How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it involves balancing what you believe you’re worth with the amount an employer believes they’re able to pay. But, if it’s done correctly, it can be positive for both the employer and employee, which results in a greater salary for the employee, as well as greater employee engagement in their work. Learn how to negotiate your salary confidently.
Important Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to confirm that the salary you request is reasonable.
- Find out information by the networking of colleagues, using online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Create talking points ahead of time, including education & certificates as well as years of relevant experiences, achievements and results as well as unique skill sets and qualities, industry knowledge, and training opportunities.
- During negotiations, be assured and confident but remain flexible and open. Highlight tangible results that you have achieved in previous positions.
- Maintain a positive tone throughout the conversation, and practice active listening.
Do your research
Before you enter any salary negotiation, it’s important to conduct a thorough investigation of current market rates and industry standards to ensure that your salary request is reasonable. The factors that could affect the amount you are offered could be the level of experience, degree, size of the company as well as location. (?). A great method of gathering information is through networking with colleagues or other professionals in your chosen profession.
Research Online
With the help of some online resources, such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. htm) you will get a an extensive view of the benchmarking range of salaries businesses pay for the same job. It will provide you with an idea of the current market rate plus few other aspects related to the job.
Your Network is Essential
Get insight from talking to friends who have held similar positions, or contacting them via professionally-oriented networks in addition to brainstorming members of professional organizations.
Plan Talk points
Preparing for any meeting is time well spent. You’ll be much more confident in the presentation of your case if are prepared with a specific set of talk points that you have outlined in advance.
Here are a few ideas of what you might want to think about during your salary negotiation:
- Education and certification
- Years of relevant experience
- Performances and results
- Unique set of skills and attributes (e.g. language proficiency,)
- Knowledge of the industry
- Training potential
Notes and notebooks can assist during conversations to ensure that one doesn’t forget any important points.
Be confident & concise
In a negotiation for a salary it is essential to be confident and articulate. Speak clearly about your experiences as well as your achievements and expectations for the job. It’s important to maintain an optimistic tone throughout the dialogue so that the employer isn’t being unfriendly.
Highlight the tangible results
Simply stating one is ambitious, hardworking, and focused may not be enough for an impressive appeal. So put forward clear statistics on how previous roles made distinction in businesses or the value of specific abilities that can benefit an organization.
Stay flexible
If your employer isn’t able to agree to your salary request or compensation package, remaining flexible and open-minded will allow for dialog. You can inquire about alternative incentives like performance-based bonus models 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 could have a negative impact for all parties involved.
Practice active listening
Listening is just as important as communicating during these types of conversations. Pay attention to your counterpart during negotiations. Listen to the amount requested carefully and clarifying doubts, if necessary, while remaining in the spirit of your what you originally requested. Ultimately both parties should achieve satisfactory results.
Learn from these conversations and incorporate it into the next negotiations that you’re likely to be involved in. By following the suggestions above, you will go in the right direction to increase the chances of achieving mutually beneficial outcomes.
| Your Network is Important | Speak to friends who have had similar experiences or reach out via professionally-oriented networks as well as brainstorming members of professional associations. |
| Prepare Talk points | Education & certification, Years of relevant experience, Performance 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 as well as your achievements and expectations. Use tangible results to highlight your achievements. |
| Stay flexible | Ask about alternative incentives like the performance-based bonuses instead of Base salary. (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is just as important as speaking during these kinds of conversations. Learn from these conversations and incorporate them into 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 negotiating and deciding on the compensation package for a position. Through this process you will be able to discuss not just the salary you earn, but also other benefits, such as retirement plans, health insurance as well as other benefits.
Why is it so important to negotiate salary?
Negotiating your salary could give you a better financial outlook as well as show that you are aware of your worth. It will also allow you to keep money off the table.
How soon should I negotiate the salary?
It’s best to begin negotiating immediately after receiving an offer so everyone is informed of what’s being negotiated. Then, the negotiations are focused on securing the best terms, while avoiding any unintentional surprises.
What happens if I am completely satisfied with the package I was offered without negotiating?
If you accept an offer and are happy with it, there’s no reason to negotiate. However, it’s still essential to communicate clearly what the employer will offer in terms of things like performance-based bonuses or career-training reimbursements.
Can I negotiate my salary if I change careers entirely?
Negotiating your salary after changing career paths could require additional preparation due to the fact that your previous experiences might not translate or be a part of the new job. Learn about the salaries similar to those in related fields pay to gain a robust understanding of realistic expectations for you, considering the particular circumstances you face.
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