How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it involves balancing what you believe you’re worth with what an employer thinks they can afford. But, if it’s done correctly it can result in an enjoyable experience for both parties that results in a better salary for the employee and greater employees’ engagement in their jobs. Learn how to negotiate your salary confidently.
The most important takeaways
- Before you make a salary offer, research market rates and industry standards to make sure that the salary you request is reasonable.
- Get information from socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Plan your talk points ahead of time, including education and certifications in the form of years of relevant work knowledge, accomplishments and achievements, unique skill set & abilities, industry expertise, and potential for training.
- During the negotiation, be confident and articulate but also flexible and open. You should highlight tangible results you’ve had in your previous roles.
- Maintain a positive mood throughout the conversation, and be active in your listening.
Do your research
Before entering into any salary negotiation, you need to conduct thorough research on market rates and industry standards to make sure that your salary proposal is realistic. Things that may affect this may include levels of experience level, company size and the location of the company. (?). Another great method to gather information is through networking with colleagues or others within your area of work.
Research Online
With the help of online resources, such as [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 will get a an additional perspective on the benchmarking range of salaries that companies offer for the exact job. This gives you an idea of the current market rates and other factors related to an employment.
Your Network Is Vital
Gain insight by speaking to acquaintances who have had similar roles or reaching out via professionally-oriented networks as well doing brainstorming professionals in professional organizations.
Make talking points
The time spent in preparing for a negotiations is always a good time spent. You’ll be more confident in making your case if you have a clear list of points to discuss prior to the time.
Here are some examples of items you might consider to include in your salary negotiation:
- Education & certification
- Years of relevant experience
- Results and achievements
- Unique skill set and qualities (e.g. language proficiency,)
- Knowledge of the industry
- Potential for training
Notes and notebooks can be helpful during conversations so it is not lost important information.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and clear. Talk clearly about your work experience accomplishments, your job goals and achievements. It’s essential to maintain your tone of voice positive throughout the conversation to ensure that your employer doesn’t feel like you’re seeming insecure.
Highlight the tangible results
Simply stating one is determined, hardworking and aspire-driven person may not be enough to generate an appealing appeal. So put forward clear statistics on how previous roles made distinction in businesses or how valuable are specific skills that help an organisation.
Keep your mind open
If the employer isn’t able to your salary or compensation plan in full being flexible and open will allow for dialogue. It is possible to 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 fighting too much or making unreasonable demands will likely lead to a negative outcome for everybody affected.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Be attentive to the another party while you negotiate, listening to the specific requests and resolving doubts, if necessary, while gently sticking with their original request. In the end, both parties must achieve satisfactory results.
Take what you have learned from these discussions and apply it to future discussions you’ll probably be involved in. Following the tips above goes an enormous way to increasing the chances of achieving an agreement that is mutually beneficial.
| Your network is important | Have a chat with friends who have been in similar positions or reach out to professional networks in addition to brainstorming members within professional organizations. |
| Create Talk points | Qualifications and training, Years of relevant experience and achievements, unique skills and characteristics (e.g., bilingualism) Knowledge of the industry, Potential for training |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Focus on tangible results. |
| Keep your mind open | Consider alternative incentives such as incentive structures based on performance rather than Base salary. (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is equally important as communicating in these kinds of conversations. Take what you have learned away from these conversations and incorporate them into future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
It is the act of discussing and deciding on the compensation package to be paid for your job. In this negotiation you are able to discuss more than only your base salary but also other benefits like retirement plans, health insurance and much more.
Why why is it important to discuss salary?
Negotiating your salary can give you a better financial outlook as well as indicate that you’re aware of what you’re worth. It can also help you avoid putting money on the table.
When should I start negotiating my salary?
It is best to begin negotiations following the acceptance of an offer to ensure everyone is aware of the terms being negotiated. Then, the discussions are focused on negotiating perfect terms while avoiding unexpected unpleasant surprises.
What happens if I am satisfied with the offer without negotiation?
If you accept an offer and you are satisfied with the offer, then there’s no need to discuss it. But it’s important to have transparent communication about what employers will provide with regards to things like compensation for training or performance-based bonuses.
Can I negotiate salary when I change careers entirely?
Negotiating your salary after changing career paths could require additional preparation because your past experience might not directly translate or relate to the new duties. Research what similar roles in similar fields pay to gain a robust understanding of realistic expectations for you, based on the particular circumstances you face.
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