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 think you’re worth versus the amount an employer believes they can afford. If it’s done right, it can be positive for both the employer and employee, which results in a higher pay for the employee, as well as greater satisfaction for the employees in their work. Learn how to make your salary negotiation a success.
Important Takeaways
- Before you make a salary offer, research market rates and industry standards to ensure your salary request is realistic.
- Get information from socializing with colleagues, using online tools like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education & certifications in the form of years of relevant work experience, the results and achievements, unique skill set & qualities, industry knowledge, and potential for training.
- During negotiations, be confident and articulate but also flexible and open-minded. Bring out tangible results you have achieved in previous roles.
- Maintain a positive tone throughout the conversation, and be active in your listening.
Do your research
Before you begin any salary negotiation, it’s important to conduct a thorough investigation of the market and standards in the industry to ensure that your salary suggestion is realistic. Factors that might impact the amount you are offered could be the level of experience, levels, the size of your company and the location of the company. (?). A great method of gathering information is to network with colleagues and others within your profession.
Research Online
With the help of some online resources, such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https: //www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can obtain a more substantial approach towards the benchmarking range of salary that companies offer for the exact job. This gives you an idea of the current market rate plus few other elements that are related to the position.
Your Network Is Essential
Get insight from talking to people who have had similar positions, or contacting them via professional networks as well doing brainstorming members within professional organizations.
Create Talking points
Time spent preparing for any negotiation is always well spent. You’ll be more confident in the presentation of your case if are prepared with a specific set of talk points that you have outlined prior to the time.
Here are some examples of what you could consider to include in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- The results and accomplishments
- Particular skill set and traits (e.g. language proficiency,)
- Industry knowledge
- Training potential
The idea of keeping a notepad and/or notes handy could be helpful during conversations so it is not lost important points.
Be confident & concise
When you negotiate your salary it’s crucial to appear confident and articulate. Make sure you are clear about your past experiences as well as your achievements and expectations for the job. It is important to keep an optimistic tone throughout the conversation so that the employer doesn’t feel like you’re appearing to be hostile.
The Key to Tangible Results
Simply saying that you are committed, hardworking, and goal-oriented might not be enough to generate an strong appeal. So put forward clear statistics about how your previous positions made a significant difference to companies or what are the most valuable qualities that benefit the organization.
Remain flexible
If the employer isn’t able to your salary request or compensation arrangement Being flexible and open will help open the door to discussions. You could ask about alternative incentive options such as performance-based bonuses or structures instead of the Base salary(? ).
You must remain professional throughout the negotiation - no matter how well or poorly it’s going: getting too defensive or imposing unreasonable demands is likely to result in an unfavourable outcome for everyone that is.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Listen attentively from the any other participant during negotiations, observing the amount requested carefully and clarifying doubts if at all while remaining in the spirit of your original request. The goal is to come out with acceptable results.
Learn away from these conversations and incorporate it into any future negotiations that you’re likely to be involved in. Following the tips above goes far in maximizing your chances of achieving positive outcomes that are mutually beneficial.
| Your Network is Important | Talk to your friends who have been in similar positions or connect with professional networks in addition to brainstorming members of professional associations. |
| Plan talking points | Education & certification, Years of relevant experience, Results and accomplishments, unique abilities and skills (e.g. bi-lingualism) Know-how in the field, ability to train |
| Be confident & concise | Talk clearly about your personal experiences your accomplishments and expectations for the job. Highlight Tangible Results. |
| Be flexible | Find out about other incentives, such as bonuses based on performance instead of Base salary (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is just as important as communicating in these kinds of conversations. Learn away from these conversations and apply it to future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is salary negotiation?
The process involves discussing and finalizing the compensation package for a job. Through this process you will be able to discuss not only the base salary, but also additional benefits such as health insurance, retirement plans, and more.
Why is it important to negotiate salary?
Negotiating your salary could give you a better financial outlook as well as show that you’re aware of what you’re worth. This can help you avoid putting money on the table.
What is the best time to negotiate for a raise?
It is ideal to begin negotiations following the acceptance of an offer to ensure that all parties are aware of the terms being discussed. So, negotiations will be focused on securing the best terms, while avoiding any unpleasant surprises.
What if I am happy with the offered package with no negotiation?
If you are offered a job and are content with it, there’s no reason to negotiate. It’s nevertheless important to be clear about what your employer’s expectations in the form of compensation for training or performance-based bonuses.
Do I have the option of negotiating my salary when switching careers completely?
Negotiating salary when you change career paths can require extra preparation due to the fact that your previous experiences may not be directly applicable or relate to the new duties. Learn about the salaries similar to those in related industries offer to have a clear idea of what realistic expectations are for yourself, in light of the particular circumstances you face.
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