How to Negotiate Salary for Your Next Career Move
A salary negotiation can be a difficult conversation, as it involves balancing what think you’re worth versus what the employer thinks they’ll be able to afford. However, if done correctly it could be positive for both the employer and employee, which results in a better salary for the employee and greater employee engagement in their work. Here’s how to negotiate your salary confidently.
Important Takeaways
- Before you negotiate your salary study market rates and industry standards to confirm that the salary you request is reasonable.
- Find out information by connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of the time, including education and certifications, years of relevant experiences, achievements and results as well as unique skill sets and qualifications, industry knowledge and the potential for further training.
- During negotiations, be assured and confident but remain flexible and open-minded. You should highlight tangible results you’ve achieved in your previous positions.
- Keep a positive attitude throughout the conversation, and engage in active listening.
Do your research
Prior to entering any negotiations regarding salary, it’s essential to conduct thorough research on market rates and industry standards to ensure that your salary suggestion is realistic. Some factors that can affect this could include experience level, company size and the location of the company. (?). One great way to gather information is to network with colleagues or other professionals who are in the same area of work.
Research Online
With the help of some internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. htm) you can get an additional perspective on the benchmarking range of salary businesses are providing for same job. This will give you an idea of the current market rate plus few other aspects related to an employment.
Your Network Is Essential
Get insight from talking to people who have had similar positions, or contacting them through professionally-oriented networks and brainstorming with members of professional organizations.
Make Talk points
Preparing for a negotiation is always time well spent. You’ll feel more confident when the presentation of your case if have a clear outline of your talking points in advance.
Here are a few suggestions of what you might want to think about when negotiating your salary:
- Education & certification
- Experience gained through years of relevant work
- The results and accomplishments
- Particular skill set and traits (e.g. the ability to speak two languages)
- Industry-specific knowledge
- Potential for training
Also keeping notes/notebook handy can be helpful during conversations so that you don’t miss any important information.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and clear. Be clear about your experience accomplishments, your job goals and achievements. It is important to keep an optimistic tone throughout the dialogue so that the person who is hiring you feels that you’re not being aggressive.
Highlight the tangible results
Simply stating that one is driven, hardworking, and focused may not be enough to make an appealing appeal. Therefore, provide clear data on how previous roles made distinction in businesses or the value of specific capabilities which benefit organisation
Be flexible
If your employer isn’t able to your salary or compensation arrangement Being flexible and open can help create space for dialog. It is possible to inquire about alternatives to incentives, such as performance-based bonus arrangements instead of Base salary(? ).
Keep your cool throughout the negotiation - no matter how well or badly it’s going getting too defensive or imposing unreasonable demands could cause a negative result for everyone who is involved.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Do listen actively from your counterpart during negotiations. Listen to requested amount carefully & clarifying questions if needed, but remaining in the spirit of your what you originally requested. The goal is to achieve satisfactory results.
Learn from these discussions and incorporate it into any future talks you’re likely to participate in. By following the suggestions above, you will go in the right direction to increase the chances of achieving mutually beneficial outcomes.
| Your network is important | Talk to your friends who’ve held similar roles or connect with professionally-oriented networks and brainstorming with members within professional organizations. |
| Create talking points | Certification and education, Years of relevant experience, Results and accomplishments, unique skills and characteristics (e.g. multilingualism) Know-how in the field, ability to train |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Make sure you highlight tangible results. |
| Be flexible | Find out about other incentives, such as the performance-based bonuses instead of Base salary (?). Keep your professional conduct during the negotiation process. |
| Practice active listening | Listening is equally as important in these types of conversations. You can take the lessons you’ve learned away from these conversations and apply it to future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is salary negotiation?
It is the act of discussing and finalizing the compensation package for a job. In this negotiation you are able to discuss more than only the base salary, but also benefits like health insurance, retirement plans, and more.
Why why is it important to discuss salary?
Negotiating your salary can give you a better financial future as well as indicate that you are aware of your worth. It can also help you avoid putting money on the table.
How soon should I negotiate a salary?
It’s best to begin negotiating immediately after receiving an offer so everyone is aware of the terms being negotiated. Then, the discussions are focused on negotiating perfect terms while avoiding unexpected unpleasant surprises.
What if I am content with the offer without negotiating?
If you receive an offer and are happy with it, there’s no need to negotiate. It’s nevertheless important to communicate clearly what employers will provide regarding things such as compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? I change careers entirely?
The negotiation of salary for changing career paths may require added planning because your prior experiences may not be directly applicable or relate to the new duties. Find out what similar jobs in similar fields offer to have a clear comprehension of realistic expectations for yourself, in light of your specific circumstances.
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