How to Negotiate Salary for Your Next Career Move
A salary negotiation can be a difficult conversation, as it is about balancing what you think you’re worth versus the amount an employer believes they’re able to afford. However, if done correctly it can result in positive for both parties, resulting in a greater salary for the employee, as well as greater employees’ engagement in their jobs. Learn how to bargain your salary in confidence.
Key Takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to make sure that the salary you request is reasonable.
- Get information from networking with colleagues, using online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Create talking points ahead of time, including education & certificates in the form of years of relevant work experience, results & achievements, unique skill set & qualifications, industry knowledge and potential for training.
- During negotiations, be confident and clear, but be flexible and open-minded. You should highlight tangible results you achieved in your previous positions.
- Maintain a positive tone throughout the conversation and be active in your listening.
Do your research
Before you enter any pay negotiation, it’s crucial to conduct thorough research on current market rates and industry standards to make sure your salary offer is reasonable. Factors that might impact this could include your experience levels, the size of your company and the location of the company. (?). One great way to gather data is to connect with your colleagues or those within your field of work.
Research Online
Utilizing internet-based resources like [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https: //www. linkedin. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you will get a more comprehensive information about the benchmarking range of salary businesses pay for the same job. It will provide you with an idea of the market rate and a few other facets of an employment.
Your Network is Important
Find out more about your situation by talking with people who have had similar positions, or contacting them through professionally-oriented networks in addition to brainstorming members within professional organizations.
Prepare Talk points
Preparing for a negotiation is always time well spent. You’ll be more confident in presenting your case if you have a clear set of talking points outlined ahead of time.
Here are a few suggestions of what you could consider when negotiating your salary:
- Education and certification
- Years of relevant experience
- The results and accomplishments
- Unique set of skills and attributes (e.g. language proficiency,)
- Industry-specific knowledge
- Training potential
A notepad or notebook can also help during conversations so that one doesn’t forget any important points.
Be confident & concise
When you negotiate your salary it is essential to be confident and clear. Make sure you are clear about your past experiences, achievements and job expectations. It’s essential to maintain an optimistic tone throughout the conversation so that the employer feels like you’re not coming across as insecure.
The Key to Tangible Results
Simply saying that you are determined, hardworking and focused may not be enough for an strong appeal. It is important to present clear and precise data regarding the ways in which previous jobs made an impact in the workplace or how valuable are specific skills that can benefit an organization.
Stay flexible
If your employer isn’t able to your salary or compensation package outright, remaining flexible and open-minded will help open the door to discussions. You can inquire about alternative rewards, like performance-based bonus structures instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation - regardless of how successfully or badly it’s going Being too aggressive or making unreasonable demands could have a negative impact for everyone who is involved.
Practice active listening
Listening is just as important as communicating in these types of conversations. Pay attention to your counterpart during negotiations. Listen to requested amount carefully & clarifying doubts, if necessary, while gently sticking with what you originally requested. The goal is to arrive at acceptable outcomes.
Take what you have learned from these conversations and apply it to future discussions you’ll probably be involved in. Following the tips above goes a long way towards maximizing your chances of reaching positive outcomes that are mutually beneficial.
| Your Network is Important | Speak to friends who’ve held similar roles or reach out to networking networks for professionals as well as brainstorming members of professional associations. |
| Make Talk points | Certification and education, Years of relevant work experience, results and achievements, Unique skills and characteristics (e.g. bi-lingualism) Knowledge of the industry, ability to train |
| Be confident & concise | Talk clearly about your personal experiences accomplishments, job goals and achievements. Make sure you highlight tangible results. |
| Stay flexible | You can inquire about alternative incentives such as incentive structures based on performance rather than Base salary. (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important in these types of conversations. Take what you have learned from these conversations and incorporate them into the future negotiations you’ll likely take part in. |
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Frequently asked questions
What is the concept of salary negotiation?
Negotiating salary is discussing and finalizing the compensation package for a particular job. Through this process you will be able to discuss not only your base salary but also other benefits, such as health insurance, retirement plans and many more.
Why is it necessary to bargain on salary?
Negotiating your salary can give you a better financial future as well as indicate that you’re aware of what you’re worth. This can help you keep money off the table.
When should I begin to negotiate for a raise?
It is ideal to begin negotiations after you have received an offer, so that all parties are informed of what’s being discussed. Then, the negotiations will focus on securing ideal terms while avoiding surprises.
What happens if I am satisfied with the package I was offered without negotiation?
If you are offered a job and are content with it, then there’s probably no need to negotiate. But it’s important to be clear about what your employer’s expectations regarding things such as compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? switching careers completely?
The negotiation of salary for changing career paths may require added preparation because your past experiences may not be directly applicable or overlap with new responsibilities. Research what similar roles in related industries pay to gain a robust idea of what realistic expectations are for yourself, given the specific circumstances.
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