How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an arduous process because it involves balancing what think you’re worth versus what the employer thinks they can afford. If it’s done right it could be positive for both the employer and employee, which results in a higher salary for the employee, as well as greater employees’ engagement in their jobs. Learn how to negotiate your salary with confidence.
Principal Takeaways
- Before you negotiate your salary study market rates and industry standards to make sure that your salary offer is fair.
- Find out information by the networking of colleagues, using websites like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead time, including education and certifications in the form of years of relevant work experiences, achievements and results, unique skill set & qualifications, industry knowledge and training potential.
- During negotiations, be confident and clear, but be flexible and open. You should highlight tangible results you achieved in your previous roles.
- Keep a positive attitude throughout the conversation and make sure you are listening actively.
Do your research
Before you enter any salary negotiation, it’s important to conduct thorough research on market rates and industry standards to make sure your salary offer is reasonable. Some factors that can affect this may include your experience levels, the size of your company, and location (?). A great method of gathering information is through networking with colleagues or other professionals who are in the same profession.
Research Online
Utilizing online resources, such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you can get an extensive view of the benchmarking range of salaries that companies offer for the exact role which will gives you an idea of current market rate plus few other factors related to the job.
Your Network is Important
Gain insight by speaking to acquaintances who have had similar positions, or contacting them through professional networks as well as brainstorming members of professional organizations.
Create Talk points
Preparing for any negotiation is always time well spent. You’ll feel more confident when presenting your case if you have a set of talk points that you have outlined before the deadline.
Here are some examples of things that you might consider when negotiating your salary:
- Training and certification
- Years of relevant experience
- Results and achievements
- Unique set of skills and attributes (e.g. bilingualism)
- Knowledge of the industry
- Training potential
Notes and notebooks can be helpful during conversations so that you don’t miss any crucial points.
Be confident & concise
In a negotiation for a salary it’s crucial to appear confident and clear. Talk clearly about your work experience, achievements and job expectations. It’s crucial to maintain a positive attitude throughout this discussion so that the employer isn’t being hostile.
Highlight Tangible Results
Simply stating one is ambitious, hardworking, and aspire-driven person may not be enough to make an impressive appeal. Make sure to provide precise statistics regarding how prior roles have made a significant difference to companies or the value of specific abilities which benefit organisation
Be flexible
If your employer isn’t able to agree to your salary or compensation plan in full being flexible and open can help create space for dialog. You may be able to ask for alternative incentive options such as performance-based bonuses or structures, instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process - regardless of how successfully or not: getting too defensive or imposing unreasonable demands can result in an unfavourable outcome for everyone affected.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Listen attentively from the any other participant during negotiations, observing requests carefully and clarifying doubts, if necessary, while remaining in the spirit of your initial request. Ultimately both parties should be able to reach a satisfactory conclusion.
Consider the lessons you’ve learned from these conversations and incorporate it into any future talks you’re likely to participate in. By following the suggestions above, you will go a long way towards maximizing the chance of achieving positive outcomes that are mutually beneficial.
| Your Network is Important | Contact friends and acquaintances who’ve held similar roles or reach out to professional networks and brainstorming with members of professional associations. |
| Prepare Talk points | Certification and education, Years of relevant experience, Performance and accomplishments, Unique abilities and skills (e.g. multilingualism) Know-how in the field, Training potential |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Be flexible | Consider alternative incentives such as incentive structures based on performance rather than Base salary (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial in these types of conversations. Take what you have learned away from these conversations and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
The process involves negotiating and finalizing the compensation package for a particular job. When you negotiate this it is possible to discuss not only the base salary, but also other benefits like retirement plans, health insurance as well as other benefits.
Why is it so important to negotiate salary?
Negotiating your salary can give you a better financial outlook as well as show that you’re aware of what you’re worth. It also helps you avoid leaving money on the table.
When should I start negotiating a salary?
It’s best to begin negotiating after you have received an offer, so that all parties are aware of the terms being negotiated. Then, the discussions are focused on negotiating ideal terms while avoiding unintentional surprises.
What happens if I am completely satisfied with the offered package without negotiation?
If you get an offer and are happy with it, then there’s no reason to discuss it. It’s nevertheless important to communicate clearly what employers will provide regarding things such as the performance-based bonus or career-training reimbursements.
What is the best way to negotiate my salary? switching careers completely?
The negotiation of salary for changing career paths may require added planning because your prior experiences may not be directly applicable or encapsulate new responsibilities. Research what similar roles in related fields offer to have a clear knowledge of the realistic expectations you can set for yourself, in light of the particular circumstances you face.
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