How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an extremely difficult process, since it requires you to balance what you believe you’re worth with what the employer thinks they’re able to afford. If done properly it could be positive for both the employer and employee, which results in a higher pay for the employee as well as greater employee engagement in their work. Here’s how to negotiate your salary confidently.
Principal Takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to ensure that your salary request is realistic.
- Get information from socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Prepare talking points ahead of time, including education & certifications as well as years of relevant knowledge, accomplishments and achievements as well as unique skill sets and abilities, industry expertise, and training potential.
- During negotiations, be assertive and confident, yet flexible and open-minded. You should highlight tangible results you achieved in your previous roles.
- Keep a positive attitude throughout the conversation, and make sure you are listening actively.
Do your research
Before you enter any salary negotiation, it’s important to do thorough research on current market rates and industry standards to make sure that your salary proposal is realistic. The factors that could affect this may include levels of experience levels, the size of your company and the location of the company. (?). A great method of gathering information is to make connections with colleagues or others within your area of work.
Research Online
With the help of internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a more comprehensive information about the salary range that benchmarking businesses pay for the same job. This will give you an idea of the market rates and other aspects related to a job.
Your Network is Vital
Get insight from talking to people who have had similar positions, or contacting them via professional networks and brainstorming with members within professional organizations.
Make Talking points
Preparing for a 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 suggestions of things you may want to consider to include in your salary negotiation:
- Education & certification
- Years of relevant experience
- Performances and results
- Unique set of skills and attributes (e.g. bilingualism)
- Industry-specific knowledge
- Training potential
A notepad or notebook can aid in conversations, so that one doesn’t forget any important points.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and articulate. Speak clearly about your experiences of accomplishments and your expectations. It’s important to maintain an optimistic tone throughout the discussion so that the employer feels like you’re not seeming hostile.
The Key to Tangible Results
Simply stating that someone is committed, hardworking, and focused may not be enough to make an impressive appeal. So put forward clear statistics about how your previous positions made a significant difference to companies or the value of specific abilities that benefit the organization.
Be flexible
If the employer cannot agree to your salary or compensation package outright Being flexible and open can help create space for discussion. You may be able to ask for alternative incentive options such as performance-based bonuses or structures instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process - no matter how well or poorly it’s going: being too combative or making unreasonable demands is likely to cause a negative result for everyone involved.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Pay attention to another party while you negotiate, listening to the specific requests and resolving doubts as much as you can while remaining in the spirit of your what you originally requested. In the end, both parties must arrive at acceptable outcomes.
Take what you have learned away from these conversations and incorporate them into future negotiations that you’re likely to be involved in. By following the suggestions above, you will go a long way towards maximizing the chances of achieving positive, mutually beneficial results.
| Your Network is Important | Speak to friends who have had similar experiences or reach out via networking networks for professionals and brainstorming with members within professional organizations. |
| Create Talk points | Qualifications and training, Years of relevant experience, Performance and achievements, unique skill set and qualities (e.g. multilingualism) Know-how in the field, Potential for training |
| Be confident & concise | Make sure you are clear about your experience as well as your achievements and expectations. Focus on tangible results. |
| Be flexible | You can inquire about alternative incentives such as incentive structures based on performance rather than Base salary (?). You must remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important in these types of conversations. Take what you have learned from these discussions and incorporate them into future discussions you’ll likely be involved in. |
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Frequently Asked Questions
What is salary negotiation?
Salary negotiation is the process of negotiating and finalizing the compensation package for a position. When you negotiate this you will be able to discuss not just the salary you earn, but also benefits like retirement plans, health insurance as well as other benefits.
Why is it necessary to negotiate salary?
Negotiating your salary will give you a greater financial future and show you know your worth. It will also allow you to not leave money on the table.
How soon should I negotiate my salary?
It is best to begin negotiations immediately after receiving an offer so that all parties are conscious of what’s being negotiated. In this way, negotiations will be focused on securing optimal terms and avoid unpleasant surprises.
What if I am happy with the deal I received with no negotiation?
If you receive an offer and are happy with the offer, then there’s no reason to discuss it. But it’s important to communicate clearly what employers will provide with regards to things like performance-based bonuses or career-training reimbursements.
Can I negotiate my salary if changing career paths entirely?
Negotiating your salary after changing careers may require more preparation due to the fact that your previous experience might not directly translate or encapsulate new responsibilities. Study what similar positions in similar fields pay, to develop a thorough knowledge of the realistic expectations you can set for yourself, in light of the particular circumstances you face.
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