How to Negotiate Salary for Your Next Career Move
Negotiating your salary is difficult to talk about, because it involves balancing what you think you’re worth versus what the employer thinks they’ll be able to afford. However, if done correctly, it can be a positive experience for both parties that results in a higher salary 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.
Important Takeaways
- Before you make a salary offer, research market rates and industry standards to confirm that your salary request is realistic.
- Get information from connecting with colleagues through websites like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Create talking points ahead of time, including education and certifications and years of relevant experience, the results and achievements and unique skills qualifications, industry knowledge and training opportunities.
- In the course of negotiations, you should be confident and clear, but be flexible and open. Highlight tangible results that you’ve achieved in your previous positions.
- Maintain a positive mood throughout the conversation, and make sure you are listening actively.
Do your research
Prior to entering any salary negotiation, it’s important to conduct thorough research on market rates and industry standards to make sure your salary offer is reasonable. Factors that might impact this may include the level of experience, degree, size of the company and the location of the company. (?). One great way to gather information is to network with colleagues or others who are in the same field of work.
Research Online
Utilizing internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can get an additional perspective on the benchmarking range of salary companies pay for the same role which will gives you an idea of current market rate plus few other aspects related to the position.
Your Network Is Essential
Get insight from talking to people who have had similar positions or reaching out via professionally-oriented networks in addition to brainstorming professionals in professional organizations.
Create Talking points
Time spent preparing for any meeting is time well spent. You’ll feel much more confident in giving your argument if you have a clearly defined list of points to discuss prior to the time.
Here are some instances of things that you might consider to include in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Performances and results
- Particular skill set and traits (e.g. language proficiency,)
- Industry knowledge
- Potential for training
Also keeping notes/notebook handy can aid in conversations, so that one doesn’t miss any important details.
Be confident & concise
In a salary negotiation it is essential to be confident and articulate. Be clear about your experience as well as your achievements and expectations for the job. It’s important to maintain a positive tone throughout this conversation so that the person who is hiring you feels that you’re not appearing to be unfriendly.
The Key to Tangible Results
Simply stating that one is determined, hardworking and focused may not be enough for an strong appeal. Make sure to provide precise statistics regarding how prior roles have made a an impact in the workplace or what are the most valuable abilities that can benefit an organization.
Keep your mind open
If your employer cannot agree to your salary request or compensation package outright, remaining flexible and open-minded can help create space for dialogue. You may be able to ask for alternative rewards, like performance-based bonus structures, instead of the Base salary(? ).
Keep your cool throughout the negotiation process regardless of how successfully or badly it’s going fighting too much or making unreasonable demands can result in an unfavourable outcome for everybody who is involved.
Practice active listening
Listening is as crucial as communicating during these kinds of conversations. Do listen actively from other party during negotiations hearing requests carefully and clarifying doubts if at all while remaining in the spirit of your their original request. The goal is to arrive at acceptable outcomes.
Consider the lessons you’ve learned away from these conversations and incorporate them into future talks you’re likely to participate in. Following the tips above goes an enormous way to increasing your chances of reaching positive, mutually beneficial results.
| Your Network is Important | Talk to your friends who have been in similar positions or connect with networking networks for professionals as well as brainstorming members of professional associations. |
| Prepare Talk points | Education & certification, Years of relevant work experience, results and accomplishments, unique abilities and skills (e.g. bi-lingualism) Know-how in the field, Training potential |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Use tangible results to highlight your achievements. |
| Be flexible | Find out about other incentives, such as incentive structures based on performance rather than Base salary (?). You must remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as speaking during these kinds of conversations. Consider what you’ve learned from these conversations and incorporate it into any future negotiations you’ll likely take part in. |
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Frequently Asked Questions
What is salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation plan for a job. Through this process, you can discuss not just your salary base, but also other benefits like retirement plans, health insurance and many more.
Why is it important to negotiate salary?
Negotiating your salary could give you a better financial outlook and show you are aware of your worth. This can help you keep money off the table.
When should I begin to negotiate for a raise?
It is ideal to begin negotiations following the acceptance of an offer to ensure everyone is aware of what is being negotiated. Then, the negotiations are focused on securing ideal terms while avoiding unintentional surprises.
What if I am content with the package I was offered without any negotiation?
If you get an offer and are pleased with it, there’s probably no need to negotiate. It’s nevertheless important to have transparent communication about what your employer’s expectations with regards to things like rewards based on performance or reimbursements for career training.
Can I negotiate my salary if changing careers?
Negotiating your salary after changing career paths may require added preparation because your past experience might not directly translate or be a part of the new job. Learn about the salaries similar to those in related fields offer to have a clear understanding of realistic expectations for yourself, given the particular circumstances you face.
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