How to Negotiate Salary for Your Next Career Move
Negotiating your salary is a difficult conversation, as it requires you to balance what you believe you’re worth with what an employer thinks they’ll be able to afford. However, if done correctly it can be positive for both parties, resulting in a better salary for the employee, as well as greater engagement of the employee in their job. Here’s how you can negotiate your salary confidently.
The most important takeaways
- Before you negotiate your salary study market rates and industry standards to ensure your salary proposal is realistic.
- Collect information through networking with colleagues, using online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Create talking points ahead of the time, including education and certification in the form of years of relevant work experience, the results and achievements with a unique set of skills and qualities, industry knowledge, and training potential.
- During the negotiation, be confident and articulate but also flexible and open-minded. Highlight tangible results that you have achieved in previous positions.
- Maintain a positive mood throughout the conversation, and practice active listening.
Do your research
Prior to entering any negotiations regarding salary, it’s essential to do thorough research on standard industry rates and market rates to make sure your salary offer is reasonable. The factors that could affect this may include levels of experience level, company size as well as location. (?). One way to gather data is to connect with your colleagues or those who are in the same area of work.
Research Online
Utilizing internet-based resources like [LinkedIn Salary] (https: //www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you can get an additional perspective on the benchmarking range of salary businesses pay for the same job. This will give you an idea about current market prices and also other facets of the job.
Your Network Is Vital
Gain insight by speaking to people who have had similar positions, or contacting them via professionals networks in addition to brainstorming members of professional organizations.
Prepare Talking points
Time spent preparing for any meeting is time well spent. You’ll be much more confident when making your case if you are prepared with a specific outline of your talking points in advance.
Here are some suggestions of things that you may want to consider to include in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Achievements and results
- Unique set of skills and attributes (e.g. language proficiency,)
- Industry-specific knowledge
- Training potential
Notes and notebooks can aid in conversations, so that one doesn’t forget any important points.
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 is important to keep a positive attitude throughout this dialogue so that the person who is hiring you feels that you’re not appearing to be hostile.
Highlight the tangible results
Simply stating one is committed, hardworking, and goal-oriented may not be enough to create an impressive appeal. So put forward clear statistics about how your previous positions made a an impact in the workplace or how valuable are specific qualities that help an organisation.
Be flexible
If the employer cannot agree to your salary or compensation package outright, remaining flexible and open-minded can allow room for discussion. You could ask about alternative rewards, like performance-based bonus arrangements instead of Base salary(? ).
Keep your cool throughout the negotiation - regardless of how well or not: fighting too much or imposing unreasonable demands is likely to lead to a negative outcome for everyone that is.
Practice active listening
Listening is as crucial as communicating in these types of conversations. Do listen actively from your counterpart during negotiations. Listen to specific requests and resolving doubts as much as you can while keeping to the what you originally requested. The goal is to be able to reach a satisfactory conclusion.
Consider the lessons you’ve learned away from these conversations and apply it to future negotiations you’ll likely take part in. By following the suggestions above, you will go far in maximizing your chances of reaching mutually beneficial outcomes.
| Your network is important | Talk to your friends who’ve held similar roles or reach out via professionally-oriented networks in addition to brainstorming members of professional associations. |
| Prepare talking points | Education & certification, Years of relevant experience, Results and achievements, Unique skills and characteristics (e.g. the ability to speak two languages) and industry knowledge. ability to train |
| Be confident & concise | Talk clearly about your personal experiences accomplishments, job goals and achievements. Make sure you highlight tangible results. |
| Stay flexible | You can inquire about alternative incentives such as the performance-based bonuses instead of Base salary. (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally as important as speaking during these kinds of conversations. Consider what you’ve learned from these conversations and incorporate it into any future negotiations you’ll likely take part in. |
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Frequently asked questions
What is salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation package to be paid for your job. When you negotiate this, you can discuss not only the base salary, but also other benefits, such as retirement plans, health insurance and much more.
Why why is it important to discuss salary?
Negotiating your salary can give you a better financial future as well as show that you’re confident about your worth. It will also allow you to keep money off the table.
How soon should I negotiate for a raise?
It’s best to begin negotiating following the acceptance of an offer to ensure everyone is informed of what’s being negotiated. In this way, negotiations will focus on securing ideal terms while avoiding unpleasant surprises.
What if I am happy with the package I was offered without negotiation?
If you get an offer and are pleased with the offer, then there may be no need to discuss it. However, it’s still essential to provide clear information about what the employer will offer in the form of performance-based bonuses or career-training reimbursements.
What is the best way to negotiate my salary? I change careers entirely?
Negotiating your salary after changing career paths may require added preparation because your past experiences may not be directly applicable or relate to the new duties. Learn about the salaries similar to those in related industries pay, to develop a thorough understanding of realistic expectations for you, based on your specific circumstances.
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