How to Negotiate Salary for Your Next Career Move
Negotiating your salary is difficult to talk about, because it is about balancing what you think you’re worth versus what your employer believes they can afford. If it’s done right it could be positive for both sides that results in a better salary for the employee and a greater employee engagement in their work. Here’s how you can negotiate your salary confidently.
The most important takeaways
- Before you make a salary offer, research market rates and industry standards to ensure your salary request is realistic.
- Get information from connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Make a list of talking points ahead the time, including education and certification and years of relevant experience, results & achievements, unique skill set & qualities, industry knowledge, and training opportunities.
- During the negotiation, be confident and clear, but be flexible and open. You should highlight tangible results you achieved in your previous positions.
- Keep a positive attitude throughout the conversation, and practice active listening.
Do your research
Before you enter any pay negotiation, it’s crucial to do thorough research on market rates and industry standards to make sure that your salary proposal is reasonable. Things that may affect this include your experience level, company size as well as location. (?). One way to gather information is through networking with colleagues or other professionals in your chosen area of work.
Research Online
With the help of online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) you can obtain a more substantial approach towards the range of benchmarking salaries companies pay for the same job. It will provide you with an idea about current market prices and also other factors related to a job.
Your Network Is Vital
Get insight from talking to colleagues who have been in similar positions, or contacting them through the professional networks as well as brainstorming professionals in professional organizations.
Prepare talking points
Preparing for any meeting is time well spent. You’ll feel more confident in giving your argument if you are prepared with a specific list of points to discuss ahead of time.
Here are a few examples of what you might consider when negotiating your salary:
- Education and certification
- Years of relevant experience
- The results and accomplishments
- Particular skill set and traits (e.g. language proficiency,)
- Industry-specific knowledge
- Training potential
Also keeping notes/notebook handy can assist during conversations to ensure that you don’t miss any crucial points.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and clear. Be clear about your experience of accomplishments and your expectations. It’s crucial to maintain your tone of voice positive throughout the dialogue so that the employer feels like you’re not coming across as hostile.
Highlight Tangible Results
Simply stating that one is determined, hardworking and aspire-driven person may not be enough for an strong appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made significant difference to companies or how important are certain abilities that benefit the organization.
Be flexible
If your employer isn’t able to your salary request or compensation package outright, remaining flexible and open-minded will allow for dialogue. You can inquire about alternative incentive options such as performance-based bonuses or arrangements instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process regardless of how well or poorly it’s going being too combative or imposing unreasonable demands will likely cause a negative result for everybody that is.
Practice active listening
Listening is as crucial as communicating during these types of conversations. Do listen actively from your counterpart during negotiations. Listen to specific requests and resolving doubts as much as you can while gently sticking with what you originally requested. The goal is to arrive at acceptable outcomes.
Consider the lessons you’ve learned from these conversations and incorporate them into future negotiations that you’re likely to be involved in. Applying the advice above goes a long way towards maximizing the chance of achieving mutually beneficial outcomes.
| Your Network is Important | Speak to friends who have had similar experiences or connect with networking networks for professionals in addition to brainstorming members of professional associations. |
| Prepare talking points | Training and certification, years of relevant experience, Performance and achievements, Unique ability and traits (e.g. multilingualism), Industry knowledge, the potential for training |
| Be confident & concise | Speak clearly about your experiences as well as your achievements and 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 (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. Learn 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 the concept of salary negotiation?
The process involves discussing and deciding on the compensation plan for a position. During this process, you can discuss not only your base salary but also additional benefits such as retirement plans, health insurance and many more.
Why is it important to negotiate salary?
Negotiating your salary will give you a better financial outlook as well as indicate that you’re aware of what you’re worth. It also helps you keep money off the table.
When should I begin to negotiate the salary?
It is best to begin negotiations immediately after receiving an offer so that all parties are aware of the terms being discussed. This way, the negotiations will focus on securing ideal terms while avoiding surprises.
What if I am happy with the offered package with no negotiation?
If you are offered a job and are happy with the offer, then there’s probably no need to negotiate. However, it’s essential to communicate clearly what the employers are willing to offer with regards to things like rewards based on performance or reimbursements for career training.
What is the best way to negotiate my salary? I change careers entirely?
Negotiating salary when you change career paths may require added planning because your prior experience might not directly translate or encapsulate new responsibilities. Learn about the salaries similar to those in similar fields pay, to develop a thorough idea of what realistic expectations are for yourself, in light of your specific circumstances.
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