How to Negotiate Salary for Your Next Career Move
A salary negotiation can be difficult to talk about, because it involves balancing what believe you’re worth with what your employer believes they’ll be able to afford. However, if done correctly it can be an enjoyable experience for both parties, resulting in a better salary for the employee and a greater employee engagement in their work. Learn how to make your salary negotiation a success.
Principal Takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to ensure the salary you request is reasonable.
- Collect information through connecting with colleagues through online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of time, including education & certificates, years of relevant experiences, achievements and results with a unique set of skills and qualities, industry knowledge, and the potential for further training.
- During the negotiation, you must be confident and clear, but be flexible and open. You should highlight tangible results you achieved in your previous positions.
- Keep a positive and upbeat tone throughout the conversation, and practice active listening.
Do your research
Prior to entering any negotiations regarding salary, it’s essential to do thorough research on market rates and industry standards to make sure your salary offer is reasonable. Some factors that can affect this include the level of experience, degree, size of the company, and location (?). Another great method to gather information is to make connections with colleagues and others within your area of work.
Research Online
With the aid of online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a an extensive view of the benchmarking range of salaries companies pay for the same role which will gives you an idea of the current market rate and a few other aspects related to the job.
Your Network is Essential
Find out more about your situation by talking with people who have had similar roles or reaching out via professionals networks in addition to brainstorming members of professional associations.
Prepare 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 set of talk points that you have outlined in advance.
Here are a few ideas of things that you could consider to include in your salary negotiation:
- Certification and education
- Years of relevant experience
- The results and accomplishments
- A unique set of skills and characteristics (e.g. bilingualism)
- Industry knowledge
- Training potential
A notepad or notebook can be helpful during conversations so it is not lost important points.
Be confident & concise
During a salary negotiation, it’s important to be confident and articulate. Talk clearly about your work experience accomplishments, your job goals and achievements. It’s important to maintain an optimistic tone throughout the discussion so that the employer feels like you’re not seeming unfriendly.
Highlight the tangible results
Simply stating one is ambitious, hardworking, and focused may not be enough for an impactful appeal. It is important to present clear and precise data regarding the ways in which previous jobs made significant difference to companies or how valuable are specific qualities that benefit the organization.
Keep your mind open
If your employer isn’t able to agree to your salary request or compensation package being flexible and open will allow for discussion. You can inquire about alternative incentives like performance-based bonus structures instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process - regardless of how successfully or not: Being too aggressive or making unreasonable demands will likely have a negative impact for all parties involved.
Practice active listening
Listening is as crucial as communicating during these kinds of conversations. Pay attention to other party during negotiations hearing requested amount carefully & clarifying doubts as much as you can while maintaining the initial request. Both parties should ultimately come out with acceptable results.
Learn from these conversations and incorporate them into future negotiations that you’re likely to be involved in. Following the tips above goes far in maximizing the chance of achieving positive outcomes that are mutually beneficial.
| Your Network is Important | Speak to friends who have had similar experiences or connect with professionally-oriented networks as well doing brainstorming members of professional associations. |
| Create talking points | Qualifications and training, Years of relevant experience, Performance and achievements, Unique ability and traits (e.g. bi-lingualism) Know-how in the field, ability to train |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Make sure you highlight tangible results. |
| Be flexible | Ask about alternative incentives like incentive structures based on performance rather than Base salary. (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as speaking during these kinds of conversations. Consider what you’ve learned from these discussions and incorporate it into any future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Negotiating salary is negotiating and deciding on the compensation plan for a job. When you negotiate this, you can discuss not just your salary base, but also other benefits like health insurance, retirement plans and much more.
Why is it important to discuss salary?
Negotiating your salary will give you a more secure financial future and show you’re aware of what you’re worth. It will also allow you to keep money off the table.
When should I begin to negotiate a salary?
It is recommended to begin negotiations immediately after receiving an offer so that everyone is informed of what’s being discussed. This way, the negotiations will be focused on securing the best terms, while avoiding any unpleasant surprises.
What happens if I am satisfied with the deal I received without any negotiation?
If you are offered a job and are content with the offer, then there’s no need to bargain. But it’s important to communicate clearly what employers will provide in the form of rewards based on performance or reimbursements for career training.
Can I negotiate salary when switching careers completely?
Negotiating your salary after changing career paths may require added training because your previous work experiences might not translate or encapsulate new responsibilities. Find out what similar jobs in related industries pay in order to get a solid knowledge of the realistic expectations you can set for yourself, given the particular circumstances you face.
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