporate it into the next negotiations that you’re likely to be involved in. By following the suggestions above, you will go an enormous way to increasing your chances of achieving mutually beneficial outcomes.
| Your Network is Important | Have a chat with friends who have been in similar positions or reach out via the professional network and brainstorming with members within professional organizations. |
| Make Talk points | Education & certification, Years of relevant experience, Results and achievements, Unique skills and characteristics (e.g. bi-lingualism) Knowledge of the industry, ability to train |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Focus on tangible results. |
| Be flexible | Consider alternative incentives such as performance-based bonus structures instead of Base salary. (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as communicating during these types of conversations. You can take the lessons you’ve learned from these conversations and incorporate them into future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
Negotiating salary is discussing and deciding on the compensation package for a position. In this negotiation you are able to discuss more than just the salary you earn, but also other benefits, such as health insurance, retirement plans and much more.
Why is it so important to bargain on salary?
Negotiating your salary will give you a more secure financial future as well as show that you know your worth. It can also help you keep money off the table.
When should I begin to negotiate my salary?
It is best to begin negotiations after receiving an offer so that everyone is aware of what is being negotiated. Then, the negotiations will focus on securing optimal terms and avoid surprise.
What happens if I am satisfied with the offer without negotiating?
If you are offered a job and are content with it, then there’s no reason to negotiate. It’s nevertheless important to communicate clearly what your employer’s expectations in terms of things like rewards based on performance or reimbursements for career training.
What is the best way to negotiate my salary? I change careers entirely?
Negotiating salary when you change career paths may require added training because your previous work experiences may not be directly applicable or relate to the new duties. Study what similar positions in similar industries pay, to develop a thorough understanding of realistic expectations for you, considering your particular situation.
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