How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it is about balancing what you think you’re worth versus what the employer thinks they can afford. If done properly it can be an enjoyable experience for both parties that results in a higher salary for the employee and greater employees’ engagement in their jobs. Here’s how to bargain your salary in confidence.
The most important takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to ensure your salary offer is fair.
- Find out information by socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Plan your talk points ahead of time, including education & certification in the form of years of relevant work experiences, achievements and results with a unique set of skills and abilities, industry expertise, and potential for training.
- During the negotiation, you must be confident and clear, but be flexible and open. You should highlight tangible results you’ve had in your previous positions.
- Maintain a positive tone throughout the conversation and make sure you are listening actively.
Do your research
Prior to entering any salary negotiation, you need to conduct a thorough study of the market and standards in the industry to ensure that your salary request is reasonable. Things that may affect this may include your experience level, company size, and location (?). One way to gather information is to make connections with your colleagues or those who are in the same field of work.
Research Online
With the help of some online resources, such as [LinkedIn Salary] (https: //www. linkedin. https://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. htm) you will get a more comprehensive information about the salary range that benchmarking businesses are providing for same job. This will give you an idea of the market rate and a few other elements that are related to an employment.
Your Network is Essential
Learn more by talking to people who have had similar positions, or contacting them via professionals networks as well doing brainstorming members within professional organizations.
Make Talk points
The time spent in preparing for a negotiation is always well spent. You’ll feel much more confident in the presentation of your case if have a clear list of points to discuss before the deadline.
Here are some examples of things that you may want to consider to include in your salary negotiation:
- Education and certification
- Experience gained through years of relevant work
- Performances and results
- Unique skill set and qualities (e.g. language proficiency,)
- Industry-specific knowledge
- Training potential
The idea of keeping a notepad and/or notes handy could be helpful during conversations so that one doesn’t forget any important information.
Be confident & concise
When you negotiate your salary it is essential to be confident and articulate. Make sure you are clear about your past experiences accomplishments, your job goals and achievements. It’s essential to maintain a positive tone throughout this discussion so that the person who is hiring you feels that you’re not appearing to be aggressive.
Show tangible results
Simply stating that someone is ambitious, hardworking, and aspire-driven person may not be enough to make an impactful appeal. Make sure to provide precise statistics regarding how prior roles have made a an impact in the workplace or how valuable are specific qualities that can benefit an organization.
Keep your mind open
If the employer isn’t able to your salary request or compensation package outright being flexible and open can help create space for discussion. You can inquire about alternative incentive options such as performance-based bonuses or arrangements instead of the Base salary(? ).
You must remain professional during the negotiation process - regardless of how successfully or badly it’s going fighting too much or making unreasonable demands could have a negative impact for everybody that is.
Practice active listening
Listening is as crucial as speaking during these kinds of conversations. Pay attention to other party during negotiations hearing requests carefully and clarifying doubts, if necessary, while maintaining the initial request. In the end, both parties must arrive at acceptable outcomes.
Consider the lessons you’ve learned away from these conversations and incorporate them into future negotiations that you’re likely to be involved in. Following the tips above goes in the right direction to increase your chances of reaching positive outcomes that are mutually beneficial.
| Your Network is Important | Have a chat with friends who have been in similar positions or reach out to professionally-oriented networks in addition to brainstorming members of professional associations. |
| Create talking 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, ability to train |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Use tangible results to highlight your achievements. |
| Keep your mind open | Ask about alternative incentives like incentive structures based on performance rather than Base salary. (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as communicating in these kinds of conversations. Learn from these discussions and apply it to future conversations you’ll probably be involved in. |
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Frequently asked questions
What is salary negotiation?
Negotiating salary is discussing and deciding on the compensation plan to be paid for your job. When you negotiate this it is possible to discuss not just your salary base, but also benefits like health insurance, retirement plans as well as other benefits.
Why is it important to negotiate salary?
Negotiating your pay can provide you a greater financial future and also show that you’re aware of what you’re worth. It will also allow you to keep money off the table.
When should I start negotiating a salary?
It is recommended to begin negotiations after receiving an offer so that all parties are aware of what is being discussed. Then, the negotiations will focus on securing perfect terms while avoiding unexpected surprise.
What if I am content with the offered package without negotiating?
If you accept an offer and you are satisfied with it, there’s no reason to negotiate. However, it’s still essential to provide clear information about what the employer will offer in the form of rewards based on performance or reimbursements for career training.
Can I negotiate my salary if switching careers completely?
Negotiating salary when you change career paths may require added preparation because your past experience might not directly translate or relate to the new duties. Study what similar positions in similar 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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