How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be a difficult conversation, as it involves balancing what you consider your worth and what the employer thinks they’re able to pay. If done properly it could be an enjoyable experience for both parties that results in a better salary for the employee and a greater employee engagement in their work. Here’s how you can negotiate your salary confidently.
The most 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 networking with colleagues, using online tools like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Make a list of talking points ahead time, including education & certifications in the form of years of relevant work experiences, achievements and results, unique skill set & qualifications, industry knowledge and potential for training.
- In the course of negotiations, you should be confident and clear, but be flexible and open-minded. You should highlight tangible results you achieved in your previous positions.
- Keep a positive and upbeat tone throughout the conversation, and engage in 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 realistic. The factors that could affect this may include the level of experience, level, company size, and location (?). Another great method to gather information is to network with your colleagues or those who are in the same job field.
Research Online
Utilizing internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you can get more comprehensive information about the range of benchmarking salaries businesses pay for the same job. This gives you an idea of current market rates and other factors related to the job.
Your Network is Important
Learn more by talking to colleagues who have been in similar roles or reaching out through professionally-oriented networks as well as brainstorming members of professional associations.
Create talking points
The time spent in preparing for a negotiations is always a good time spent. You’ll feel much more confident in making your case if you have a outline of your talking points before the deadline.
Here are some examples of what you may want to consider including in your salary negotiation:
- Training and certification
- Years of relevant experience
- The results and accomplishments
- Unique set of skills and attributes (e.g. bilingualism)
- Industry-specific knowledge
- Training potential
Notes and notebooks can aid in conversations, so that one doesn’t forget any important information.
Be confident & concise
During a salary negotiation it is essential to be confident and clear. Speak clearly about your experiences, achievements and job expectations. It is important to keep an optimistic tone throughout the conversation to ensure that your employer doesn’t feel like you’re seeming insecure.
Highlight Tangible Results
Simply stating that someone is ambitious, hardworking, and focused may not be enough for an impressive appeal. So put forward clear statistics regarding how prior roles have made a distinction in businesses or what are the most valuable skills which benefit organisation
Stay flexible
If the employer isn’t able to agree to your salary request or compensation package being flexible and open will allow for discussions. You may be able to ask for alternative rewards, like performance-based bonus structures, instead of Base salary(? ).
Keep your cool throughout the negotiation process - regardless of how smoothly or poorly it’s going getting too defensive or imposing unreasonable demands is likely to have a negative impact for all parties affected.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Listen attentively from the other party during negotiations hearing specific requests and resolving doubts if at all while remaining in the spirit of your original request. Ultimately both parties should achieve satisfactory results.
Learn away from these conversations and incorporate it into the next discussions you’ll probably be involved in. By following the suggestions above, you will go in the right direction to increase your chances of achieving positive, mutually beneficial results.
| Your network is important | Contact friends and acquaintances who’ve held similar roles or reach out to professionally-oriented networks as well as brainstorming members of professional associations. |
| Plan Talk points | Training and certification, years of relevant experience, Results and achievements, unique ability and traits (e.g. the ability to speak two languages) and industry knowledge. Potential for training |
| Be confident & concise | Talk clearly about your personal experiences accomplishments, job goals and achievements. Highlight Tangible Results. |
| Keep your mind open | You can inquire about alternative incentives such as the performance-based bonuses instead of Base salary. (?). You must remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important in these types of conversations. You can take the lessons you’ve learned from these discussions and incorporate them into the future conversations you’ll probably be involved in. |
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Frequently Asked Questions
What is salary negotiation?
Negotiating salary is negotiating and deciding on the compensation plan for a position. Through this process you are able to discuss more than just the salary you earn, but also other benefits, such as retirement plans, health insurance and many more.
Why is it important to discuss salary?
Negotiating your salary could give you a more secure financial future and also show that 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 recommended to begin negotiations immediately after receiving an offer so that all parties are aware of the terms being discussed. So, negotiations will focus on securing perfect terms while avoiding unexpected surprise.
What happens if I am satisfied with the package I was offered with no negotiation?
If you are offered a job and are content with the offer, then there’s probably no need to discuss it. However, it’s essential to provide clear information about what the employers are willing to offer in terms of things like compensation for training or performance-based bonuses.
Do I have the option of negotiating my salary when changing careers?
Negotiating salary when you change career paths can require extra planning because your prior experiences may not be directly applicable or overlap with new responsibilities. Study what similar positions in related fields pay to gain a robust idea of what realistic expectations are for yourself, in light of the specific circumstances.
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