How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it involves balancing what you believe you’re worth with what an employer thinks they’re able to afford. If it’s done right it could be positive for both parties, resulting in a higher salary for the employee and a greater employee engagement in their work. Here’s how to make your salary negotiation a success.
Important Takeaways
- Before you negotiate your salary study market rates and industry standards to ensure that your salary request is realistic.
- Get information from the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Make a list of talking points ahead the time, including education and certificates in the form of years of relevant work experience, results & achievements and unique skills capabilities, knowledge of the industry, and training opportunities.
- In the course of negotiations, you should be confident and articulate but also flexible and open-minded. You should highlight tangible results you’ve had in your previous roles.
- Maintain a positive mood 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 current market rates and industry standards to make sure your salary offer is reasonable. Things that may affect this could include the level of experience, level, company size and the location of the company. (?). Another great method to gather information is through networking with your colleagues or those who are in the same job field.
Research Online
Utilizing online resources, such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. Htm) You can find a an additional perspective on the benchmarking range of salaries businesses are providing for same job. This will give you an idea of current market rate and a few other factors related to the position.
Your Network is Essential
Get insight from talking to colleagues who have been in similar positions or reaching out via professionals networks as well as brainstorming members of professional organizations.
Make Talking points
Time spent preparing for any negotiation is always well spent. You’ll be more confident when the presentation of your case if have a set of talking points outlined prior to the time.
Here are a few ideas of things that you may want to consider including in your salary negotiation:
- Education and certification
- Experience gained through years of relevant work
- Performances and results
- Unique set of skills and attributes (e.g. the ability to speak two languages)
- Industry knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could also help during conversations so it is not lost important details.
Be confident & concise
When you negotiate your salary it is essential to be confident and articulate. Speak clearly about your experiences, achievements and job expectations. It’s essential to maintain a positive attitude throughout this conversation to ensure that your employer feels like you’re not being insecure.
Highlight the tangible results
Simply stating one is committed, hardworking, and focused may not be enough to create an impressive appeal. It is important to present clear and precise data regarding how prior roles have made a an impact in the workplace or what are the most valuable skills that benefit the organization.
Stay flexible
If your employer isn’t able to your requested salary or compensation package outright, remaining flexible and open-minded will help open the door to dialog. You could ask about alternatives to incentives, such as performance-based bonus models instead of Base salary(? ).
You must remain professional throughout the negotiation process - regardless of how smoothly or poorly it’s going: getting too defensive or making unreasonable demands will likely result in an unfavourable outcome for everybody involved.
Practice active listening
Listening is just as important as speaking during these kinds of conversations. Be attentive to the other party during negotiations hearing requests carefully and clarifying doubts if at all while keeping to the what you originally requested. In the end, both parties must come out with acceptable results.
Learn away from these conversations and incorporate it into any future negotiations you’ll likely take part in. By following the suggestions above, you will go in the right direction to increase your chances 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 the professional network as well doing brainstorming members within professional organizations. |
| Make Talk points | Training and certification, years of relevant experience and achievements, unique abilities and skills (e.g. multilingualism) Know-how in the field, the potential for training |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Use tangible results to highlight your achievements. |
| Be flexible | Consider alternative incentives such as performance-based bonus structures instead of Base salary (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is as crucial in these types of conversations. Take what you have learned from these conversations and apply it to future conversations you’ll probably be involved in. |
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Frequently Answered 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. Through this process you are able to discuss more than just your salary base, but also other benefits, such as health insurance, retirement plans and many more.
Why is it so important to negotiate salary?
Negotiating your salary can give you a more secure financial future as well as indicate that you’re confident about your worth. This can help you avoid leaving money on the table.
When should I begin to negotiate for a raise?
It’s best to begin negotiating after receiving an offer so that all parties are informed of what’s being discussed. In this way, discussions are focused on negotiating perfect terms while avoiding unexpected unintentional surprises.
What if I am content with the offer without any negotiation?
If you accept an offer and are happy with the offer, then there’s probably no need to discuss it. However, it’s essential to have transparent communication about what the employers are willing to offer with regards to things like performance-based bonuses or career-training reimbursements.
Can I negotiate salary when changing careers?
Salary negotiation when changing career paths may require added training because your previous work experience might not directly translate or overlap with new responsibilities. Study what similar positions in similar fields offer to have a clear idea of what realistic expectations are for you, based on your specific circumstances.
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