How to Negotiate Salary for Your Next Career Move
A salary negotiation is a difficult conversation, as it involves balancing what you believe you’re worth with the amount an employer believes they can afford. If it’s done right, it can be an enjoyable experience for both the employer and employee, which results in a greater salary for the employee and a greater employee engagement in their work. Here’s how you can bargain your salary in confidence.
Important Takeaways
- Before you make a salary offer, research market rates and industry standards to confirm that your salary offer is fair.
- Find out information by networking with colleagues, using online tools like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Plan your talk points ahead of the time, including education and certifications and years of relevant experience, the results and achievements and unique skills qualifications, industry knowledge and training opportunities.
- During the negotiation, you must be assertive and confident, yet flexible and open. Bring out tangible results you achieved in your previous positions.
- Keep a positive and upbeat tone throughout the conversation and be active in your listening.
Do your research
Before entering into any salary negotiation, it’s important to conduct a thorough investigation of market rates and industry standards to ensure that your salary request is realistic. Things that may affect this include the level of experience, levels, the size of your company, and location (?). One great way to gather data is to connect with colleagues or others within your profession.
Research Online
With the help of online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can get an additional perspective on the range of benchmarking salaries that companies offer for the exact job. This gives you an idea of the market rate and a few other aspects related to the job.
Your Network is Important
Learn more by talking to colleagues who have been in similar roles or reaching out via the professional networks as well as brainstorming members of professional associations.
Plan Talking points
The time spent in preparing for a negotiation is always well spent. You’ll feel more confident when making your case if you have a clear set of talk points that you have outlined ahead of time.
Here are a few suggestions of what you could consider when negotiating your salary:
- Education and certification
- Years of relevant experience
- Performances and results
- Unique skill set and qualities (e.g., bilingualism)
- Knowledge of the industry
- Training potential
Also keeping notes/notebook handy can aid in conversations, so that you don’t miss any important details.
Be confident & concise
During a salary negotiation, it’s important to be confident and clear. Be clear about your experience as well as your achievements and expectations for the job. It’s crucial to maintain a positive tone throughout this conversation so that the employer doesn’t feel like you’re being aggressive.
Highlight the tangible results
Simply saying that you are determined, hardworking and goal-oriented may not be enough to create an impressive appeal. So put forward clear statistics on how previous roles made difference in companies or the value of specific skills that help an organisation.
Be flexible
If your employer isn’t able to your requested salary or compensation package outright being flexible and open can help create space for dialog. You can inquire about alternative rewards, like performance-based bonus models instead of Base salary(? ).
You must remain professional throughout the negotiation - regardless of how smoothly or badly it’s going getting too defensive or imposing unreasonable demands is likely to cause a negative result for all parties that is.
Practice active listening
Listening is as crucial as communicating in these types of conversations. Listen attentively from the another party while you negotiate, listening to the the amount requested carefully and clarifying questions if needed, but gently sticking with original request. The goal is to be able to reach a satisfactory conclusion.
Consider the lessons you’ve learned from these discussions and incorporate it into the next negotiations that you’re likely to be involved in. Applying the advice above goes in the right direction to increase the chances of achieving positive outcomes that are mutually beneficial.
| Your Network is Important | Speak to friends who have been in similar positions or reach out to the professional network as well as brainstorming members of professional associations. |
| Create Talk points | Education & certification, Years of relevant experience, Results and achievements, Unique skill set and qualities (e.g. the ability to speak two languages) and industry knowledge. the potential for training |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Make sure you highlight tangible results. |
| Stay flexible | Consider alternative incentives such as the performance-based bonuses instead of Base salary. (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as communicating during these types of conversations. Consider what you’ve learned from these conversations and apply it to future negotiations that you’re likely to take part in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
It is the act of discussing and deciding on the compensation plan for a job. During this process it is possible to discuss not only the base salary, but also benefits like health insurance, retirement plans, and more.
Why is it so important to bargain on salary?
Negotiating your salary can give you a more secure financial future as well as show that you know your worth. It can also help you avoid leaving money on the table.
When should I begin to negotiate for a raise?
It is best to begin negotiations immediately after receiving an offer so that all parties are aware of what is being discussed. So, negotiations will focus on securing optimal terms and avoid surprises.
What if I am happy with the package I was offered without any negotiation?
If you are offered a job and are content with it, there’s probably no need to bargain. However, it’s essential to communicate clearly what employers will provide with regards to things like compensation for training or performance-based bonuses.
Can I negotiate my salary if switching careers completely?
Salary negotiation when changing career paths could require additional training because your previous work experiences may not be directly applicable or encapsulate new responsibilities. Find out what similar jobs in related fields offer to have a clear idea of what realistic expectations are for you, based on the particular circumstances you face.
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