How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it requires you to balance what you consider your worth and what an employer thinks they’re able to afford. But, if it’s done correctly it could be an enjoyable experience for both the employer and employee, which results in a higher salary for the employee and a greater employees’ engagement in their jobs. Here’s how to negotiate your salary with confidence.
Important Takeaways
- Before you negotiate your salary study market rates and industry standards to make sure that your salary offer is fair.
- Collect information through socializing with colleagues, using online resources like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Create talking points ahead of the time, including education and accreditation, years of relevant experience, results & achievements with a unique set of skills and qualities, industry knowledge, and training potential.
- During negotiations, be confident and clear, but be flexible and open-minded. Highlight tangible results that you achieved in your previous positions.
- Keep a positive and upbeat tone throughout the conversation and engage in active listening.
Do your research
Prior to entering any salary negotiation, it’s important to conduct a thorough investigation of market rates and industry standards to ensure that your salary request is reasonable. Some factors that can affect this could include experience level, company size and the location of the company. (?). One way to gather information is through networking with your colleagues or those in your chosen profession.
Research Online
Utilizing 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 [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. Htm) You can find a an extensive view of the benchmarking range of salaries businesses pay for the same role which will gives you an idea of the current market rate plus few other elements that are related to the job.
Your Network is Vital
Get insight from talking to people who have had similar positions, or contacting them via professionally-oriented networks in addition to brainstorming members of professional organizations.
Plan Talking points
Preparing for a meeting is time well spent. You’ll be more confident in presenting your case if you have a clear set of talking points outlined prior to the time.
Here are some examples of things you might consider during your salary negotiation:
- Education & certification
- Years of relevant experience
- Achievements and results
- Unique skill set and qualities (e.g. bilingualism)
- Industry knowledge
- Potential for training
A notepad or notebook can be helpful during conversations so it is not lost important details.
Be confident & concise
When you negotiate your salary it is essential to be confident and articulate. Speak clearly about your experiences of accomplishments and your expectations. It is important to keep your tone of voice positive throughout the discussion so that the employer doesn’t feel like you’re coming across as unfriendly.
Highlight the tangible results
Simply stating one is committed, hardworking, and goal-oriented may not be enough to create an appealing appeal. It is important to present clear and precise data regarding the ways in which previous jobs made significant difference to companies or the value of specific skills which benefit organisation
Remain flexible
If the employer isn’t able to your requested salary or compensation arrangement, remaining flexible and open-minded can allow room for discussions. You could ask about alternative rewards, like performance-based bonus structures instead of Base salary(? ).
Be sure remain professional throughout the negotiation process - regardless of how well or badly it’s going getting too defensive or making unreasonable demands could cause a negative result for everybody who is involved.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Pay attention to other party during negotiations hearing requested amount carefully & clarifying doubts if at all while keeping to the original request. The goal is to be able to reach a satisfactory conclusion.
Consider the lessons you’ve learned from these discussions and incorporate it into the next talks you’re likely to participate in. Applying the advice above goes in the right direction to increase your chances of reaching positive outcomes that are mutually beneficial.
| Your network is important | Contact friends and acquaintances who have had similar experiences or reach out via professional networks and brainstorming with members of professional associations. |
| Create Talk points | Qualifications and training, Years of relevant work experience, results and accomplishments, unique abilities and skills (e.g. the ability to speak two languages), Industry knowledge, Potential for training |
| Be confident & concise | Talk clearly about your personal experiences as well as your achievements and expectations. Make sure you highlight tangible results. |
| Remain flexible | Consider alternative incentives such as performance-based bonus structures instead of Base salary (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is as crucial as communicating during these types of conversations. Consider what you’ve learned from these discussions and incorporate them into future conversations you’ll probably be involved in. |
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Frequently Asked Questions
What is the concept of salary negotiation?
Negotiating salary is discussing and finalizing the compensation package to be paid for your job. When you negotiate this you are able to discuss more than only your base salary but also other benefits like health insurance, retirement plans as well as other benefits.
Why is it necessary to bargain on salary?
Negotiating your salary will give you a better financial future and show you’re confident about your worth. It can also help you keep money off the table.
What is the best time to negotiate for a raise?
It’s best to begin negotiating following the acceptance of an offer to ensure everyone is informed of what’s being negotiated. Then, the negotiations will be focused on securing the best terms, while avoiding any surprises.
What if I am happy with the package I was offered without any negotiation?
If you get an offer and are pleased with it, there’s no reason to negotiate. But it’s important to have transparent communication about what employers will provide regarding things such as the performance-based bonus or career-training reimbursements.
Can I negotiate my salary if changing career paths entirely?
Negotiating salary when you change careers may require more preparation because your past experiences may not be directly applicable or overlap with new responsibilities. Study what similar positions in related industries pay, to develop a thorough idea of what realistic expectations are for yourself, given your specific circumstances.
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