How to Negotiate Salary for Your Next Career Move
A salary negotiation can be difficult to talk about, because it involves balancing what think you’re worth versus what the employer thinks they’re able to afford. If done properly, it can be an enjoyable experience for both parties that results in a better salary for the employee as well as greater satisfaction for the employees in their work. Here’s how you can make your salary negotiation a success.
Principal Takeaways
- Before you negotiate your salary study market rates and industry standards to confirm that your salary request is realistic.
- Find out information by connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Create talking points ahead of the time, including education and certification, years of relevant experiences, achievements and results and unique skills qualities, industry knowledge, and training opportunities.
- During the negotiation, be confident and clear, but be flexible and open-minded. Bring out tangible results you achieved in your previous positions.
- Maintain a positive tone throughout the conversation, and make sure you are listening actively.
Do your research
Before entering into any pay negotiation, it’s crucial to conduct thorough research on market rates and industry standards to ensure that your salary request is reasonable. Factors that might impact this could include the level of experience, degree, size of the company as well as location. (?). One great way to gather information is to make connections with colleagues and others within your profession.
Research Online
Utilizing online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can obtain a more comprehensive information about the benchmarking range of salary businesses are providing for same role which will gives you an idea of the market rate plus few other elements that are related to the position.
Your Network is Essential
Gain insight by speaking to friends who have held similar positions, or contacting them via professionally-oriented networks in addition to brainstorming members of professional associations.
Plan Talking points
Time spent preparing for any negotiations is always a good time spent. You’ll feel more confident when the presentation of your case if are prepared with a specific set of talk points that you have outlined in advance.
Here are a few suggestions of things you may want to consider including in your salary negotiation:
- Certification and education
- Years of relevant experience
- Results and achievements
- Particular skill set and traits (e.g. bilingualism)
- Know-how in the field
- Training potential
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure that one doesn’t miss any important information.
Be confident & concise
In a salary negotiation it is essential to be confident and articulate. Make sure you are clear about your past experiences accomplishments, your job goals and achievements. It is important to keep your tone of voice positive throughout the conversation to ensure that your employer doesn’t feel like you’re being insecure.
Highlight the tangible results
Simply saying that you are ambitious, hardworking, and goal-oriented may not be enough to create an impressive appeal. Therefore, provide clear data about how your previous positions made a difference in companies or how valuable are specific skills that can benefit an organization.
Keep your mind open
If your employer isn’t able to agree to your salary request or compensation package, remaining flexible and open-minded can help create space for dialog. You could ask about alternative incentive options such as performance-based bonuses or structures instead of Base salary(? ).
You must remain professional throughout the negotiation process regardless of how smoothly or badly it’s going getting too defensive or making unreasonable demands could result in an unfavourable outcome for everybody who is involved.
Practice active listening
Listening is as crucial as communicating in these types of conversations. Listen attentively from the other party during negotiations hearing requests carefully and clarifying doubts as much as you can while gently sticking with initial request. Ultimately both parties should come out with acceptable results.
Consider the lessons you’ve learned away from these conversations and incorporate it into any future talks you’re likely to participate in. By following the suggestions above, you will go an enormous way to increasing the chance of achieving positive, mutually beneficial results.
| Your Network is Important | Contact friends and acquaintances who have had similar experiences or reach out via professional networks as well as brainstorming members of professional associations. |
| Prepare Talk points | Training and certification, years of relevant experience and accomplishments, unique skill set and qualities (e.g. multilingualism) Knowledge of the industry, Training potential |
| Be confident & concise | Talk clearly about your personal experiences your accomplishments and expectations for the job. Focus on tangible results. |
| Stay flexible | You can inquire about alternative incentives such as the performance-based bonuses instead of Base salary (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is just as important as communicating in these kinds of conversations. Learn away from these conversations and incorporate them into future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
Negotiating salary is negotiating and deciding on the compensation plan for a position. When you negotiate this you are able to discuss more than just the salary you earn, but also other benefits like health insurance, retirement plans and many more.
Why why is it important to discuss salary?
Negotiating your salary will give you a better financial outlook and show you are aware of your worth. This can help you avoid putting money on the table.
When should I begin to negotiate the salary?
It is ideal to begin negotiations immediately after receiving an offer so everyone is aware of what is being discussed. Then, the negotiations will be focused on securing optimal terms and avoid unintentional surprises.
What happens if I am satisfied with the offered package with no negotiation?
If you accept an offer and are pleased with the offer, then there’s no reason to discuss it. However, it’s essential to provide clear information 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 your salary after changing careers may require more training because your previous work experience might not directly translate or be a part of the new job. Learn about the salaries similar to those in similar industries pay to gain a robust idea of what realistic expectations are for yourself, given the specific circumstances.
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