How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it is about balancing what you think you’re worth versus what your employer believes they can afford. If done properly, 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 you can make your salary negotiation a success.
Key Takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure your salary offer is fair.
- Get information from the networking of colleagues, using websites like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Plan your talk points ahead of time, including education and certifications, years of relevant knowledge, accomplishments and achievements, unique skill set & abilities, industry expertise, and the potential for further training.
- In the course of negotiations, you should be confident and clear, but be flexible and open. Bring out tangible results you’ve achieved in your previous roles.
- Maintain a positive tone throughout the conversation, and make sure you are listening actively.
Do your research
Before entering into any salary negotiation, you need to conduct a thorough study of current market rates and industry standards to ensure that your salary suggestion is realistic. Factors that might impact this could include your experience level, company size as well as location. (?). Another great method to gather data is to connect with colleagues or others within your profession.
Research Online
With the help of some online resources, such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. Htm) You can find a more substantial approach towards the benchmarking range of salary that companies offer for the exact role which will gives you an idea of current market prices and also other facets of a job.
Your Network Is Essential
Gain insight by speaking to people who have had similar roles or reaching out through professionals networks in addition to brainstorming members of professional associations.
Plan talking points
The time spent in preparing for a negotiation is always well spent. You’ll be more confident in giving your argument if you are prepared with a specific set of talking points outlined prior to the time.
Here are a few ideas of things that you may want to consider to include in your salary negotiation:
- Education & certification
- Years of relevant experience
- Performances and results
- Unique set of skills and attributes (e.g. language proficiency,)
- Industry-specific knowledge
- Potential for training
Also keeping notes/notebook handy can assist during conversations to ensure it is not lost crucial points.
Be confident & concise
When you negotiate your salary it’s crucial to appear confident and articulate. Talk clearly about your work experience of accomplishments and your expectations. It is important to keep a positive attitude throughout this discussion so that the person who is hiring you feels that you’re not seeming hostile.
Highlight the tangible results
Simply stating one is determined, hardworking and focused may not be enough to create an appealing appeal. Make sure to provide precise statistics regarding how prior roles have made a significant difference to companies or how important are certain abilities that help an organisation.
Be flexible
If your employer isn’t able to agree to your requested salary or compensation package, remaining flexible and open-minded can help create space for discussions. You may be able to ask for alternatives to incentives, such as performance-based bonus structures, instead of the Base salary(? ).
Keep your cool throughout the negotiation process - regardless of how smoothly or poorly it’s going Being too aggressive or imposing unreasonable demands will likely cause a negative result for everyone affected.
Practice active listening
Listening is just as important as communicating during these types of conversations. Be attentive to the another party while you negotiate, listening to the the amount requested carefully and clarifying doubts if at all while maintaining the initial 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 the next negotiations that you’re likely to be involved in. Applying the advice above goes an enormous way to increasing the chance of achieving positive outcomes that are mutually beneficial.
| Your network is important | Contact friends and acquaintances who have held similar roles or reach out to networking networks for professionals as well as brainstorming members within professional organizations. |
| Create talking points | Certification and education, Years of relevant experience, Performance and accomplishments, unique skills and characteristics (e.g. bi-lingualism), Industry knowledge, ability to train |
| Be confident & concise | Speak clearly about your experiences accomplishments, job goals and achievements. Highlight Tangible Results. |
| Remain flexible | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary (?). You must remain professional during the negotiation. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. Consider what you’ve learned from these discussions and incorporate them into the future negotiations you’ll likely take part in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
It is the act of negotiating and deciding on the compensation plan for a job. Through this process it is possible to discuss not just your salary base, 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 will give you a greater financial future as well as indicate that you’re aware of what you’re 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 after you have received an offer, so that everyone is informed of what’s being negotiated. Then, the negotiations will be focused on securing the best terms, while avoiding any surprises.
What if I am happy with the deal I received without any negotiation?
If you accept an offer and are happy with it, then there may be no need to discuss it. It’s nevertheless important to be clear about what the employers are willing to offer with regards to things like rewards based on performance or reimbursements for career training.
Can I negotiate salary when I change careers entirely?
Salary negotiation when changing career paths could require additional training because your previous work experiences might not translate or relate to the new duties. Study what similar positions in related fields pay, to develop a thorough knowledge of the realistic expectations you can set for yourself, given the particular circumstances you face.
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