How to Negotiate Salary for Your Next Career Move
A salary negotiation is a difficult conversation, as it requires you to balance what you consider your worth and what your employer believes they’re able to pay. However, if done correctly it can be a positive experience for both sides that results in a higher pay for the employee and greater employees’ engagement in their jobs. Here’s how you can negotiate your salary with confidence.
The most important takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to make sure that your salary proposal is realistic.
- Gather information through socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Plan your talk points ahead of the time, including education and certificates and years of relevant experiences, achievements and results and unique skills qualities, industry knowledge, and potential for training.
- During negotiations, be confident and clear, but be flexible and open-minded. Bring out tangible results you’ve achieved in your previous roles.
- Maintain a positive mood throughout the conversation and make sure you are listening actively.
Do your research
Before you enter any salary negotiation, it’s important to do thorough research on current market rates and industry standards to ensure that your salary request is realistic. Things that may affect the amount you are offered could be the level of experience, level, company size, and location (?). One way to gather information is to network with colleagues or others who are in the same profession.
Research Online
With the help of online sources, like [LinkedIn Salary] (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. htm) you will get a an additional perspective on the range of benchmarking salaries businesses are providing for same job. This will give you an idea of the current market rates and other aspects related to a job.
Your Network is Important
Learn more by talking to acquaintances who have had similar roles, or reaching out via professional networks in addition to brainstorming members of professional associations.
Create talking points
The time spent in 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 prior to the time.
Here are a few ideas of things that you might want to think about including in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Performances and results
- Unique set of skills and attributes (e.g. the ability to speak two languages)
- Know-how in the field
- Potential for training
Notes and notebooks can assist during conversations to ensure that one doesn’t miss any important details.
Be confident & concise
In a negotiation for a salary It is important to be confident and articulate. Be clear about your experience of accomplishments and your expectations. It’s essential to maintain an optimistic tone throughout the conversation so that the person who is hiring you feels that you’re not appearing to be insecure.
Highlight Tangible Results
Simply stating that someone is driven, hardworking, and focused may not be enough to generate an strong appeal. Therefore, provide clear data about how your previous positions made a an impact in the workplace or what are the most valuable abilities that benefit the organization.
Stay flexible
If the employer isn’t able to your salary request or compensation plan in full, remaining flexible and open-minded will help open the door to discussions. You can inquire about alternative incentive options such as performance-based bonuses or structures, instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation process no matter how well or not: fighting too much or making unreasonable demands can cause a negative result for all parties affected.
Practice active listening
Listening is equally as important as speaking during these kinds of conversations. Listen attentively from the another party while you negotiate, listening to the requested amount carefully & clarifying doubts as much as you can while maintaining the original request. Ultimately both parties should be able to reach a satisfactory conclusion.
Use the lessons you’ve learned from these conversations and incorporate it into the next negotiations you’ll likely take part in. Applying the advice above goes a long way towards maximizing your chances of achieving positive, mutually beneficial results.
| Your network is important | Have a chat with friends who have been in similar positions or reach out to networking networks for professionals as well as brainstorming members of professional associations. |
| Plan Talk points | Education & certification, Years of relevant experience, Results and accomplishments, unique skill set and qualities (e.g. multilingualism) and industry knowledge. ability to train |
| Be confident & concise | Be clear about your experience your accomplishments and expectations for the job. Highlight Tangible Results. |
| Stay flexible | Ask about alternative incentives like the performance-based bonuses instead of Base salary. (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally important as speaking during these kinds of conversations. You can take the lessons you’ve learned from these conversations and apply it to future conversations you’ll probably be involved in. |
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Frequently asked questions
What is the concept of salary negotiation?
It is the act of discussing and deciding on the compensation plan to be paid for your job. During this process you are able to discuss more than just your salary base, but also other benefits, such as retirement plans, health insurance and much more.
Why is it so important to negotiate a salary?
Negotiating your salary will give you a greater financial future as well as show that you’re aware of what you’re worth. It also helps you avoid leaving money on the table.
What is the best time to negotiate a salary?
It is ideal to begin negotiations after you have received an offer, so everyone is conscious of what’s being discussed. In this way, negotiations will focus on securing the best terms, while avoiding any surprise.
What happens if I am satisfied with the package I was offered without negotiating?
If you are offered a job and are content with it, then there may be no need to negotiate. It’s nevertheless important to have transparent communication about what the employer will offer with regards to things like compensation for training or performance-based bonuses.
Can I negotiate salary when I change careers entirely?
Salary negotiation when changing career paths may require added preparation because your past experiences might not translate or be a part of the new job. Learn about the salaries similar to those in similar fields pay to gain a robust knowledge of the realistic expectations you can set for yourself, in light of the specific circumstances.
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