How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an extremely difficult process, since it requires you to balance what you think you’re worth versus the amount an employer believes they’re able to pay. If done properly it could be positive for both parties, resulting in a higher pay for the employee and a greater engagement of the employee in their job. Here’s how to bargain your salary in confidence.
Principal Takeaways
- Before you make a salary offer study market rates and industry standards to ensure that your salary request is realistic.
- Collect information through socializing with colleagues, using online tools like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Plan your talk points ahead of the time, including education and certificates as well as years of relevant experience, results & achievements with a unique set of skills and qualifications, industry knowledge and the potential for further training.
- During the negotiation, you must be assertive and confident, yet flexible and open. Highlight tangible results that you achieved in your previous roles.
- Keep a positive and upbeat tone throughout the conversation, and practice active listening.
Do your research
Before you begin any salary negotiation, it’s important to conduct a thorough study of current market rates and industry standards to ensure that your salary suggestion is realistic. Things that may affect this include experience degree, size of the company and the location of the company. (?). One way to gather data is to connect with colleagues or other professionals who are in the same field of work.
Research Online
With the aid of online resources, such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a more substantial approach towards the benchmarking range of salaries businesses pay for the same role which will gives you an idea of the current market rate plus few other facets of a job.
Your Network is Important
Get insight from talking to colleagues who have been in similar positions or reaching out through professional networks as well as brainstorming professionals in professional organizations.
Create Talking points
Preparing for a negotiation is always well spent. You’ll be much more confident in the presentation of your case if are prepared with a specific list of points to discuss in advance.
Here are a few suggestions of items you might consider to include in your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- The results and accomplishments
- Unique skill set and qualities (e.g. language proficiency,)
- Know-how in the field
- Training potential
Also keeping notes/notebook handy can aid in conversations, so it is not lost important details.
Be confident & concise
In a salary negotiation It is important to be confident and articulate. Talk clearly about your work experience, achievements and job expectations. It’s crucial to maintain a positive tone throughout this dialogue so that the employer isn’t appearing to be unfriendly.
Highlight Tangible Results
Simply saying that you are committed, hardworking, and aspire-driven person may not be enough to generate an impressive appeal. Therefore, provide clear data on how previous roles made significant difference to companies or how important are certain capabilities that benefit the organization.
Be flexible
If your employer isn’t able to your requested salary or compensation arrangement Being flexible and open will help open the door to discussion. You could ask about alternative incentive options such as performance-based bonuses or models instead of Base salary(? ).
Keep your cool during the negotiation process - no matter how well or not: fighting too much or making unreasonable demands will likely have a negative impact for everyone that is.
Practice active listening
Listening is as crucial as communicating during these types of conversations. Listen attentively from the another party while you negotiate, listening to the the amount requested carefully and clarifying doubts as much as you can while remaining in the spirit of your original request. Both parties should ultimately achieve satisfactory results.
Take what you have learned from these discussions and incorporate them into future talks you’re likely to participate in. Following the tips above goes a long way towards maximizing your chances of achieving mutually beneficial outcomes.
| Your Network is Important | Talk to your friends who’ve held similar roles or reach out via professionally-oriented networks as well doing brainstorming members within professional organizations. |
| Prepare Talk points | Qualifications and training, Years of relevant experience and accomplishments, Unique skill set and qualities (e.g., bilingualism) Know-how in the field, the potential for training |
| Be confident & concise | Be clear about your experience, achievements and job expectations. Focus on tangible results. |
| Be flexible | Ask about alternative incentives like performance-based bonus structures instead of Base salary (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is equally as important in these types of conversations. Take what you have learned away from these conversations and apply it to future negotiations you’ll likely take part in. |
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Frequently asked questions
What is salary negotiation?
It is the act of negotiating and deciding on the compensation plan for a position. When you negotiate this you will be able to discuss not only your base salary but also other benefits like health insurance, retirement plans and many more.
Why is it necessary to discuss salary?
Negotiating your salary can give you a greater financial future as well as show that you are aware of your worth. This can help you not leave money on the table.
What is the best time to negotiate for a raise?
It is recommended to begin negotiations immediately after receiving an offer so everyone is aware of the terms being negotiated. Then, the negotiations are focused on securing ideal terms while avoiding surprise.
What if I am content with the package I was offered with no negotiation?
If you get an offer and you are satisfied with it, there’s no need to negotiate. But it’s important to be clear about what employers will provide in the form of compensation for training or performance-based bonuses.
Can I negotiate salary when changing careers?
The negotiation of salary for changing career paths could require additional planning because your prior experiences may not be directly applicable or relate to the new duties. Find out what similar jobs in similar industries pay, to develop a thorough understanding of realistic expectations for yourself, given the particular circumstances you face.
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