How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an extremely difficult process, since it requires you to balance what you think you’re worth versus the amount an employer believes they can afford. However, if done correctly it can be an enjoyable experience for both parties that results in a greater salary for the employee, as well as greater employee engagement in their work. Here’s how to negotiate your salary with confidence.
Important Takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure that your salary request is realistic.
- Find out information by the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead the time, including education and accreditation and years of relevant experiences, achievements and results, unique skill set & qualities, industry knowledge, and potential for training.
- During the negotiation, be assertive and confident, yet flexible and open. Show tangible results that you’ve achieved in your previous roles.
- Keep a positive attitude throughout the conversation, and engage in active listening.
Do your research
Before you enter any salary negotiation, you need to conduct a thorough investigation of market rates and industry standards to make sure that your salary proposal is reasonable. Things that may affect this could include experience degree, size of the company, and location (?). A great method of gathering data is to connect with your colleagues or those in your chosen job field.
Research Online
With the help of some online resources, such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a an extensive view of the range of benchmarking salaries that companies offer for the exact job. This gives you an idea of current market prices and also other factors related to the position.
Your Network Is Vital
Learn more by talking to people who have had similar roles, or reaching out via professionally-oriented networks as well as brainstorming members of professional organizations.
Plan Talk points
Preparing for a meeting is time well spent. You’ll be more confident when the presentation of your case if are prepared with a specific list of points to discuss before the deadline.
Here are a few instances of items you might consider including in your salary negotiation:
- Education & certification
- Years of relevant experience
- Results and achievements
- A unique set of skills and characteristics (e.g. the ability to speak two languages)
- Know-how in the field
- Training potential
A notepad or notebook can aid in conversations, so that you don’t miss any important information.
Be confident & concise
During a salary negotiation, it’s important to be confident and articulate. Speak clearly about your experiences, achievements and job expectations. It’s essential to maintain a positive tone throughout this conversation so that the person who is hiring you feels that you’re not seeming aggressive.
Show tangible results
Simply stating that one is ambitious, hardworking, and goal-oriented might not be enough to make an impressive appeal. Make sure to provide precise statistics on how previous roles made difference in companies or how important are certain qualities that benefit the organization.
Be flexible
If the employer isn’t able to agree to your requested salary or compensation package being flexible and open can allow room for dialogue. You may be able to ask for alternative rewards, like performance-based bonus models instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation process no matter how well or poorly it’s going fighting too much or making unreasonable demands can have a negative impact for all parties who is involved.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Be attentive to the your counterpart during negotiations. Listen to requests carefully and clarifying doubts as much as you can while keeping to the initial request. The goal is to achieve satisfactory results.
Use the lessons you’ve learned from these discussions and apply it to future talks you’re likely to participate in. By following the suggestions above, you will go in the right direction to increase the chances of achieving mutually beneficial outcomes.
| Your Network is Important | Contact friends and acquaintances who have had similar experiences or reach out to professionally-oriented networks as well doing brainstorming members within professional organizations. |
| Plan Talk points | Qualifications and training, Years of relevant experience and accomplishments, unique ability and traits (e.g. bi-lingualism), Industry knowledge, the potential for training |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Be flexible | Consider alternative incentives such as bonuses based on performance instead of Base salary. (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as speaking during these kinds of conversations. You can take the lessons you’ve learned from these discussions and incorporate it into any future discussions you’ll likely be involved in. |
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Frequently Asked Questions
What is the concept of salary negotiation?
The process involves negotiating and deciding on the compensation package for a job. During this process 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 bargain on salary?
Negotiating your pay can provide you a better financial future and show you are aware of your worth. It also helps you keep money off the table.
When should I start negotiating the salary?
It is recommended to begin negotiations after receiving an offer so that everyone is conscious of what’s being discussed. In this way, discussions are focused on negotiating perfect terms while avoiding unexpected surprise.
What if I am content with the offered package without any negotiation?
If you get an offer and you are satisfied with the offer, then there’s no need to discuss it. But it’s important to have transparent communication about 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 switching careers completely?
Salary negotiation when changing career paths could require additional training because your previous work experience may not directly translate or be a part of the new job. Find out what similar jobs in similar industries pay, to develop a thorough knowledge of the realistic expectations you can set for you, based on the particular circumstances you face.
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