How to Negotiate Salary for Your Next Career Move
Negotiating your salary is difficult to talk about, because it requires you to balance what you think you’re worth versus the amount an employer believes they can afford. But, if it’s done correctly it can result in a positive experience for both parties, resulting in a higher pay for the employee and greater employee engagement in their work. Here’s how to bargain your salary in confidence.
Principal Takeaways
- Before you negotiate your salary, research market rates and industry standards to ensure your salary offer is fair.
- Collect information through networking with colleagues, using online tools like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Make a list of talking points ahead the time, including education and accreditation and years of relevant experience, the results and achievements, unique skill set & abilities, industry expertise, and training potential.
- In the course of negotiations, you should be assured and confident but remain flexible and open-minded. Highlight tangible results that 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 standard industry rates and market rates to ensure that your salary request is realistic. Things that may affect this include your experience levels, the size of your company and geographical location. (?). One way to gather information is to make connections with colleagues or others who are in the same profession.
Research Online
With the aid of internet-based resources like [LinkedIn Salarywith the help of certain online resources such as [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 salary range that benchmarking that companies offer for the exact job. This gives you an idea of the current market rate and a few other facets of an employment.
Your Network Is Essential
Get insight from talking to acquaintances who have had similar positions or reaching out through professionals networks as well doing brainstorming members within professional organizations.
Plan talking points
Time spent preparing for any negotiation is always time well spent. You’ll feel more confident in making your case if you have a clear list of points to discuss in advance.
Here are a few ideas of what you might want to think about including in your salary negotiation:
- Training and certification
- Years of relevant experience
- Performances and results
- Particular skill set and traits (e.g. bilingualism)
- Knowledge of the industry
- Potential for training
The idea of keeping a notepad and/or notes handy could be helpful during conversations so that one doesn’t miss any important information.
Be confident & concise
When you negotiate your salary it is essential to be confident and clear. Make sure you are clear about your past experiences, achievements and job expectations. It’s important to maintain a positive tone throughout this conversation so that the employer doesn’t feel like you’re seeming unfriendly.
Highlight the tangible results
Simply saying that you are ambitious, hardworking, and focused may not be enough to create an strong appeal. So put forward clear statistics regarding the ways in which previous jobs made distinction in businesses or what are the most valuable abilities that can benefit an organization.
Remain flexible
If your employer cannot agree to your requested salary or compensation package, remaining flexible and open-minded can allow room for discussion. You may be able to ask for alternative rewards, like performance-based bonus structures, instead of Base salary(? ).
Be sure remain professional throughout the negotiation - regardless of how well or not: getting too defensive or imposing unreasonable demands is likely to lead to a negative outcome for all parties who is involved.
Practice active listening
Listening is just as important as communicating in these types of conversations. Be attentive to the your counterpart during negotiations. Listen to requested amount carefully & clarifying doubts if at all while remaining in the spirit of your their original request. In the end, both parties must arrive at acceptable outcomes.
Learn from these discussions and incorporate it into the next negotiations you’ll likely take part in. By following the suggestions above, you will go an enormous way to increasing the chances of achieving positive outcomes that are mutually beneficial.
| Your network is important | Have a chat with friends who have held similar roles or reach out to professionally-oriented networks as well doing brainstorming members of professional associations. |
| Make Talk points | Education & certification, Years of relevant experience, Results and achievements, Unique abilities and skills (e.g. the ability to speak two languages) Know-how in the field, the potential for training |
| Be confident & concise | Talk clearly about your personal experiences your accomplishments and expectations for the job. Focus on tangible results. |
| Stay flexible | Ask about alternative incentives like performance-based bonus structures instead of Base salary. (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally important in these types of conversations. Learn from these discussions and incorporate it into any future negotiations that you’re likely to take part 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 for a job. During this process it is possible to discuss not only your base salary but also other benefits like retirement plans, health insurance as well as other benefits.
Why is it so important to negotiate a salary?
Negotiating your salary could give you a more secure financial future and also show that you know your worth. It will also allow you to avoid putting money on the table.
When should I begin to negotiate for a raise?
It is ideal to begin negotiations after receiving an offer so everyone is informed of what’s being negotiated. So, discussions are focused on negotiating perfect terms while avoiding unexpected surprise.
What if I am content with the package I was offered without negotiating?
If you receive an offer and are pleased with it, then there’s no need to discuss it. However, it’s still essential to provide clear information about what your employer’s expectations in the form of rewards based on performance or reimbursements for career training.
Do I have the option of negotiating my salary when changing career paths entirely?
The negotiation of salary for changing career paths could require additional preparation due to the fact that your previous experience may not directly translate or be a part of the new job. Find out what similar jobs in related industries offer to have a clear knowledge of the realistic expectations you can set for yourself, in light of your particular situation.
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