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’re able to pay. If it’s done right 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 make a salary offer take a look at market rates and industry standards to make sure that your salary proposal is realistic.
- Collect information through socializing with 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 and accreditation in the form of years of relevant work knowledge, accomplishments and achievements with a unique set of skills and qualifications, industry knowledge and training potential.
- During the negotiation, be confident and clear, but be flexible and open-minded. You should highlight tangible results you’ve had in your previous roles.
- Maintain a positive tone throughout the conversation, and practice active listening.
Do your research
Before you begin any salary negotiation, you need to conduct a thorough investigation of current market rates and industry standards to make sure your salary offer is realistic. Factors that might impact this may include the level of experience, level, company size and geographical location. (?). Another great method to gather data is to connect with colleagues and others within your profession.
Research Online
With the help of some 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: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) You can find a an additional perspective on the range of benchmarking salaries businesses pay for the same job. It will provide you with an idea about current market rates and other aspects related to the position.
Your Network Is Important
Get insight from talking to friends who have held similar positions, or contacting them through professional networks as well doing brainstorming members within professional organizations.
Prepare Talk points
Preparing for a negotiations is always a good time spent. You’ll be more confident in presenting your case if you have a clear set of talk points that you have outlined prior to the time.
Here are a few examples of things you may want to consider during your salary negotiation:
- Training and certification
- Years of relevant experience
- Results and achievements
- A unique set of skills and characteristics (e.g. language proficiency,)
- Know-how in the field
- Potential for training
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 is essential to be confident and articulate. Talk clearly about your work experience of accomplishments and your expectations. It is important to keep a positive attitude throughout this conversation to ensure that your employer doesn’t feel like you’re appearing to be hostile.
The Key to Tangible Results
Simply stating one is driven, hardworking, and goal-oriented might not be enough to generate an impressive appeal. Make sure to provide precise statistics about how your previous positions made a difference in companies or what are the most valuable abilities that benefit the organization.
Keep your mind open
If your employer isn’t able to agree to your requested salary or compensation package being flexible and open can help create space for dialogue. You could ask about alternatives to incentives, such as performance-based bonus arrangements instead of Base salary(? ).
Be sure remain professional during the negotiation process - no matter how well or not: getting too defensive or imposing unreasonable demands could lead to a negative outcome for everybody that is.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Do listen actively from your counterpart during negotiations. Listen to requests carefully and clarifying doubts, if necessary, while maintaining the their original request. Ultimately both parties should come out with acceptable results.
Consider the lessons you’ve learned from these discussions and incorporate it into any future negotiations that you’re likely to be involved in. Following the tips above goes in the right direction to increase your chances of reaching positive, mutually beneficial results.
| Your Network is Important | Talk to your friends who have been in similar positions or reaching out through networking networks for professionals as well as brainstorming members within professional organizations. |
| Plan Talk points | Training and certification, years of relevant experience, Results and achievements, Unique abilities and skills (e.g. bi-lingualism), Industry knowledge, ability to train |
| Be confident & concise | Be clear about your experience, achievements and job expectations. Highlight Tangible Results. |
| Remain flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary. (?). You must remain professional during the negotiation. |
| Practice active listening | Listening is equally as important as communicating in these kinds of conversations. Learn away from these conversations and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently Answered Questions
What is salary negotiation?
It is the act of negotiating and deciding on the compensation plan for a particular job. During this process you are able to discuss more than only the base salary, but also benefits like health insurance, retirement plans as well as other benefits.
Why why is it important to discuss salary?
Negotiating your salary could give you a better financial outlook as well as indicate that you’re confident about your worth. It will also allow you to keep money off the table.
How soon should I negotiate a salary?
It is recommended to begin negotiations after you have received an offer, so everyone is informed of what’s being negotiated. Then, the discussions are focused on negotiating perfect terms while avoiding unexpected surprise.
What if I am happy with the package I was offered without any negotiation?
If you receive an offer and are pleased with it, there may be no need to negotiate. But it’s important to communicate clearly what the employer will offer with regards to things like compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? I change careers entirely?
Negotiating your salary after changing career paths may require added planning because your prior experience might not directly translate or encapsulate new responsibilities. Study what similar positions in related industries pay to gain a robust idea of what realistic expectations are for yourself, in light of the particular circumstances you face.
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