How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be difficult to talk about, because it involves balancing what consider your worth and what an employer thinks they’re able to pay. However, if done correctly it can result in a positive experience for both the employer and employee, which results in a higher pay for the employee as well as greater engagement of the employee in their job. Here’s how you can negotiate your salary with confidence.
Key Takeaways
- Before you negotiate your salary study market rates and industry standards to ensure your salary offer is fair.
- Find out information by connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Plan your talk points ahead of time, including education and certification, years of relevant experiences, achievements and results and unique skills qualities, industry knowledge, and training potential.
- During the negotiation, be confident and articulate but also flexible and open. Show tangible results that you achieved in your previous positions.
- Keep a positive attitude throughout the conversation and engage in active listening.
Do your research
Before you begin any negotiations regarding salary, it’s essential to do thorough research on current market rates and industry standards to ensure that your salary suggestion is reasonable. Factors that might impact the amount you are offered could be your experience levels, the size of your company as well as location. (?). A great method of gathering information is to make connections with your colleagues or those who are in the same field of work.
Research Online
With the help of internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a an extensive view of the benchmarking range of salaries that companies offer for the exact job. This gives you an idea about current market rates and other elements that are related to the position.
Your Network is Vital
Learn more by talking to people who have had similar positions, or contacting them via the professional networks in addition to brainstorming members within professional organizations.
Make Talking points
Preparing for any negotiation is always well spent. You’ll feel much more confident when giving your argument if you have a clear set of talk points that you have outlined prior to the time.
Here are some suggestions of things that you could consider including in your salary negotiation:
- Education and certification
- Years of relevant experience
- Achievements and results
- Particular skill set and traits (e.g. the ability to speak two languages)
- Industry knowledge
- Training potential
A notepad or notebook can also help during conversations so that one doesn’t forget any crucial points.
Be confident & concise
When you negotiate your salary it is essential to be confident and clear. Speak clearly about your experiences accomplishments, your job goals and achievements. It’s essential to maintain a positive attitude throughout this conversation so that the employer feels like you’re not appearing to be hostile.
Highlight Tangible Results
Simply stating that someone is determined, hardworking and focused may not be enough to create an impressive appeal. Make sure to provide precise statistics on how previous roles made an impact in the workplace or what are the most valuable capabilities that help an organisation.
Stay flexible
If the employer isn’t able to agree to your salary or compensation arrangement, remaining flexible and open-minded will allow for dialog. It is possible to inquire about alternative rewards, like performance-based bonus arrangements instead of the Base salary(? ).
Keep your cool throughout the negotiation - no matter how well or poorly it’s going: Being too aggressive or making unreasonable demands can result in an unfavourable outcome for everybody involved.
Practice active listening
Listening is as crucial as communicating during these types of conversations. Do listen actively from any other participant during negotiations, observing requests carefully and clarifying doubts if at all while gently sticking with their original request. In the end, both parties must arrive at acceptable outcomes.
Consider the lessons you’ve learned from these discussions and incorporate them into future talks you’re likely to participate in. By following the suggestions above, you will go far in maximizing the chance of achieving mutually beneficial outcomes.
| Your network is important | Speak to friends who have held similar roles or connect with professionally-oriented networks as well doing brainstorming members of professional associations. |
| Plan talking points | Education & certification, Years of relevant experience, Results and achievements, Unique skill set and qualities (e.g. bi-lingualism) Knowledge of the industry, ability to train |
| Be confident & concise | Talk clearly about your personal experiences accomplishments, job goals and achievements. Use tangible results to highlight your achievements. |
| Remain flexible | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is equally as important in these types of conversations. Consider what you’ve learned from these conversations and incorporate them into future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is salary negotiation?
Negotiating salary is negotiating and deciding on the compensation package for a job. In this negotiation you are able to discuss more than just your salary base, but also other benefits, such as retirement plans, health insurance and many more.
Why is it necessary to negotiate salary?
Negotiating your pay can provide you a better financial future as well as show that you are aware of your worth. It can also help you avoid leaving money on the table.
How soon should I negotiate my salary?
It is recommended to begin negotiations after receiving an offer so that everyone is informed of what’s being negotiated. This way, the negotiations are focused on securing optimal terms and avoid unintentional surprises.
What happens if I am satisfied with the offered package with no negotiation?
If you get an offer and are pleased with it, then there’s no reason to bargain. However, it’s essential to communicate clearly what employers will provide in the form of compensation for training or performance-based bonuses.
Can I negotiate salary when changing careers?
The negotiation of salary for changing careers may require more planning because your prior experience might not directly translate or overlap with new responsibilities. Study what similar positions in similar industries pay, to develop a thorough comprehension of realistic expectations for you, based on your specific circumstances.
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