How to Negotiate Salary for Your Next Career Move
A salary negotiation can be difficult to talk about, because it involves balancing what you think you’re worth versus what your employer believes they’re able to afford. If it’s done right it can result in positive for both the employer and employee, which results in a higher salary for the employee and greater engagement of the employee in their job. Here’s how to negotiate your salary with confidence.
Principal Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to ensure your salary request is realistic.
- Collect information through socializing with colleagues, using online tools like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Create talking points ahead of time, including education & certification as well as years of relevant experience, results & achievements with a unique set of skills and qualities, industry knowledge, and potential for training.
- In the course of negotiations, you should be confident and articulate but also flexible and open. Highlight tangible results that you achieved in your previous positions.
- Keep a positive attitude throughout the conversation, and engage in active listening.
Do your research
Before you begin any negotiations regarding salary, it’s essential to do thorough research on the market and standards in the industry to ensure that your salary request is reasonable. Factors that might impact the amount you are offered could be your experience level, company size, and location (?). Another great method to gather information is to make connections with colleagues or others who are in the same field of work.
Research Online
With the aid of online resources such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https: //www. linkedin. https://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a more substantial approach towards the benchmarking range of salaries businesses are providing for same job. This gives you an idea of the current market rates and other aspects related to a job.
Your Network Is Vital
Get insight from talking to acquaintances who have had similar roles or reaching out through professionals networks and brainstorming with members within professional organizations.
Plan Talking points
Preparing for a meeting is time well spent. You’ll feel more confident when presenting your case if you are prepared with a specific set of talking points outlined in advance.
Here are some examples of things you might consider during your salary negotiation:
- Education & certification
- Years of relevant experience
- Results and achievements
- Particular skill set and traits (e.g. bilingualism)
- Industry knowledge
- Training potential
The idea of keeping a notepad and/or notes handy could also help during conversations so that you don’t miss any important information.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and articulate. Make sure you are clear about your past experiences as well as your achievements and expectations for the job. It’s essential to maintain a positive attitude throughout this discussion so that the person who is hiring you feels that you’re not seeming insecure.
Highlight Tangible Results
Simply stating that one is determined, hardworking and aspire-driven person may not be enough for an impressive appeal. So put forward clear statistics regarding how prior roles have made a significant difference to companies or how valuable are specific skills that benefit the organization.
Remain flexible
If your employer isn’t able to your salary or compensation package, remaining flexible and open-minded can allow room for discussion. You could ask about alternative rewards, like performance-based bonus models instead of Base salary(? ).
You must remain professional throughout the negotiation process regardless of how well or poorly it’s going: being too combative or imposing unreasonable demands could result in an unfavourable outcome for everybody affected.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Pay attention to any other participant during negotiations, observing specific requests and resolving doubts if at all while remaining in the spirit of your initial request. In the end, both parties must arrive at acceptable outcomes.
Consider the lessons you’ve learned from these discussions and incorporate it into any future talks you’re likely to participate in. Following the tips above goes in the right direction to increase the chance of achieving positive, mutually beneficial results.
| Your network is important | Have a chat with friends who have been in similar positions or reach out via the professional network as well doing brainstorming members within professional organizations. |
| Prepare talking points | Training and certification, years of relevant experience and achievements, Unique ability and traits (e.g. multilingualism) and industry knowledge. Training potential |
| Be confident & concise | Be clear about your experience your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Stay flexible | Consider alternative incentives such as the performance-based bonuses instead of Base salary. (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is just as important as speaking during these kinds of conversations. You can take the lessons you’ve learned away from these conversations and apply it to future negotiations you’ll likely take part in. |
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Frequently asked questions
What is the concept of salary negotiation?
The process involves negotiating and deciding on the compensation package for a job. During this process, you can discuss not just your salary base, but also additional benefits such as health insurance, retirement plans as well as other benefits.
Why is it important to negotiate a salary?
Negotiating your salary will give you a greater financial future as well as indicate that you’re confident about your worth. This can help you keep money off the table.
What is the best time to negotiate a salary?
It is recommended to begin negotiations after you have received an offer, so that everyone is informed of what’s being discussed. So, negotiations will be focused on securing the best terms, while avoiding any unpleasant surprises.
What happens if I am completely satisfied with the package I was offered without negotiating?
If you are offered a job and are pleased with it, there’s probably no need to negotiate. However, it’s essential to be clear about what your employer’s expectations regarding things such as performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when I change careers entirely?
Negotiating your salary after changing career paths can require extra preparation because your past experiences may not be directly applicable or be a part of the new job. Research what similar roles in related industries pay to gain a robust knowledge of the realistic expectations you can set for yourself, in light of the particular circumstances you face.
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