How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it involves balancing what you think you’re worth versus what the employer thinks they can afford. However, if done correctly it can result in a positive experience for both the employer and employee, which results in a higher pay for the employee as well as greater employee engagement in their work. Learn how to negotiate your salary confidently.
Key Takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure your salary proposal is realistic.
- Gather information through the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Plan your talk points ahead of time, including education & certification and years of relevant experience, the results and achievements as well as unique skill sets and qualifications, industry knowledge and potential for training.
- In the course of negotiations, you should be confident and articulate but also flexible and open. Show tangible results that you’ve achieved in your previous positions.
- Maintain a positive mood throughout the conversation and be active in your listening.
Do your research
Before entering into any negotiations regarding salary, it’s essential to do thorough research on current market rates and industry standards to make sure that your salary proposal is reasonable. Things that may affect this may include your experience level, company size as well as location. (?). One way to gather data is to connect with colleagues and others in your chosen profession.
Research Online
With the help of online resources such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you will get a an additional perspective on the range of benchmarking salaries businesses pay for the same role which will gives you an idea about current market prices and also other aspects related to a job.
Your Network Is Essential
Get insight from talking to acquaintances who have had similar roles or reaching out through the professional networks and brainstorming with members of professional associations.
Make Talk points
The time spent in preparing for a negotiation is always time well spent. You’ll be more confident in presenting your case if you have a clearly defined list of points to discuss before the deadline.
Here are some ideas of things you might consider when negotiating your salary:
- Certification and education
- Years of relevant experience
- Performances and results
- Unique set of skills and attributes (e.g. language proficiency,)
- Knowledge of the industry
- Potential for training
A notepad or notebook can aid in conversations, so that one doesn’t forget any important points.
Be confident & concise
During a salary negotiation It is important to be confident and articulate. Speak clearly about your experiences accomplishments, your job goals and achievements. It is important to keep a positive attitude throughout this dialogue so that the employer doesn’t feel like you’re being insecure.
Highlight Tangible Results
Simply stating one is determined, hardworking and aspire-driven person may not be enough to make an impactful appeal. It is important to present clear and precise data regarding the ways in which previous jobs made an impact in the workplace or what are the most valuable capabilities which benefit organisation
Keep your mind open
If your employer isn’t able to agree to your salary request or compensation arrangement, remaining flexible and open-minded can help create space for discussion. You may be able to ask for alternative rewards, like performance-based bonus structures instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation - regardless of how well or not: being too combative or imposing unreasonable demands could result in an unfavourable outcome for all parties that is.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Pay attention to any other participant during negotiations, observing requested amount carefully & clarifying questions if needed, but gently sticking with what you originally requested. The goal is to achieve satisfactory results.
Use the lessons you’ve learned away from these conversations and incorporate them into future negotiations you’ll likely take part in. The tips mentioned above will go far in maximizing the chances of achieving mutually beneficial outcomes.
| Your Network is Important | Contact friends and acquaintances who have had similar experiences or reach out via professionally-oriented networks as well as brainstorming members of professional associations. |
| Prepare Talk points | Certification and education, Years of relevant experience, Results and accomplishments, Unique skill set and qualities (e.g. the ability to speak two languages), Industry knowledge, Potential for training |
| Be confident & concise | Talk clearly about your personal experiences accomplishments, job goals and achievements. Focus on tangible results. |
| Keep your mind open | You can inquire about alternative incentives such as performance-based bonus structures instead of Base salary (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is equally important as communicating in these kinds of conversations. Take what you have learned from these conversations and apply it to future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
The process involves discussing and deciding on the compensation plan for a particular job. During this process you will be able to discuss not just your salary base, but also other benefits like retirement plans, health insurance as well as other benefits.
Why is it so important to discuss salary?
Negotiating your pay can provide 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 a salary?
It is best to begin negotiations after you have received an offer, so that everyone is aware of what is being negotiated. So, discussions are focused on negotiating perfect terms while avoiding unexpected unintentional surprises.
What if I am content with the offer with no negotiation?
If you are offered a job and are pleased with it, there’s probably no need to negotiate. It’s nevertheless important to have transparent communication about what the employer will offer in the form of compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? changing careers?
Negotiating salary when you change career paths may require added training because your previous work experience may not directly translate or be a part of the new job. Learn about the salaries similar to those in similar industries pay in order to get a solid comprehension of realistic expectations for yourself, in light of the particular circumstances you face.
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