How to Negotiate Salary for Your Next Career Move
Negotiating your salary is difficult to talk about, because it requires you to balance what you consider your worth and what the employer thinks they can afford. If it’s done right it can result in positive for both parties, resulting in a higher salary for the employee as well as greater employee engagement in their work. Learn how to bargain your salary in confidence.
Principal Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to make sure that your salary proposal is realistic.
- Find out information by networking with colleagues, using websites like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Plan your talk points ahead of time, including education and certifications in the form of years of relevant work experience, the results and achievements, unique skill set & qualifications, industry knowledge and the potential for further training.
- During the negotiation, you must be confident and articulate but also flexible and open-minded. Highlight tangible results that you’ve had in your previous positions.
- Maintain a positive tone throughout the conversation, and be active in your listening.
Do your research
Before you enter 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 the location of the company. (?). One way to gather information is to make connections with your colleagues or those who are in the same job field.
Research Online
Utilizing online sources, like [LinkedIn Salary] (https: //www. linkedin. com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a an additional perspective on the benchmarking range of salaries businesses are providing for same job. This will give you an idea about current market rate and a few other facets of the job.
Your Network is Vital
Learn more by talking to colleagues who have been in similar roles, or reaching out through the professional networks in addition to brainstorming members of professional associations.
Plan Talking points
Preparing for a negotiation is always well spent. You’ll be more confident when the presentation of your case if have a clearly defined outline of your talking points before the deadline.
Here are a few ideas of things you could consider including in your salary negotiation:
- Certification and education
- Years of relevant experience
- Performances and results
- Unique set of skills and attributes (e.g. the ability to speak two languages)
- Industry knowledge
- Potential for training
Also keeping notes/notebook handy can assist during conversations to ensure it is not lost important points.
Be confident & concise
During a salary negotiation It is important to be confident and clear. Speak clearly about your experiences, achievements and job expectations. It’s essential to maintain an optimistic tone throughout the conversation to ensure that your employer doesn’t feel like you’re appearing to be hostile.
The Key to Tangible Results
Simply stating one is determined, hardworking and goal-oriented might not be enough to make an impressive appeal. So put forward clear statistics about how your previous positions made a distinction in businesses or what are the most valuable abilities that help an organisation.
Keep your mind open
If your employer isn’t able to agree to your salary request or compensation plan in full, remaining flexible and open-minded will allow 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 Being too aggressive or making unreasonable demands could lead to a negative outcome for everyone involved.
Practice active listening
Listening is as crucial as communicating during these types of conversations. Pay attention to another party while you negotiate, listening to the requests carefully and clarifying doubts if at all while keeping to the what you originally requested. Ultimately both parties should arrive at acceptable outcomes.
Learn away from these conversations and incorporate them into future talks you’re likely to participate in. By following the suggestions above, you will go a long way towards maximizing your chances of reaching positive outcomes that are mutually beneficial.
| Your Network is Important | Contact friends and acquaintances who have held similar roles or reaching out through professional networks in addition to brainstorming members within professional organizations. |
| Prepare Talk points | Training and certification, years of relevant experience and accomplishments, Unique ability and traits (e.g., bilingualism), Industry knowledge, ability to train |
| Be confident & concise | Talk clearly about your personal experiences your accomplishments and expectations for the job. Highlight Tangible Results. |
| Remain flexible | You can inquire about alternative incentives such as performance-based bonus structures instead of Base salary. (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is just as important as speaking during these kinds of conversations. You can take the lessons you’ve learned from these discussions and incorporate it into any future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
It is the act of negotiating and deciding on the compensation package for a position. During this process, you can discuss not only your base salary but also additional benefits such as health insurance, retirement plans and many more.
Why is it necessary to discuss salary?
Negotiating your salary can give you a more secure financial future and show you are aware of your worth. It will also allow you to avoid putting money on the table.
When should I start negotiating my salary?
It’s best to begin negotiating after receiving an offer so everyone is informed of what’s being negotiated. In this way, discussions are focused on negotiating perfect terms while avoiding unexpected surprises.
What if I am content with the deal I received with no negotiation?
If you get an offer and are pleased with it, then there’s probably no need to discuss it. However, it’s essential to be clear about what the employers are willing to offer with regards to things like the performance-based bonus or career-training reimbursements.
Can I negotiate my salary if changing careers?
Salary negotiation when changing career paths could require additional preparation due to the fact that your previous experience might not directly translate or overlap with new responsibilities. Find out what similar jobs in similar fields offer to have a clear understanding of realistic expectations for you, considering the particular circumstances you face.
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