How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be difficult to talk about, because it involves balancing what think you’re worth versus what your employer believes they’ll be able to afford. If it’s done right it can result in an enjoyable experience for both parties, resulting in a better salary for the employee as well as greater employee engagement in their work. Here’s how you can bargain your salary in confidence.
Important Takeaways
- Before you negotiate your salary, research market rates and industry standards to ensure your salary request is realistic.
- Gather information through socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Make a list of talking points ahead time, including education and certifications as well as years of relevant knowledge, accomplishments and achievements as well as unique skill sets and qualities, industry knowledge, and the potential for further training.
- During the negotiation, you must be assertive and confident, yet flexible and open-minded. Bring out tangible results you’ve had in your previous roles.
- Maintain a positive mood throughout the conversation and engage in active listening.
Do your research
Before you begin any negotiations regarding salary, it’s essential to conduct a thorough study of the market and standards in the industry to ensure that your salary request is realistic. The factors that could affect this may include levels of experience level, company size as well as location. (?). A great method of gathering information is to network with colleagues or others in your chosen job field.
Research Online
Utilizing online resources, such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. https://www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a more substantial approach towards the benchmarking range of salaries businesses are providing for same job. This will give you an idea of the market rates and other aspects related to the job.
Your Network is Vital
Gain insight by speaking to friends who have held similar positions or reaching out via professionals networks as well as brainstorming professionals in professional organizations.
Plan Talk points
Preparing for a negotiations is always a good time spent. You’ll feel more confident when the presentation of your case if have a list of points to discuss ahead of time.
Here are a few examples of what you might consider including in your salary negotiation:
- Training and certification
- Years of relevant experience
- The results and accomplishments
- A unique set of skills and characteristics (e.g. the ability to speak two languages)
- Knowledge of the industry
- Training potential
The idea of keeping a notepad and/or notes handy could aid in conversations, so that one doesn’t miss any important details.
Be confident & concise
During a salary negotiation, it’s important to be confident and clear. Be clear about your experience accomplishments, your job goals and achievements. It’s important to maintain a positive tone throughout this conversation to ensure that your employer feels like you’re not coming across as hostile.
Highlight the tangible results
Simply stating one is driven, hardworking, and goal-oriented might not be enough to create an strong appeal. It is important to present clear and precise data about how your previous positions made a significant difference to companies or how important are certain skills that help an organisation.
Be flexible
If the employer isn’t able to agree to your requested salary or compensation arrangement being flexible and open will allow for discussions. You can inquire about alternative incentive options such as performance-based bonuses or structures instead of Base salary(? ).
You must remain professional throughout the negotiation - no matter how well or not: being too combative or making unreasonable demands could result in an unfavourable outcome for everybody affected.
Practice active listening
Listening is just as important as communicating in these types of conversations. Be attentive to the your counterpart during negotiations. Listen to specific requests and resolving doubts, if necessary, while gently sticking with initial request. The goal is to achieve satisfactory results.
Learn from these discussions and incorporate them into future talks you’re likely to participate in. Applying the advice above goes far in maximizing your chances of achieving positive outcomes that are mutually beneficial.
| Your network is important | Have a chat with friends who have had similar experiences or reaching out through the professional network as well as brainstorming members of professional associations. |
| Make talking points | Education & certification, Years of relevant work experience, results and accomplishments, unique skill set and qualities (e.g. multilingualism) Knowledge of the industry, Training potential |
| Be confident & concise | Speak clearly about your experiences your accomplishments and expectations for the job. Make sure you highlight tangible results. |
| Be flexible | Consider alternative incentives such as bonuses based on performance instead of Base salary (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is just as important as speaking during these kinds of conversations. Consider what 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 salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation plan to be paid for your job. During this process it is possible to discuss not just your salary base, but also benefits like health insurance, retirement plans and much more.
Why why is it important to negotiate salary?
Negotiating your salary could give you a greater financial future as well as show that you’re confident about your worth. It can also help you not leave money on the table.
How soon should I negotiate for a raise?
It’s best to begin negotiating after receiving an offer so everyone is aware of what is being negotiated. Then, the negotiations are focused on securing optimal terms and avoid unpleasant surprises.
What happens if I am satisfied with the deal I received without negotiation?
If you receive an offer and are happy with the offer, then there’s no need to discuss it. But it’s important to be clear about what employers will provide regarding things such as compensation for training or performance-based bonuses.
Do I have the option of negotiating my salary when switching careers completely?
Negotiating salary when you change career paths can require extra preparation because your past experiences might not translate or relate to the new duties. Learn about the salaries similar to those in similar fields offer to have a clear understanding of realistic expectations for yourself, in light of the particular circumstances you face.
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