How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it requires you to balance what you consider your worth and what your employer believes they’re able to afford. If it’s done right it can be a positive experience for both parties that results in a better salary for the employee and a greater satisfaction for the employees in their work. Learn how to make your salary negotiation a success.
Principal Takeaways
- Before you negotiate your salary study market rates and industry standards to ensure your salary offer is fair.
- Collect information through networking with colleagues, using online tools like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Create talking points ahead of the time, including education and certifications, years of relevant experiences, achievements and results as well as unique skill sets and qualifications, industry knowledge and training opportunities.
- During the negotiation, be confident and clear, but be flexible and open. You should highlight tangible results you have achieved in previous positions.
- Maintain a positive tone throughout the conversation and make sure you are listening actively.
Do your research
Before you begin any pay negotiation, it’s crucial to conduct a thorough investigation of the market and standards in the industry to ensure that your salary suggestion is realistic. The factors that could affect this include levels of experience levels, the size of your company and the location of the company. (?). Another great method to gather information is through networking with colleagues and others within your profession.
Research Online
With the help of internet-based resources like [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 will get a more comprehensive information about the salary range that benchmarking businesses are providing for same role which will gives you an idea of the market rate and a few other facets of the job.
Your Network Is Vital
Find out more about your situation by talking with acquaintances who have had similar positions or reaching out via the professional networks and brainstorming with members of professional associations.
Plan talking points
Preparing for any meeting is time well spent. You’ll feel more confident in the presentation of your case if have a clear outline of your talking points before the deadline.
Here are a few suggestions of things that you might consider including in your salary negotiation:
- Education and certification
- Years of relevant experience
- Performances and results
- Unique skill set and qualities (e.g. the ability to speak two languages)
- Industry knowledge
- Potential for training
Also keeping notes/notebook handy can aid in conversations, so that you don’t miss any crucial points.
Be confident & concise
In a salary negotiation, it’s important to be confident and articulate. Talk clearly about your work experience, achievements and job expectations. It’s crucial to maintain an optimistic tone throughout the dialogue so that the person who is hiring you feels that you’re not seeming insecure.
Highlight Tangible Results
Simply stating one is ambitious, hardworking, and goal-oriented may not be enough for an strong appeal. Make sure to provide precise statistics on how previous roles made difference in companies or how valuable are specific capabilities that help an organisation.
Keep your mind open
If your employer cannot agree to your requested salary or compensation plan in full, remaining flexible and open-minded will allow for dialog. You can inquire about alternative incentives like performance-based bonus structures, instead of Base salary(? ).
Be sure remain professional throughout the negotiation process regardless of how well or poorly it’s going getting too defensive or imposing unreasonable demands could cause a negative result for everyone that is.
Practice active listening
Listening is as crucial as communicating during these types of conversations. Be attentive to the your counterpart during negotiations. Listen to requested amount carefully & clarifying questions if needed, but keeping to the what you originally requested. Ultimately both parties should be able to reach a satisfactory conclusion.
Use the lessons you’ve learned from these discussions and incorporate it into any future talks you’re likely to participate in. Applying the advice above goes a long way towards maximizing the chance of achieving positive outcomes that are mutually beneficial.
| Your network is important | Have a chat with friends who have held similar roles or reach out to the professional network as well as brainstorming members within professional organizations. |
| Make talking points | Certification and education, Years of relevant experience and achievements, Unique skills and characteristics (e.g. multilingualism) Know-how in the field, Potential for training |
| Be confident & concise | Speak clearly about your experiences your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Keep your mind open | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as speaking during these kinds of conversations. Consider what you’ve learned from these discussions and incorporate them into the future conversations you’ll probably be involved in. |
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Frequently asked questions
What is salary negotiation?
The process involves negotiating and finalizing the compensation package to be paid for your job. During this process it is possible to discuss not only your base salary but also benefits like retirement plans, health insurance as well as other benefits.
Why is it necessary to discuss salary?
Negotiating your pay can provide you a better financial future and show you’re confident about your worth. This can help you not leave money on the table.
What is the best time to negotiate a salary?
It’s best to begin negotiating immediately after receiving an offer so that all parties are informed of what’s being negotiated. Then, the discussions are focused on negotiating perfect terms while avoiding unexpected unpleasant surprises.
What if I am happy with the deal I received without negotiation?
If you receive an offer and you are satisfied with it, there’s probably no need to bargain. However, it’s essential to have transparent communication about what employers will provide in the form of performance-based bonuses or career-training reimbursements.
Can I negotiate salary when I change careers entirely?
The negotiation of salary for changing careers may require more training because your previous work experience might not directly translate or be a part of the new job. Find out what similar jobs in similar industries pay in order to get a solid knowledge of the realistic expectations you can set for yourself, given your particular situation.
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