How to Negotiate Salary for Your Next Career Move
A salary negotiation can be a difficult conversation, as it involves balancing what think you’re worth versus the amount an employer believes they’re able to pay. But, if it’s done correctly it can be a positive experience for both parties that results in a better salary for the employee, as well as greater employee engagement in their work. Here’s how to negotiate your salary with confidence.
Key Takeaways
- Before you make a salary offer take a look at market rates and industry standards to make sure that your salary request is realistic.
- Collect information through socializing with colleagues, using online tools like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Create talking points ahead of time, including education & certificates as well as years of relevant experience, the results and achievements and unique skills abilities, industry expertise, and training potential.
- During the negotiation, you must be assertive and confident, yet flexible and open. Highlight tangible results that you’ve achieved in your previous positions.
- Maintain a positive mood throughout the conversation and make sure you are listening actively.
Do your research
Before you enter any salary negotiation, it’s important to conduct a thorough investigation of current market rates and industry standards to ensure that your salary request is reasonable. Factors that might impact this may include levels of experience level, company size as well as location. (?). One way to gather information is to network with your colleagues or those in your chosen field of work.
Research Online
With the aid of online resources, such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https: //www. linkedin. com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. htm) you can obtain a an additional perspective on the salary range that benchmarking businesses pay for the same job. This will give you an idea of the current market rate and a few other factors related to an employment.
Your Network is Vital
Gain insight by speaking to friends who have held similar positions or reaching out via professionals networks and brainstorming with members within professional organizations.
Create Talking points
Preparing for any negotiations is always a good time spent. You’ll feel much more confident when the presentation of your case if have a clearly defined set of talk points that you have outlined in advance.
Here are a few examples of things you might consider including in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Achievements and results
- A unique set of skills and characteristics (e.g. the ability to speak two languages)
- Knowledge of the industry
- Potential for training
Notes and notebooks can aid in conversations, so that one doesn’t miss any important information.
Be confident & concise
During a salary negotiation, it’s important to be confident and articulate. Speak clearly about your experiences accomplishments, your job goals and achievements. It’s crucial to maintain your tone of voice positive throughout the conversation to ensure that your employer isn’t appearing to be insecure.
Show tangible results
Simply stating that someone is driven, hardworking, and goal-oriented may not be enough for an impactful appeal. Make sure to provide precise statistics about how your previous positions made a difference in companies or what are the most valuable abilities that can benefit an organization.
Remain flexible
If the employer isn’t able to agree to your salary request or compensation package outright being flexible and open will help open the door to dialogue. You may be able to ask for alternative incentive options such as performance-based bonuses or structures, instead of Base salary(? ).
Be sure remain professional throughout the negotiation - regardless of how smoothly or badly it’s going getting too defensive or imposing unreasonable demands will likely cause a negative result for everybody involved.
Practice active listening
Listening is just as important as speaking during these kinds of conversations. Be attentive to the other party during negotiations hearing the amount requested carefully and clarifying questions if needed, but maintaining the original request. Ultimately both parties should arrive at acceptable outcomes.
Use the lessons you’ve learned from these conversations and apply it to future discussions you’ll probably be involved in. Applying the advice above goes far in maximizing the chances of achieving positive, mutually beneficial results.
| Your network is important | Have a chat with friends who have had similar experiences or reach out via professionally-oriented networks in addition to brainstorming members of professional associations. |
| Make Talk points | Certification and education, Years of relevant experience, Results and achievements, Unique ability and traits (e.g. the ability to speak two languages) and industry knowledge. Training potential |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Highlight Tangible Results. |
| Be flexible | You can inquire about alternative incentives such as the performance-based bonuses instead of Base salary. (?). You must remain professional during the negotiation. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. Take what you have learned 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?
Salary negotiation is the process of discussing and deciding on the compensation package for a position. Through this process, you can discuss not just the salary you earn, but also additional benefits such as retirement plans, health insurance and much more.
Why is it important to negotiate a salary?
Negotiating your salary will give you a greater financial future as well as show that you’re confident about your worth. It also helps you not leave money on the table.
How soon should I negotiate the salary?
It’s best to begin negotiating immediately after receiving an offer so everyone is informed of what’s being negotiated. Then, the discussions are focused on negotiating optimal terms and avoid unintentional surprises.
What happens if I am completely satisfied with the deal I received without any negotiation?
If you are offered a job and you are satisfied with it, then there’s no need to negotiate. But it’s important to provide clear information about what employers will provide 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?
The negotiation of salary for changing career paths can require extra preparation because your past experience might not directly translate or overlap with new responsibilities. Study what similar positions in related fields pay to gain a robust comprehension of realistic expectations for you, based on your specific circumstances.
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