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’re able to afford. But, if it’s done correctly it could be positive for both parties that results in a greater salary for the employee, as well as greater employee engagement in their work. Learn how to negotiate your salary with confidence.
Key Takeaways
- Before you make a salary offer study market rates and industry standards to make sure that your salary request is realistic.
- Find out information by connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Make a list of talking points ahead time, including education & accreditation in the form of years of relevant work experience, the results and achievements as well as unique skill sets and qualifications, industry knowledge and training potential.
- In the course of negotiations, you should be assertive and confident, yet flexible and open. You should highlight tangible results you achieved in your previous positions.
- Keep a positive and upbeat tone throughout the conversation and be active in your listening.
Do your research
Before you enter any negotiations regarding salary, it’s essential to do thorough research on current market rates and industry standards to ensure that your salary suggestion is reasonable. Some factors that can affect this could include the level of experience, degree, size of the company as well as location. (?). One way to gather information is to make connections with colleagues or other professionals within your field of work.
Research Online
With the aid of internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a more comprehensive information about the range of benchmarking salaries businesses are providing for same job. This gives you an idea about current market rate plus few other factors related to an employment.
Your Network is Essential
Get insight from talking to colleagues who have been in similar roles or reaching out through professionals networks as well as brainstorming members of professional associations.
Plan Talk points
Time spent preparing for any meeting is time well spent. You’ll be much more confident in making your case if you have a set of talk points that you have outlined prior to the time.
Here are some instances of what you may want to consider during your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- Results and achievements
- Unique skill set and qualities (e.g. bilingualism)
- Knowledge of the industry
- Training potential
Notes and notebooks can assist during conversations to ensure that you don’t miss any important points.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and clear. Speak clearly about your experiences, achievements and job expectations. It is important to keep an optimistic tone throughout the discussion so that the employer feels like you’re not appearing to be aggressive.
Show tangible results
Simply stating one is determined, hardworking and goal-oriented may not be enough for an impressive appeal. It is important to present clear and precise data regarding the ways in which previous jobs made an impact in the workplace or how important are certain capabilities which benefit organisation
Be flexible
If your employer isn’t able to your salary or compensation package outright Being flexible and open can help create space for dialog. You may be able to ask for alternative incentive options such as performance-based bonuses or structures, instead of Base salary(? ).
Keep your cool throughout the negotiation - regardless of how successfully or badly it’s going Being too aggressive or making unreasonable demands will likely cause a negative result for everyone that is.
Practice active listening
Listening is just as important as speaking during these kinds of conversations. Listen attentively from the any other participant during negotiations, observing requested amount carefully & clarifying doubts as much as you can while remaining in the spirit of your initial request. Ultimately both parties should be able to reach a satisfactory conclusion.
Take what you have learned away from these conversations and apply it to future negotiations you’ll likely take part in. Following the tips above goes in the right direction to increase the chances of achieving mutually beneficial outcomes.
| Your network is important | Contact friends and acquaintances who have been in similar positions or reach out to networking networks for professionals as well as brainstorming members of professional associations. |
| Plan Talk points | Qualifications and training, Years of relevant experience, Results and achievements, Unique abilities and skills (e.g. multilingualism) Knowledge of the industry, the potential for training |
| Be confident & concise | Be clear about your experience your accomplishments and expectations for the job. Highlight Tangible Results. |
| Remain flexible | Ask about alternative incentives like incentive structures based on performance rather than Base salary (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is just as important as communicating in these kinds of conversations. You can take the lessons you’ve learned from these conversations and incorporate it into any future conversations you’ll probably be involved in. |
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Frequently Asked Questions
What is salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation package for a position. When you negotiate this it is possible to discuss not just your salary base, but also additional benefits such as health insurance, retirement plans and much more.
Why is it necessary to bargain on salary?
Negotiating your pay can provide you a more secure financial future as well as show that 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 recommended to begin negotiations following the acceptance of an offer to ensure that everyone is aware of what is being negotiated. Then, the negotiations will be focused on securing perfect terms while avoiding unexpected unintentional surprises.
What if I am content with the deal I received without any negotiation?
If you receive an offer and are happy with it, there’s probably no need to bargain. It’s nevertheless important to have transparent communication about what the employers are willing to offer in the form of the performance-based bonus or career-training reimbursements.
Can I negotiate my salary if I change careers entirely?
Negotiating salary when you change careers may require more training because your previous work experience might not directly translate or encapsulate new responsibilities. Find out what similar jobs in similar fields pay, to develop a thorough knowledge of the realistic expectations you can set for you, based on the specific circumstances.
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