How to Negotiate Salary for Your Next Career Move
A salary negotiation can be a difficult conversation, as it requires you to balance what you consider your worth and what the employer thinks they’re able to afford. But, if it’s done correctly it can be positive for both sides that results in a higher pay for the employee as well as greater satisfaction for the employees in their work. Learn how to negotiate your salary with confidence.
Important Takeaways
- Before you negotiate your salary study market rates and industry standards to ensure your salary proposal is realistic.
- Gather information through networking with colleagues, using websites like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of time, including education and certification as well as years of relevant knowledge, accomplishments and achievements, unique skill set & abilities, industry expertise, and training potential.
- In the course of negotiations, you should be confident and articulate but also flexible and open-minded. You should highlight tangible results you’ve achieved in your previous positions.
- Keep a positive and upbeat tone throughout the conversation and practice active listening.
Do your research
Before you enter any salary negotiation, you need to conduct thorough research on current market rates and industry standards to make sure your salary offer is reasonable. Things that may affect this include the level of experience, degree, size of the company and geographical location. (?). Another great method to gather information is to network with colleagues or other professionals in your chosen area of work.
Research Online
With the help of some online resources, such as [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. http://www.salaries.com/index.html) you will get a an extensive view of the benchmarking range of salary businesses are providing for same job. This gives you an idea of current market rate and a few other facets of the job.
Your Network is Vital
Find out more about your situation by talking with friends who have held similar positions or reaching out through professionals networks as well doing brainstorming professionals in professional organizations.
Prepare Talking points
The time spent in preparing for a negotiation is always time well spent. You’ll be much more confident when presenting your case if you have a clearly defined outline of your talking points ahead of time.
Here are a few suggestions of items you may want to consider when negotiating your salary:
- Certification and education
- Experience gained through years of relevant work
- Achievements and results
- Unique set of skills and attributes (e.g. the ability to speak two languages)
- Know-how in the field
- 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
During a salary negotiation, it’s important to be confident and articulate. Be clear about your experience of accomplishments and your expectations. It is important to keep an optimistic tone throughout the dialogue so that the employer isn’t seeming unfriendly.
The Key to Tangible Results
Simply stating that someone is driven, hardworking, and goal-oriented might not be enough to generate an appealing appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made difference in companies or the value of specific skills that can benefit an organization.
Stay flexible
If your employer isn’t able to agree to your salary request or compensation package, remaining flexible and open-minded can help create space for discussions. You may be able to ask for alternatives to incentives, such as performance-based bonus structures, instead of the Base salary(? ).
You must remain professional throughout the negotiation - regardless of how successfully or poorly it’s going getting too defensive or imposing unreasonable demands will likely cause a negative result for everyone affected.
Practice active listening
Listening is just as important as communicating in these types of conversations. Listen attentively from the another party while you negotiate, listening to the specific requests and resolving doubts, if necessary, while maintaining the initial request. The goal is to be able to reach a satisfactory conclusion.
Take what you have learned from these discussions and apply it to future negotiations you’ll likely take part in. Applying the advice above goes a long way towards maximizing the chances of achieving an agreement that is mutually beneficial.
| Your Network is Important | Contact friends and acquaintances who have been in similar positions or connect with professional networks as well doing brainstorming members of professional associations. |
| Prepare Talk points | Certification and education, Years of relevant experience, Performance and achievements, unique ability and traits (e.g. bi-lingualism), Industry knowledge, Potential for training |
| Be confident & concise | Talk clearly about your personal experiences accomplishments, job goals and achievements. Make sure you highlight tangible results. |
| Remain flexible | Ask about alternative incentives like the performance-based bonuses instead of Base salary (?). Keep your professional conduct during the negotiation process. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. Learn from these conversations and apply it to future discussions you’ll likely be involved in. |
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Frequently asked questions
What is the concept of salary negotiation?
The process involves discussing and deciding on the compensation package to be paid for your job. In this negotiation, you can discuss not only the base salary, but also additional benefits such as health insurance, retirement plans as well as other benefits.
Why why is it important to discuss salary?
Negotiating your salary can give you a better financial outlook and show you’re aware of what you’re worth. It also helps you avoid putting money on the table.
When should I start negotiating the salary?
It is ideal to begin negotiations following the acceptance of an offer to ensure everyone is conscious of what’s being discussed. So, negotiations will be focused on securing perfect terms while avoiding unexpected surprises.
What if I am happy with the offer without any negotiation?
If you accept an offer and are happy with it, then there’s no reason to negotiate. It’s nevertheless important to communicate clearly what employers will provide in the form of rewards based on performance or reimbursements for career training.
Can I negotiate salary when switching careers completely?
Negotiating your salary after changing careers may require more training because your previous work experience might not directly translate or encapsulate new responsibilities. Research what similar roles in similar industries pay to gain a robust idea of what realistic expectations are for you, based on your particular situation.
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