How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it is about balancing what you believe you’re worth with the amount an employer believes they’re able to afford. If it’s done right it could be a positive experience for both parties that results in a higher salary for the employee, as well as greater employee engagement in their work. Here’s how you can make your salary negotiation a success.
Important Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to ensure that your salary offer is fair.
- Find out information by connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Make a list of talking points ahead time, including education & certificates and years of relevant experiences, achievements and results and unique skills qualifications, industry knowledge and the potential for further training.
- During negotiations, be assertive and confident, yet flexible and open-minded. Show tangible results that you’ve had in your previous positions.
- Keep a positive and upbeat tone throughout the conversation and engage in active listening.
Do your research
Before you enter any salary negotiation, you need to conduct a thorough study of current market rates and industry standards to make sure your salary offer is reasonable. Things that may affect this could include experience level, company size, and location (?). One great way to gather data is to connect with colleagues and others within your job field.
Research Online
With the help of online resources, such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. Htm) you can obtain a more comprehensive information about the range of benchmarking salaries that companies offer for the exact role which will gives you an idea of the market rate and a few other factors related to a job.
Your Network is Vital
Find out more about your situation by talking with acquaintances who have had similar positions or reaching out via the professional networks in addition to brainstorming professionals in professional organizations.
Create Talk points
Preparing for any negotiation is always time well spent. You’ll be more confident in the presentation of your case if have a set of talking points outlined in advance.
Here are some suggestions of things that you may want to consider including in your salary negotiation:
- Education and certification
- Years of relevant experience
- Performances and results
- A unique set of skills and characteristics (e.g. bilingualism)
- Knowledge of the industry
- Potential for training
A notepad or notebook can be helpful during conversations so that one doesn’t miss any important points.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and articulate. Speak clearly about your experiences of accomplishments and your expectations. It’s important to maintain an optimistic tone throughout the conversation to ensure that your employer isn’t coming across as insecure.
Highlight the tangible results
Simply stating that someone is committed, hardworking, and goal-oriented may not be enough to make an impactful appeal. It is important to present clear and precise data about how your previous positions made a distinction in businesses or how valuable are specific abilities that can benefit an organization.
Stay flexible
If your employer isn’t able to your salary or compensation plan in full being flexible and open can allow room for dialog. You can inquire about alternatives to incentives, such as performance-based bonus arrangements instead of the Base salary(? ).
Keep your cool throughout the negotiation - no matter how well or poorly it’s going: getting too defensive or imposing unreasonable demands is likely to cause a negative result for all parties who is involved.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Listen attentively from the any other participant during negotiations, observing requests carefully and clarifying doubts, if necessary, while remaining in the spirit of your original request. The goal is to come out with acceptable results.
Consider the lessons you’ve learned from these discussions and incorporate it into the next negotiations you’ll likely take part in. Applying the advice above goes a long way towards maximizing your chances of achieving an agreement that is mutually beneficial.
| Your network is important | Speak to friends who have been in similar positions or reach out to professional networks and brainstorming with members within professional organizations. |
| Make talking points | Education & certification, Years of relevant experience, Results and accomplishments, Unique ability and traits (e.g. bi-lingualism) and industry knowledge. Potential for training |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Highlight Tangible Results. |
| Stay flexible | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary. (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial in these types of conversations. Consider what you’ve learned from these discussions and incorporate them into 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 plan to be paid for your job. When you negotiate this, you can discuss not only the base salary, but also additional benefits such as health insurance, retirement plans and much more.
Why why is it important to negotiate salary?
Negotiating your pay can provide you a more secure financial future as well as show that you know your worth. It will also allow you to avoid leaving money on the table.
When should I start negotiating my salary?
It’s best to begin negotiating immediately after receiving an offer so that all parties are aware of what is being negotiated. This way, the negotiations are focused on securing ideal terms while avoiding surprises.
What happens if I am completely satisfied with the offer with no negotiation?
If you get an offer and you are satisfied with it, there’s probably no need to negotiate. It’s nevertheless important to have transparent communication about what employers will provide in the form of performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when changing career paths entirely?
Negotiating salary when you change career paths may require added planning because your prior experience might not directly translate or overlap with new responsibilities. Learn about the salaries similar to those in related fields offer to have a clear comprehension of realistic expectations for you, based on your specific circumstances.
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