How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be difficult to talk about, because it requires you to balance what you think you’re worth versus what an employer thinks they’re able to afford. If it’s done right, it can be an enjoyable experience for both the employer and employee, which results in a higher pay for the employee as well as greater satisfaction for the employees in their work. Here’s how to make your salary negotiation a success.
Principal Takeaways
- Before you make a salary offer take a look at market rates and industry standards to confirm that your salary offer is fair.
- Gather information through socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Prepare talking points ahead of time, including education and certifications in the form of years of relevant work experience, results & achievements as well as unique skill sets and abilities, industry expertise, and potential for training.
- During the negotiation, be assured and confident but remain flexible and open-minded. Show tangible results that you’ve had in your previous positions.
- Keep a positive and upbeat tone throughout the conversation and be active in your listening.
Do your research
Before you enter any salary negotiation, it’s important to do thorough research on standard industry rates and market rates to make sure that your salary proposal is realistic. The factors that could affect this could include experience levels, the size of your company and the location of the company. (?). A great method of gathering information is through networking with colleagues or others within your profession.
Research Online
With the help of some 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. http://www.salaries.com/index.html) you can obtain a an extensive view of the benchmarking range of salaries companies pay for the same role which will gives you an idea of current market rate plus few other factors related to the position.
Your Network Is Essential
Find out more about your situation by talking with colleagues who have been in similar positions, or contacting them via the professional networks in addition to brainstorming members of professional organizations.
Prepare Talk points
Preparing for a negotiations is always a good time spent. You’ll be more confident when giving your argument if you have a set of talk points that you have outlined before the deadline.
Here are some examples of what you might consider during your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- The results and accomplishments
- Unique set of skills and attributes (e.g. the ability to speak two languages)
- Industry-specific knowledge
- Potential for training
A notepad or notebook can assist during conversations to ensure that one doesn’t forget any important details.
Be confident & concise
In a salary negotiation it is essential to be confident and clear. Talk clearly about your work experience, achievements and job expectations. It’s important to maintain an optimistic tone throughout the conversation to ensure that your employer doesn’t feel like you’re appearing to be insecure.
Highlight Tangible Results
Simply stating that one is ambitious, hardworking, and focused may not be enough to generate an strong appeal. It is important to present clear and precise data regarding how prior roles have made a difference in companies or how important are certain qualities that help an organisation.
Remain flexible
If your employer cannot agree to your requested salary or compensation package being flexible and open can allow room for discussion. You may be able to ask for alternative incentive options such as performance-based bonuses or structures, instead of Base salary(? ).
Be sure remain professional during the negotiation process - regardless of how well or poorly it’s going being too combative or imposing unreasonable demands could have a negative impact for all parties involved.
Practice active listening
Listening is as crucial as speaking during these kinds of conversations. Do listen actively from any other participant during negotiations, observing requested amount carefully & clarifying questions if needed, but maintaining the original request. Both parties should ultimately arrive at acceptable outcomes.
Consider the lessons you’ve learned from these discussions and incorporate them into future talks you’re likely to participate in. The tips mentioned above will go an enormous way to increasing your chances of achieving mutually beneficial outcomes.
| Your network is important | Contact friends and acquaintances who have been in similar positions or connect with professionally-oriented networks and brainstorming with members within professional organizations. |
| Create talking points | Certification and education, Years of relevant work experience, results and achievements, Unique abilities and skills (e.g. bi-lingualism) Know-how in the field, the potential for training |
| Be confident & concise | Be clear about your experience as well as your achievements and expectations. Highlight Tangible Results. |
| Remain flexible | Consider alternative incentives such as the performance-based bonuses instead of Base salary (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as communicating in these kinds of conversations. You can take the lessons you’ve learned from these conversations and incorporate them into future conversations you’ll probably be involved in. |
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Frequently asked questions
What is the concept of salary negotiation?
It is the act of negotiating and finalizing the compensation package for a position. Through this process you will be able to discuss not only your base salary but also other benefits like health insurance, retirement plans, and more.
Why is it so important to negotiate salary?
Negotiating your salary could give you a better financial future and also show that you know your worth. It will also allow you to not leave money on the table.
What is the best time to negotiate my salary?
It is best to begin negotiations after you have received an offer, so that all parties are conscious of what’s being negotiated. So, negotiations will focus on securing perfect terms while avoiding unexpected surprise.
What if I am happy with the offer without negotiating?
If you are offered a job and are content with the offer, then there’s no reason to negotiate. But it’s important to provide clear information about what employers will provide with regards to things like performance-based bonuses or career-training reimbursements.
Can I negotiate my salary if I change careers entirely?
The negotiation of salary for changing careers may require more preparation due to the fact that your previous experience might not directly translate or relate to the new duties. 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 your specific circumstances.
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