How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it involves balancing what you consider your worth and the amount an employer believes they’ll be able to afford. However, if done correctly it can result in positive for both parties, resulting in a higher salary for the employee and greater engagement of the employee in their job. Here’s how to negotiate your salary confidently.
Important Takeaways
- Before you make a salary offer study market rates and industry standards to ensure that the salary you request is reasonable.
- Gather information through networking with colleagues, using online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education & accreditation, years of relevant experience, results & achievements, unique skill set & capabilities, knowledge of the industry, and the potential for further training.
- During negotiations, be assured and confident but remain flexible and open. You should highlight tangible results you’ve had in your previous roles.
- Keep a positive and upbeat tone throughout the conversation and practice active listening.
Do your research
Before entering into any salary negotiation, you need to conduct thorough research on the market and standards in the industry to make sure that your salary proposal is reasonable. Factors that might impact this may include levels of experience level, company size as well as location. (?). One way to gather data is to connect with your colleagues or those within your area of work.
Research Online
With the help of some online resources such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https http://www. linkedin. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) You can find a an extensive view of the benchmarking range of salary businesses are providing for same job. It will provide you with an idea about current market rate and a few other aspects related to the position.
Your Network is Vital
Find out more about your situation by talking with people who have had similar roles or reaching out through professionally-oriented networks as well as brainstorming professionals in professional organizations.
Create Talking points
Preparing for a meeting is time well spent. You’ll feel much more confident when presenting your case if you are prepared with a specific set of talking points outlined in advance.
Here are some suggestions of items you might want to think about during your salary negotiation:
- Education & certification
- Years of relevant experience
- Performances and results
- Unique skill set and qualities (e.g. the ability to speak two languages)
- Knowledge of the industry
- Potential for training
A notepad or notebook can also help during conversations so it is not lost important details.
Be confident & concise
When you negotiate your salary it’s crucial to appear confident and articulate. Be clear about your experience of accomplishments and your expectations. It’s essential to maintain an optimistic tone throughout the discussion so that the employer feels like you’re not being insecure.
Highlight the tangible results
Simply saying that you are committed, hardworking, and goal-oriented may not be enough for an impressive appeal. So put forward clear statistics about how your previous positions made a difference in companies or how important are certain skills that help an organisation.
Stay flexible
If the employer cannot agree to your salary or compensation arrangement being flexible and open will help open the door to dialogue. You can inquire about alternative incentives like performance-based bonus models instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process regardless of how smoothly or not: being too combative or making unreasonable demands can cause a negative result for everybody involved.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Do listen actively from any other participant during negotiations, observing the amount requested carefully and clarifying questions if needed, but gently sticking with initial request. The goal is to be able to reach a satisfactory conclusion.
Take what you have learned from these discussions and incorporate them into future discussions you’ll probably be involved in. The tips mentioned above will go an enormous way to increasing the chance of achieving positive, mutually beneficial results.
| Your Network is Important | Have a chat with friends who have had similar experiences or connect with networking networks for professionals as well doing brainstorming members within professional organizations. |
| Prepare talking points | Education & certification, Years of relevant experience, Results and achievements, unique abilities and skills (e.g. multilingualism) and industry knowledge. Training potential |
| Be confident & concise | Talk clearly about your personal experiences as well as your achievements and expectations. Use tangible results to highlight your achievements. |
| Keep your mind open | Ask about alternative incentives like bonuses based on performance instead of Base salary (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial as communicating in these kinds of conversations. Take what you have learned away from these conversations and incorporate them into future conversations you’ll probably be involved in. |
Are you ready for your next job shift? Take a look at out Broken Hill Resume ‘s services today!
Frequently Answered Questions
What is the concept of salary negotiation?
Salary negotiation is the process of negotiating and deciding on the compensation package to be paid for your job. When you negotiate this you are able to discuss more than just the salary you earn, but also other benefits like health insurance, retirement plans and many more.
Why is it necessary to discuss salary?
Negotiating your salary could give you a better financial future and also show that you know your worth. It also helps you keep money off the table.
When should I begin to negotiate my salary?
It is recommended to begin negotiations immediately after receiving an offer so that everyone is aware of the terms being discussed. This way, the negotiations are focused on securing perfect terms while avoiding unexpected unintentional surprises.
What if I am content with the offer without negotiation?
If you accept an offer and you are satisfied with it, there’s probably no need to discuss it. But it’s important to have transparent communication about what the employers are willing to offer in terms of things like compensation for training or performance-based bonuses.
Do I have the option of negotiating my salary when switching careers completely?
Salary negotiation when changing career paths could require additional planning because your prior experiences may not be directly applicable or be a part of the new job. Study what similar positions in similar fields pay to gain a robust knowledge of the realistic expectations you can set for you, based on your particular situation.
Are you ready for your next job move? Go through out Broken Hill Resume ‘s services today!
