How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it involves balancing what consider your worth and the amount an employer believes they’re able to pay. But, if it’s done correctly, it can be positive for both parties that results in a higher salary for the employee and a greater employees’ engagement in their jobs. Here’s how to negotiate your salary with confidence.
Important Takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to make sure that your salary proposal is realistic.
- Gather information through the networking of colleagues, using online tools like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Plan your talk points ahead of time, including education & certification as well as years of relevant experience, results & achievements as well as unique skill sets and qualities, industry knowledge, and training potential.
- During the negotiation, you must be assured and confident but remain flexible and open-minded. Highlight tangible results that you’ve achieved in your previous roles.
- Keep a positive attitude throughout the conversation and make sure you are listening actively.
Do your research
Before entering into any negotiations regarding salary, it’s essential to do thorough research on market rates and industry standards to ensure that your salary suggestion is realistic. Some factors that can affect the amount you are offered could be experience degree, size of the company, and location (?). A great method of gathering information is through networking with your colleagues or those in your chosen field of work.
Research Online
With the aid of online resources, such as [LinkedIn Salary] (https http://www. linkedin. com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. Htm) you can get an additional perspective on the benchmarking range of salaries businesses pay for the same role which will gives you an idea about current market prices and also other elements that are related to the position.
Your Network Is Important
Get insight from talking to colleagues who have been in similar positions or reaching out through professionals networks and brainstorming with members of professional associations.
Make Talk points
The time spent in preparing for a negotiations is always a good time spent. You’ll be much more confident in presenting your case if you have a clearly defined set of talking points outlined prior to the time.
Here are a few ideas of what you may want to consider when negotiating your salary:
- Certification and education
- Years of relevant experience
- Results and achievements
- Unique skill set and qualities (e.g. bilingualism)
- Industry-specific knowledge
- Training potential
A notepad or notebook can assist during conversations to ensure that you don’t miss any crucial points.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and articulate. Make sure you are clear about your past experiences as well as your achievements and expectations for the job. It’s essential to maintain a positive tone throughout this conversation so that the person who is hiring you feels that you’re not coming across as aggressive.
Highlight the tangible results
Simply stating that someone is committed, hardworking, and aspire-driven person may not be enough for an appealing appeal. It is important to present clear and precise data regarding how prior roles have made a significant difference to companies or what are the most valuable capabilities that benefit the organization.
Stay flexible
If your employer isn’t able to agree to your salary or compensation package Being flexible and open will help open the door to discussion. It is possible to inquire about alternatives to incentives, such as performance-based bonus structures instead of the Base salary(? ).
You must remain professional during the negotiation process - no matter how well or poorly it’s going fighting too much or making unreasonable demands is likely to have a negative impact for all parties who is involved.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Pay attention to any other participant during negotiations, observing requested amount carefully & clarifying doubts as much as you can while gently sticking with what you originally requested. The goal is to arrive at acceptable outcomes.
Use the lessons you’ve learned from these discussions and incorporate it into the next discussions you’ll probably be involved in. The tips mentioned above will go a long way towards maximizing your chances of achieving positive, mutually beneficial results.
| Your network is important | Have a chat with friends who have been in similar positions or reaching out through professional networks as well as brainstorming members of professional associations. |
| Make talking points | Certification and education, Years of relevant experience and achievements, Unique ability and traits (e.g. bi-lingualism) 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. Highlight Tangible Results. |
| Stay flexible | Ask about alternative incentives like performance-based bonus structures instead of Base salary (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is just as important as communicating in these kinds of conversations. Take what you have learned from these conversations and incorporate them into future conversations you’ll probably be involved in. |
Are you looking forward to your next career change? Explore for our Bendigo Resume ‘s services today!
Frequently Asked Questions
What is the concept of salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation plan to be paid for your job. During this process it is possible to discuss not just your salary base, but also additional benefits such as health insurance, retirement plans and many more.
Why is it important to negotiate salary?
Negotiating your salary can give you a better financial outlook and show you’re aware of what you’re worth. It can also help you avoid leaving money on the table.
When should I start negotiating for a raise?
It is ideal to begin negotiations immediately after receiving an offer so everyone is informed of what’s being negotiated. Then, the negotiations are focused on securing the best terms, while avoiding any unpleasant surprises.
What happens if I am completely satisfied with the offered package without negotiating?
If you get an offer and are pleased with it, there’s no need to discuss it. However, it’s still essential to provide clear information about what employers will provide in terms of things like compensation for training or performance-based bonuses.
Can I negotiate salary when switching careers completely?
Negotiating salary when you change careers may require more training because your previous work experience might not directly translate or encapsulate new responsibilities. Study what similar positions in similar fields pay, to develop a thorough understanding of realistic expectations for yourself, given the particular circumstances you face.
Are you looking forward to your next career shift? Check the services of our Bendigo Resume ‘s services today!
