How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be difficult to talk about, because it involves balancing what consider your worth and what an employer thinks they’re able to afford. If it’s done right, it can be an enjoyable experience for both the employer and employee, which results in a greater salary for the employee, as well as greater employee engagement in their work. Learn how to negotiate your salary with confidence.
Important Takeaways
- Before you make a salary offer take a look at market rates and industry standards to confirm that the salary you request is reasonable.
- Get information from connecting with colleagues through online resources such as LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead the time, including education and certificates, years of relevant experiences, achievements and results with a unique set of skills and qualifications, industry knowledge and training opportunities.
- During negotiations, be assertive and confident, yet flexible and open. You should highlight tangible results you’ve achieved in your previous positions.
- Maintain a positive tone throughout the conversation and be active in your listening.
Do your research
Prior to entering any pay negotiation, it’s crucial to conduct a thorough investigation of current market rates and industry standards to ensure that your salary request is realistic. Things that may affect this may include experience level, company size and the location of the company. (?). One way to gather information is to make connections with colleagues or other professionals who are in the same profession.
Research Online
With the help of online resources such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a more substantial approach towards the salary range that benchmarking companies pay for the same job. It will provide you with an idea about current market rates and other elements that are related to the job.
Your Network is Vital
Gain insight by speaking to people who have had similar roles or reaching out via professionally-oriented networks as well doing brainstorming professionals in professional organizations.
Create Talk points
Preparing for a negotiation is always time well spent. You’ll be more confident when the presentation of your case if have a clearly defined list of points to discuss ahead of time.
Here are some examples of what you might want to think about to include in your salary negotiation:
- Education and certification
- Years of relevant experience
- Achievements and results
- Particular skill set and traits (e.g. language proficiency,)
- Knowledge of the industry
- Training potential
Also keeping notes/notebook handy can be helpful during conversations so that you don’t miss any important information.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and articulate. Speak clearly about your experiences as well as your achievements and expectations for the job. It’s important to maintain your tone of voice positive throughout the dialogue so that the employer isn’t being aggressive.
Highlight Tangible Results
Simply stating one is determined, hardworking and focused may not be enough to make an strong appeal. It is important to present clear and precise data on how previous roles made an impact in the workplace or the value of specific capabilities that help an organisation.
Remain flexible
If your employer isn’t able to agree to your salary or compensation arrangement, remaining flexible and open-minded will help open the door to discussions. It is possible to inquire about alternative incentives like performance-based bonus models instead of the Base salary(? ).
You must remain professional throughout the negotiation process - no matter how well or badly it’s going being too combative or imposing unreasonable demands can have a negative impact for everybody affected.
Practice active listening
Listening is just as important as communicating during these types of conversations. Do listen actively from another party while you negotiate, listening to the the amount requested carefully and clarifying questions if needed, but maintaining the what you originally requested. Both parties should ultimately arrive at acceptable outcomes.
Use the lessons you’ve learned away from these conversations and apply it to future negotiations you’ll likely take part in. The tips mentioned above will go far in maximizing the chances of achieving an agreement that is mutually beneficial.
| Your Network is Important | Contact friends and acquaintances who have been in similar positions or reach out to the professional network in addition to brainstorming members of professional associations. |
| Prepare talking points | Certification and education, Years of relevant work experience, results and achievements, unique skill set and qualities (e.g., bilingualism) Knowledge of the industry, ability to train |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Make sure you highlight tangible results. |
| Keep your mind open | You can inquire about alternative incentives such as the performance-based bonuses instead of Base salary. (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial as communicating in these kinds of conversations. Take what you have learned away from these conversations and apply it to future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
The process involves negotiating and deciding on the compensation package for a particular job. Through this process you are able to discuss more than just your salary base, but also other benefits like retirement plans, health insurance and many more.
Why is it so important to negotiate salary?
Negotiating your salary can give you a better financial outlook as well as show that you are aware of your worth. This can help you avoid leaving money on the table.
When should I start negotiating the salary?
It is recommended to begin negotiations after receiving an offer so that all parties are conscious of what’s being negotiated. So, negotiations are focused on securing perfect terms while avoiding unexpected surprise.
What if I am happy with the offer with no negotiation?
If you are offered a job and you are satisfied with it, then there’s no reason to discuss it. However, it’s still essential to be clear about what employers will provide with regards to things like compensation for training or performance-based bonuses.
Can I negotiate my salary if I change careers entirely?
Negotiating salary when you change career paths may require added preparation due to the fact that your previous experience might not directly translate or encapsulate new responsibilities. Study what similar positions in similar fields pay in order to get a solid understanding of realistic expectations for you, considering the particular circumstances you face.
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