How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be difficult to talk about, because it involves balancing what you consider your worth and what an employer thinks they’re able to afford. If it’s done right it can result in an enjoyable experience for both parties that results in a higher 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, research market rates and industry standards to make sure that your salary request is realistic.
- Gather information through the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Prepare talking points ahead of the time, including education and certification, years of relevant experience, the results and achievements, unique skill set & capabilities, knowledge of the industry, and training opportunities.
- In the course of negotiations, you should be confident and clear, but be flexible and open. Show tangible results that you’ve had in your previous roles.
- Maintain a positive mood throughout the conversation, and practice active listening.
Do your research
Before you enter any negotiations regarding salary, it’s essential to conduct thorough research on market rates and industry standards to ensure that your salary suggestion is realistic. Factors that might impact the amount you are offered could be the level of experience, degree, size of the company and geographical location. (?). One way to gather information is to network with colleagues or other professionals who are in the same profession.
Research Online
Utilizing online resources such as [LinkedIn Salary] (https: //www. linkedin. com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. htm) you will get a an extensive view of the benchmarking range of salary companies pay for the same role which will gives you an idea of the current market prices and also other factors related to the job.
Your Network is Vital
Learn more by talking to people who have had similar positions, or contacting them through professional networks as well as brainstorming members of professional organizations.
Create Talk points
The time spent in preparing for a negotiation is always time well spent. You’ll feel much more confident when making your case if you have a clear set of talk points that you have outlined before the deadline.
Here are a few instances of things that you could consider including in your salary negotiation:
- Education & certification
- Years of relevant experience
- Performances and results
- Unique set of skills and attributes (e.g. language proficiency,)
- Knowledge of the industry
- Training potential
Also keeping notes/notebook handy can aid in conversations, so that one doesn’t miss any important information.
Be confident & concise
When you negotiate your salary it’s crucial to appear confident and clear. Make sure you are clear about your past experiences accomplishments, your job goals and achievements. It’s essential to maintain a positive attitude throughout this conversation so that the employer feels like you’re not coming across as unfriendly.
The Key to Tangible Results
Simply saying that you are driven, hardworking, and goal-oriented may not be enough to create an impressive appeal. Therefore, provide clear data about how your previous positions made a significant difference to companies or how valuable are specific skills that help an organisation.
Remain flexible
If your employer isn’t able to your salary or compensation package outright being flexible and open will allow for dialogue. You may be able to ask for alternatives to incentives, such as performance-based bonus structures, instead of Base salary(? ).
Be sure remain professional throughout the negotiation process no matter how well or badly it’s going getting too defensive or making unreasonable demands will likely result in an unfavourable outcome for all parties affected.
Practice active listening
Listening is as crucial as communicating in these types of conversations. Do listen actively from other party during negotiations hearing requested amount carefully & clarifying doubts as much as you can while remaining in the spirit of your initial request. Both parties should ultimately come out with acceptable results.
Take what you have learned away from these conversations and incorporate it into any future negotiations that you’re likely to be involved in. The tips mentioned above will go an enormous way to increasing your chances of reaching mutually beneficial outcomes.
| Your network is important | Have a chat with friends who have held similar roles or reach out via the professional network as well as brainstorming members within professional organizations. |
| Create talking points | Qualifications and training, Years of relevant experience and achievements, Unique abilities and skills (e.g. multilingualism) Knowledge of the industry, Potential for training |
| Be confident & concise | Make sure you are clear about your experience accomplishments, job goals and achievements. Use tangible results to highlight your achievements. |
| Stay flexible | Consider 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 important as speaking during these kinds of conversations. Learn away from these conversations and apply it to future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Salary negotiation is the process of negotiating and finalizing the compensation package for a position. During this process you will be able to discuss not just the salary you earn, but also other benefits, such as retirement plans, health insurance and many more.
Why is it important to negotiate a salary?
Negotiating your pay can provide you a greater financial future as well as show that you’re aware of what you’re worth. This can help you avoid putting money on the table.
When should I begin to negotiate the salary?
It is recommended to begin negotiations after receiving an offer so that everyone is aware of what is being negotiated. So, negotiations will focus on securing perfect terms while avoiding unexpected surprises.
What if I am content with the package I was offered without negotiating?
If you get an offer and are happy with it, there’s no need to discuss it. However, it’s still essential to be clear about what your employer’s expectations in the form of rewards based on performance or reimbursements for career training.
Can I negotiate salary when switching careers completely?
The negotiation of salary for changing career paths may require added planning because your prior experience might not directly translate or encapsulate new responsibilities. Find out what similar jobs in related fields offer to have a clear understanding of realistic expectations for yourself, in light of your specific circumstances.
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