How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it requires you to balance what you think you’re worth versus the amount an employer believes they’ll be able to afford. But, if it’s done correctly it can be positive for both parties, resulting in a better salary for the employee and greater employee engagement in their work. Here’s how you can negotiate your salary with confidence.
Principal Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to confirm that the salary you request is reasonable.
- Collect information through networking with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Plan your talk points ahead of time, including education & certifications as well as years of relevant experience, the results and achievements and unique skills qualities, industry knowledge, and potential for training.
- In the course of negotiations, you should be confident and articulate but also flexible and open-minded. You should highlight tangible results you’ve achieved in your previous positions.
- Keep a positive and upbeat tone throughout the conversation and make sure you are listening actively.
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. Things that may affect the amount you are offered could be experience level, company size, and location (?). A great method of gathering information is through networking with colleagues or other professionals who are in the same area of work.
Research Online
With the help of some online sources, like [LinkedIn Salary] (https http://www. linkedin. com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) You can find a more substantial approach towards the range of benchmarking salaries companies pay for the same job. It will provide you with an idea of the current market rate and a few other facets of the position.
Your Network is Vital
Find out more about your situation by talking with colleagues who have been in similar roles or reaching out through professionals networks in addition to brainstorming professionals in professional organizations.
Make Talk points
The time spent in preparing for a negotiations is always a good time spent. You’ll be more confident in presenting your case if you have a clearly defined outline of your talking points prior to the time.
Here are a few ideas of things you might want to think about including in your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- Results and achievements
- Unique set of skills and attributes (e.g. bilingualism)
- Industry knowledge
- Potential for training
A notepad or notebook can be helpful during conversations so that you don’t miss any crucial points.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and articulate. Talk clearly about your work experience, achievements and job expectations. It’s essential to maintain an optimistic tone throughout the discussion so that the employer feels like you’re not coming across as insecure.
Show tangible results
Simply stating that one is committed, hardworking, and goal-oriented may not be enough to make an appealing appeal. So put forward clear statistics regarding the ways in which previous jobs made difference in companies or what are the most valuable qualities that benefit the organization.
Keep your mind open
If the employer isn’t able to your requested salary or compensation package being flexible and open can allow room for dialog. It is possible to inquire about alternative incentives like performance-based bonus models instead of Base salary(? ).
You must remain professional throughout the negotiation - regardless of how successfully or not: being too combative or making 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. Listen attentively from the any other participant during negotiations, observing specific requests and resolving doubts as much as you can while keeping to the initial request. Ultimately both parties should arrive at acceptable outcomes.
Take what you have learned from these discussions and incorporate them into future talks you’re likely to participate in. The tips mentioned above will go far in maximizing the chance of achieving positive, mutually beneficial results.
| Your network is important | Contact friends and acquaintances who have held similar roles or reach out via professionally-oriented networks as well as brainstorming members within professional organizations. |
| Plan talking points | Education & certification, Years of relevant experience, Results and accomplishments, Unique skill set and qualities (e.g., bilingualism) and industry knowledge. ability to train |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Highlight Tangible Results. |
| Stay flexible | Find out about other incentives, such as bonuses based on performance instead of Base salary. (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as speaking during these kinds of conversations. Take what you have learned from these conversations and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently Answered Questions
What is salary negotiation?
The process involves negotiating and deciding on the compensation package for a job. In this negotiation it is possible to discuss not only your base salary but also additional benefits such as retirement plans, health insurance and much more.
Why is it so important to negotiate a salary?
Negotiating your salary could give you a better financial future and also show that you’re confident about your worth. It can also help you keep money off the table.
When should I begin to negotiate a salary?
It is best to begin negotiations after you have received an offer, so that everyone is conscious of what’s being discussed. In this way, negotiations will focus on securing ideal terms while avoiding surprises.
What if I am happy with the offer without negotiating?
If you get an offer and are pleased with it, there may be no need to negotiate. It’s nevertheless important to have transparent communication about what the employers are willing to offer with regards to things like compensation for training or performance-based bonuses.
Do I have the option of negotiating my salary when changing career paths entirely?
Negotiating your salary after changing career paths can require extra preparation due to the fact that your previous experience might not directly translate or overlap with new responsibilities. Learn about the salaries similar to those in similar industries pay, to develop a thorough knowledge of the realistic expectations you can set for you, based on the specific circumstances.
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