How to Negotiate Salary for Your Next Career Move
A salary negotiation can be difficult to talk about, because it involves balancing what consider your worth and what an employer thinks they’re able to afford. If done properly it could be an enjoyable experience for both parties, resulting in a better salary for the employee, as well as greater employee engagement in their work. Here’s how you can negotiate your salary confidently.
Principal Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure your salary request is realistic.
- Collect information through networking with colleagues, using online tools like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Prepare talking points ahead of the time, including education and certification as well as years of relevant experience, results & achievements, unique skill set & capabilities, knowledge of the industry, and training potential.
- During the negotiation, you must be confident and clear, but be flexible and open-minded. Bring out tangible results you achieved in your previous roles.
- Keep a positive attitude throughout the conversation, and practice active listening.
Do your research
Before you enter any salary negotiation, it’s important to conduct a thorough investigation of the market and standards in the industry to make sure your salary offer is reasonable. Things that may affect this include levels of experience degree, size of the company as well as location. (?). One way to gather data is to connect with colleagues or others within your field of work.
Research Online
With the help of some online resources such as [LinkedIn Salary] (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. htm) you can get an extensive view of the range of benchmarking salaries businesses are providing for same role which will gives you an idea of current market rate plus few other facets of a job.
Your Network is Vital
Learn more by talking to acquaintances who have had similar positions, or contacting them through professionally-oriented networks as well as brainstorming members within professional organizations.
Prepare Talk points
Preparing for a negotiations is always a good time spent. You’ll feel more confident in the presentation of your case if have a set of talking points outlined ahead of time.
Here are some suggestions of things that you may want to consider when negotiating your salary:
- Training and certification
- Years of relevant experience
- Results and achievements
- Particular skill set and traits (e.g. the ability to speak two languages)
- Industry-specific knowledge
- Training potential
Notes and notebooks can also help during conversations so that you don’t miss any important details.
Be confident & concise
In a salary negotiation it’s crucial to appear confident and clear. Make sure you are clear about your past experiences accomplishments, your job goals and achievements. It’s essential to maintain an optimistic tone throughout the dialogue so that the employer isn’t seeming hostile.
Highlight Tangible Results
Simply saying that you are driven, hardworking, and goal-oriented may not be enough for an impressive appeal. So put forward clear statistics about how your previous positions made a significant difference to companies or what are the most valuable capabilities which benefit organisation
Keep your mind open
If the employer isn’t able to your salary or compensation plan in full, remaining flexible and open-minded will allow for discussion. You could ask about alternative rewards, like performance-based bonus structures, instead of the Base salary(? ).
Keep your cool during the negotiation process - regardless of how well or not: Being too aggressive or making unreasonable demands could cause a negative result for everyone affected.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Be attentive to the any other participant during negotiations, observing the amount requested carefully and clarifying questions if needed, but maintaining the original request. In the end, both parties must arrive at acceptable outcomes.
Take what you have learned from these conversations and incorporate them into future negotiations that you’re likely to be involved in. By following the suggestions above, you will go far in maximizing the chance of achieving positive outcomes that are mutually beneficial.
| Your Network is Important | Speak to friends who have been in similar positions or reach out to professionally-oriented networks and brainstorming with members within professional organizations. |
| Prepare talking points | Education & certification, Years of relevant experience, Performance and achievements, Unique skills and characteristics (e.g. the ability to speak two languages) Knowledge of the industry, ability to train |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Focus on tangible results. |
| Be flexible | Consider alternative incentives such as the performance-based bonuses instead of Base salary. (?). You must remain professional during the negotiation. |
| Practice active listening | Listening is equally as important as speaking during these kinds of conversations. You can take the lessons you’ve learned away from these conversations and apply it to future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is salary negotiation?
It is the act of negotiating and deciding on the compensation package to be paid for your job. In this negotiation you are able to discuss more than just your salary base, but also other benefits like health insurance, retirement plans and much more.
Why is it so important to discuss salary?
Negotiating your pay can provide you a greater financial future as well as show that you know your worth. This can help you avoid putting money on the table.
When should I begin to negotiate for a raise?
It’s best to begin negotiating after you have received an offer, so that all parties are aware of what is being negotiated. This way, the negotiations will be focused on securing optimal terms and avoid unintentional surprises.
What if I am happy with the offer without any negotiation?
If you are offered a job and are pleased with it, there’s no need to discuss it. It’s nevertheless important to communicate clearly what employers will provide regarding things such as compensation for training or performance-based bonuses.
Can I negotiate salary when changing career paths entirely?
Negotiating your salary after changing careers may require more planning because your prior experience may not directly translate or overlap with new responsibilities. Find out what similar jobs in related fields pay in order to get a solid understanding of realistic expectations for you, based on the specific circumstances.
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