How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an extremely difficult process, since it involves balancing what think you’re worth versus what your employer believes they’ll be able to afford. If it’s done right, it can be an enjoyable experience for both the employer and employee, which results in a better salary for the employee and a greater engagement of the employee in their job. Learn how to negotiate your salary confidently.
Principal Takeaways
- Before you make a salary offer, research market rates and industry standards to make sure that your salary request is realistic.
- Collect information through socializing with colleagues, using online tools like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Prepare talking points ahead of time, including education and certifications, years of relevant experiences, achievements and results as well as unique skill sets and qualifications, industry knowledge and training opportunities.
- During the negotiation, be assertive and confident, yet flexible and open-minded. Show tangible results that you’ve achieved in your previous roles.
- Keep a positive attitude throughout the conversation, and make sure you are listening actively.
Do your research
Before you begin any salary negotiation, you need to conduct a thorough study of standard industry rates and market rates to ensure that your salary request is realistic. Some factors that can affect this could include levels of experience degree, size of the company and geographical location. (?). One great way to gather information is to network with colleagues and others in your chosen profession.
Research Online
Utilizing online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a an extensive view of the benchmarking range of salary businesses pay for the same job. It will provide you with an idea of current market rate plus few other aspects related to the position.
Your Network is Important
Gain insight by speaking to colleagues who have been in similar roles or reaching out via the professional networks as well doing brainstorming members of professional associations.
Make Talking points
The time spent in preparing for a negotiation is always time well spent. You’ll be more confident in the presentation of your case if have a clear set of talking points outlined ahead of time.
Here are some instances of items you might want to think about including in your salary negotiation:
- Training and certification
- Years of relevant experience
- The results and accomplishments
- Particular skill set and traits (e.g. language proficiency,)
- Know-how in the field
- Training potential
Notes and notebooks can be helpful during conversations so it is not lost important points.
Be confident & concise
In a salary negotiation it is essential to be confident and articulate. Be clear about your experience as well as your achievements and expectations for the job. It’s important to maintain a positive tone throughout this discussion so that the employer feels like you’re not seeming insecure.
Highlight the tangible results
Simply stating that one is committed, hardworking, and aspire-driven person may not be enough to generate an strong appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made significant difference to companies or what are the most valuable capabilities which benefit organisation
Be flexible
If your employer isn’t able to your salary or compensation plan in full, remaining flexible and open-minded can allow room for dialogue. You could ask about alternative incentive options such as performance-based bonuses or 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 aggressive or making unreasonable demands is likely to cause a negative result for all parties that is.
Practice active listening
Listening is equally as important as speaking during these kinds of conversations. Be attentive to the your counterpart during negotiations. Listen to specific requests and resolving questions if needed, but keeping to the their original request. Ultimately both parties should be able to reach a satisfactory conclusion.
Learn from these conversations and incorporate it into any future negotiations you’ll likely take part in. The tips mentioned above will go a long way towards maximizing the chances of achieving mutually beneficial outcomes.
| Your network is important | Have a chat with friends who have been in similar positions or reach out via professional networks in addition to brainstorming members within professional organizations. |
| Plan Talk points | Qualifications and training, Years of relevant work experience, results and accomplishments, Unique abilities and skills (e.g. bi-lingualism) Know-how in the field, ability to train |
| Be confident & concise | Make sure you are clear about your experience as well as your achievements and expectations. Use tangible results to highlight your achievements. |
| Keep your mind open | You can inquire about alternative incentives such as incentive structures based on performance rather than Base salary. (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally as important as communicating during these types of conversations. You can take the lessons you’ve learned away from these conversations and incorporate them into the future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is salary negotiation?
It is the act of negotiating and deciding on the compensation package for a position. During this process it is possible to discuss not only the base salary, but also other benefits like retirement plans, health insurance as well as other benefits.
Why why is it important to negotiate a salary?
Negotiating your pay can provide you a more secure financial future as well as indicate that you are aware of your worth. It will also allow you to keep money off the table.
When should I start negotiating the salary?
It’s best to begin negotiating immediately after receiving an offer so that everyone is conscious of what’s being negotiated. So, negotiations will be focused on securing ideal terms while avoiding unpleasant surprises.
What if I am content with the package I was offered without any negotiation?
If you receive an offer and are content with it, then there’s no reason to negotiate. However, it’s still essential to be clear about what employers will provide with regards to things like performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when changing careers?
Salary negotiation when changing careers may require more training because your previous work experiences might not translate or encapsulate new responsibilities. Study what similar positions in similar fields offer to have a clear understanding of realistic expectations for you, based on the specific circumstances.
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