How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it is about balancing what you believe you’re worth with the amount an employer believes they can afford. If it’s done right it can be positive for both parties, resulting in a higher pay for the employee as well as greater employees’ engagement in their jobs. Learn how to negotiate your salary confidently.
Key Takeaways
- Before you make a salary offer take a look at market rates and industry standards to make sure that the salary you request is reasonable.
- Find out information by the networking of colleagues, using online resources such as LinkedIn Salary and Glassdoor, and contacting professional networks.
- Create talking points ahead of time, including education and certification, years of relevant experience, results & achievements and unique skills abilities, industry expertise, and potential for training.
- In the course of negotiations, you should be assertive and confident, yet flexible and open-minded. You should highlight tangible results you achieved in your previous positions.
- Keep a positive attitude throughout the conversation, and be active in your listening.
Do your research
Before entering into any salary negotiation, it’s important to conduct thorough research on current market rates and industry standards to make sure your salary offer is reasonable. Factors that might impact this could include the level of experience, level, company size and the location of the company. (?). One great way to gather information is to make connections with your colleagues or those within your area of work.
Research Online
Utilizing online sources, like [LinkedIn Salary] (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. Htm) you can get an extensive view of the benchmarking range of salaries that companies offer for the exact job. This will give you an idea of the market rate plus few other facets of the position.
Your Network is Important
Learn more by talking to people who have had similar roles or reaching out through professionals networks as well doing brainstorming members within professional organizations.
Make Talk points
Time spent preparing for any negotiations is always a good time spent. You’ll be more confident in presenting your case if you have a clearly defined set of talk points that you have outlined prior to the time.
Here are some examples of what you could consider including in your salary negotiation:
- Training and certification
- Years of relevant experience
- Achievements and results
- Unique set of skills and attributes (e.g. bilingualism)
- Knowledge of the industry
- Potential for training
Also keeping notes/notebook handy can aid in conversations, so that one doesn’t miss any important points.
Be confident & concise
In a negotiation for a salary It is important to be confident and articulate. Be clear about your experience, achievements and job expectations. It’s crucial to maintain a positive attitude throughout this dialogue so that the employer doesn’t feel like you’re coming across as unfriendly.
The Key to Tangible Results
Simply stating that one is determined, hardworking and goal-oriented might not be enough to create an impressive appeal. So put forward clear statistics about how your previous positions made a significant difference to companies or what are the most valuable abilities that benefit the organization.
Stay flexible
If your employer isn’t able to agree to your salary request or compensation arrangement Being flexible and open can allow room for dialogue. You could ask about alternatives to incentives, such as performance-based bonus structures instead of Base salary(? ).
Make sure to remain professional throughout the negotiation process regardless of how smoothly or not: fighting too much or making unreasonable demands will likely result in an unfavourable outcome for everyone that is.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Pay attention to another party while you negotiate, listening to the specific requests and resolving doubts, if necessary, while maintaining the original request. In the end, both parties must achieve satisfactory results.
Consider the lessons you’ve learned from these conversations and incorporate it into the next talks you’re likely to participate in. Following the tips above goes an enormous way to increasing your chances of achieving an agreement that is mutually beneficial.
| Your network is important | Have a chat with friends who have had similar experiences or reach out to professional networks in addition to brainstorming members within professional organizations. |
| Make talking points | Training and certification, years of relevant experience and accomplishments, unique skills and characteristics (e.g. the ability to speak two languages), Industry knowledge, the potential for training |
| Be confident & concise | Speak clearly about your experiences your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Keep your mind open | Find out about other incentives, such as performance-based bonus structures instead of Base salary. (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is equally as important as speaking during these kinds of conversations. Take what you have learned away from these conversations and apply it to future discussions you’ll likely be involved in. |
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Frequently Asked Questions
What is salary negotiation?
It is the act of discussing and deciding on the compensation plan for a job. In this negotiation, you can discuss not only your base salary but also benefits like retirement plans, health insurance as well as other benefits.
Why is it so important to negotiate a salary?
Negotiating your salary will give you a greater financial future and show you’re aware of what you’re worth. It can also help you keep money off the table.
How soon should I negotiate for a raise?
It’s best to begin negotiating after you have received an offer, so that all parties are aware of the terms being negotiated. Then, the discussions are focused on negotiating the best terms, while avoiding any unintentional surprises.
What if I am content with the offered package with no negotiation?
If you receive an offer and you are satisfied with it, there’s no reason to negotiate. But it’s important to be clear about what the employers are willing to offer in the form of rewards based on performance or reimbursements for career training.
What is the best way to negotiate my salary? I change careers entirely?
Negotiating your salary after changing career paths could require additional preparation due to the fact that your previous experiences might not translate or be a part of the new job. Find out what similar jobs in similar fields pay to gain a robust idea of what realistic expectations are for you, based on the specific circumstances.
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