How to Negotiate Salary for Your Next Career Move
A salary negotiation is an arduous process because it is about balancing what you consider your worth and what the employer thinks they’re able to pay. If it’s done right, it can be positive for both sides that results in a higher salary for the employee and a greater employees’ engagement in their jobs. Here’s how you can negotiate your salary with confidence.
Principal Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to ensure that the salary you request is reasonable.
- Gather information through connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education and accreditation and years of relevant knowledge, accomplishments and achievements with a unique set of skills and qualifications, industry knowledge and training opportunities.
- During the negotiation, you must be assured and confident but remain flexible and open-minded. Show tangible results that you’ve had in your previous roles.
- Maintain a positive tone throughout the conversation and practice active listening.
Do your research
Prior to entering any salary negotiation, it’s important to conduct thorough research on the market and standards in the industry to make sure your salary offer is realistic. The factors that could affect this may include levels of experience level, company size and geographical location. (?). A great method of gathering data is to connect with colleagues and others in your chosen area of work.
Research Online
With the help of some online resources, such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) you can get an extensive view of the benchmarking range of salaries businesses pay for the same job. This gives you an idea of the market rates and other factors related to a job.
Your Network Is Important
Get insight from talking to friends who have held similar positions, or contacting them through the professional networks as well as brainstorming members within professional organizations.
Make talking points
Time spent preparing for any meeting is time well spent. You’ll feel more confident when giving your argument if you have a set of talk points that you have outlined ahead of time.
Here are some ideas of things that you might want to think about when negotiating your salary:
- Education and certification
- Experience gained through years of relevant work
- Achievements and results
- A unique set of skills and characteristics (e.g. language proficiency,)
- Industry knowledge
- Training potential
Also keeping notes/notebook handy can aid in conversations, so it is not lost important details.
Be confident & concise
In a salary negotiation It is important to be confident and clear. Speak clearly about your experiences as well as your achievements and expectations for the job. It is important to keep an optimistic tone throughout the conversation to ensure that your person who is hiring you feels that you’re not being insecure.
The Key to Tangible Results
Simply stating one is ambitious, hardworking, and goal-oriented may not be enough to create an impressive appeal. So put forward clear statistics regarding how prior roles have made a an impact in the workplace or how important are certain skills that can benefit an organization.
Keep your mind open
If the employer isn’t able to agree to your salary request or compensation plan in full being flexible and open will help open the door to discussion. You may be able to ask for alternative rewards, like performance-based bonus structures instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation - regardless of how smoothly or poorly it’s going: Being too aggressive or imposing unreasonable demands could have a negative impact for everyone involved.
Practice active listening
Listening is equally as important as speaking during these kinds of conversations. Do listen actively from other party during negotiations hearing the amount requested carefully and clarifying questions if needed, but keeping to the their original request. The goal is to be able to reach a satisfactory conclusion.
Consider the lessons you’ve learned from these discussions and incorporate it into any future discussions you’ll probably 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’ve held similar roles or reaching out through professionally-oriented networks and brainstorming with members of professional associations. |
| Make talking points | Qualifications and training, Years of relevant work experience, results and achievements, Unique skill set and qualities (e.g., bilingualism) Know-how in the field, ability to train |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Use tangible results to highlight your achievements. |
| Be flexible | Consider alternative incentives such as bonuses based on performance instead of Base salary. (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is equally important in these types of conversations. Consider what you’ve learned from these discussions and apply it to future negotiations you’ll likely take part in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Salary negotiation is the process of negotiating and deciding on the compensation plan for a particular job. Through this process you are able to discuss more than only your base salary but also benefits like retirement plans, health insurance as well as other benefits.
Why is it important to discuss salary?
Negotiating your salary could give you a more secure financial future and also show that you know your worth. It can also help you not leave money on the table.
When should I start negotiating my salary?
It is ideal to begin negotiations following the acceptance of an offer to ensure everyone is conscious of what’s being discussed. Then, the discussions are focused on negotiating optimal terms and avoid surprise.
What happens if I am satisfied with the offered package without any negotiation?
If you are offered a job and are happy with it, then there may be no need to bargain. However, it’s still essential to provide clear information about what your employer’s expectations regarding things such as rewards based on performance or reimbursements for career training.
Can I negotiate my salary if switching careers completely?
The negotiation of salary for changing career paths could require additional preparation because your past experience may not directly translate or be a part of the new job. Research what similar roles in similar fields offer to have a clear comprehension of realistic expectations for you, based on the particular circumstances you face.
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