How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it requires you to balance what you consider your worth and the amount an employer believes they’re able to afford. If done properly it could be a positive experience for both sides that results in a higher salary for the employee and a greater employees’ engagement in their jobs. Here’s how you can negotiate your salary with confidence.
Key Takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure that your salary proposal is realistic.
- Gather information through networking with colleagues, using online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead time, including education & accreditation, years of relevant knowledge, accomplishments and achievements as well as unique skill sets and abilities, industry expertise, and the potential for further training.
- During the negotiation, you must be assertive and confident, yet flexible and open-minded. Highlight tangible results that you have achieved in previous positions.
- Keep a positive attitude throughout the conversation, and make sure you are listening actively.
Do your research
Before you enter any salary negotiation, you need to do thorough research on market rates and industry standards to ensure that your salary suggestion is reasonable. Things that may affect this may include the level of experience, level, company size and the location of the company. (?). Another great method to gather data is to connect with colleagues or other professionals who are in the same area of work.
Research Online
With the help of online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a an extensive view of the benchmarking range of salary businesses are providing for same job. This will give you an idea about current market rate and a few other aspects related to the job.
Your Network is Important
Get insight from talking to acquaintances who have had similar positions, or contacting them through professionally-oriented networks and brainstorming with professionals in professional organizations.
Create talking points
The time spent in preparing for a negotiation is always well spent. You’ll be much more confident in the presentation of your case if are prepared with a specific outline of your talking points prior to the time.
Here are a few suggestions of items you may want to consider to include in your salary negotiation:
- Education and certification
- Years of relevant experience
- Achievements and results
- Unique set of skills and attributes (e.g. the ability to speak two languages)
- Industry-specific knowledge
- Potential for training
Notes and notebooks can assist during conversations to ensure that you don’t miss any important information.
Be confident & concise
In a salary negotiation it is essential to be confident and clear. Speak clearly about your experiences as well as your achievements and expectations for the job. It is important to keep a positive tone throughout this conversation to ensure that your employer isn’t appearing to be insecure.
Highlight the tangible results
Simply stating that one is ambitious, hardworking, and aspire-driven person may not be enough for an impressive appeal. Make sure to provide precise statistics on how previous roles made an impact in the workplace or what are the most valuable capabilities that benefit the organization.
Remain flexible
If your employer isn’t able to your requested salary or compensation package Being flexible and open will allow for discussions. You can inquire about alternative incentive options such as performance-based bonuses or structures instead of Base salary(? ).
Keep your cool throughout the negotiation process regardless of how successfully or badly it’s going being too combative or imposing unreasonable demands will likely have a negative impact for everyone involved.
Practice active listening
Listening is just as important as communicating during these types of conversations. Listen attentively from the another party while you negotiate, listening to the specific requests and resolving doubts if at all while remaining in the spirit of your what you originally requested. The goal is to achieve satisfactory results.
Take what you have learned from these discussions and incorporate it into the next negotiations you’ll likely take part in. Applying the advice above goes far in maximizing the chances of achieving mutually beneficial outcomes.
| Your Network is Important | Have a chat with friends who have held similar roles or reach out via the professional network in addition to brainstorming members within professional organizations. |
| Plan Talk points | Qualifications and training, Years of relevant experience, Results and accomplishments, Unique skill set and qualities (e.g., bilingualism) Know-how in the field, the potential for training |
| Be confident & concise | Make sure you are clear about your experience accomplishments, job goals and achievements. Use tangible results to highlight your achievements. |
| Keep your mind open | Find out about other incentives, such as bonuses based on performance instead of Base salary (?). Make sure to remain professional during the negotiation. |
| Practice active listening | Listening is just as important as communicating during these types of conversations. You can take the lessons you’ve learned from these conversations and incorporate them into the 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 negotiating and deciding on the compensation plan for a particular job. During this process it is possible to discuss not just the salary you earn, but also other benefits like health insurance, retirement plans as well as other benefits.
Why is it necessary to negotiate salary?
Negotiating your salary could give you a better financial future and also show that you’re confident about your worth. This can help you avoid leaving money on the table.
When should I start negotiating my salary?
It is best to begin negotiations following the acceptance of an offer to ensure that everyone is informed of what’s being discussed. This way, the negotiations will focus on securing the best terms, while avoiding any surprise.
What happens if I am satisfied with the package I was offered without negotiation?
If you get an offer and are content with the offer, then there’s probably no need to negotiate. It’s nevertheless important to provide clear information about what the employers are willing to offer in the form of performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when changing careers?
Negotiating your salary after changing career paths can require extra planning because your prior experiences may not be directly applicable or be a part of the new job. Research what similar roles in related fields pay, to develop a thorough idea of what realistic expectations are for yourself, in light of the particular circumstances you face.
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