How to Negotiate Salary for Your Next Career Move
A salary negotiation can be difficult to talk about, because it requires you to balance what you think you’re worth versus what an employer thinks they can afford. However, if done correctly it could be an enjoyable experience for both parties that results in a better salary for the employee and greater employee engagement in their work. Here’s how you can bargain your salary in confidence.
The most important takeaways
- Before you make a salary offer take a look at market rates and industry standards to confirm that your salary request is realistic.
- Gather information through connecting with colleagues through online resources such as 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 experience, results & achievements, unique skill set & abilities, industry expertise, and the potential for further training.
- During the negotiation, be assured and confident but remain flexible and open-minded. You should highlight tangible results you have achieved in previous positions.
- Keep a positive attitude throughout the conversation and be active in your listening.
Do your research
Prior to entering any negotiations regarding salary, it’s essential to do thorough research on market rates and industry standards to make sure your salary offer is reasonable. Some factors that can affect this could include the level of experience, degree, size of the company and the location of the company. (?). Another great method to gather information is to make connections with colleagues or others who are in the same job field.
Research Online
With the aid of online resources, such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can get an additional perspective on the benchmarking range of salary businesses pay for the same job. It will provide you with an idea of current market rate plus few other aspects related to an employment.
Your Network Is Important
Get insight from talking to people who have had similar roles or reaching out through professional networks as well as brainstorming professionals in professional organizations.
Plan Talking points
Preparing for a negotiations is always a good time spent. You’ll be much more confident when giving your argument if you have a clearly defined list of points to discuss ahead of time.
Here are some ideas of things you could consider when negotiating your salary:
- Education & certification
- Years of relevant experience
- Achievements and results
- Unique skill set and qualities (e.g. bilingualism)
- Industry-specific knowledge
- Training potential
Notes and notebooks can assist during conversations to ensure that one doesn’t forget any crucial points.
Be confident & concise
When you negotiate your salary it is essential to be confident and clear. Make sure you are clear about your past experiences, achievements and job expectations. It’s crucial to maintain your tone of voice positive throughout the conversation so that the person who is hiring you feels that you’re not appearing to be hostile.
Highlight the tangible results
Simply saying that you are ambitious, hardworking, and goal-oriented might not be enough to create an strong appeal. So put forward clear statistics on how previous roles made significant difference to companies or how valuable are specific capabilities which benefit organisation
Keep your mind open
If your employer cannot agree to your requested salary or compensation package, remaining flexible and open-minded can allow room for discussion. You may be able to ask for alternative rewards, like performance-based bonus models instead of the Base salary(? ).
You must remain professional during the negotiation process - regardless of how smoothly or poorly it’s going getting too defensive or imposing unreasonable demands will likely have a negative impact for all parties who is involved.
Practice active listening
Listening is as crucial as communicating during these kinds of conversations. Pay attention to any other participant during negotiations, observing requests carefully and clarifying doubts, if necessary, while maintaining the what you originally requested. The goal is to be able to reach a satisfactory conclusion.
Learn from these discussions and apply it to future talks you’re likely to participate in. Applying the advice above goes in the right direction to increase your chances of achieving an agreement that is mutually beneficial.
| Your network is important | Talk to your friends who’ve held similar roles or reach out via professional networks as well doing brainstorming members of professional associations. |
| Make talking points | Qualifications and training, Years of relevant work experience, results and achievements, Unique abilities and skills (e.g. bi-lingualism), Industry knowledge, Training potential |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Make sure you highlight tangible results. |
| Keep your mind open | Ask about alternative incentives like the performance-based bonuses instead of Base salary. (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is as crucial as communicating in these kinds of conversations. You can take the lessons you’ve learned from these discussions and incorporate it into any future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Negotiating salary is negotiating and finalizing the compensation package for a position. In this negotiation, you can discuss not only your base salary but also other benefits like health insurance, retirement plans and many more.
Why is it necessary to discuss salary?
Negotiating your pay can provide you a better financial future as well as show that you’re confident about your worth. It also helps you avoid putting money on the table.
When should I start negotiating my salary?
It’s best to begin negotiating immediately after receiving an offer so that everyone is informed of what’s being negotiated. Then, the discussions are focused on negotiating the best terms, while avoiding any unpleasant surprises.
What happens if I am completely satisfied with the deal I received without negotiation?
If you are offered a job and you are satisfied with it, there’s probably no need to negotiate. But it’s important to communicate clearly what the employers are willing to offer in terms of things like compensation for training or performance-based bonuses.
Can I negotiate my salary if 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 encapsulate new responsibilities. Find out what similar jobs in related fields pay, to develop a thorough knowledge of the realistic expectations you can set for yourself, given the particular circumstances you face.
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