How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it requires you to balance what you believe you’re worth with what an employer thinks they’re able to pay. If it’s done right it could be positive for both parties that results in a higher pay for the employee and a greater satisfaction for the employees in their work. Learn how to negotiate your salary with confidence.
Principal Takeaways
- Before you make a salary offer, research market rates and industry standards to confirm that your salary proposal is realistic.
- Find out information by connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Plan your talk points ahead of the time, including education and accreditation as well as years of relevant experience, the results and achievements and unique skills qualifications, industry knowledge and potential for training.
- During the negotiation, be assured and confident but remain flexible and open. Highlight tangible results that you’ve achieved in your previous positions.
- Keep a positive and upbeat tone throughout the conversation, and make sure you are listening actively.
Do your research
Before you begin any salary negotiation, it’s important to conduct a thorough investigation of current market rates and industry standards to make sure that your salary proposal is realistic. Some factors that can affect the amount you are offered could be your experience degree, size of the company as well as location. (?). One great way to gather information is through networking with your colleagues or those in your chosen job field.
Research Online
With the help of some online resources such as [LinkedIn SalaryWith the help of some online resources like [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 about current market rate plus few other elements that are related to the job.
Your Network is Vital
Learn more by talking to people who have had similar positions, or contacting them through the professional networks and brainstorming with members of professional associations.
Plan Talk points
Preparing for a negotiation is always time well spent. You’ll be more confident in giving your argument if you have a clear set of talking points outlined ahead of time.
Here are a few suggestions of items you might consider to include in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Achievements and results
- A unique set of skills and characteristics (e.g. language proficiency,)
- Industry knowledge
- Training potential
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure that one doesn’t miss any important information.
Be confident & concise
In a negotiation for a salary It is important to be confident and clear. Make sure you are clear about your past experiences, achievements and job expectations. It’s important to maintain your tone of voice positive throughout the conversation so that the employer doesn’t feel like you’re coming across as unfriendly.
The Key to Tangible Results
Simply stating that one is driven, hardworking, and aspire-driven person may not be enough to create an impressive appeal. Make sure to provide precise statistics about how your previous positions made a an impact in the workplace or what are the most valuable skills that benefit the organization.
Stay flexible
If your employer cannot agree to your salary or compensation plan in full, remaining flexible and open-minded will help open the door to discussions. You could ask about alternative rewards, like performance-based bonus arrangements instead of Base salary(? ).
Keep your cool throughout the negotiation process - regardless of how well or badly it’s going being too combative or imposing unreasonable demands could cause a negative result for all parties who is involved.
Practice active listening
Listening is just as important as communicating in these types of conversations. Pay attention to other party during negotiations hearing the amount requested carefully and clarifying doubts as much as you can while remaining in the spirit of your their original request. Both parties should ultimately arrive at acceptable outcomes.
Learn from these conversations and incorporate it into any future negotiations you’ll likely take part in. Following the tips above goes an enormous way to increasing the chance of achieving positive outcomes that are mutually beneficial.
| Your network is important | Contact friends and acquaintances who have been in similar positions or reaching out through professional networks and brainstorming with members of professional associations. |
| Create Talk points | Certification and education, Years of relevant work experience, results and achievements, Unique skill set and qualities (e.g. the ability to speak two languages) Know-how in the field, Potential for training |
| Be confident & concise | Talk clearly about your personal experiences as well as your achievements and expectations. Use tangible results to highlight your achievements. |
| Be flexible | Ask about alternative incentives like performance-based bonus structures instead of Base salary (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as speaking during these kinds of conversations. You can take the lessons you’ve learned from these discussions and incorporate them into the future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is the concept of salary negotiation?
It is the act of negotiating and deciding on the compensation package to be paid for your job. In this negotiation you are able to discuss more than only your base salary but also benefits like health insurance, retirement plans as well as other benefits.
Why why is it important to discuss salary?
Negotiating your salary could give you a more secure financial future as well as indicate that you’re confident about your worth. It will also allow you to keep money off the table.
How soon should I negotiate the salary?
It is best to begin negotiations immediately after receiving an offer so everyone is aware of what is being negotiated. This way, the negotiations will be focused on securing perfect terms while avoiding unexpected unpleasant surprises.
What happens if I am satisfied with the offered package without negotiating?
If you accept an offer and are happy with it, there’s no reason to bargain. It’s nevertheless important to provide clear information about what employers will provide with regards to things like performance-based bonuses or career-training reimbursements.
Can I negotiate my salary if I change careers entirely?
The negotiation of salary for changing career paths may require added planning because your prior experiences may not be directly applicable or be a part of the new job. Learn about the salaries similar to those in similar fields offer to have a clear idea of what realistic expectations are for you, considering your specific circumstances.
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