How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an arduous process because it involves balancing what you consider your worth and the amount an employer believes they’ll be able to afford. If it’s done right it can result in positive for both the employer and employee, which results in a higher salary for the employee and greater engagement of the employee in their job. Learn how to negotiate your salary with confidence.
Principal Takeaways
- Before you make a salary offer study market rates and industry standards to make sure that your salary offer is fair.
- Get information from networking with colleagues, using online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead time, including education and certificates, years of relevant experience, the results and achievements as well as unique skill sets and qualities, industry knowledge, and training potential.
- During the negotiation, be assertive and confident, yet flexible and open-minded. You should highlight tangible results you’ve achieved in your previous roles.
- Maintain a positive mood throughout the conversation, and engage in active listening.
Do your research
Before entering into any salary negotiation, you need to conduct a thorough study of current market rates and industry standards to ensure that your salary suggestion is realistic. Things that may affect the amount you are offered could be experience degree, size of the company, and location (?). Another great method to gather data is to connect with colleagues and others who are in the same field of work.
Research Online
With the aid of online resources such as [LinkedIn Salary] (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) You can find a more comprehensive information about the salary range that benchmarking businesses are providing for same job. This gives you an idea of the market rate plus few other factors related to the job.
Your Network is Vital
Learn more by talking to friends who have held similar positions, or contacting them via professionally-oriented networks as well as brainstorming professionals in professional organizations.
Prepare talking points
Preparing for any meeting is time well spent. You’ll feel more confident when the presentation of your case if are prepared with a specific set of talking points outlined prior to the time.
Here are a few examples of things you might consider including in your salary negotiation:
- Training and certification
- Years of relevant experience
- Achievements and results
- Particular skill set and traits (e.g. the ability to speak two languages)
- Industry knowledge
- Training potential
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure it is not lost important points.
Be confident & concise
When you negotiate your salary, it’s important to be confident and clear. Speak clearly about your experiences accomplishments, your job goals and achievements. It’s essential to maintain an optimistic tone throughout the conversation so that the employer isn’t appearing to be hostile.
Highlight Tangible Results
Simply saying that you are ambitious, hardworking, and goal-oriented may not be enough to make an impressive appeal. Therefore, provide clear data regarding how prior roles have made a difference in companies or what are the most valuable qualities which benefit organisation
Remain flexible
If your employer isn’t able to agree to your requested salary or compensation plan in full, remaining flexible and open-minded can allow room for dialogue. It is possible to inquire about alternatives to incentives, such as performance-based bonus structures, instead of Base salary(? ).
Keep your cool throughout the negotiation - no matter how well or not: Being too aggressive or imposing unreasonable demands will likely cause a negative result for everybody that is.
Practice active listening
Listening is as crucial as communicating in these types of conversations. Pay attention to other party during negotiations hearing requested amount carefully & clarifying questions if needed, but keeping to the initial request. The goal is to arrive at acceptable outcomes.
Use the lessons you’ve learned from these conversations and incorporate them into future negotiations you’ll likely take part in. Following the tips above goes far in maximizing your chances of reaching positive, mutually beneficial results.
| Your Network is Important | Contact friends and acquaintances who have held similar roles or reach out to professional networks as well doing brainstorming members within professional organizations. |
| Make Talk points | Training and certification, years of relevant experience, Results and accomplishments, Unique abilities and skills (e.g., bilingualism) Know-how in the field, the potential for training |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Focus on tangible results. |
| Stay flexible | Consider alternative incentives such as performance-based bonus structures instead of Base salary. (?). Make sure to remain professional during the negotiation. |
| 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 conversations and incorporate them into the future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
It is the act of discussing and deciding on the compensation package for a position. In this negotiation it is possible to discuss not only the base salary, 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 greater financial future and show you’re confident about your worth. It also helps you keep money off the table.
What is the best time to negotiate the salary?
It is best to begin negotiations following the acceptance of an offer to ensure everyone is informed of what’s being discussed. Then, the negotiations will be focused on securing the best terms, while avoiding any surprise.
What happens if I am satisfied with the offered package without any negotiation?
If you receive an offer and are content with it, there’s no reason to negotiate. But it’s important to provide clear information about what your employer’s expectations with regards to things like rewards based on performance or reimbursements for career training.
Can I negotiate salary when I change careers entirely?
Negotiating your salary after changing career paths could require additional preparation because your past experiences may not be directly applicable or encapsulate new responsibilities. Research what similar roles in related fields pay to gain a robust idea of what realistic expectations are for yourself, given the particular circumstances you face.
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