How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it is about balancing what you consider your worth and what your employer believes they’re able to pay. However, if done correctly it can be an enjoyable experience for both sides that results in a higher pay for the employee and a greater employees’ engagement in their jobs. Here’s how to bargain your salary in confidence.
The most important takeaways
- Before you make a salary offer, research market rates and industry standards to ensure that the salary you request is reasonable.
- Get information from connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Prepare talking points ahead of time, including education & certification as well as years of relevant experience, results & achievements as well as unique skill sets and abilities, industry expertise, and training opportunities.
- During the negotiation, you must be assured and confident but remain flexible and open. You should highlight tangible results you’ve achieved in your previous roles.
- Keep a positive and upbeat tone throughout the conversation, and practice active listening.
Do your research
Before entering into any salary negotiation, it’s important to conduct a thorough study of current market rates and industry standards to make sure your salary offer is reasonable. The factors that could affect this could include levels of experience levels, the size of your company and geographical location. (?). Another great method to gather data is to connect with colleagues or other professionals who are in the same job field.
Research Online
With the help of online resources, such as [LinkedIn Salary] (https: //www. linkedin. https://www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you will get a more substantial approach towards the benchmarking range of salary that companies offer for the exact job. This will give you an idea about current market prices and also other factors related to the job.
Your Network Is Essential
Gain insight by speaking to people who have had similar roles or reaching out through professional networks as well doing brainstorming members within professional organizations.
Make Talking points
Preparing for any negotiations is always a good time spent. You’ll feel much more confident in making your case if you have a set of talking points outlined ahead of time.
Here are some examples of things you may want to consider when negotiating your salary:
- Certification and education
- Years of relevant experience
- Achievements and results
- Unique skill set and qualities (e.g. bilingualism)
- Industry knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure that you don’t miss any important details.
Be confident & concise
In a salary negotiation it is essential to be confident and clear. Talk clearly about your work experience accomplishments, your job goals and achievements. It’s essential to maintain your tone of voice positive throughout the conversation to ensure that your person who is hiring you feels that you’re not being unfriendly.
Highlight the tangible results
Simply stating that someone is determined, hardworking and focused may not be enough to generate an impressive appeal. Therefore, provide clear data about how your previous positions made a difference in companies or what are the most valuable qualities that benefit the organization.
Keep your mind open
If the employer isn’t able to your requested salary or compensation arrangement, remaining flexible and open-minded can allow room for dialog. You could ask about alternative incentive options such as performance-based bonuses or structures instead of Base salary(? ).
Be sure remain professional throughout the negotiation process regardless of how well or poorly it’s going getting too defensive or making unreasonable demands is likely to result in an unfavourable outcome for all parties affected.
Practice active listening
Listening is just as important as communicating in these types of conversations. Listen attentively from the your counterpart during negotiations. Listen to the amount requested carefully and clarifying doubts as much as you can while keeping to the what you originally requested. The goal is to come out with acceptable results.
Consider the lessons you’ve learned away from these conversations and apply it to future talks you’re likely to participate in. Following the tips above goes an enormous way to increasing the chance of achieving positive, mutually beneficial results.
| Your Network is Important | Talk to your friends who have had similar experiences or connect with professionally-oriented networks and brainstorming with members within professional organizations. |
| Make Talk points | Training and certification, years of relevant experience, Results and accomplishments, unique skills and characteristics (e.g. bi-lingualism) Knowledge of the industry, ability to train |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Highlight Tangible Results. |
| Keep your mind open | Find out about other incentives, such as performance-based bonus structures instead of Base salary. (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is just as important in these types of conversations. You can take the lessons you’ve learned from these discussions and incorporate them into the future negotiations you’ll likely take part in. |
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Frequently Asked Questions
What is the concept of salary negotiation?
Negotiating salary is discussing and deciding on the compensation package to be paid for your job. When you negotiate this it is possible to discuss not only the base salary, but also additional benefits such as health insurance, retirement plans as well as other benefits.
Why is it important to discuss salary?
Negotiating your salary will give you a greater financial future and also show that you’re aware of what you’re worth. This can help you avoid putting money on the table.
When should I start negotiating for a raise?
It is recommended to begin negotiations following the acceptance of an offer to ensure that everyone is conscious of what’s being negotiated. Then, the negotiations are focused on securing optimal terms and avoid unpleasant surprises.
What if I am content with the package I was offered without negotiation?
If you are offered a job and you are satisfied with it, then there may be no need to bargain. However, it’s still essential to have transparent communication about what the employers are willing to offer in terms of things like performance-based bonuses or career-training reimbursements.
Can I negotiate salary when changing careers?
Negotiating salary when you change career paths can require extra planning because your prior experiences may not be directly applicable or overlap with new responsibilities. Learn about the salaries similar to those in related fields pay to gain a robust knowledge of the realistic expectations you can set for yourself, in light of the specific circumstances.
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