How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an arduous process because it is about balancing what you believe you’re worth with the amount an employer believes they’ll be able to afford. However, if done correctly it can be positive for both parties that results in a higher pay for the employee, as well as greater employees’ engagement in their jobs. Learn how to negotiate your salary with confidence.
Key Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to ensure that your salary proposal is realistic.
- Gather information through connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead the time, including education and certifications and years of relevant knowledge, accomplishments and achievements with a unique set of skills and capabilities, knowledge of the industry, and potential for training.
- During negotiations, be assured and confident but remain flexible and open. Bring out tangible results you achieved in your previous roles.
- Maintain a positive mood throughout the conversation, and be active in your listening.
Do your research
Before you enter any pay negotiation, it’s crucial to conduct thorough research on standard industry rates and market rates to ensure that your salary suggestion is reasonable. Things that may affect this include experience levels, the size of your company, and location (?). One great way to gather data is to connect with colleagues or other professionals in your chosen area of work.
Research Online
With the aid of online resources such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can get an additional perspective on the benchmarking range of salaries that companies offer for the exact role which will gives you an idea about current market prices and also other facets of the position.
Your Network is Important
Learn more by talking to people who have had similar roles, or reaching out via professionally-oriented networks as well doing brainstorming members of professional organizations.
Make Talking points
Preparing for a negotiation is always time well spent. You’ll be much more confident when giving your argument if you have a clearly defined outline of your talking points prior to the time.
Here are some ideas of what you could consider when negotiating your salary:
- Certification and education
- Years of relevant experience
- Achievements and results
- A unique set of skills and characteristics (e.g., bilingualism)
- Industry knowledge
- Training potential
Notes and notebooks can be helpful during conversations so that one doesn’t forget any crucial points.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and clear. Make sure you are clear about your past experiences of accomplishments and your expectations. It’s essential to maintain a positive tone throughout this dialogue so that the employer isn’t seeming aggressive.
Highlight Tangible Results
Simply saying that you are driven, hardworking, and goal-oriented may not be enough to make an impactful appeal. Therefore, provide clear data on how previous roles made distinction in businesses or the value of specific qualities that help an organisation.
Keep your mind open
If your employer isn’t able to agree to your salary or compensation package, remaining flexible and open-minded will help open the door to dialogue. You may be able to ask for alternative incentive options such as performance-based bonuses or structures instead of Base salary(? ).
You must remain professional during the negotiation process - regardless of how successfully or not: being too combative or imposing unreasonable demands is likely to have a negative impact for everybody that is.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Listen attentively from the your counterpart during negotiations. Listen to specific requests and resolving doubts if at all while maintaining the their original request. In the end, both parties must come out with acceptable results.
Consider the lessons you’ve learned from these discussions and incorporate them into future talks you’re likely to participate in. By following the suggestions above, you will go far in maximizing the chance of achieving an agreement that is mutually beneficial.
| Your network is important | Contact friends and acquaintances who have been in similar positions or connect with professional networks in addition to brainstorming members of professional associations. |
| Plan Talk points | Education & certification, Years of relevant work experience, results and achievements, unique skills and characteristics (e.g. bi-lingualism), Industry knowledge, ability to train |
| Be confident & concise | Talk clearly about your personal experiences your accomplishments and expectations for the job. Focus on tangible results. |
| Remain flexible | Ask about alternative incentives like incentive structures based on performance rather than Base salary. (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is as crucial as speaking during these kinds of conversations. You can take the lessons you’ve learned from these discussions and incorporate them into future negotiations that you’re likely to take part in. |
Are you ready for your next job change? Check the services of our Goulburn Resume ‘s services today!
Frequently Asked Questions
What is salary negotiation?
Salary negotiation is the process of discussing and finalizing the compensation package to be paid for your job. When you negotiate this it is possible to discuss not only your base salary but also benefits like retirement plans, health insurance and much more.
Why is it necessary to negotiate salary?
Negotiating your pay can provide you a greater financial future as well as show that you’re aware of what you’re worth. This can help you not leave money on the table.
How soon should I negotiate the salary?
It is recommended to begin negotiations after receiving an offer so that all parties are aware of the terms being negotiated. This way, the negotiations will be focused on securing the best terms, while avoiding any unpleasant surprises.
What if I am content with the package I was offered with no negotiation?
If you get an offer and are happy with it, then there may be no need to discuss it. However, it’s essential to be clear about what your employer’s expectations in terms of things like performance-based bonuses or career-training reimbursements.
Can I negotiate my salary if changing career paths entirely?
Negotiating your salary after changing careers may require more training because your previous work experience might not directly translate or relate to the new duties. Research what similar roles in related fields pay to gain a robust understanding of realistic expectations for yourself, in light of your specific circumstances.
Are you looking forward to your next career shift? Go through the services of our Goulburn Resume ‘s services today!
