How to Negotiate Salary for Your Next Career Move
Negotiating your salary is a difficult conversation, as it requires you to balance what you consider your worth and the amount an employer believes they’re able to afford. If done properly, it can be a positive experience for both the employer and employee, which results in a greater salary for the employee as well as greater employee engagement in their work. Here’s how you can bargain your salary in confidence.
Principal Takeaways
- Before you make a salary offer, research market rates and industry standards to ensure your salary request is realistic.
- Gather information through socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and contacting professional networks.
- Prepare talking points ahead of time, including education and accreditation, years of relevant knowledge, accomplishments and achievements, unique skill set & capabilities, knowledge of the industry, and the potential for further training.
- During the negotiation, you must be confident and clear, but be flexible and open. You should highlight tangible results you’ve had in your previous positions.
- Maintain a positive mood throughout the conversation and be active in your listening.
Do your research
Before you begin any negotiations regarding salary, it’s essential to conduct a thorough study of current market rates and industry standards to ensure that your salary suggestion is realistic. The factors that could affect this include your experience levels, the size of your company and geographical location. (?). A great method of gathering information is through networking with colleagues or others in your chosen field of work.
Research Online
With the help of some internet-based resources like [LinkedIn Salary] (https http://www. linkedin. https://www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a more comprehensive information about the benchmarking range of salary companies pay for the same job. It will provide you with an idea of current market prices and also other factors related to a job.
Your Network is Essential
Get insight from talking to friends who have held similar positions or reaching out via professional networks and brainstorming with professionals in professional organizations.
Prepare Talk points
Preparing for any meeting is time well spent. You’ll be more confident when making your case if you have a clear outline of your talking points before the deadline.
Here are a few ideas of what you may want to consider during your salary negotiation:
- Certification and education
- Years of relevant experience
- Performances and results
- Particular skill set and traits (e.g., bilingualism)
- Know-how in the field
- Potential for training
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure that one doesn’t miss any crucial points.
Be confident & concise
When you negotiate your salary, it’s important to be confident and clear. Talk clearly about your work experience accomplishments, your job goals and achievements. It’s essential to maintain a positive attitude throughout this conversation to ensure that your employer isn’t being hostile.
Show tangible results
Simply stating one is driven, hardworking, and goal-oriented may not be enough to create an strong appeal. So put forward clear statistics about how your previous positions made a an impact in the workplace or how valuable are specific capabilities that benefit the organization.
Keep your mind open
If the employer isn’t able to agree to your salary or compensation plan in full being flexible and open will help open the door to discussions. It is possible to inquire about alternative rewards, like performance-based bonus models instead of the Base salary(? ).
Keep your cool throughout the negotiation process regardless of how well or poorly it’s going Being too aggressive or imposing unreasonable demands can lead to a negative outcome for everybody who is involved.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Be attentive to the any other participant during negotiations, observing requested amount carefully & clarifying doubts if at all while remaining in the spirit of your their original request. Ultimately both parties should achieve satisfactory results.
Use the lessons you’ve learned from these conversations and incorporate it into any future negotiations you’ll likely take part in. Following the tips above goes a long way towards maximizing your chances of reaching positive outcomes that are mutually beneficial.
| Your Network is Important | Contact friends and acquaintances who have had similar experiences or connect with the professional network and brainstorming with members of professional associations. |
| Make talking points | Certification and education, Years of relevant experience, Performance and achievements, unique skill set and qualities (e.g., bilingualism) Know-how in the field, Potential for training |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Focus on tangible results. |
| Be flexible | Consider alternative incentives such as incentive structures based on performance rather than Base salary (?). Make sure to remain professional during the negotiation. |
| Practice active listening | Listening is just as important as communicating during these types of conversations. Learn from these discussions 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 plan for a job. In this negotiation you are able to discuss more than just the salary you earn, but also additional benefits such as health insurance, retirement plans as well as other benefits.
Why is it so important to bargain on salary?
Negotiating your salary can give you a more secure financial future as well as show that you’re aware of what you’re worth. It also helps you not leave money on the table.
When should I begin to negotiate a salary?
It is best to begin negotiations after you have received an offer, so everyone is aware of the terms being negotiated. In this way, negotiations will focus on securing ideal terms while avoiding surprise.
What if I am content with the offer without negotiation?
If you are offered a job and you are satisfied with the offer, then there’s no need to bargain. However, it’s essential to provide clear information about what the employers are willing to offer with regards to things like compensation for training or performance-based bonuses.
Can I negotiate my salary if changing career paths entirely?
The negotiation of salary for changing career paths can require extra planning because your prior experiences may not be directly applicable or encapsulate new responsibilities. Find out what similar jobs in similar fields pay in order to get a solid understanding of realistic expectations for you, based on your specific circumstances.
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