How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it is about balancing what you think you’re worth versus what an employer thinks they can afford. However, if done correctly it could be a positive experience for both parties that results in a higher pay for the employee and greater satisfaction for the employees in their work. Learn how to negotiate your salary confidently.
Principal Takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure your salary offer is fair.
- Collect information through the networking of 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 & accreditation, years of relevant knowledge, accomplishments and achievements, unique skill set & capabilities, knowledge of the industry, and potential for training.
- 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 be active in your listening.
Do your research
Before entering into any pay negotiation, it’s crucial to conduct a thorough study of standard industry rates and market rates to ensure that your salary suggestion is realistic. The factors that could affect the amount you are offered could be the level of experience, degree, size of the company and geographical location. (?). Another great method to gather information is to make connections with colleagues and others in your chosen area of work.
Research Online
Utilizing internet-based resources like [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. Htm) you can get an additional perspective on the salary range that benchmarking companies pay for the same role which will gives you an idea of current market prices and also other factors related to the job.
Your Network is Essential
Get insight from talking to people who have had similar roles, or reaching out through the professional networks as well doing brainstorming members of professional organizations.
Prepare Talking points
The time spent in preparing for a meeting is time well spent. You’ll feel more confident in making your case if you have a clearly defined set of talk points that you have outlined ahead of time.
Here are a few suggestions of things you could consider when negotiating your salary:
- Education and certification
- Years of relevant experience
- Performances and results
- A unique set of skills and characteristics (e.g. bilingualism)
- Industry-specific knowledge
- Training potential
Notes and notebooks can assist during conversations to ensure it is not lost important information.
Be confident & concise
In a salary negotiation, it’s important to be confident and articulate. Speak clearly about your experiences of accomplishments and your expectations. It’s important to maintain a positive attitude throughout this conversation to ensure that your employer doesn’t feel like you’re coming across as aggressive.
The Key to Tangible Results
Simply stating one is ambitious, hardworking, and aspire-driven person may not be enough for an impactful appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made difference in companies or how important are certain abilities that benefit the organization.
Stay flexible
If the employer isn’t able to your requested salary or compensation plan in full, remaining flexible and open-minded will allow for discussion. It is possible to inquire about alternatives to incentives, such as performance-based bonus arrangements instead of Base salary(? ).
Keep your cool during the negotiation process - regardless of how well or badly it’s going fighting too much or imposing unreasonable demands is likely to result in an unfavourable outcome for everybody involved.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Do listen actively from any other participant during negotiations, observing requests carefully and clarifying doubts, if necessary, while remaining in the spirit of your their original request. Both parties should ultimately arrive at acceptable outcomes.
Take what you have learned away from these conversations and incorporate them into future negotiations that you’re likely to be involved in. By following the suggestions above, you will go far in maximizing your chances of achieving mutually beneficial outcomes.
| Your network is important | Contact friends and acquaintances who have held similar roles or reaching out through the professional network and brainstorming with members of professional associations. |
| Create Talk points | Certification and education, Years of relevant experience, Performance and accomplishments, Unique abilities and skills (e.g. multilingualism) and industry knowledge. ability to train |
| Be confident & concise | Be clear about your experience, achievements and job expectations. Focus on tangible results. |
| Stay flexible | Find out about other incentives, such as bonuses based on performance instead of Base salary. (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is equally as important as communicating during these types of conversations. You can take the lessons you’ve learned from these discussions and incorporate them into future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is salary negotiation?
It is the act of discussing and deciding on the compensation package to be paid for your job. When you negotiate this it is possible to discuss not just your salary base, but also other benefits like retirement plans, health insurance as well as other benefits.
Why is it so important to discuss salary?
Negotiating your salary could give you a better financial outlook as well as indicate that you know your worth. It will also allow you to avoid putting money on the table.
What is the best time to negotiate for a raise?
It is recommended to begin negotiations immediately after receiving an offer so that everyone is aware of the terms being negotiated. In this way, discussions are focused on negotiating ideal terms while avoiding unintentional surprises.
What happens if I am completely satisfied with the package I was offered without negotiating?
If you accept an offer and are content with it, there’s no need to discuss it. But it’s important to provide clear information about what the employers are willing to offer regarding things such as compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? changing career paths entirely?
Negotiating salary when you change careers may require more training because your previous work experiences might not translate or be a part of the new job. Study what similar positions in related fields pay to gain a robust knowledge of the realistic expectations you can set for you, based on the particular circumstances you face.
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