How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an arduous process 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 be positive for both parties, resulting in a higher pay for the employee, as well as greater employees’ engagement in their jobs. Here’s how you can make your salary negotiation a success.
Important Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to ensure your salary offer is fair.
- Collect information through socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Create talking points ahead of time, including education & accreditation in the form of years of relevant work experience, the results and achievements with a unique set of skills and abilities, industry expertise, and potential for training.
- During the negotiation, you must be confident and articulate but also flexible and open-minded. Highlight tangible results that you have achieved in previous roles.
- Maintain a positive mood throughout the conversation, and be active in your listening.
Do your research
Before you enter any salary negotiation, you need to conduct thorough research on standard industry rates and market rates to ensure that your salary suggestion is reasonable. Some factors that can affect the amount you are offered could be your experience level, company size as well as location. (?). A great method of gathering data is to connect with colleagues and others within your area of work.
Research Online
With the help of some online resources such as [LinkedIn Salary] (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a an additional perspective on the range of benchmarking salaries businesses are providing for same job. It will provide you with an idea of current market rate and a few other facets of a job.
Your Network is Essential
Learn more by talking to colleagues who have been in similar roles or reaching out via professionally-oriented networks as well as brainstorming members within professional organizations.
Create talking points
The time spent in preparing for a negotiations is always a good time spent. You’ll feel much more confident in the presentation of your case if are prepared with a specific outline of your talking points prior to the time.
Here are some examples of things you could consider to include in your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- Performances and results
- Unique set of skills and attributes (e.g., bilingualism)
- Industry knowledge
- Training potential
Notes and notebooks can be helpful during conversations so that you don’t miss any crucial points.
Be confident & concise
In a salary negotiation it’s crucial to appear confident and articulate. Be clear about your experience, achievements and job expectations. It’s important to maintain a positive tone throughout this discussion so that the employer feels like you’re not coming across as hostile.
Highlight Tangible Results
Simply saying that you are driven, hardworking, and goal-oriented may not be enough for an appealing appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made an impact in the workplace or what are the most valuable capabilities which benefit organisation
Stay flexible
If the employer isn’t able to your salary or compensation package, remaining flexible and open-minded will help open the door to dialog. You may be able to ask for alternative incentives like performance-based bonus models instead of the Base salary(? ).
Keep your cool throughout the negotiation process - regardless of how successfully or poorly it’s going getting too defensive or making unreasonable demands is likely to have a negative impact for everybody who is involved.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Listen attentively from the your counterpart during negotiations. Listen to specific requests and resolving doubts, if necessary, while keeping to the original request. Ultimately both parties should arrive at acceptable outcomes.
Learn from these discussions and incorporate it into the next talks you’re likely to participate in. Applying the advice above goes in the right direction to increase the chance of achieving positive, mutually beneficial results.
| Your network is important | Speak to friends who’ve held similar roles or reach out via networking networks for professionals in addition to brainstorming members within professional organizations. |
| Prepare Talk points | Education & certification, Years of relevant work experience, results and achievements, unique skills and characteristics (e.g., bilingualism), Industry knowledge, the potential for training |
| Be confident & concise | Be clear about your experience as well as your achievements and expectations. Focus on 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 communicating in these kinds of conversations. You can take the lessons you’ve learned from these discussions and apply it to future negotiations you’ll likely take part in. |
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Frequently Asked Questions
What is salary negotiation?
Negotiating salary is discussing and deciding on the compensation plan to be paid for your job. Through this process you are able to discuss more than only the base salary, but also additional benefits such as retirement plans, health insurance, and more.
Why why is it important to discuss salary?
Negotiating your salary can give you a greater financial future as well as indicate that you are aware of your worth. It can also help you avoid leaving money on the table.
How soon should I negotiate the salary?
It’s best to begin negotiating following the acceptance of an offer to ensure everyone is aware of what is being negotiated. In this way, negotiations will be focused on securing ideal terms while avoiding surprises.
What happens if I am completely satisfied with the package I was offered with no negotiation?
If you are offered a job and you are satisfied with it, then there’s probably no need to negotiate. But it’s important to communicate clearly what the employers are willing to offer regarding things such as the performance-based bonus or career-training reimbursements.
What is the best way to negotiate my salary? I change careers entirely?
Salary negotiation when changing career paths may require added planning because your prior experience might not directly translate or overlap with new responsibilities. Study what similar positions in related industries pay in order to get a solid idea of what realistic expectations are for you, based on the particular circumstances you face.
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