How to Negotiate Salary for Your Next Career Move
A salary negotiation is an arduous process because it involves balancing what believe you’re worth with what the employer thinks they’ll be able to afford. If it’s done right it could be a positive experience for both parties, resulting 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.
Key Takeaways
- Before you make a salary offer study market rates and industry standards to ensure your salary request is realistic.
- Gather information through networking with colleagues, using websites like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Prepare talking points ahead of time, including education & certificates in the form of years of relevant work experience, the results and achievements as well as unique skill sets and qualifications, industry knowledge and training potential.
- During the negotiation, you must be assured and confident but remain flexible and open. Show tangible results that you have achieved in previous positions.
- Maintain a positive tone throughout the conversation, and practice active listening.
Do your research
Before entering into any negotiations regarding salary, it’s essential to do thorough research on current market rates and industry standards to ensure that your salary suggestion is realistic. Factors that might impact the amount you are offered could be your experience level, company size and geographical location. (?). One great way to gather information is through networking with colleagues and others who are in the same field of work.
Research Online
With the aid of online resources such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) You can find a an additional perspective on the benchmarking range of salaries that companies offer for the exact role which will gives you an idea of current market rates and other elements that are related to an employment.
Your Network is Essential
Find out more about your situation by talking with acquaintances who have had similar roles or reaching out through professional networks in addition to brainstorming members of professional associations.
Make Talking points
Preparing for any negotiation is always well spent. You’ll be much more confident in giving your argument if you are prepared with a specific set of talking points outlined before the deadline.
Here are a few suggestions of what you might consider when negotiating your salary:
- Training and certification
- Experience gained through years of relevant work
- Results and achievements
- Particular skill set and traits (e.g. the ability to speak two languages)
- Industry-specific knowledge
- Training potential
A notepad or notebook can be helpful during conversations so that you don’t miss any important details.
Be confident & concise
During a salary negotiation, it’s important to be confident and clear. Make sure you are clear about your past experiences as well as your achievements and expectations for the job. It is important to keep a positive tone throughout this dialogue so that the employer isn’t appearing to be hostile.
Highlight the tangible results
Simply stating that one is ambitious, hardworking, and focused may not be enough to generate an strong appeal. So put forward clear statistics about how your previous positions made a an impact in the workplace or how important are certain qualities that can benefit an organization.
Remain flexible
If the employer isn’t able to your salary or compensation package, remaining flexible and open-minded can allow room for discussion. You could ask about alternative incentive options such as performance-based bonuses or models instead of the Base salary(? ).
Be sure remain professional during the negotiation process - regardless of how smoothly or poorly it’s going: fighting too much or imposing unreasonable demands could have a negative impact for everyone that is.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Do listen actively from your counterpart during negotiations. Listen to requested amount carefully & clarifying doubts as much as you can while remaining in the spirit of your initial request. In the end, both parties must be able to reach a satisfactory conclusion.
Consider the lessons you’ve learned from these conversations and incorporate them into future discussions you’ll probably be involved in. Following the tips above goes in the right direction to increase your chances of reaching mutually beneficial outcomes.
| Your network is important | Have a chat with friends who have had similar experiences or connect with the professional network and brainstorming with members of professional associations. |
| Plan talking points | Certification and education, Years of relevant experience and achievements, unique ability and traits (e.g. bi-lingualism) Knowledge of the industry, Potential for training |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Make sure you highlight tangible results. |
| Be flexible | Find out about other incentives, such as bonuses based on performance instead of Base salary. (?). You must remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important in these types of conversations. You can take the lessons you’ve learned from these conversations and incorporate them into 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 negotiating and deciding on the compensation package for a job. In this negotiation you are able to discuss more than only your base salary but also additional benefits such as health insurance, retirement plans, and more.
Why is it necessary to bargain on salary?
Negotiating your salary can give you a better financial outlook as well as show that you’re aware of what you’re worth. It can also help you not leave money on the table.
How soon should I negotiate my salary?
It is best to begin negotiations after you have received an offer, so everyone is aware of the terms being negotiated. In this way, negotiations will focus on securing ideal terms while avoiding unpleasant surprises.
What happens if I am completely satisfied with the package I was offered without any negotiation?
If you accept an offer and you are satisfied with the offer, then there may be no need to discuss it. However, it’s still essential to provide clear information about what your employer’s expectations with regards to things like rewards based on performance or reimbursements for career training.
Can I negotiate salary when I change careers entirely?
Negotiating your salary after changing careers may require more training because your previous work experience might not directly translate or overlap with new responsibilities. Find out what similar jobs in similar fields pay in order to get a solid knowledge of the realistic expectations you can set for yourself, given your specific circumstances.
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