How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it is about balancing what you believe you’re worth with the amount an employer believes they’re able to afford. If it’s done right, it can be a positive experience for both sides that results in a higher salary for the employee, as well as greater satisfaction for the employees in their work. Here’s how to negotiate your salary with confidence.
Principal Takeaways
- Before you negotiate your salary study market rates and industry standards to ensure your salary request is realistic.
- Collect information through connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead the time, including education and accreditation in the form of years of relevant work experiences, achievements and results, unique skill set & abilities, industry expertise, and training opportunities.
- During the negotiation, you must be confident and articulate but also flexible and open-minded. Bring out tangible results you have achieved in previous positions.
- Maintain a positive mood throughout the conversation and make sure you are listening actively.
Do your research
Before you enter any negotiations regarding salary, it’s essential to conduct a thorough study of the market and standards in the industry to ensure that your salary request is reasonable. Factors that might impact this could include the level of experience, degree, size of the company, and location (?). One great way to gather data is to connect with your colleagues or those who are in the same field of work.
Research Online
Utilizing online resources, such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https http://www. linkedin. com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a more substantial approach towards the benchmarking range of salaries businesses pay for the same job. This will give you an idea about current market rate plus few other factors related to a job.
Your Network Is Essential
Learn more by talking to friends who have held similar positions or reaching out through professional networks in addition to brainstorming professionals in professional organizations.
Plan talking points
The time spent in preparing for a negotiation is always well spent. You’ll be more confident in making your case if you are prepared with a specific outline of your talking points in advance.
Here are some ideas of items you might consider during your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Achievements and results
- Unique set of skills and attributes (e.g. bilingualism)
- Industry-specific knowledge
- Training potential
A notepad or notebook can aid in conversations, so that one doesn’t forget any crucial points.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and articulate. Speak clearly about your experiences accomplishments, your job goals and achievements. It is important to keep an optimistic tone throughout the dialogue so that the employer isn’t appearing to be aggressive.
The Key to Tangible Results
Simply stating that someone is ambitious, hardworking, and aspire-driven person may not be enough for an strong appeal. So put forward clear statistics regarding how prior roles have made a distinction in businesses or the value of specific skills that help an organisation.
Be flexible
If the employer cannot agree to your salary request or compensation package being flexible and open can allow room for discussions. It is possible to inquire about alternative incentive options such as performance-based bonuses or structures, instead of the Base salary(? ).
Be sure remain professional throughout the negotiation - regardless of how successfully or badly it’s going Being too aggressive or imposing unreasonable demands is likely to have a negative impact for all parties affected.
Practice active listening
Listening is as crucial as speaking during these kinds of conversations. Do listen actively from another party while you negotiate, listening to the specific requests and resolving doubts, if necessary, while gently sticking with initial request. Both parties should ultimately arrive at acceptable outcomes.
Learn away from these conversations and apply it to future talks you’re likely to participate in. Applying the advice above goes far in maximizing the chances of achieving positive, mutually beneficial results.
| Your Network is Important | Speak to friends who’ve held similar roles or reach out via professionally-oriented networks and brainstorming with members within professional organizations. |
| Make Talk points | Qualifications and training, Years of relevant work experience, results and achievements, Unique skill set and qualities (e.g. bi-lingualism) and industry knowledge. Potential for training |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Highlight Tangible Results. |
| Keep your mind open | Ask about alternative incentives like incentive structures based on performance rather than Base salary (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is as crucial as speaking during these kinds of conversations. You can take the lessons you’ve learned away from these conversations and incorporate them into the 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 plan for a job. In this negotiation, you can discuss not just the salary you earn, but also additional benefits such as health insurance, retirement plans and much more.
Why why is it important to negotiate salary?
Negotiating your salary will give you a more secure financial future as well as show that you know your worth. It can also help you not leave money on the table.
When should I begin to negotiate for a raise?
It is recommended to begin negotiations immediately after receiving an offer so that everyone is aware of what is being discussed. So, negotiations are focused on securing the best terms, while avoiding any surprises.
What if I am happy with the package I was offered without negotiating?
If you get an offer and you are satisfied with it, there’s no need to bargain. But it’s important to communicate clearly what employers will provide in the form of rewards based on performance or reimbursements for career training.
Do I have the option of negotiating my salary when I change careers entirely?
The negotiation of salary for changing careers may require more training because your previous work experiences may not be directly applicable or relate to the new duties. Study what similar positions in similar industries pay to gain a robust knowledge of the realistic expectations you can set for yourself, in light of the specific circumstances.
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