How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be a difficult conversation, as it requires you to balance what you consider your worth and the amount an employer believes they’ll be able to afford. If it’s done right it can result in positive for both sides that results in a higher pay for the employee and a greater engagement of the employee in their job. Learn how to make your salary negotiation a success.
Principal Takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to make sure that your salary offer is fair.
- Collect information through socializing with colleagues, using online tools like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education and certifications and years of relevant experience, the results and achievements as well as unique skill sets and capabilities, knowledge of the industry, and potential for training.
- In the course of negotiations, you should be assured and confident but remain flexible and open-minded. Highlight 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 you enter any salary negotiation, it’s important to conduct a thorough study of standard industry rates and market rates to ensure that your salary suggestion is reasonable. The factors that could affect the amount you are offered could be your experience levels, the size of your company and geographical location. (?). One way to gather data is to connect with colleagues and others within your area of work.
Research Online
Utilizing online resources such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) You can find a an extensive view of the benchmarking range of salaries companies pay for the same job. This gives you an idea of current market rate plus few other facets of a job.
Your Network is Essential
Gain insight by speaking to colleagues who have been in similar roles, or reaching out via professionally-oriented networks and brainstorming with members of professional associations.
Plan Talk points
Preparing for a negotiation is always time well spent. You’ll feel more confident when giving your argument if you have a outline of your talking points before the deadline.
Here are some ideas of things you may want to consider when negotiating your salary:
- Training and certification
- Experience gained through years of relevant work
- Performances and results
- Particular skill set and traits (e.g. language proficiency,)
- Knowledge of the industry
- Training potential
Also keeping notes/notebook handy can assist during conversations to ensure that one doesn’t forget any important information.
Be confident & concise
During a salary negotiation It is 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 conversation so that the employer doesn’t feel like you’re seeming aggressive.
The Key to Tangible Results
Simply saying that you are ambitious, hardworking, and goal-oriented might not be enough to make an impactful appeal. It is important to present clear and precise data regarding how prior roles have made a distinction in businesses or what are the most valuable capabilities that can benefit an organization.
Stay flexible
If your employer isn’t able to agree to your salary request or compensation arrangement, remaining flexible and open-minded can allow room for dialogue. You may be able to ask for alternative incentive options such as performance-based bonuses or arrangements instead of Base salary(? ).
Make sure to remain professional during the negotiation process - regardless of how well or badly it’s going fighting too much or imposing unreasonable demands is likely to lead to a negative outcome for everyone involved.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Listen attentively from the another party while you negotiate, listening to the requested amount carefully & clarifying doubts as much as you can while keeping to the their original request. In the end, both parties must arrive at acceptable outcomes.
Learn from these conversations and incorporate it into any future talks you’re likely to participate in. By following the suggestions above, you will go a long way towards maximizing the chances of achieving positive outcomes that are mutually beneficial.
| Your network is important | Contact friends and acquaintances who have had similar experiences or connect with professionally-oriented networks as well doing brainstorming members within professional organizations. |
| Create talking points | Education & certification, Years of relevant experience, Results and accomplishments, unique skill set and qualities (e.g., bilingualism) and industry knowledge. Training potential |
| Be confident & concise | Make sure you are clear about your experience as well as your achievements and expectations. Highlight Tangible Results. |
| Remain flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary. (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as speaking during these kinds of conversations. You can take the lessons you’ve learned 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?
Salary negotiation is the process of negotiating and deciding on the compensation package to be paid for your job. When you negotiate this you are able to discuss more than only the base salary, but also other benefits, such as health insurance, retirement plans and many more.
Why is it so important to bargain on salary?
Negotiating your pay can provide you a greater financial future and also show that you’re confident about your worth. It can also help you avoid putting money on the table.
How soon should I negotiate a salary?
It’s best to begin negotiating following the acceptance of an offer to ensure that everyone is aware of the terms being discussed. Then, the discussions are focused on negotiating the best terms, while avoiding any unpleasant surprises.
What if I am happy with the offer without any negotiation?
If you get an offer and are content with the offer, then there’s no reason to negotiate. However, it’s still essential to communicate clearly what your employer’s expectations regarding things such as performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when changing careers?
Salary negotiation when changing career paths can require extra training because your previous work experience may not directly translate or relate to the new duties. Find out what similar jobs in similar fields offer to have a clear idea of what realistic expectations are for yourself, given the specific circumstances.
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