How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it involves balancing what you believe you’re worth with what your employer believes they’re able to afford. If done properly it could be positive for both the employer and employee, which results in a greater salary for the employee and a greater employees’ engagement in their jobs. Here’s how you can make your salary negotiation a success.
Key Takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure your salary offer is fair.
- Find out information by networking with colleagues, using online tools like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education & certificates and years of relevant experience, results & achievements, unique skill set & qualifications, industry knowledge and potential for training.
- During the negotiation, be assertive and confident, yet flexible and open. Highlight tangible results that you achieved in your previous roles.
- Keep a positive attitude throughout the conversation, and engage in active listening.
Do your research
Before entering into any salary negotiation, you need to conduct thorough research on market rates and industry standards to ensure that your salary suggestion is realistic. Things that may affect this may include levels of experience levels, the size of your company as well as location. (?). One way to gather data is to connect with colleagues and others within your job field.
Research Online
With the help of internet-based resources like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can get an additional perspective on the benchmarking range of salaries businesses pay for the same job. This gives you an idea of the market rate plus few other aspects related to the job.
Your Network is Important
Learn more by talking to friends who have held similar roles or reaching out via professionally-oriented networks and brainstorming with professionals in professional organizations.
Make Talk points
Time spent preparing for any negotiations is always a good time spent. You’ll feel more confident when presenting your case if you have a clear set of talk points that you have outlined ahead of time.
Here are a few suggestions of items you might consider during your salary negotiation:
- Education and certification
- Years of relevant experience
- Performances and results
- Particular skill set and traits (e.g. the ability to speak two languages)
- Industry-specific knowledge
- Training potential
Also keeping notes/notebook handy can assist during conversations to ensure that one doesn’t miss any important details.
Be confident & concise
When you negotiate your salary it is essential to be confident and articulate. Be clear about your experience, achievements and job expectations. It’s crucial to maintain a positive attitude throughout this discussion so that the person who is hiring you feels that you’re not being aggressive.
Show tangible results
Simply saying that you are determined, hardworking and focused may not be enough to generate an strong appeal. So put forward clear statistics regarding the ways in which previous jobs made difference in companies or the value of specific qualities that benefit the organization.
Keep your mind open
If the employer cannot agree to your salary request or compensation package being flexible and open will help open the door to dialog. You can inquire about alternatives to incentives, such as performance-based bonus models instead of Base salary(? ).
Make sure to remain professional throughout the negotiation process - no matter how well or not: Being too aggressive or making unreasonable demands is likely to have a negative impact for everybody involved.
Practice active listening
Listening is just as important as speaking during these kinds of conversations. Do listen actively from another party while you negotiate, listening to the specific requests and resolving questions if needed, but remaining in the spirit of your original request. Both parties should ultimately arrive at acceptable outcomes.
Take what you have learned away from these conversations and incorporate them into future negotiations you’ll likely take part in. The tips mentioned above will go in the right direction to increase the chances of achieving an agreement that is mutually beneficial.
| Your Network is Important | Contact friends and acquaintances who’ve held similar roles or reaching out through the professional network in addition to brainstorming members of professional associations. |
| Plan Talk points | Qualifications and training, Years of relevant experience and achievements, Unique abilities and skills (e.g., bilingualism) Knowledge of the industry, Potential for training |
| Be confident & concise | Be clear about your experience your accomplishments and expectations for the job. Focus on tangible results. |
| Stay flexible | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. Consider what you’ve learned from these conversations and incorporate them into the future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is salary negotiation?
It is the act of discussing and deciding on the compensation plan for a job. When you negotiate this you are able to discuss more than only the base salary, but also other benefits like health insurance, retirement plans and many more.
Why is it so important to negotiate salary?
Negotiating your salary could give you a better financial future and show you’re aware of what you’re worth. This can help you avoid leaving money on the table.
What is the best time to negotiate for a raise?
It is recommended to begin negotiations after you have received an offer, so that all parties are aware of the terms being discussed. This way, the negotiations will focus on securing optimal terms and avoid surprise.
What if I am content with the deal I received with no negotiation?
If you receive an offer and are pleased with it, then there’s no need to negotiate. But it’s important to be clear about what your employer’s expectations in the form of the performance-based bonus or career-training reimbursements.
Can I negotiate salary when changing careers?
The negotiation of salary for changing career paths could require additional preparation because your past experience might not directly translate or overlap with new responsibilities. Study what similar positions in similar industries pay, to develop a thorough idea of what realistic expectations are for you, based on the specific circumstances.
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