How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an arduous process because it involves balancing what think you’re worth versus the amount an employer believes they’re able to afford. If it’s done right it can be an enjoyable experience for both parties, resulting in a higher salary for the employee and a greater engagement of the employee in their job. Here’s how you can negotiate your salary with confidence.
The most important takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to ensure your salary proposal is realistic.
- Collect information through the networking of colleagues, using online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Plan your talk points ahead of time, including education and accreditation in the form of years of relevant work knowledge, accomplishments and achievements and unique skills abilities, industry expertise, and training potential.
- During negotiations, be assertive and confident, yet flexible and open. You should highlight tangible results you’ve had in your previous roles.
- Maintain a positive tone throughout the conversation and practice active listening.
Do your research
Before you begin any salary negotiation, it’s important to conduct a thorough study of standard industry rates and market rates to ensure that your salary suggestion is reasonable. Things that may affect this may include your experience degree, size of the company as well as location. (?). Another great method to gather information is to make connections with colleagues or other professionals in your chosen job field.
Research Online
With the help of some online resources, such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) You can find a more comprehensive information about the range of benchmarking salaries businesses are providing for same job. This will give you an idea of the market rate and a few other aspects related to an employment.
Your Network is Important
Gain insight by speaking to acquaintances who have had similar roles or reaching out via the professional networks as well doing brainstorming members of professional associations.
Prepare Talking points
Preparing for any negotiation is always well spent. You’ll be more confident in making your case if you are prepared with a specific list of points to discuss ahead of time.
Here are some instances of what you might want to think about during your salary negotiation:
- Certification and education
- Years of relevant experience
- The results and accomplishments
- Unique set of skills and attributes (e.g. the ability to speak two languages)
- Knowledge of the industry
- Potential for training
Also keeping notes/notebook handy can aid in conversations, so it is not lost crucial points.
Be confident & concise
In a salary negotiation, it’s important to be confident and articulate. Make sure you are clear about your past experiences of accomplishments and your expectations. It is important to keep a positive tone throughout this conversation so that the employer feels like you’re not seeming unfriendly.
Show tangible results
Simply stating one is ambitious, hardworking, and focused may not be enough to make an strong appeal. It is important to present clear and precise data about how your previous positions made a an impact in the workplace or how important are certain skills that help an organisation.
Be flexible
If your employer isn’t able to agree to your salary or compensation package outright Being flexible and open will allow for discussion. You could ask about alternative incentives like performance-based bonus structures instead of Base salary(? ).
Make sure to remain professional throughout the negotiation process no matter how well or poorly it’s going being too combative or imposing unreasonable demands can result in an unfavourable outcome for everyone who is involved.
Practice active listening
Listening is equally as important as communicating in these types 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 their original request. The goal is to be able to reach a satisfactory conclusion.
Take what you have learned from these conversations and apply it to future talks you’re likely to participate in. By following the suggestions above, you will go a long way towards maximizing your chances of reaching positive, mutually beneficial results.
| Your network is important | Have a chat with friends who’ve held similar roles or reaching out through professional networks in addition to brainstorming members of professional associations. |
| Make talking points | Certification and education, Years of relevant experience, Results and accomplishments, unique skill set and qualities (e.g. multilingualism), Industry knowledge, Training potential |
| Be confident & concise | Be clear about your experience, achievements and job expectations. Make sure you highlight tangible results. |
| Stay flexible | You can inquire about alternative 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 equally as important as communicating in these kinds of conversations. Learn from these discussions and apply it to future conversations you’ll probably be involved in. |
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Frequently Asked Questions
What is salary negotiation?
The process involves discussing and deciding on the compensation package for a position. During this process you are able to discuss more than only the base salary, but also other benefits like retirement plans, health insurance and many more.
Why why is it important to negotiate a salary?
Negotiating your salary will give you a more secure financial future and also show that you’re aware of what you’re worth. It also helps you not leave money on the table.
How soon should I negotiate a salary?
It’s best to begin negotiating after you have received an offer, so everyone is aware of the terms being discussed. So, discussions are focused on negotiating perfect terms while avoiding unexpected unintentional surprises.
What if I am happy with the offer with no negotiation?
If you get an offer and are content with the offer, then there may be no need to discuss it. It’s nevertheless important to provide clear information about what the employer will offer with regards to things like the performance-based bonus 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 be a part of the new job. Research what similar roles in related fields pay to gain a robust knowledge of the realistic expectations you can set for you, considering the particular circumstances you face.
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