How to Negotiate Salary for Your Next Career Move
Negotiating your salary is a difficult conversation, as it involves balancing what you believe you’re worth with what the employer thinks they can afford. If it’s done right it can be positive for both sides that results in a higher pay for the employee and greater employee engagement in their work. Here’s how to negotiate your salary with confidence.
Important Takeaways
- Before you make a salary offer, research market rates and industry standards to ensure your salary offer is fair.
- Collect information through networking with colleagues, using online resources like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead time, including education and certification, years of relevant experiences, achievements and results with a unique set of skills and capabilities, knowledge of the industry, and training opportunities.
- During the negotiation, be assertive and confident, yet flexible and open-minded. 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 you begin any negotiations regarding salary, it’s essential to do thorough research on the market and standards in the industry to make sure your salary offer is realistic. Some factors that can affect this could include the level of experience, level, company size, and location (?). A great method of gathering data is to connect with colleagues or other professionals in your chosen job field.
Research Online
With the help of internet-based resources like [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 more substantial approach towards the benchmarking range of salary that companies offer for the exact job. This gives you an idea of the market rate and a few other aspects related to an employment.
Your Network is Important
Gain insight by speaking to people who have had similar positions, or contacting them through professional networks as well as brainstorming professionals in professional organizations.
Create Talking points
The time spent in preparing for a negotiation is always time well spent. You’ll feel more confident when making your case if you have a clearly defined outline of your talking points prior to the time.
Here are a few examples of things you may want to consider during your salary negotiation:
- Education and certification
- Years of relevant experience
- Results and achievements
- Particular skill set and traits (e.g. bilingualism)
- Knowledge of the industry
- 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 crucial to appear confident and articulate. Make sure you are clear about your past experiences of accomplishments and your expectations. It’s essential to maintain a positive attitude throughout this conversation so that the employer isn’t appearing to be unfriendly.
Highlight the tangible results
Simply stating one is determined, hardworking and goal-oriented may not be enough to generate an impactful appeal. It is important to present clear and precise data about how your previous positions made a difference in companies or how important are certain capabilities which benefit organisation
Stay flexible
If your employer isn’t able to agree to your requested salary or compensation package being flexible and open will help open the door to dialogue. It is possible to inquire about alternative incentive options such as performance-based bonuses or structures, instead of the Base salary(? ).
Keep your cool throughout the negotiation - regardless of how smoothly or poorly it’s going Being too aggressive or making unreasonable demands could lead to a negative outcome for everybody that is.
Practice active listening
Listening is as crucial as speaking during these kinds of conversations. Pay attention to your counterpart during negotiations. Listen to the amount requested carefully and clarifying doubts as much as you can while keeping to the their original request. Ultimately both parties should 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 a long way towards maximizing your chances of reaching positive outcomes that are mutually beneficial.
| Your network is important | Talk to your friends who have had similar experiences or reaching out through the professional network in addition to brainstorming members within professional organizations. |
| Make talking points | Training and certification, years of relevant experience, Results and accomplishments, Unique skill set and qualities (e.g. multilingualism) Know-how in the field, Potential for training |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Make sure you highlight tangible results. |
| Be flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary. (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. Consider what you’ve learned from these discussions and apply it to future negotiations that you’re likely to take part in. |
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Frequently Asked Questions
What is salary negotiation?
The process involves negotiating and deciding on the compensation plan for a particular job. In this negotiation you will be able to discuss not only your base salary but also other benefits, such as health insurance, retirement plans, and more.
Why is it so important to discuss salary?
Negotiating your salary could give you a more secure financial future and show you know your worth. It also helps you keep money off the table.
How soon should I negotiate the salary?
It is recommended to begin negotiations immediately after receiving an offer so that everyone is aware of what is being discussed. Then, the negotiations will be focused on securing ideal terms while avoiding unpleasant surprises.
What happens if I am satisfied with the package I was offered without negotiating?
If you receive an offer and are pleased with the offer, then there may be no need to discuss it. However, it’s essential to have transparent communication about what employers will provide with regards to things like performance-based bonuses or career-training reimbursements.
What is the best way to negotiate my salary? switching careers completely?
The negotiation of salary for changing career paths may require added training because your previous work experiences may not be directly applicable or be a part of the new job. Study what similar positions in similar industries pay, to develop a thorough idea of what realistic expectations are for you, considering the particular circumstances you face.
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