How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be difficult to talk about, because it involves balancing what you think you’re worth versus what your employer believes they can afford. However, if done correctly it can be an enjoyable experience for both parties that 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, research market rates and industry standards to ensure the salary you request is reasonable.
- Gather information through the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education & certification, years of relevant experiences, achievements and results with a unique set of skills and capabilities, knowledge of the industry, and training potential.
- During the negotiation, be assertive and confident, yet flexible and open-minded. You should highlight tangible results you have achieved in previous roles.
- Keep a positive attitude throughout the conversation and be active in your listening.
Do your research
Prior to entering any salary negotiation, you need to conduct thorough research on standard industry rates and market rates to ensure that your salary request is realistic. Factors that might impact the amount you are offered could be your experience levels, the size of your company, and location (?). Another great method to gather information is through networking with colleagues or other professionals in your chosen area of work.
Research Online
With the aid of internet-based resources like [LinkedIn Salary] (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. Htm) you will get a an additional perspective on the benchmarking range of salary businesses are providing for same job. This gives you an idea of the market rate plus few other facets of an employment.
Your Network is Important
Learn more by talking to people who have had similar positions, or contacting them via professionally-oriented networks as well as brainstorming members of professional associations.
Plan Talk points
Preparing for any negotiation is always time well spent. You’ll be more confident when presenting your case if you have a set of talk points that you have outlined in advance.
Here are some instances of items you could consider when negotiating your salary:
- Education & certification
- Years of relevant experience
- The results and accomplishments
- A unique set of skills and characteristics (e.g. the ability to speak two languages)
- Know-how in the field
- Potential for training
The idea of keeping a notepad and/or notes handy could aid in conversations, so that one doesn’t forget any important information.
Be confident & concise
During a salary negotiation it is essential to be confident and clear. Make sure you are clear about your past experiences as well as your achievements and expectations for the job. It’s crucial to maintain an optimistic tone throughout the conversation to ensure that your employer feels like you’re not being aggressive.
Highlight the tangible results
Simply stating that one is driven, hardworking, and aspire-driven person may not be enough to make an strong appeal. Therefore, provide clear data regarding the ways in which previous jobs made significant difference to companies or how important are certain capabilities that can benefit an organization.
Be flexible
If your employer isn’t able to your requested salary or compensation package, remaining flexible and open-minded can allow room for dialog. You may be able to ask for alternative incentive options such as performance-based bonuses or arrangements instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process - regardless of how smoothly or poorly it’s going: fighting too much or making unreasonable demands could cause a negative result for all parties affected.
Practice active listening
Listening is just as important as speaking during these kinds of conversations. Pay attention to other party during negotiations hearing the amount requested carefully and clarifying doubts, if necessary, while gently sticking with their original request. The goal is to arrive at acceptable outcomes.
Consider the lessons you’ve learned away from these conversations and apply it to future discussions you’ll probably be involved in. Applying the advice above goes far in maximizing your chances of achieving positive, mutually beneficial results.
| Your network is important | Have a chat with friends who have been in similar positions or reach out to networking networks for professionals as well as brainstorming members within professional organizations. |
| Make talking points | Qualifications and training, Years of relevant experience, Results and achievements, Unique skill set and qualities (e.g., bilingualism) Know-how in the field, Training potential |
| Be confident & concise | Be clear about your experience, achievements and job expectations. Make sure you highlight tangible results. |
| Be flexible | Consider 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. You can take the lessons you’ve learned away from these conversations and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
Negotiating salary is negotiating and deciding on the compensation plan for a job. During this process it is possible to discuss not just your salary base, but also other benefits like retirement plans, health insurance and many more.
Why why is it important to negotiate salary?
Negotiating your salary could give you a better financial future as well as show that you’re confident about your worth. It also helps you avoid leaving money on the table.
When should I start negotiating a salary?
It is ideal to begin negotiations after you have received an offer, so everyone is conscious of what’s being negotiated. This way, the discussions are focused on negotiating optimal terms and avoid surprises.
What if I am happy with the offer without negotiation?
If you receive an offer and you are satisfied with the offer, then there’s no need to negotiate. But it’s important to have transparent communication about what the employer will offer in the form of compensation for training or performance-based bonuses.
Can I negotiate my salary if changing career paths entirely?
Negotiating salary when you change career paths could require additional planning because your prior experiences might not translate or encapsulate new responsibilities. Study what similar positions in similar industries offer to have a clear understanding of realistic expectations for yourself, in light of the specific circumstances.
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