How to Negotiate Salary for Your Next Career Move
A salary negotiation is a difficult conversation, as it involves balancing what consider your worth and what the employer thinks they’re able to pay. If done properly, it can be positive for both the employer and employee, which results in a greater salary for the employee and greater employees’ engagement in their jobs. Learn how to make your salary negotiation a success.
The most important takeaways
- Before you negotiate your salary, research market rates and industry standards to ensure that your salary request is realistic.
- Collect information through connecting with colleagues through 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 & certification and years of relevant experiences, achievements and results as well as unique skill sets and qualifications, industry knowledge and training potential.
- During the negotiation, be confident and clear, but be flexible and open-minded. You should highlight tangible results you’ve had in your previous roles.
- Keep a positive attitude throughout the conversation, and engage in active listening.
Do your research
Before you begin any salary negotiation, it’s important to conduct thorough research on the market and standards in the industry to ensure that your salary request is realistic. Things that may affect the amount you are offered could be levels of experience level, company size, and location (?). One way to gather data is to connect with colleagues or others who are in the same area of work.
Research Online
With the help of online sources, like [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) You can find a an additional perspective on the salary range that benchmarking that companies offer for the exact role which will gives you an idea of current market rates and other facets of an employment.
Your Network Is Essential
Gain insight by speaking to people who have had similar roles, or reaching out through professionals networks and brainstorming with members of professional organizations.
Make Talk points
Preparing for a negotiation is always well spent. You’ll feel more confident when presenting your case if you have a set of talk points that you have outlined in advance.
Here are a few ideas of things you may want to consider including in your salary negotiation:
- Certification and education
- Years of relevant experience
- The results and accomplishments
- Unique skill set and qualities (e.g., bilingualism)
- Know-how in the field
- Potential for training
A notepad or notebook can be helpful during conversations so that one doesn’t miss any important details.
Be confident & concise
In a salary negotiation, it’s important to be confident and clear. Make sure you are clear about your past experiences of accomplishments and your expectations. It’s essential to maintain a positive tone throughout this discussion so that the employer isn’t seeming insecure.
Highlight Tangible Results
Simply stating one is driven, hardworking, and aspire-driven person may not be enough for an appealing 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 that benefit the organization.
Stay flexible
If your employer isn’t able to your salary or compensation plan in full Being flexible and open will allow for discussions. You may be able to ask for alternative incentives like performance-based bonus models instead of the Base salary(? ).
Be sure remain professional during the negotiation process - regardless of how well or not: Being too aggressive or imposing unreasonable demands could lead to a negative outcome for everybody involved.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Do listen actively from another party while you negotiate, listening to the requests carefully and clarifying doubts if at all while keeping to the what you originally requested. In the end, both parties must be able to reach a satisfactory conclusion.
Take what you have learned from these discussions and incorporate it into the next negotiations you’ll likely take part in. The tips mentioned above will go an enormous way to increasing the chances of achieving positive, mutually beneficial results.
| Your Network is Important | Contact friends and acquaintances who have been in similar positions or reaching out through professionally-oriented networks in addition to brainstorming members of professional associations. |
| Prepare talking points | Education & certification, Years of relevant experience and achievements, unique skill set and qualities (e.g. bi-lingualism) Knowledge of the industry, Potential for training |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Make sure you highlight tangible results. |
| Remain flexible | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is as crucial as speaking during these kinds of conversations. Consider what you’ve learned away from these conversations and incorporate them into the future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation package for a position. Through this process, you can discuss not only your base salary but also other benefits, such as retirement plans, health insurance and much more.
Why why is it important to bargain on salary?
Negotiating your salary could give you a better financial outlook and show you know your worth. It also helps you keep money off the table.
How soon should I negotiate the salary?
It is ideal to begin negotiations after you have received an offer, so that everyone is aware of the terms being negotiated. In this way, negotiations will focus on securing ideal terms while avoiding surprise.
What if I am happy with the package I was offered without negotiating?
If you receive an offer and are content with it, there may be no need to negotiate. It’s nevertheless important to have transparent communication about what the employers are willing to offer with regards to things like compensation for training or performance-based bonuses.
Do I have the option of negotiating my salary when changing careers?
Negotiating your salary after changing career paths could require additional planning because your prior experiences might not translate or be a part of the new job. Study what similar positions in related industries pay in order to get a solid knowledge of the realistic expectations you can set for you, based on the particular circumstances you face.
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