How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an arduous process because it involves balancing what think you’re worth versus what the employer thinks they can afford. But, if it’s done correctly it could be an enjoyable experience for both sides that results in a greater salary for the employee and a greater employee engagement in their work. Learn how to negotiate your salary with confidence.
Key Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure that your salary offer is fair.
- Find out information by the networking of colleagues, using online tools like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Prepare talking points ahead of time, including education & certificates and years of relevant knowledge, accomplishments and achievements as well as unique skill sets and capabilities, knowledge of the industry, and training potential.
- During the negotiation, you must be assertive and confident, yet flexible and open-minded. Show tangible results that you’ve had in your previous positions.
- Maintain a positive mood throughout the conversation, and practice active listening.
Do your research
Before entering into any negotiations regarding salary, it’s essential to do thorough research on standard industry rates and market rates to ensure that your salary request is reasonable. Factors that might impact this may include your experience degree, size of the company as well as location. (?). One great way to gather information is to make connections with colleagues or others who are in the same area of work.
Research Online
Utilizing online resources such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can get more comprehensive information about the benchmarking range of salary businesses pay for the same job. This gives you an idea of current market rate and a few other aspects related to an employment.
Your Network is Vital
Gain insight by speaking to friends who have held similar positions, or contacting them through professional networks and brainstorming with members of professional associations.
Make Talk points
Preparing for any negotiation is always well spent. You’ll feel much more confident in giving your argument if you are prepared with a specific set of talk points that you have outlined before the deadline.
Here are a few examples of things you might want to think about when negotiating your salary:
- Training and certification
- Experience gained through years of relevant work
- Results and achievements
- A unique set of skills and characteristics (e.g. bilingualism)
- Industry knowledge
- Potential for training
A notepad or notebook can aid in conversations, so that one doesn’t forget any important points.
Be confident & concise
When you negotiate your salary, it’s important to be confident and articulate. Speak clearly about your experiences accomplishments, your job goals and achievements. It’s important to maintain a positive tone throughout this discussion so that the employer feels like you’re not being aggressive.
The Key to Tangible Results
Simply stating that someone is determined, hardworking and goal-oriented might not be enough to generate an appealing appeal. So put forward clear statistics on how previous roles made distinction in businesses or the value of specific capabilities that can benefit an organization.
Stay flexible
If the employer isn’t able to your salary or compensation package outright, remaining flexible and open-minded can help create space for discussion. It is possible to inquire about alternatives to incentives, such as performance-based bonus structures, instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation - no matter how well or badly it’s going getting too defensive or making unreasonable demands is likely to result in an unfavourable outcome for all parties affected.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Do listen actively from other party during negotiations hearing specific requests and resolving doubts if at all while maintaining the initial request. In the end, both parties must achieve satisfactory results.
Consider the lessons you’ve learned away from these conversations and incorporate them into future talks you’re likely to participate in. Following the tips above goes in the right direction to increase your chances of reaching positive, mutually beneficial results.
| Your Network is Important | Speak to friends who’ve held similar roles or reach out via professional networks in addition to brainstorming members within professional organizations. |
| Plan talking points | Education & certification, Years of relevant experience and achievements, unique abilities and skills (e.g. bi-lingualism), Industry knowledge, Potential for training |
| Be confident & concise | Speak clearly about your experiences as well as your achievements and expectations. Use tangible results to highlight your achievements. |
| Stay flexible | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary. (?). You must remain professional during the negotiation. |
| Practice active listening | Listening is as crucial in these types of conversations. You can take the lessons you’ve learned from these conversations and incorporate them into the future discussions you’ll likely be involved in. |
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Frequently asked questions
What is the concept of salary negotiation?
The process involves negotiating and deciding on the compensation package to be paid for your job. When you negotiate this, you can discuss not just the salary you earn, but also other benefits, such as health insurance, retirement plans as well as other benefits.
Why is it necessary to discuss salary?
Negotiating your salary can give you a more secure financial future and also show that you’re aware of what you’re worth. It will also allow you to avoid leaving money on the table.
What is the best time to negotiate for a raise?
It’s best to begin negotiating after you have received an offer, so everyone is aware of what is being discussed. This way, the negotiations will be focused on securing the best terms, while avoiding any surprises.
What happens if I am completely satisfied with the deal I received without any negotiation?
If you get an offer and are content with it, then there’s no need to bargain. It’s nevertheless important to be clear about what employers will provide regarding things such as performance-based bonuses or career-training reimbursements.
What is the best way to negotiate my salary? switching careers completely?
The negotiation of salary for changing career paths could require additional preparation due to the fact that your previous experiences might not translate or encapsulate new responsibilities. Find out what similar jobs in similar industries pay to gain a robust idea of what realistic expectations are for you, based on your particular situation.
Are you looking forward to your next career move? Go through our Albury Resume ‘s services today!
