How to Negotiate Salary for Your Next Career Move
A salary negotiation is a difficult conversation, as it requires you to balance what you consider your worth and the amount an employer believes they’ll be able to afford. But, if it’s done correctly it can result in positive for both parties that results in a higher salary for the employee, as well as greater satisfaction for the employees in their work. Here’s how you can negotiate your salary with confidence.
The most important takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to ensure your salary proposal is realistic.
- Collect information through networking with colleagues, using online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Prepare talking points ahead of time, including education & certificates in the form of years of relevant work experiences, achievements and results and unique skills abilities, industry expertise, and training potential.
- During the negotiation, be confident and articulate but also flexible and open-minded. You should highlight tangible results you’ve had in your previous positions.
- Keep a positive attitude throughout the conversation and make sure you are listening actively.
Do your research
Before you begin any negotiations regarding salary, it’s essential to do thorough research on the market and standards in the industry to ensure that your salary request is realistic. Some factors that can affect this include levels of experience degree, size of the company, and location (?). One great way to gather data is to connect with colleagues or others who are in the same profession.
Research Online
With the help of some online sources, like [LinkedIn Salary] (https: //www. linkedin. https://www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) You can find a an additional perspective on the benchmarking range of salary businesses pay for the same job. This will give you an idea of current market rate and a few other facets of the position.
Your Network is Important
Get insight from talking to people who have had similar roles, or reaching out via professional networks in addition to brainstorming professionals in professional organizations.
Plan Talk points
Preparing for a negotiations is always a good time spent. You’ll be much more confident in presenting your case if you are prepared with a specific list of points to discuss in advance.
Here are a few ideas of what you might want to think about including in your salary negotiation:
- Certification and education
- Years of relevant experience
- Achievements and results
- Unique set of skills and attributes (e.g. language proficiency,)
- Industry knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure that one doesn’t forget any crucial points.
Be confident & concise
During a salary negotiation it is essential to be confident and articulate. Be clear about your experience accomplishments, your job goals and achievements. It is important to keep a positive attitude throughout this conversation so that the employer feels like you’re not being aggressive.
Highlight Tangible Results
Simply stating that one is committed, hardworking, and focused may not be enough to generate an impressive appeal. So put forward clear statistics about how your previous positions made a distinction in businesses or what are the most valuable qualities that help an organisation.
Be flexible
If your employer isn’t able to your salary or compensation package, remaining flexible and open-minded will allow for dialog. You could ask about alternatives to incentives, such as performance-based bonus structures, instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process no matter how well or badly it’s going getting too defensive or imposing unreasonable demands can lead to a negative outcome for all parties involved.
Practice active listening
Listening is just as important as communicating in these types of conversations. Listen attentively from the your counterpart during negotiations. Listen to requested amount carefully & clarifying doubts as much as you can while maintaining the initial request. Ultimately both parties should arrive at acceptable outcomes.
Use the lessons you’ve learned from these conversations and incorporate it into the next talks you’re likely to participate in. The tips mentioned above will go far in maximizing your chances of reaching mutually beneficial outcomes.
| Your network is important | Speak to friends who have had similar experiences or reach out to the professional network in addition to brainstorming members of professional associations. |
| Plan Talk points | Training and certification, years of relevant experience, Performance and achievements, unique skills and characteristics (e.g. bi-lingualism) Know-how in the field, Training potential |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Highlight Tangible Results. |
| Be flexible | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary. (?). You must remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as communicating in these kinds of conversations. Consider what you’ve learned away from these conversations and apply it to future negotiations you’ll likely take part in. |
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Frequently asked questions
What is salary negotiation?
It is the act of negotiating and finalizing the compensation package for a particular job. During this process it is possible to discuss not only the base salary, but also other benefits, such as retirement plans, health insurance, and more.
Why is it important to discuss salary?
Negotiating your salary can give you a more secure financial future as well as show that you know your worth. It will also allow you to avoid putting money on the table.
What is the best time to negotiate for a raise?
It is ideal to begin negotiations immediately after receiving an offer so that everyone is conscious of what’s being negotiated. Then, the negotiations are focused on securing optimal terms and avoid surprise.
What happens if I am completely satisfied with the deal I received without any negotiation?
If you get an offer and are content with it, then there’s probably no need to discuss it. However, it’s still essential to provide clear information about what employers will provide in the form of rewards based on performance or reimbursements for career training.
Can I negotiate my salary if switching careers completely?
The negotiation of salary for changing careers may require more training because your previous work experiences may not be directly applicable or relate to the new duties. Research what similar roles in similar fields pay to gain a robust understanding of realistic expectations for yourself, given the specific circumstances.
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