How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it involves balancing what believe you’re worth with what an employer thinks they’re able to afford. But, if it’s done correctly it can be a positive experience for both sides that results in a higher pay for the employee and greater engagement of the employee in their job. Here’s how you can make your salary negotiation a success.
The most important takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure that your salary proposal is realistic.
- Find out information by the networking of 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 the time, including education and certificates, years of relevant experience, the results and achievements, unique skill set & qualities, industry knowledge, and training opportunities.
- During negotiations, be assertive and confident, yet flexible and open. Highlight tangible results that you’ve achieved in your previous roles.
- Maintain a positive tone throughout the conversation, and be active in your listening.
Do your research
Before you begin any pay negotiation, it’s crucial to conduct a thorough study of standard industry rates and market rates to make sure your salary offer is reasonable. Some factors that can affect this include levels of experience levels, the size of your company and geographical location. (?). A great method of gathering information is through networking with your colleagues or those within your job field.
Research Online
With the aid of online resources such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https http://www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. Htm) you can get an additional perspective on the range of benchmarking salaries companies pay for the same job. This gives you an idea of the market rates and other elements that are related to the position.
Your Network Is Vital
Gain insight by speaking to colleagues who have been in similar positions, or contacting them through professionals networks and brainstorming with members of professional associations.
Prepare Talk points
Preparing for a meeting is time well spent. You’ll feel much more confident when giving your argument if you are prepared with a specific set of talking points outlined ahead of time.
Here are some suggestions of items you might consider to include in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Achievements and results
- Particular skill set and traits (e.g. the ability to speak two languages)
- Knowledge of the industry
- Potential for training
Notes and notebooks can assist during conversations to ensure that you don’t miss any important information.
Be confident & concise
During a salary negotiation, it’s important to be confident and clear. Make sure you are clear about your past experiences accomplishments, your job goals and achievements. It’s important to maintain an optimistic tone throughout the conversation to ensure that your employer isn’t coming across as hostile.
Highlight Tangible Results
Simply stating that someone is ambitious, hardworking, and goal-oriented might not be enough to generate an strong appeal. Make sure to provide precise statistics about how your previous positions made a significant difference to companies or how important are certain capabilities that benefit the organization.
Stay flexible
If the employer isn’t able to your salary request or compensation plan in full being flexible and open will allow for dialogue. You can inquire about alternative rewards, like performance-based bonus arrangements instead of the Base salary(? ).
You must remain professional throughout the negotiation process no matter how well or not: being too combative or imposing unreasonable demands will likely have a negative impact for all parties involved.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Be attentive to the your counterpart during negotiations. Listen to specific requests and resolving doubts as much as you can while keeping to the original request. Ultimately both parties should arrive at acceptable outcomes.
Learn from these conversations and apply it to future talks you’re likely to participate in. By following the suggestions above, you will go an enormous way to increasing your chances of achieving mutually beneficial outcomes.
| Your network is important | Speak to friends who’ve held similar roles or reach out to the professional network as well doing brainstorming members within professional organizations. |
| Plan Talk points | Certification and education, Years of relevant experience, Performance and achievements, unique ability and traits (e.g. multilingualism) and industry knowledge. Training potential |
| Be confident & concise | Talk clearly about your personal experiences as well as your achievements and expectations. Make sure you highlight tangible results. |
| Keep your mind open | You can inquire about alternative incentives such as incentive structures based on performance rather than Base salary (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important in these types of conversations. Take what you have learned from these discussions and incorporate them into the future discussions you’ll likely be involved in. |
Are you ready for your next career shift? Go through out Adelaide Resume Writing Services ‘s services today!
Frequently Asked Questions
What is the concept of salary negotiation?
Negotiating salary is negotiating and finalizing the compensation package for a particular job. In this negotiation it is possible to discuss not just your salary base, but also other benefits like retirement plans, health insurance and much more.
Why is it necessary to discuss salary?
Negotiating your salary can give you a better financial future and also show that you know your worth. It also helps you avoid leaving money on the table.
What is the best time to negotiate a salary?
It is best to begin negotiations immediately after receiving an offer so that all parties are conscious of what’s being discussed. In this way, negotiations are focused on securing optimal terms and avoid unpleasant surprises.
What happens if I am completely satisfied with the offered package without any negotiation?
If you accept an offer and are content with it, there’s no reason to discuss it. It’s nevertheless important to communicate clearly what employers will provide in terms of things like rewards based on performance or reimbursements for career training.
Can I negotiate my salary if changing careers?
The negotiation of salary for changing career paths could require additional preparation due to the fact that your previous experience might not directly translate or encapsulate new responsibilities. Find out what similar jobs in similar industries pay in order to get a solid knowledge of the realistic expectations you can set for yourself, in light of the specific circumstances.
Are you ready for your next career move? Take a look at the services of our Adelaide Resume Writing Services ‘s services today!
