How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it requires you to balance what you believe you’re worth with the amount an employer believes they’ll be able to afford. However, if done correctly it can be a positive experience for both parties that results in a better salary for the employee, as well as greater employees’ engagement in their jobs. Here’s how you can negotiate your salary with confidence.
Principal Takeaways
- Before you negotiate your salary, research market rates and industry standards to ensure that the salary you request is reasonable.
- Find out information by the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Prepare talking points ahead of the time, including education and certification as well as years of relevant knowledge, accomplishments and achievements with a unique set of skills and qualities, industry knowledge, and training potential.
- During the negotiation, be confident and articulate but also flexible and open-minded. You should highlight tangible results you’ve had in your previous roles.
- Maintain a positive tone throughout the conversation, and be active in your listening.
Do your research
Before entering into any negotiations regarding salary, it’s essential to conduct a thorough investigation of standard industry rates and market rates to ensure that your salary request is realistic. The factors that could affect this may include your experience degree, size of the company as well as location. (?). One great way to gather information is to network with colleagues or other professionals who are in the same profession.
Research Online
With the help of online resources, such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. http://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 that companies offer for the exact job. It will provide you with an idea of the market rates and other facets of an employment.
Your Network Is Vital
Get insight from talking to friends who have held similar positions, or contacting them through professionals networks and brainstorming with members of professional organizations.
Prepare Talking points
Time spent preparing for any negotiations is always a good time spent. You’ll be more confident when the presentation of your case if have a clear set of talk points that you have outlined before the deadline.
Here are some instances of items you might want to think about including in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- The results and accomplishments
- A unique set of skills and characteristics (e.g. bilingualism)
- Industry-specific knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could also help during conversations so it is not lost important points.
Be confident & concise
When you negotiate your salary it is essential to be confident and articulate. Make sure you are clear about your past experiences of accomplishments and your expectations. It’s crucial to maintain a positive tone throughout this discussion so that the employer doesn’t feel like you’re appearing to be unfriendly.
The Key to Tangible Results
Simply stating that someone is driven, hardworking, and focused may not be enough to make an impactful appeal. Make sure to provide precise statistics about how your previous positions made a an impact in the workplace or how valuable are specific abilities that can benefit an organization.
Keep your mind open
If the employer cannot agree to your salary request or compensation plan in full being flexible and open can allow room for dialog. You could ask about alternative incentives like performance-based bonus arrangements instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation - no matter how well or badly it’s going fighting too much or imposing unreasonable demands is likely to lead to a negative outcome for everyone affected.
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 if at all while remaining in the spirit of your original request. The goal is to be able to reach a satisfactory conclusion.
Learn away from these conversations and apply it to future talks you’re likely to participate in. By following the suggestions above, you will go a long way towards maximizing your chances of achieving mutually beneficial outcomes.
| Your Network is Important | Speak to friends who have been in similar positions or reach out to the professional network in addition to brainstorming members of professional associations. |
| Plan talking points | Certification and education, Years of relevant work experience, results and accomplishments, Unique abilities and skills (e.g. the ability to speak two languages) Knowledge of the industry, ability to train |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Make sure you highlight tangible results. |
| Be flexible | Ask about alternative incentives like incentive structures based on performance rather than Base salary (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial as communicating in these kinds of conversations. Consider what you’ve learned from these discussions and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
The process involves negotiating and deciding on the compensation plan for a particular job. During this process you will be able to discuss not just the salary you earn, but also other benefits like health insurance, retirement plans and much more.
Why is it so important to negotiate salary?
Negotiating your pay can provide you a greater financial future and show you know your worth. It will also allow you to not leave money on the table.
When should I start negotiating a salary?
It is ideal to begin negotiations following the acceptance of an offer to ensure everyone is aware of the terms being negotiated. In this way, negotiations will focus on securing the best terms, while avoiding any unintentional surprises.
What happens if I am completely satisfied with the offer without any negotiation?
If you receive an offer and are pleased with it, there’s no reason to negotiate. However, it’s essential to be clear about what your employer’s expectations in terms of things like rewards based on performance or reimbursements for career training.
Can I negotiate my salary if I change careers entirely?
Negotiating your salary after changing careers may require more preparation due to the fact that your previous experiences might not translate or encapsulate new responsibilities. Research what similar roles in related fields pay in order to get a solid understanding of realistic expectations for you, considering the particular circumstances you face.
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