How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an extremely difficult process, since it involves balancing what consider your worth and what an employer thinks they can afford. However, if done correctly, it can be an enjoyable experience for both parties that results in a greater salary for the employee, as well as greater satisfaction for the employees in their work. Learn how to negotiate your salary with confidence.
Important Takeaways
- Before you make a salary offer study market rates and industry standards to ensure your salary offer is fair.
- Gather information through 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 time, including education & certificates and years of relevant experience, the results and achievements as well as unique skill sets and qualifications, industry knowledge and training potential.
- During the negotiation, be confident and clear, but be flexible and open. Highlight tangible results that you’ve had in your previous positions.
- Keep a positive attitude throughout the conversation, and practice active listening.
Do your research
Prior to entering any salary negotiation, it’s important to do thorough research on current market rates and industry standards to ensure that your salary request is realistic. Factors that might impact this include your experience level, company size as well as location. (?). One way to gather data is to connect with colleagues and others who are in the same field of work.
Research Online
Utilizing internet-based resources like [LinkedIn Salary] (https http://www. linkedin. com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) You can find a an extensive view of the salary range that benchmarking businesses are providing for same job. This will give you an idea of current market rate plus few other facets of the job.
Your Network Is Essential
Get insight from talking to acquaintances who have had similar positions or reaching out via professionally-oriented networks in addition to brainstorming members of professional organizations.
Make Talking points
The time spent in preparing for a negotiation is always time well spent. You’ll feel more confident in giving your argument if you are prepared with a specific set of talk points that you have outlined in advance.
Here are a few examples of things that you could consider when negotiating your salary:
- Education & certification
- Years of relevant experience
- Performances and results
- Unique skill set and qualities (e.g. language proficiency,)
- Industry knowledge
- Potential for training
A notepad or notebook can be helpful during conversations so it is not lost important details.
Be confident & concise
When you negotiate your salary, it’s important to be confident and clear. Be clear about your experience as well as your achievements and expectations for the job. It is important to keep an optimistic tone throughout the conversation to ensure that your person who is hiring you feels that you’re not appearing to be aggressive.
Highlight Tangible Results
Simply saying that you are determined, hardworking and focused may not be enough for an appealing appeal. It is important to present clear and precise data regarding the ways in which previous jobs made difference in companies or what are the most valuable skills which benefit organisation
Remain flexible
If the employer isn’t able to your requested salary or compensation plan in full, remaining flexible and open-minded will help open the door to dialogue. You could ask about alternatives to incentives, such as performance-based bonus models instead of Base salary(? ).
Make sure to remain professional throughout the negotiation process no matter how well or not: being too combative or making unreasonable demands is likely to have a negative impact for everyone affected.
Practice active listening
Listening is just as important as speaking during these kinds of conversations. Do listen actively from any other participant during negotiations, observing requested amount carefully & clarifying doubts, if necessary, while gently sticking with original request. In the end, both parties must arrive at acceptable outcomes.
Use the lessons you’ve learned away 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 your chances of achieving positive, mutually beneficial results.
| 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. |
| Plan talking points | Training and certification, years of relevant experience, Results and achievements, Unique ability and traits (e.g. the ability to speak two languages) and industry knowledge. Potential for training |
| Be confident & concise | Be clear about your experience as well as your achievements and expectations. Use tangible results to highlight your achievements. |
| Keep your mind open | Ask about alternative incentives like incentive structures based on performance rather than Base salary. (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is just as important in these types of conversations. Consider what you’ve learned away from these conversations and incorporate them into future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Negotiating salary is discussing and deciding on the compensation package for a job. In this negotiation you are able to discuss more than only the base salary, but also other benefits, such as retirement plans, health insurance and many more.
Why is it important to bargain on salary?
Negotiating your pay can provide you a better financial future and show you are aware of your worth. It will also allow you to not leave money on the table.
How soon should I negotiate for a raise?
It is ideal to begin negotiations following the acceptance of an offer to ensure that all parties are aware of the terms being discussed. So, negotiations are focused on securing the best terms, while avoiding any unpleasant surprises.
What happens if I am completely satisfied with the offered package with no negotiation?
If you accept an offer and you are satisfied with it, then there’s no need to bargain. It’s nevertheless important to provide clear information about what your employer’s expectations in the form of rewards based on performance or reimbursements for career training.
Can I negotiate salary when I change careers entirely?
Salary negotiation when changing career paths can require extra training because your previous work experience might not directly translate or relate to the new duties. Learn about the salaries similar to those in similar industries pay to gain a robust comprehension of realistic expectations for you, based on the specific circumstances.
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