How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it involves balancing what consider your worth and the amount an employer believes they’re able to afford. If it’s done right it can result in a positive experience for both sides that results in a better salary for the employee and a greater engagement of the employee in their job. Here’s how to negotiate your salary with confidence.
The most important takeaways
- Before you make a salary offer study market rates and industry standards to ensure that the salary you request is reasonable.
- Get information from networking with colleagues, using online resources like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Prepare talking points ahead of time, including education and accreditation and years of relevant experience, the results and achievements and unique skills qualifications, industry knowledge and training potential.
- During the negotiation, be assertive and confident, yet flexible and open. Highlight tangible results that you have achieved in previous positions.
- Maintain a positive tone throughout the conversation, and practice active listening.
Do your research
Before entering into any salary negotiation, you need to conduct a thorough study of standard industry rates and market rates to ensure that your salary request is reasonable. Things that may affect the amount you are offered could be the level of experience, level, company size, and location (?). One great way to gather information is through networking with colleagues and others who are in the same job field.
Research Online
Utilizing online resources such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. https://www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. htm) You can find a an extensive view of the range of benchmarking salaries businesses pay for the same job. This will give you an idea of current market rate and a few other aspects related to an employment.
Your Network is Vital
Gain insight by speaking to colleagues who have been in similar roles or reaching out through professionals networks as well doing brainstorming professionals in professional organizations.
Prepare talking points
The time spent in preparing for a negotiations is always a good time spent. You’ll feel more confident in the presentation of your case if have a clearly defined outline of your talking points before the deadline.
Here are some suggestions of what you may want to consider during your salary negotiation:
- Education and certification
- Years of relevant experience
- Performances and results
- Unique skill set and qualities (e.g. language proficiency,)
- Industry knowledge
- Training potential
Also keeping notes/notebook handy can be helpful during conversations so that one doesn’t forget any important points.
Be confident & concise
During a salary negotiation it is essential to be confident and articulate. Be clear about your experience accomplishments, your job goals and achievements. It’s crucial to maintain a positive tone throughout this conversation to ensure that your employer doesn’t feel like you’re coming across as unfriendly.
Highlight the tangible results
Simply stating one is determined, hardworking and goal-oriented might not be enough to create an strong appeal. It is important to present clear and precise data about how your previous positions made a distinction in businesses or how important are certain capabilities that benefit the organization.
Stay flexible
If the employer isn’t able to your salary request or compensation package being flexible and open will allow for dialog. You may be able to ask for alternatives to incentives, such as performance-based bonus structures, instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation process - regardless of how successfully or poorly it’s going fighting too much or imposing unreasonable demands can cause a negative result for all parties that is.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Pay attention to another party while you negotiate, listening to the specific requests and resolving 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 from these conversations and incorporate them into future discussions you’ll probably be involved in. The tips mentioned above will go in the right direction to increase the chances of achieving positive, mutually beneficial results.
| Your Network is Important | Have a chat with friends who have been in similar positions or reach out to 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 skill set and qualities (e.g., bilingualism), Industry knowledge, the potential for training |
| Be confident & concise | Speak clearly about your experiences as well as your achievements and expectations. Focus on tangible results. |
| Stay flexible | Ask about alternative incentives like the performance-based bonuses instead of Base salary. (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial in these types of conversations. Learn from these conversations and incorporate it into any future negotiations that you’re likely to take part in. |
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Frequently Asked Questions
What is salary negotiation?
Salary negotiation is the process of negotiating and deciding on the compensation package for a particular job. During this process, you can discuss not just the salary you earn, but also benefits like retirement plans, health insurance and many more.
Why why is it important to bargain on salary?
Negotiating your salary can give you a better financial outlook as well as show that you are aware of your worth. It will also allow you to avoid putting money on the table.
When should I start negotiating for a raise?
It is best to begin negotiations immediately after receiving an offer so everyone is aware of what is being negotiated. This way, the negotiations will be focused on securing the best terms, while avoiding any unpleasant surprises.
What if I am content with the deal I received without negotiating?
If you get an offer and are content with it, there’s no need to bargain. But it’s important to communicate clearly what your employer’s expectations with regards to things like rewards based on performance or reimbursements for career training.
What is the best way to negotiate my salary? changing careers?
Negotiating salary when you change careers may require more preparation due to the fact that your previous experiences may not be directly applicable or relate to the new duties. Find out what similar jobs in similar fields offer to have a clear knowledge of the realistic expectations you can set for you, based on your particular situation.
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