How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an arduous process because it involves balancing what consider your worth and what your employer believes they’re able to pay. However, if done correctly, it can be a positive experience for both parties that results in a greater salary for the employee and greater satisfaction for the employees in their work. Learn how to negotiate your salary with confidence.
The most important takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to ensure that your salary proposal is realistic.
- Collect information through the networking of colleagues, using online resources such as LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Create talking points ahead of time, including education & certification and years of relevant experience, results & achievements, unique skill set & abilities, industry expertise, and training opportunities.
- During negotiations, be confident and articulate but also flexible and open-minded. Highlight tangible results that you’ve had in your previous roles.
- Maintain a positive tone throughout the conversation, and be active in your listening.
Do your research
Prior to entering any salary negotiation, it’s important to conduct a thorough investigation of current market rates and industry standards to make sure your salary offer is realistic. Factors that might impact this could include experience levels, the size of your company as well as location. (?). One way to gather data is to connect with colleagues or other professionals who are in the same field of work.
Research Online
With the help of online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. https://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. htm) you will get a an additional perspective on the benchmarking range of salaries businesses are providing for same job. This gives you an idea of the current market rate and a few other elements that are related to an employment.
Your Network Is Vital
Get insight from talking to friends who have held similar positions or reaching out via professionals networks as well doing brainstorming members within professional organizations.
Plan Talking points
Preparing for any negotiation is always time well spent. You’ll feel much more confident in presenting your case if you have a clear outline of your talking points prior to the time.
Here are a few suggestions of things that you could consider to include in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Performances and results
- Particular skill set and traits (e.g. bilingualism)
- Industry-specific knowledge
- Training potential
Notes and notebooks can be helpful during conversations so that one doesn’t forget any crucial points.
Be confident & concise
In a negotiation for a salary it’s crucial to appear confident and articulate. Make sure you are clear about your past experiences, achievements and job expectations. It’s crucial to maintain your tone of voice positive throughout the conversation so that the employer feels like you’re not seeming aggressive.
Highlight the tangible results
Simply stating that someone is ambitious, hardworking, and goal-oriented may not be enough to make an appealing appeal. So put forward clear statistics regarding how prior roles have made a an impact in the workplace or what are the most valuable skills that help an organisation.
Stay flexible
If your employer isn’t able to your salary or compensation package being flexible and open will allow for dialogue. You could ask about alternative rewards, like performance-based bonus models instead of the Base salary(? ).
Keep your cool throughout the negotiation - regardless of how well or poorly it’s going getting too defensive or imposing unreasonable demands is likely to result in an unfavourable outcome for all parties involved.
Practice active listening
Listening is just as important as communicating during these types of conversations. Be attentive to the another party while you negotiate, listening to the requests carefully and clarifying questions if needed, but gently sticking with original request. In the end, both parties must achieve satisfactory results.
Use the lessons you’ve learned away from these conversations and incorporate it into the next negotiations that you’re likely to be involved in. Following the tips above goes an enormous way to increasing the chance of achieving positive, mutually beneficial results.
| Your network is important | Contact friends and acquaintances who have had similar experiences or reach out via networking networks for professionals as well as brainstorming members within professional organizations. |
| Make talking points | Education & certification, Years of relevant experience and accomplishments, Unique skill set and qualities (e.g. the ability to speak two languages), Industry knowledge, ability to train |
| Be confident & concise | Talk clearly about your personal experiences accomplishments, job goals and achievements. Use tangible results to highlight your achievements. |
| Remain flexible | Consider alternative incentives such as performance-based bonus structures instead of Base salary (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is equally as important as communicating during these types of conversations. Consider what you’ve learned away from these conversations and apply it to future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
Salary negotiation is the process of negotiating and deciding on the compensation plan for a particular job. When you negotiate this it is possible to discuss not just your salary base, but also other benefits like retirement plans, health insurance, and more.
Why is it necessary to negotiate a salary?
Negotiating your pay can provide you a greater financial future as well as indicate that you’re confident about your worth. It also helps you not leave money on the table.
When should I start negotiating for a raise?
It is best to begin negotiations following the acceptance of an offer to ensure that all parties are aware of what is being negotiated. In this way, negotiations are focused on securing optimal terms and avoid unintentional surprises.
What happens if I am completely satisfied with the offered package with no negotiation?
If you are offered a job and are happy with the offer, then there’s no need to bargain. But it’s important to provide clear information about what employers will provide in the form of the performance-based bonus or career-training reimbursements.
Can I negotiate my salary if switching careers completely?
The negotiation of salary for changing career paths could require additional planning because your prior experience may not directly translate or encapsulate new responsibilities. Learn about the salaries similar to those in related industries offer to have a clear idea of what realistic expectations are for you, considering your particular situation.
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