How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it involves balancing what you believe you’re worth with what an employer thinks they can afford. If done properly it could be an enjoyable experience for both the employer and employee, which results in a better salary for the employee as well as greater employee engagement in their work. Here’s how to make your salary negotiation a success.
Important Takeaways
- Before you make a salary offer, research market rates and industry standards to confirm that your salary offer is fair.
- Get information from connecting with colleagues through online resources such as LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Plan your talk points ahead of time, including education & certificates in the form of years of relevant work experiences, achievements and results as well as unique skill sets and capabilities, knowledge of the industry, and potential for training.
- During negotiations, be assertive and confident, yet flexible and open. Show tangible results that you’ve achieved in your previous positions.
- Maintain a positive mood throughout the conversation and be active in your listening.
Do your research
Before you begin any salary negotiation, it’s important to do thorough research on current market rates and industry standards to ensure that your salary request is realistic. Things that may affect this include experience level, company size, and location (?). One way to gather information is through networking with your colleagues or those in your chosen job field.
Research Online
With the aid of internet-based resources like [LinkedIn Salary] (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. htm) you can obtain a an additional perspective on the range of benchmarking salaries that companies offer for the exact role which will gives you an idea about current market rates and other facets of the position.
Your Network Is Vital
Find out more about your situation by talking with colleagues who have been in similar positions, or contacting them through professional networks as well doing brainstorming professionals in professional organizations.
Plan Talking points
Time spent preparing for any negotiations is always a good time spent. You’ll be more confident in giving your argument if you have a clear outline of your talking points before the deadline.
Here are a few instances of items you may want to consider including in your salary negotiation:
- Education and certification
- Years of relevant experience
- Performances and results
- Particular skill set and traits (e.g., bilingualism)
- Knowledge of the industry
- Training potential
Notes and notebooks can also help during conversations so that you don’t miss any important information.
Be confident & concise
When you negotiate your salary It is important to be confident and articulate. Make sure you are clear about your past experiences as well as your achievements and expectations for the job. It’s crucial to maintain a positive tone throughout this dialogue so that the employer feels like you’re not being unfriendly.
Highlight Tangible Results
Simply saying that you are determined, hardworking and goal-oriented might not be enough for an impactful appeal. Make sure to provide precise statistics regarding how prior roles have made a significant difference to companies or how important are certain skills which benefit organisation
Remain flexible
If your employer isn’t able to your salary request or compensation arrangement, remaining flexible and open-minded will help open the door to dialogue. You could ask about alternative rewards, like performance-based bonus structures, instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process - no matter how well or poorly it’s going getting too defensive or making unreasonable demands will likely result in an unfavourable outcome for everybody affected.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Pay attention to any other participant during negotiations, observing the amount requested carefully and clarifying doubts as much as you can while maintaining the their original request. The goal is to arrive at acceptable outcomes.
Take what you have learned from these discussions and apply it to future negotiations you’ll likely take part in. Following the tips above goes an enormous way to increasing the chances of achieving mutually beneficial outcomes.
| Your network is important | Talk to your friends who have held similar roles or connect with professional networks and brainstorming with members of professional associations. |
| Make Talk points | Education & certification, Years of relevant experience, Performance and achievements, unique skills and characteristics (e.g., bilingualism) 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. Use tangible results to highlight your achievements. |
| Stay flexible | Find out about other incentives, such as incentive structures based on performance rather than Base salary (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is as crucial as communicating during these types of conversations. Consider what you’ve learned away from these conversations and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently Answered Questions
What is salary negotiation?
It is the act of discussing and deciding on the compensation plan for a position. In this negotiation you are able to discuss more than only the base salary, but also other benefits like retirement plans, health insurance and much more.
Why is it important to negotiate a salary?
Negotiating your salary will give you a more secure financial future as well as indicate that you’re aware of what you’re worth. It can also help you keep money off the table.
How soon should I negotiate a salary?
It’s best to begin negotiating immediately after receiving an offer so that all parties are aware of what is being discussed. So, discussions are focused on negotiating ideal terms while avoiding unpleasant surprises.
What happens if I am satisfied with the package I was offered without negotiating?
If you get an offer and you are satisfied with it, there’s no need to discuss it. However, it’s still essential to provide clear information about what the employers are willing to offer in the form of compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? changing careers?
Negotiating salary when you change career paths can require extra training because your previous work experiences might not translate or encapsulate new responsibilities. Study what similar positions in similar industries pay, to develop a thorough comprehension of realistic expectations for you, based on the particular circumstances you face.
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