How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an extremely difficult process, since it is about balancing what you think you’re worth versus what your employer believes they’re able to pay. If it’s done right, it can be a positive experience for both sides that results in a higher salary for the employee as well as greater engagement of the employee in their job. Here’s how you can make your salary negotiation a success.
Principal Takeaways
- Before you negotiate your salary, research market rates and industry standards to confirm that your salary proposal is realistic.
- Collect information through connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of time, including education & certification as well as years of relevant knowledge, accomplishments and achievements with a unique set of skills and qualities, industry knowledge, and training potential.
- In the course of negotiations, you should be confident and articulate but also flexible and open-minded. Highlight tangible results that you have achieved in previous roles.
- Maintain a positive tone throughout the conversation, and make sure you are listening actively.
Do your research
Before you begin any salary negotiation, you need to conduct a thorough investigation of standard industry rates and market rates to ensure that your salary request is realistic. Things that may affect this could include experience degree, size of the company and geographical location. (?). One great way to gather information is through networking with colleagues or other professionals who are in the same field of work.
Research Online
With the help of internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a an additional perspective on the benchmarking range of salary that companies offer for the exact job. It will provide you with an idea of the current market rates and other factors related to the job.
Your Network Is Important
Gain insight by speaking to friends who have held similar roles, or reaching out via professionals networks and brainstorming with members of professional organizations.
Create talking points
The time spent in preparing for a negotiations is always a good time spent. You’ll be much more confident in giving your argument if you have a clearly defined outline of your talking points before the deadline.
Here are a few ideas of things that you could consider including in your salary negotiation:
- Education and certification
- Years of relevant experience
- The results and accomplishments
- Particular skill set and traits (e.g. bilingualism)
- Know-how in the field
- Training potential
Also keeping notes/notebook handy can also help during conversations so that you don’t miss any crucial points.
Be confident & concise
In a negotiation for a salary it is essential to be confident and clear. Make sure you are clear about your past experiences of accomplishments and your expectations. It is important to keep an optimistic tone throughout the discussion so that the person who is hiring you feels that you’re not appearing to be aggressive.
Show tangible results
Simply saying that you are driven, hardworking, and goal-oriented might not be enough for an impressive appeal. Therefore, provide clear data regarding the ways in which previous jobs made difference in companies or how important are certain abilities that can benefit an organization.
Stay flexible
If your employer isn’t able to agree to your requested salary or compensation package, remaining flexible and open-minded can help create space for dialog. It is possible to inquire about alternative rewards, like performance-based bonus models instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation - regardless of how well or poorly it’s going: fighting too much or imposing unreasonable demands could cause a negative result for all parties affected.
Practice active listening
Listening is as crucial as communicating during these types of conversations. Do listen actively from another party while you negotiate, listening to the requests carefully and clarifying doubts, if necessary, while remaining in the spirit of your initial request. Both parties should ultimately come out with acceptable results.
Learn from these conversations and incorporate it into the next discussions you’ll probably be involved in. Applying the advice above goes in the right direction to increase your chances of reaching mutually beneficial outcomes.
| Your network is important | Speak to friends who have had similar experiences or connect with networking networks for professionals as well doing brainstorming members of professional associations. |
| Plan talking points | Education & certification, Years of relevant experience and accomplishments, unique skill set and qualities (e.g. bi-lingualism) Know-how in the field, ability to train |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Focus on tangible results. |
| Remain flexible | You can inquire about alternative incentives such as performance-based bonus structures instead of Base salary. (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is equally important as communicating in these kinds of conversations. Consider what you’ve learned from these discussions and incorporate it into any 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 for a position. During this process, you can discuss not just the salary you earn, but also other benefits, such as health insurance, retirement plans as well as other benefits.
Why is it important to negotiate salary?
Negotiating your pay can provide you a better financial outlook as well as indicate that you’re aware of what you’re worth. It also helps you not leave money on the table.
What is the best time to negotiate a salary?
It’s best to begin negotiating immediately after receiving an offer so that everyone is informed of what’s being negotiated. In this way, discussions are focused on negotiating ideal terms while avoiding unintentional surprises.
What if I am happy with the offered package without any negotiation?
If you are offered a job and are content with it, there’s probably no need to bargain. But it’s important to communicate clearly what employers will provide in the form of the performance-based bonus or career-training reimbursements.
Can I negotiate my salary if switching careers completely?
The negotiation of salary for changing career paths may require added planning because your prior experiences might not translate or encapsulate new responsibilities. Find out what similar jobs in similar fields offer to have a clear knowledge of the realistic expectations you can set for you, based on your particular situation.
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