How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an extremely difficult process, since it requires you to balance what you believe you’re worth with the amount an employer believes they’ll be able to afford. However, if done correctly it could be a positive experience for both parties that results in a greater salary for the employee as well as greater satisfaction for the employees in their work. Here’s how to make your salary negotiation a success.
Key Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to make sure that your salary request is realistic.
- Get information from connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead the time, including education and certification as well as years of relevant experience, the results and achievements, unique skill set & qualifications, industry knowledge and potential for training.
- During the negotiation, you must be assertive and confident, yet flexible and open-minded. Bring out tangible results you’ve achieved in your previous roles.
- Maintain a positive mood throughout the conversation and practice active listening.
Do your research
Before you begin any salary negotiation, you need to conduct a thorough study of current market rates and industry standards to ensure that your salary request is realistic. Things that may affect this could include your experience level, company size and geographical location. (?). A great method of gathering information is through networking with colleagues or others who are in the same job field.
Research Online
With the help of online resources, such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. Htm) you can obtain a more substantial approach towards the range of benchmarking salaries businesses pay for the same job. This gives you an idea of the market prices and also other factors related to the position.
Your Network is Important
Learn more by talking to friends who have held similar roles, or reaching out through professional networks in addition to brainstorming members within professional organizations.
Plan Talking points
Time spent preparing for any negotiation is always time well spent. You’ll feel more confident when giving your argument if you are prepared with a specific set of talk points that you have outlined prior to the time.
Here are a few suggestions of what you might want to think about during your salary negotiation:
- Training and certification
- Years of relevant experience
- Results and achievements
- Unique skill set and qualities (e.g. the ability to speak two languages)
- Industry knowledge
- Training potential
Also keeping notes/notebook handy can aid in conversations, so it is not lost important information.
Be confident & concise
During a salary negotiation It is important to be confident and clear. Talk clearly about your work experience, achievements and job expectations. It’s essential to maintain a positive attitude throughout this conversation so that the employer doesn’t feel like you’re coming across as insecure.
The Key to Tangible Results
Simply saying that you are ambitious, hardworking, and goal-oriented might not be enough to generate an strong appeal. Therefore, provide clear data about how your previous positions made a significant difference to companies or what are the most valuable capabilities that can benefit an organization.
Keep your mind open
If the employer isn’t able to agree to your salary request or compensation package outright, remaining flexible and open-minded can help create space for dialogue. You can inquire about alternatives to incentives, such as performance-based bonus arrangements instead of Base salary(? ).
Be sure remain professional throughout the negotiation process no matter how well or poorly it’s going: being too combative or making unreasonable demands will likely result in an unfavourable outcome for everybody that is.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Do listen actively from other party during negotiations hearing requests carefully and clarifying doubts as much as you can while keeping to the their original request. Ultimately both parties should achieve satisfactory results.
Learn from these conversations and incorporate it into the next negotiations you’ll likely take part in. Following the tips above goes far in maximizing the chances of achieving positive, mutually beneficial results.
| Your Network is Important | Speak to friends who have had similar experiences or reaching out through professionally-oriented networks and brainstorming with members of professional associations. |
| Create Talk points | Certification and education, Years of relevant work experience, results and achievements, Unique skill set and qualities (e.g. bi-lingualism) Knowledge of the industry, Training potential |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Highlight Tangible Results. |
| Stay flexible | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. Consider what you’ve learned away from these conversations and apply it to future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation package for a position. When you negotiate this you will be able to discuss not only your base salary but also benefits like retirement plans, health insurance as well as other benefits.
Why is it so important to negotiate a salary?
Negotiating your salary can give you a better financial outlook and also show that you’re aware of what you’re worth. It can also help you keep money off the table.
What is the best time to negotiate a salary?
It is best to begin negotiations immediately after receiving an offer so everyone is aware of what is being discussed. Then, the negotiations will be focused on securing optimal terms and avoid unpleasant surprises.
What if I am content with the package I was offered without any negotiation?
If you are offered a job and are content with the offer, then there’s no need to negotiate. However, it’s essential to provide clear information about what employers will provide in terms of things like compensation for training or performance-based bonuses.
Do I have the option of negotiating my salary when switching careers completely?
Negotiating your salary after changing careers may require more preparation due to the fact that your previous experiences might not translate or relate to the new duties. Research what similar roles in related fields pay, to develop a thorough comprehension of realistic expectations for yourself, in light of your specific circumstances.
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