How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an extremely difficult process, since it is about balancing what you believe you’re worth with what the employer thinks they can afford. But, if it’s done correctly it can be positive for both parties that results in a higher salary for the employee as well as greater employees’ engagement in their jobs. Here’s how you can make your salary negotiation a success.
Important Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to confirm that your salary proposal is realistic.
- Get information from connecting with colleagues through websites like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Make a list of talking points ahead time, including education and accreditation as well as years of relevant experiences, achievements and results as well as unique skill sets and abilities, industry expertise, and potential for training.
- In the course of negotiations, you should be assured and confident but remain flexible and open. You should highlight tangible results you’ve achieved in your previous roles.
- Keep a positive and upbeat tone throughout the conversation and make sure you are listening actively.
Do your research
Before entering into any negotiations regarding salary, it’s essential to conduct thorough research on market rates and industry standards to ensure that your salary suggestion is realistic. Some factors that can affect this may include levels of experience degree, size of the company and geographical location. (?). One great way to gather information is through networking with colleagues and others who are in the same profession.
Research Online
With the help of some online resources, such as [LinkedIn Salary] (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can get an additional perspective on the range of benchmarking salaries companies pay for the same job. It will provide you with an idea of the current market rates and other facets of an employment.
Your Network is Important
Get insight from talking to people who have had similar positions, or contacting them via the professional networks as well doing brainstorming professionals in professional organizations.
Prepare Talking points
Preparing for any negotiations is always a good time spent. You’ll be more confident when giving your argument if you are prepared with a specific set of talking points outlined prior to the time.
Here are a few instances of things you may want to consider when negotiating your salary:
- Education and certification
- Experience gained through years of relevant work
- The results and accomplishments
- Particular skill set and traits (e.g. bilingualism)
- Industry-specific knowledge
- Training potential
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure that one doesn’t forget any important information.
Be confident & concise
In a salary negotiation it’s crucial to appear confident and articulate. Speak clearly about your experiences, achievements and job expectations. It’s important to maintain your tone of voice positive throughout the dialogue so that the employer doesn’t feel like you’re coming across as aggressive.
Show tangible results
Simply stating that one is ambitious, hardworking, and focused may not be enough to make an strong appeal. It is important to present clear and precise data regarding the ways in which previous jobs made an impact in the workplace or the value of specific abilities that help an organisation.
Be flexible
If the employer cannot agree to your salary request or compensation plan in full Being flexible and open will allow for dialog. You can inquire about alternatives to incentives, such as performance-based bonus models instead of the Base salary(? ).
You must remain professional during the negotiation process - regardless of how smoothly or poorly it’s going being too combative or making unreasonable demands can lead to a negative outcome for everybody who is involved.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Pay attention to other party during negotiations hearing requests carefully and clarifying doubts if at all while gently sticking with initial request. In the end, both parties must be able to reach a satisfactory conclusion.
Use the lessons you’ve learned from these discussions and apply it to future negotiations you’ll likely take part in. Applying the advice above goes an enormous way to increasing the chances of achieving positive outcomes that are mutually beneficial.
| Your network is important | Talk to your friends who have had similar experiences or reach out via professional networks and brainstorming with members within professional organizations. |
| Plan talking points | Qualifications and training, Years of relevant experience, Performance and accomplishments, unique abilities and skills (e.g. bi-lingualism), Industry knowledge, Potential for training |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Make sure you highlight tangible results. |
| Remain flexible | Find out about other incentives, such as performance-based bonus structures instead of Base salary (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial as communicating during these types of conversations. Consider what you’ve learned away from these conversations and apply it to future conversations you’ll probably be involved in. |
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Frequently asked questions
What is salary negotiation?
Salary negotiation is the process of discussing and finalizing the compensation package for a position. During this process you will be able to discuss not only your base salary but also additional benefits such as health insurance, retirement plans, and more.
Why is it so important to negotiate a salary?
Negotiating your salary will give you a better financial outlook and show you are aware of your worth. It can also help you avoid leaving money on the table.
How soon should I negotiate for a raise?
It is ideal to begin negotiations after receiving an offer so that everyone is aware of the terms being discussed. In this way, negotiations will be focused on securing perfect terms while avoiding unexpected surprises.
What if I am happy with the offer without negotiation?
If you receive an offer and are happy with the offer, then there may be no need to negotiate. However, it’s essential to communicate clearly what the employers are willing to offer with regards to things like the performance-based bonus or career-training reimbursements.
Do I have the option of negotiating my salary when changing careers?
The negotiation of salary for changing career paths can require extra planning because your prior experiences might not translate or encapsulate new responsibilities. Learn about the salaries similar to those in similar industries pay to gain a robust knowledge of the realistic expectations you can set for you, based on the specific circumstances.
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