How to Negotiate Salary for Your Next Career Move
Negotiating your salary is difficult to talk about, because it requires you to balance what you consider your worth and the amount an employer believes they can afford. If done properly, it can be positive for both the employer and employee, which results in a greater salary for the employee as well as greater engagement of the employee in their job. Learn how to negotiate your salary confidently.
The most important takeaways
- Before you make a salary offer study market rates and industry standards to ensure that your salary offer is fair.
- Collect information through socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and contacting professional networks.
- Make a list of talking points ahead time, including education and certificates, years of relevant experience, results & achievements, unique skill set & qualities, industry knowledge, and training opportunities.
- In the course of negotiations, you should be confident and clear, but be flexible and open-minded. Show tangible results that you’ve had in your previous positions.
- Keep a positive and upbeat tone throughout the conversation, and be active in your listening.
Do your research
Before entering into any salary negotiation, it’s important to conduct thorough research on market rates and industry standards to make sure that your salary proposal is realistic. Some factors that can affect the amount you are offered could be the level of experience, degree, size of the company and geographical location. (?). Another great method to gather information is through networking with colleagues or others who are in the same job field.
Research Online
With the help of internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a more comprehensive information about the salary range that benchmarking businesses are providing for same job. It will provide you with an idea of current market rate plus few other aspects related to the job.
Your Network is Important
Gain insight by speaking to acquaintances who have had similar roles or reaching out via the professional networks as well as brainstorming professionals in professional organizations.
Make Talk points
Time spent preparing for any negotiation is always time well spent. You’ll be much more confident in presenting your case if you have a set of talking points outlined before the deadline.
Here are a few ideas of things you might consider when negotiating your salary:
- Training and certification
- Experience gained through years of relevant work
- The results and accomplishments
- A unique set of skills and characteristics (e.g., bilingualism)
- Knowledge of the industry
- Potential for training
Notes and notebooks can be helpful during conversations so that one doesn’t forget any important points.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and articulate. Make sure you are clear about your past experiences of accomplishments and your expectations. It’s crucial to maintain a positive attitude throughout this conversation so that the employer doesn’t feel like you’re being unfriendly.
The Key to Tangible Results
Simply saying that you are ambitious, hardworking, and focused may not be enough to make an strong appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made difference in companies or what are the most valuable capabilities that benefit the organization.
Stay flexible
If the employer cannot agree to your salary request or compensation plan in full Being flexible and open will help open the door to dialogue. It is possible to inquire about alternative incentive options such as performance-based bonuses or structures, instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation - regardless of how smoothly or badly it’s going Being too aggressive or making unreasonable demands could have a negative impact for all parties involved.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Pay attention to any other participant during negotiations, observing requested amount carefully & clarifying questions if needed, but keeping to the original request. In the end, both parties must come out with acceptable results.
Use the lessons you’ve learned from these conversations and incorporate it into any future negotiations that you’re likely to be involved in. Applying the advice above goes far in maximizing the chances of achieving positive, mutually beneficial results.
| Your Network is Important | Talk to your friends who have held similar roles or reach out via networking networks for professionals as well doing brainstorming members within professional organizations. |
| Create Talk points | Education & certification, Years of relevant experience and achievements, Unique ability and traits (e.g. bi-lingualism) Know-how in the field, Potential for training |
| Be confident & concise | Speak clearly about your experiences accomplishments, job goals and achievements. Focus on tangible results. |
| Stay flexible | Find out about other incentives, such as the performance-based bonuses instead of Base salary (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. You can take the lessons you’ve learned away from these conversations and apply it to future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation package for a particular job. Through this process you will be able to discuss not only the base salary, but also additional benefits such as retirement plans, health insurance, and more.
Why is it important to negotiate a salary?
Negotiating your salary could give you a better financial outlook as well as show that you’re aware of what you’re worth. It also helps you keep money off the table.
What is the best time to negotiate for a raise?
It is recommended to begin negotiations after you have received an offer, so that everyone is conscious of what’s being negotiated. So, negotiations will be focused on securing optimal terms and avoid unpleasant surprises.
What happens if I am completely satisfied with the offer without negotiation?
If you are offered a job and are pleased with it, there’s no need to bargain. It’s nevertheless important to provide clear information about what the employers are willing to offer in terms of things like rewards based on performance or reimbursements for career training.
Do I have the option of negotiating my salary when changing careers?
Salary negotiation when changing career paths could require additional training because your previous work experiences might not translate or relate to the new duties. Research what similar roles in related fields pay in order to get a solid knowledge of the realistic expectations you can set for yourself, given the particular circumstances you face.
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