How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it is about balancing what you think you’re worth versus the amount an employer believes they’re able to pay. If it’s done right, it can be an enjoyable experience for both the employer and employee, which results in a higher salary for the employee and greater employee engagement in their work. Here’s how to negotiate your salary confidently.
The most important takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to confirm that your salary offer is fair.
- Gather information through connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead the time, including education and certificates in the form of years of relevant work experiences, achievements and results, unique skill set & qualifications, industry knowledge and potential for training.
- In the course of negotiations, you should be assertive and confident, yet flexible and open. Bring out tangible results you achieved in your previous roles.
- Maintain a positive mood throughout the conversation and engage in active listening.
Do your research
Prior to entering any salary negotiation, it’s important to conduct thorough research on standard industry rates and market rates to make sure that your salary proposal is realistic. Factors that might impact this may include your experience degree, size of the company, and location (?). A great method of gathering information is to network with colleagues and others who are in the same field of work.
Research Online
Utilizing internet-based resources like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can obtain a more comprehensive information about the benchmarking range of salaries businesses pay for the same role which will gives you an idea of the current market prices and also other facets of the job.
Your Network Is Important
Gain insight by speaking to acquaintances who have had similar roles, or reaching out through professionally-oriented networks in addition to brainstorming members within professional organizations.
Prepare Talk points
The time spent in preparing for a negotiation is always well spent. You’ll be more confident when presenting your case if you have a clear outline of your talking points before the deadline.
Here are some instances of what you could consider during your salary negotiation:
- Education and certification
- Experience gained through years of relevant work
- Performances and results
- A unique set of skills and characteristics (e.g., bilingualism)
- Industry-specific knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could aid in conversations, so that you don’t miss any crucial points.
Be confident & concise
When you negotiate your salary it is essential to be confident and clear. Be clear about your experience as well as your achievements and expectations for the job. It is important to keep a positive attitude throughout this discussion so that the employer feels like you’re not seeming aggressive.
Highlight Tangible Results
Simply saying that you are ambitious, hardworking, and goal-oriented may not be enough to make an strong appeal. It is important to present clear and precise data about how your previous positions made a an impact in the workplace or the value of specific skills that can benefit an organization.
Keep your mind open
If the employer isn’t able to agree to your salary or compensation plan in full 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(? ).
Keep your cool throughout the negotiation process - regardless of how successfully or not: fighting too much or making unreasonable demands could lead to a negative outcome for all parties that is.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Be attentive to the your counterpart during negotiations. Listen to the amount requested carefully and clarifying doubts if at all while gently sticking with original request. Both parties should ultimately arrive at acceptable outcomes.
Take what you have learned from these conversations and apply it to future 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 | Contact friends and acquaintances who’ve held similar roles or connect with professional networks in addition to brainstorming members of professional associations. |
| Create talking points | Education & certification, Years of relevant work experience, results and accomplishments, unique skills and characteristics (e.g. bi-lingualism) and industry knowledge. Training potential |
| Be confident & concise | Be clear about your experience, achievements and job expectations. Use tangible results to highlight your achievements. |
| Keep your mind open | Ask about alternative incentives like incentive structures based on performance rather than Base salary. (?). Keep your professional conduct during the negotiation process. |
| Practice active listening | Listening is equally as important as communicating in these kinds of conversations. Learn from these conversations and incorporate them into future negotiations you’ll likely take part in. |
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Frequently asked questions
What is salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation package for a particular job. During this process you will be able to discuss not just your salary base, but also benefits like retirement plans, health insurance and many more.
Why is it important to bargain on salary?
Negotiating your pay can provide you a better financial future and show you are aware of your worth. This can help you avoid putting money on the table.
How soon should I negotiate my salary?
It is recommended to begin negotiations after you have received an offer, so that all parties are aware of what is being discussed. This way, the negotiations will be focused on securing the best terms, while avoiding any surprise.
What if I am content with the offer without negotiating?
If you accept an offer and are pleased with the offer, then there’s no reason to negotiate. However, it’s essential to have transparent communication about what your employer’s expectations with regards to things like rewards based on performance or reimbursements for career training.
Can I negotiate my salary if switching careers completely?
Negotiating salary when you change career paths can require extra planning because your prior experiences might not translate or be a part of the new job. Learn about the salaries similar to those in related fields pay in order to get a solid knowledge of the realistic expectations you can set for yourself, given the specific circumstances.
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