How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an extremely difficult process, since it is about balancing what you consider your worth and what an employer thinks they’ll be able to afford. If done properly it can be a positive experience for both parties, resulting in a higher pay for the employee and greater employees’ engagement in their jobs. Here’s how you can bargain your salary in confidence.
Key Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to confirm that your salary offer is fair.
- Collect information through socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Prepare talking points ahead of time, including education and accreditation and years of relevant experience, results & achievements as well as unique skill sets and capabilities, knowledge of the industry, and the potential for further training.
- During the negotiation, you must be confident and articulate but also flexible and open. Show tangible results that you achieved in your previous roles.
- Maintain a positive mood throughout the conversation, and be active in your listening.
Do your research
Before you begin any salary negotiation, it’s important to do thorough research on current market rates and industry standards to make sure your salary offer is realistic. The factors that could affect this may include your experience level, company size as well as location. (?). One way to gather information is to network with colleagues and others in your chosen profession.
Research Online
With the help of some online sources, like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. https://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) You can find a an extensive view of the benchmarking range of salary that companies offer for the exact job. This gives you an idea of the current market rates and other aspects related to an employment.
Your Network Is Vital
Get insight from talking to people who have had similar positions, or contacting them through the professional networks as well doing brainstorming professionals in professional organizations.
Create Talking points
Time spent preparing for any negotiations is always a good time spent. You’ll be much more confident when making your case if you have a clear list of points to discuss before the deadline.
Here are a few instances of what you may want to consider to include in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Achievements and results
- Unique skill set and qualities (e.g. the ability to speak two languages)
- Knowledge of the industry
- Training potential
Also keeping notes/notebook handy can assist during conversations to ensure that one doesn’t forget any important details.
Be confident & concise
When you negotiate your salary it is essential to be confident and clear. Speak clearly about your experiences of accomplishments and your expectations. It is important to keep your tone of voice positive throughout the conversation so that the employer feels like you’re not appearing to be insecure.
Highlight Tangible Results
Simply stating one is committed, hardworking, and goal-oriented may not be enough to make an strong appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made difference in companies or what are the most valuable capabilities which benefit organisation
Remain flexible
If your employer cannot agree to your salary or compensation plan in full being flexible and open will allow for discussion. You may be able to ask for alternative rewards, like performance-based bonus arrangements instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process regardless of how successfully or poorly it’s going getting too defensive or imposing unreasonable demands will likely result in an unfavourable outcome for everybody involved.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Pay attention to any other participant during negotiations, observing requests carefully and clarifying doubts if at all while gently sticking with initial request. In the end, both parties must be able to reach a satisfactory conclusion.
Learn from these conversations and incorporate it into any future negotiations you’ll likely take part in. The tips mentioned above will go in the right direction to increase your chances of reaching an agreement that is mutually beneficial.
| Your network is important | Talk to your friends who have had similar experiences or reach out to professionally-oriented networks in addition to brainstorming members of professional associations. |
| Make Talk points | Education & certification, Years of relevant work experience, results and accomplishments, Unique ability and traits (e.g. bi-lingualism), Industry knowledge, the potential for training |
| Be confident & concise | Talk clearly about your personal experiences as well as your achievements and expectations. Highlight Tangible Results. |
| Keep your mind open | Find out about other incentives, such as performance-based bonus structures instead of Base salary (?). Make sure to remain professional during the negotiation. |
| Practice active listening | Listening is equally important in these types of conversations. You can take the lessons you’ve learned away from these conversations and apply it to future negotiations you’ll likely take part in. |
Are you looking forward to your next career change? Go through our Toowoomba Resume ‘s services today!
Frequently Answered Questions
What is the concept of salary negotiation?
It is the act of discussing and deciding on the compensation plan for a position. Through this process you will be able to discuss not just your salary base, but also other benefits like health insurance, retirement plans and many more.
Why is it so important to discuss salary?
Negotiating your pay can provide you a greater financial future and show you’re confident about your worth. It can also help you keep money off the table.
What is the best time to negotiate the salary?
It is best to begin negotiations after receiving an offer so that all parties are aware of what is being negotiated. So, negotiations will be focused on securing ideal terms while avoiding unintentional surprises.
What if I am happy with the deal I received without negotiation?
If you get an offer and are happy with it, there’s probably no need to negotiate. But it’s important to provide clear information about what your employer’s expectations in terms of things like performance-based bonuses or career-training reimbursements.
Can I negotiate salary when changing careers?
Negotiating your salary after changing career paths can require extra preparation due to the fact that your previous experience may not directly translate or be a part of the new job. Study what similar positions in similar fields offer to have a clear knowledge of the realistic expectations you can set for yourself, given your specific circumstances.
Are you ready for your next career shift? Explore our Toowoomba Resume ‘s services today!
