How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it is about balancing what you consider your worth and what the employer thinks they’re able to afford. But, if it’s done correctly, it can be an enjoyable experience for both the employer and employee, which results in a higher pay for the employee and greater employee engagement in their work. Here’s how you can make your salary negotiation a success.
Important Takeaways
- Before you negotiate your salary study market rates and industry standards to ensure your salary offer is fair.
- Gather information through the networking of colleagues, using online resources such as LinkedIn Salary and Glassdoor, and contacting professional networks.
- Create talking points ahead of time, including education & certifications as well as years of relevant experience, results & achievements with a unique set of skills and qualities, industry knowledge, and training opportunities.
- In the course of negotiations, you should be confident and articulate but also flexible and open. You should highlight tangible results you’ve had in your previous roles.
- Keep a positive attitude throughout the conversation and practice active listening.
Do your research
Before entering into any negotiations regarding salary, it’s essential to conduct a thorough study of market rates and industry standards to make sure your salary offer is reasonable. The factors that could affect this include levels of experience degree, size of the company and geographical location. (?). Another great method to gather information is to make connections with your colleagues or those who are in the same profession.
Research Online
With the help of some online resources such as [LinkedIn Salary] (https http://www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a an extensive view of the range of benchmarking salaries businesses pay for the same job. This gives you an idea about current market rates and other elements that are related to an employment.
Your Network Is Important
Gain insight by speaking to people who have had similar positions, or contacting them via the professional networks in addition to brainstorming members of professional organizations.
Create Talking points
Preparing for any negotiations is always a good time spent. You’ll feel more confident in the presentation of your case if are prepared with a specific set of talking points outlined ahead of time.
Here are a few examples of things you might want to think about when negotiating your salary:
- Certification and education
- Years of relevant experience
- Performances and results
- Unique set of skills and attributes (e.g. bilingualism)
- Industry knowledge
- Training potential
A notepad or notebook can also help during conversations so that one doesn’t miss any important details.
Be confident & concise
When you negotiate your salary, it’s important to be confident and clear. Talk clearly about your work experience accomplishments, your job goals and achievements. It’s essential to maintain an optimistic tone throughout the conversation to ensure that your person who is hiring you feels that you’re not appearing to be hostile.
The Key to Tangible Results
Simply saying that you are ambitious, hardworking, and focused may not be enough to make an impressive appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made difference in companies or how valuable are specific qualities which benefit organisation
Be flexible
If your employer isn’t able to your salary or compensation package Being flexible and open can help create space for dialogue. You can inquire about alternative rewards, like performance-based bonus models instead of Base salary(? ).
Keep your cool throughout the negotiation process - regardless of how well or poorly it’s going getting too defensive or making unreasonable demands will likely lead to a negative outcome for everybody involved.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Pay attention to your counterpart during negotiations. Listen to requests carefully and clarifying doubts, if necessary, while maintaining the original request. Ultimately both parties should arrive at acceptable outcomes.
Take what you have learned from these discussions and incorporate it into any future negotiations that you’re likely to be involved in. The tips mentioned above will go an enormous way to increasing the chance of achieving positive, mutually beneficial results.
| Your Network is Important | Talk to your friends who have held similar roles or reach out to the professional network as well as brainstorming members within professional organizations. |
| Create Talk points | Qualifications and training, Years of relevant experience, Performance and accomplishments, unique ability and traits (e.g. bi-lingualism) and industry knowledge. ability to train |
| Be confident & concise | Be clear about your experience your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Stay flexible | You can inquire about alternative incentives such as performance-based bonus structures instead of Base salary (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is just as important in these types of conversations. Learn away from these conversations and apply it to future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation package for a job. In this negotiation you are able to discuss more than just the salary you earn, but also additional benefits such as health insurance, retirement plans and many more.
Why is it so important to discuss salary?
Negotiating your pay can provide you a better financial outlook as well as show that you know your worth. This can help you keep money off the table.
When should I start negotiating a salary?
It’s best to begin negotiating immediately after receiving an offer so that everyone is conscious of what’s being negotiated. This way, the negotiations will focus on securing perfect terms while avoiding unexpected unpleasant surprises.
What if I am content with the offer without negotiating?
If you accept an offer and are pleased with it, then there’s probably no need to discuss it. However, it’s still essential to provide clear information about what employers will provide in the form of rewards based on performance or reimbursements for career training.
What is the best way to negotiate my salary? I change careers entirely?
Negotiating salary when you change career paths can require extra training because your previous work experience might not directly translate or overlap with new responsibilities. Learn about the salaries similar to those 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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