How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it requires you to balance what you believe you’re worth with what an employer thinks they’re able to afford. But, if it’s done correctly it could be an enjoyable experience for both parties that results in a higher salary for the employee, as well as greater employee engagement in their work. Learn how to make your salary negotiation a success.
The most important takeaways
- Before you make a salary offer study market rates and industry standards to ensure that your salary proposal is realistic.
- Gather information through connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Prepare talking points ahead of the time, including education and certification in the form of years of relevant work knowledge, accomplishments and achievements and unique skills abilities, industry expertise, and training potential.
- In the course of negotiations, you should be assured and confident but remain flexible and open. You should highlight tangible results you achieved in your previous positions.
- Keep a positive attitude throughout the conversation and make sure you are listening actively.
Do your research
Prior to entering any salary negotiation, you need to conduct a thorough study of standard industry rates and market rates to ensure that your salary request is realistic. Things that may affect this include experience levels, the size of your company, and location (?). A great method of gathering information is to network with colleagues or other professionals in your chosen profession.
Research Online
With the help of some online resources, such as [LinkedIn Salary] (https http://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 companies pay for the same job. This gives you an idea of the market rate plus few other factors related to the position.
Your Network is Essential
Get insight from talking to people who have had similar roles, or reaching out via professional networks as well doing brainstorming members of professional associations.
Create Talk points
The time spent in preparing for a negotiation is always time well spent. You’ll feel much more confident when giving your argument if you are prepared with a specific outline of your talking points in advance.
Here are some examples of things that you could consider including in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Performances and results
- Particular skill set and traits (e.g. the ability to speak two languages)
- Knowledge of the industry
- Potential for training
The idea of keeping a notepad and/or notes handy could be helpful during conversations so that one doesn’t forget any important information.
Be confident & concise
In a salary negotiation, it’s important to be confident and articulate. Talk clearly about your work experience of accomplishments and your expectations. It is important to keep your tone of voice positive throughout the discussion so that the employer isn’t coming across as unfriendly.
The Key to Tangible Results
Simply stating one is driven, hardworking, and focused may not be enough for an appealing appeal. It is important to present clear and precise data regarding the ways in which previous jobs made an impact in the workplace or how valuable are specific capabilities that can benefit an organization.
Keep your mind open
If the employer isn’t able to your requested salary or compensation arrangement, remaining flexible and open-minded will help open the door to dialogue. You may be able to ask for alternative incentive options such as performance-based bonuses or structures, instead of Base salary(? ).
You must remain professional throughout the negotiation process - regardless of how successfully or poorly it’s going Being too aggressive or imposing unreasonable demands can result in an unfavourable outcome for everyone affected.
Practice active listening
Listening is just as important as communicating in these types of conversations. Listen attentively from the your counterpart during negotiations. Listen to specific requests and resolving questions if needed, but gently sticking with initial request. Ultimately both parties should arrive at acceptable outcomes.
Use the lessons you’ve learned from these conversations and incorporate it into any future talks you’re likely to participate in. By following the suggestions above, you will go an enormous way to increasing your chances of achieving positive outcomes that are mutually beneficial.
| Your Network is Important | Speak to friends who have held similar roles or reaching out through the professional network in addition to brainstorming members within professional organizations. |
| Prepare talking points | Education & certification, Years of relevant experience and achievements, unique abilities and skills (e.g. multilingualism) and industry knowledge. the potential for training |
| Be confident & concise | Speak clearly about your experiences accomplishments, job goals and achievements. Use tangible results to highlight your achievements. |
| Remain flexible | Find out about other incentives, such as performance-based bonus structures instead of Base salary. (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is equally important as speaking during these kinds of conversations. Take what you have learned away from these conversations and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
The process involves discussing and deciding on the compensation package to be paid for your job. When you negotiate this it is possible to discuss not only the base salary, but also additional benefits such as health insurance, retirement plans as well as other benefits.
Why is it so important to negotiate salary?
Negotiating your salary could give you a better financial outlook and also show that you’re confident about your worth. It can also help you avoid leaving money on the table.
When should I begin to negotiate a salary?
It is ideal to begin negotiations after receiving an offer so that all parties are aware of the terms being negotiated. This way, the negotiations will be focused on securing the best terms, while avoiding any unintentional surprises.
What if I am happy with the offered package without any negotiation?
If you receive an offer and are pleased with the offer, then there’s no need to discuss it. However, it’s essential to have transparent communication about what the employer will offer regarding things such as rewards based on performance or reimbursements for career training.
Do I have the option of negotiating my salary when switching careers completely?
The negotiation of salary for changing career paths may require added preparation due to the fact that your previous experience may not directly translate or relate to the new duties. Find out what similar jobs in similar fields pay, to develop a thorough comprehension of realistic expectations for you, considering your particular situation.
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