How to Negotiate Salary for Your Next Career Move
A salary negotiation is a difficult conversation, as it involves balancing what believe you’re worth with what the employer thinks they can afford. If it’s done right it can result in an enjoyable experience for both parties, resulting in a better salary for the employee and greater satisfaction for the employees in their work. Here’s how to make your salary negotiation a success.
The most important takeaways
- Before you make a salary offer study market rates and industry standards to ensure the salary you request is reasonable.
- Get information from socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education & certificates and years of relevant experience, the results and achievements, unique skill set & qualifications, industry knowledge and the potential for further training.
- During the negotiation, you must be confident and clear, but be flexible and open. Show tangible results that you have achieved in previous positions.
- Keep a positive and upbeat tone throughout the conversation and make sure you are listening actively.
Do your research
Prior to entering any salary negotiation, you need to conduct thorough research on standard industry rates and market rates to ensure that your salary request is reasonable. The factors that could affect this may include levels of experience degree, size of the company as well as location. (?). One way to gather data is to connect with your colleagues or those in your chosen area of work.
Research Online
Utilizing internet-based resources like [LinkedIn Salary] (https http://www. linkedin. https://www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a more comprehensive information about the salary range that benchmarking companies pay for the same role which will gives you an idea of the current market rates and other elements that are related to the job.
Your Network is Essential
Find out more about your situation by talking with colleagues who have been in similar roles or reaching out through professional networks and brainstorming with members of professional organizations.
Prepare Talking points
Preparing for a negotiations is always a good time spent. You’ll be more confident when the presentation of your case if have a clear list of points to discuss ahead of time.
Here are some ideas of items you may want to consider when negotiating your salary:
- Certification and education
- Years of relevant experience
- The results and accomplishments
- Particular skill set and traits (e.g. bilingualism)
- Know-how in the field
- Potential for training
Notes and notebooks can also help during conversations so that you don’t miss any important details.
Be confident & concise
During a salary negotiation It is important to be confident and clear. Make sure you are clear about your past experiences accomplishments, your job goals and achievements. It is important to keep your tone of voice positive throughout the conversation so that the employer feels like you’re not being hostile.
Show tangible results
Simply stating that someone is determined, hardworking and focused may not be enough to create an impactful appeal. It is important to present clear and precise data regarding how prior roles have made a an impact in the workplace or how important are certain abilities that can benefit an organization.
Remain flexible
If the employer isn’t able to agree to your requested salary or compensation package being flexible and open can allow room for discussion. You may be able to ask for alternatives to incentives, such as performance-based bonus structures, instead of Base salary(? ).
Be sure remain professional throughout the negotiation process no matter how well or not: being too combative or making unreasonable demands could cause a negative result for everybody affected.
Practice active listening
Listening is just as important as communicating in these types of conversations. Do listen actively from your counterpart during negotiations. Listen to requests carefully and clarifying doubts if at all while maintaining the initial request. The goal is to achieve satisfactory results.
Consider the lessons you’ve learned from these conversations and incorporate it into any future negotiations you’ll likely take part in. The tips mentioned above will go in the right direction to increase the chance of achieving positive, mutually beneficial results.
| Your Network is Important | Speak to friends who have had similar experiences or reach out to professionally-oriented networks as well doing brainstorming members of professional associations. |
| Plan Talk points | Certification and education, Years of relevant work experience, results and achievements, unique skill set and qualities (e.g. bi-lingualism), Industry knowledge, Training potential |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Make sure you highlight tangible results. |
| Stay flexible | You can inquire about alternative incentives such as performance-based bonus structures instead of Base salary. (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is just as important in these types of conversations. Take what you have learned away from these conversations and apply it to future discussions you’ll likely be involved in. |
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Frequently Asked Questions
What is salary negotiation?
Negotiating salary is negotiating and deciding on the compensation package for a job. In this negotiation you will be able to discuss not just the salary you earn, but also other benefits, such as retirement plans, health insurance as well as other benefits.
Why is it so important to negotiate salary?
Negotiating your salary can give you a greater financial future as well as indicate that you’re aware of what you’re worth. It will also allow you to keep money off the table.
How soon should I negotiate a salary?
It is recommended to begin negotiations after you have received an offer, so that all parties are aware of what is being discussed. Then, the negotiations will be focused on securing perfect terms while avoiding unexpected surprises.
What if I am happy with the offer without any negotiation?
If you are offered a job and you are satisfied with the offer, then there’s probably no need to discuss it. However, it’s essential to communicate clearly what the employer will offer in the form of rewards based on performance or reimbursements for career training.
Do I have the option of negotiating my salary when changing careers?
Negotiating your salary after changing career paths may require added training because your previous work experience might not directly translate or relate to the new duties. Research what similar roles in related industries offer to have a clear knowledge of the realistic expectations you can set for you, based on your specific circumstances.
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