How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be difficult to talk about, because it is about balancing what you consider your worth and what an employer thinks they’re able to pay. If it’s done right it could be an enjoyable experience for both the employer and employee, which results in a better salary for the employee and greater engagement of the employee in their job. Learn how to negotiate your salary confidently.
Principal Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure that the salary you request is reasonable.
- Collect information through networking with colleagues, using online resources like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Plan your talk points ahead of the time, including education and certifications in the form of years of relevant work knowledge, accomplishments and achievements, unique skill set & qualifications, industry knowledge and the potential for further training.
- During the negotiation, be assured and confident but remain flexible and open. Bring out tangible results you’ve achieved in your previous roles.
- Maintain a positive tone throughout the conversation, and practice active listening.
Do your research
Prior to entering any salary negotiation, it’s important to do thorough research on market rates and industry standards to make sure your salary offer is reasonable. Some factors that can affect this may include levels of experience levels, the size of your company, and location (?). A great method of gathering information is to make connections with colleagues or other professionals in your chosen job field.
Research Online
With the aid of online resources such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. Htm) you can get an additional perspective on the benchmarking range of salary businesses are providing for same job. This gives you an idea about current market rate and a few other elements that are related to a job.
Your Network is Important
Gain insight by speaking to people who have had similar positions, or contacting them via professional networks in addition to brainstorming professionals in professional organizations.
Prepare Talk points
Time spent preparing for any negotiations is always a good time spent. You’ll feel more confident when making your case if you have a clearly defined list of points to discuss in advance.
Here are some instances of things that you might consider including in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Achievements and results
- Particular skill set and traits (e.g. language proficiency,)
- Industry knowledge
- Training potential
Notes and notebooks can also help during conversations so that one doesn’t forget any important details.
Be confident & concise
In a negotiation for a salary It is important to be confident and articulate. Talk clearly about your work experience of accomplishments and your expectations. It’s essential to maintain your tone of voice positive throughout the conversation so that the person who is hiring you feels that you’re not appearing to be hostile.
The Key to Tangible Results
Simply stating that someone is determined, hardworking and focused may not be enough for an strong appeal. Make sure to provide precise statistics about how your previous positions made a significant difference to companies or how valuable are specific abilities that help an organisation.
Keep your mind open
If the employer cannot agree to your salary request or compensation package, remaining flexible and open-minded will help open the door to discussion. You may be able to ask for alternative incentives like performance-based bonus arrangements instead of the Base salary(? ).
Keep your cool throughout the negotiation - regardless of how well or not: fighting too much or imposing unreasonable demands can lead to a negative outcome for everybody that is.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Pay attention to your counterpart during negotiations. Listen to the amount requested carefully and clarifying doubts, if necessary, while maintaining the what you originally requested. In the end, both parties must achieve satisfactory results.
Take what you have learned from these discussions and incorporate them into future talks you’re likely to participate in. Following the tips above goes far in maximizing the chances of achieving positive, mutually beneficial results.
| Your Network is Important | Contact friends and acquaintances who’ve held similar roles or reaching out through the professional network as well doing brainstorming members of professional associations. |
| Prepare Talk points | Education & certification, Years of relevant experience, Performance and achievements, unique skills and characteristics (e.g. multilingualism) Know-how in the field, ability to train |
| 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 as important in these types of conversations. Learn from these conversations and incorporate it into any future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
It is the act of negotiating and deciding on the compensation plan for a position. When you negotiate this you will be able to discuss not just your salary base, but also benefits like retirement plans, health insurance and many more.
Why is it necessary to negotiate salary?
Negotiating your salary will give you a more secure financial future as well as indicate that you know your worth. It can also help you keep money off the table.
How soon should I negotiate for a raise?
It’s best to begin negotiating immediately after receiving an offer so everyone is conscious of what’s being negotiated. This way, the negotiations will be focused on securing optimal terms and avoid unpleasant surprises.
What if I am content with the offer without negotiation?
If you get an offer and are content with the offer, then there’s no reason to negotiate. But it’s important to communicate clearly what the employers are willing to offer with regards to things like performance-based bonuses or career-training reimbursements.
What is the best way to negotiate my salary? I change careers entirely?
Negotiating salary when you change career paths may require added preparation due to the fact that your previous experiences may not be directly applicable or encapsulate new responsibilities. Find out what similar jobs in related industries pay to gain a robust understanding of realistic expectations for yourself, in light of the specific circumstances.
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