How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it involves balancing what believe you’re worth with what your employer believes they’re able to pay. If it’s done right, it can be an enjoyable experience for both parties that results in a higher salary for the employee as well as greater employees’ engagement in their jobs. Here’s how to make your salary negotiation a success.
Principal Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to make sure that your salary offer is fair.
- Collect information through socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education and certifications as well as years of relevant experiences, achievements and results and unique skills qualifications, industry knowledge and training potential.
- During the negotiation, be assured and confident but remain flexible and open. Show tangible results that you’ve achieved in your previous positions.
- Keep a positive and upbeat tone throughout the conversation and engage in active listening.
Do your research
Before you begin any salary negotiation, you need to conduct thorough research on the market and standards in the industry to ensure that your salary request is realistic. Things that may affect this may include the level of experience, degree, size of the company as well as location. (?). A great method of gathering information is to network with your colleagues or those in your chosen profession.
Research Online
With the help of some internet-based resources like [LinkedIn Salary] (https: //www. linkedin. https://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. Htm) you will get a more substantial approach towards the benchmarking range of salaries businesses pay for the same job. It will provide you with an idea about current market rate plus few other facets of an employment.
Your Network Is Vital
Learn more by talking to people who have had similar positions, or contacting them through professionally-oriented networks and brainstorming with members within professional organizations.
Make Talk points
Time spent preparing for any meeting is time well spent. You’ll feel much more confident in the presentation of your case if have a clear set of talk points that you have outlined before the deadline.
Here are some ideas of what you may want to consider when negotiating your salary:
- Education and certification
- Experience gained through years of relevant work
- Results and achievements
- A unique set of skills and characteristics (e.g. bilingualism)
- Industry knowledge
- Potential for training
A notepad or notebook can aid in conversations, so that one doesn’t forget any crucial points.
Be confident & concise
In a salary negotiation, it’s important to be confident and articulate. Be clear about your experience of accomplishments and your expectations. It’s essential to maintain a positive attitude throughout this discussion so that the employer isn’t coming across as unfriendly.
The Key to Tangible Results
Simply saying that you are ambitious, hardworking, and goal-oriented may not be enough to make an impactful appeal. Make sure to provide precise statistics regarding how prior roles have made a difference in companies or how valuable are specific qualities that benefit the organization.
Be flexible
If the employer cannot agree to your salary or compensation plan in full, remaining flexible and open-minded can allow room for discussions. You can inquire about alternative incentives like performance-based bonus arrangements instead of the Base salary(? ).
Make sure to remain professional during the negotiation process - regardless of how successfully or badly it’s going being too combative or making unreasonable demands will likely lead to a negative outcome for all parties affected.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Be attentive to the other party during negotiations hearing specific requests and resolving doubts as much as you can while keeping to the what you originally requested. Ultimately both parties should arrive at acceptable outcomes.
Learn from these conversations and incorporate them into future negotiations you’ll likely take part in. Applying the advice above goes far in maximizing your chances of achieving positive, mutually beneficial results.
| Your network is important | Contact friends and acquaintances who’ve held similar roles or connect with professionally-oriented networks as well doing brainstorming members of professional associations. |
| Prepare talking points | Training and certification, years of relevant experience, Performance and accomplishments, Unique abilities and skills (e.g. bi-lingualism) Know-how in the field, Potential for training |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Focus on tangible results. |
| Remain flexible | Find out about other incentives, such as performance-based bonus structures instead of Base salary (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is just as important as communicating during these types of conversations. Consider what you’ve learned from these discussions and incorporate it into any 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 plan for a job. When you negotiate this it is possible to discuss not only your base salary but also additional benefits such as retirement plans, health insurance as well as other benefits.
Why is it necessary to negotiate salary?
Negotiating your salary will give you a better financial future and show you’re aware of what you’re worth. This can help you avoid leaving money on the table.
When should I begin to negotiate the salary?
It is recommended to begin negotiations immediately after receiving an offer so that everyone is conscious of what’s being discussed. This way, the negotiations will focus on securing the best terms, while avoiding any surprises.
What happens if I am satisfied with the offer without negotiating?
If you accept an offer and are pleased with it, there’s no need to bargain. But it’s important to communicate clearly what employers will provide in the form of the performance-based bonus or career-training reimbursements.
Can I negotiate salary when changing careers?
Negotiating salary when you change career paths could require additional preparation due to the fact that your previous experience may not directly translate or be a part of the new job. Learn about the salaries similar to those in related industries pay to gain a robust knowledge of the realistic expectations you can set for yourself, in light of your specific circumstances.
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