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 think you’re worth versus what an employer thinks they’ll be able to afford. If it’s done right it can be positive for both the employer and employee, which results in a higher pay for the employee and a greater satisfaction for the employees in their work. Here’s how you can negotiate your salary confidently.
Principal Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to confirm that your salary request is realistic.
- Gather information through connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education & certificates in the form of years of relevant work experiences, achievements and results, unique skill set & qualities, industry knowledge, and training potential.
- In the course of negotiations, you should be assured and confident but remain flexible and open-minded. Bring out tangible results you’ve had in your previous positions.
- Maintain a positive mood throughout the conversation, and be active in your listening.
Do your research
Before entering into any salary negotiation, you need to do thorough research on standard industry rates and market rates to ensure that your salary request is reasonable. The factors that could affect this could include the level of experience, degree, size of the company and geographical location. (?). One way to gather data is to connect with colleagues or others in your chosen profession.
Research Online
With the aid of online sources, like [LinkedIn Salary] (https: //www. linkedin. com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. htm) you will get a an extensive view of the salary range that benchmarking companies pay for the same job. This gives you an idea of the current market rate and a few other facets of the position.
Your Network Is Important
Get insight from talking to friends who have held similar positions, or contacting them via professionals networks and brainstorming with members of professional organizations.
Prepare Talk points
The time spent in preparing for a negotiation is always well spent. You’ll feel more confident in the presentation of your case if have a clear set of talking points outlined prior to the time.
Here are a few ideas of things that you could consider when negotiating your salary:
- Certification and education
- Years of relevant experience
- Performances and results
- Unique skill set and qualities (e.g. bilingualism)
- Knowledge of the industry
- Potential for training
The idea of keeping a notepad and/or notes handy could be helpful during conversations so that you don’t miss any important details.
Be confident & concise
During a salary negotiation it is essential to be confident and articulate. Speak clearly about your experiences as well as your achievements and expectations for the job. It’s crucial to maintain your tone of voice positive throughout the dialogue so that the employer isn’t seeming aggressive.
Highlight Tangible Results
Simply stating one is committed, hardworking, and focused may not be enough to generate an impactful appeal. Make sure to provide precise statistics on how previous roles made an impact in the workplace or what are the most valuable abilities which benefit organisation
Stay flexible
If your employer isn’t able to your salary or compensation package being flexible and open can allow room for discussions. You may be able to ask for alternatives to incentives, such as performance-based bonus arrangements instead of Base salary(? ).
Be sure remain professional throughout the negotiation - no matter how well or badly it’s going fighting too much or imposing unreasonable demands could cause a negative result for everyone involved.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Do listen actively from 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 achieve satisfactory results.
Take what you have learned away from these conversations and incorporate them into future negotiations you’ll likely take part in. By following the suggestions above, you will go far in maximizing the chance of achieving an agreement that is mutually beneficial.
| Your network is important | Have a chat with friends who’ve held similar roles or connect with professional networks as well doing brainstorming members within professional organizations. |
| Prepare talking points | Qualifications and training, Years of relevant experience and achievements, unique abilities and skills (e.g. bi-lingualism), Industry knowledge, the potential for training |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Make sure you highlight tangible results. |
| Be flexible | Ask about alternative incentives like performance-based bonus structures instead of Base salary. (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally important as speaking during these kinds of conversations. Take what you have learned away from these conversations and incorporate it into any future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is salary negotiation?
The process involves negotiating and deciding on the compensation plan to be paid for your job. In this negotiation it is possible to discuss not only the base salary, but also other benefits like retirement plans, health insurance as well as other benefits.
Why why is it important to bargain on salary?
Negotiating your salary could give you a greater financial future and show you know your worth. It will also allow you to not leave money on the table.
What is the best time to negotiate a salary?
It is recommended to begin negotiations immediately after receiving an offer so everyone is aware of the terms being negotiated. So, discussions are focused on negotiating ideal terms while avoiding unpleasant surprises.
What happens if I am completely satisfied with the offered package without negotiating?
If you are offered a job and you are satisfied with the offer, then there may be no need to bargain. But it’s important to have transparent communication about what the employers are willing to offer with regards to things like compensation for training or performance-based bonuses.
Can I negotiate salary when changing career paths entirely?
Negotiating your salary after changing career paths may require added planning because your prior experiences may not be directly applicable or be a part of the new job. Find out what similar jobs in related industries pay, to develop a thorough understanding of realistic expectations for you, based on the specific circumstances.
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