How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it involves balancing what believe you’re worth with what your employer believes they can afford. If it’s done right it can be an enjoyable experience for both the employer and employee, which results in a greater salary for the employee and a greater employee engagement in their work. Here’s how to make your salary negotiation a success.
Important Takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure that your salary offer is fair.
- Collect information through networking with colleagues, using online tools like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Plan your talk points ahead of time, including education and certificates and years of relevant knowledge, accomplishments and achievements with a unique set of skills and qualities, industry knowledge, and training potential.
- During negotiations, be assertive and confident, yet flexible and open-minded. Highlight tangible results that you’ve had in your previous positions.
- Maintain a positive tone throughout the conversation and be active in your listening.
Do your research
Prior to entering any negotiations regarding salary, it’s essential to conduct a thorough study of standard industry rates and market rates to ensure that your salary suggestion is reasonable. Things that may affect this may include experience degree, size of the company, and location (?). A great method of gathering data is to connect with your colleagues or those who are in the same area of work.
Research Online
With the help of some online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) you can get more substantial approach towards the range of benchmarking salaries businesses are providing for same job. This will give you an idea about current market prices and also other facets of an employment.
Your Network Is Vital
Find out more about your situation by talking with colleagues who have been in similar roles or reaching out through the professional networks as well doing brainstorming members of professional organizations.
Prepare talking points
Preparing for any negotiation is always time well spent. You’ll feel more confident in presenting your case if you have a clear outline of your talking points in advance.
Here are some suggestions of things that you could consider including in your salary negotiation:
- Education and certification
- Years of relevant experience
- Performances and results
- Particular skill set and traits (e.g. bilingualism)
- Knowledge of the industry
- Potential for training
Notes and notebooks can be helpful during conversations so that one doesn’t miss any important details.
Be confident & concise
In a negotiation for a salary 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 a positive attitude throughout this discussion so that the employer feels like you’re not seeming hostile.
Show tangible results
Simply stating one is driven, hardworking, and goal-oriented might not be enough for an strong appeal. It is important to present clear and precise data regarding the ways in which previous jobs made significant difference to companies or the value of specific qualities which benefit organisation
Keep your mind open
If the employer isn’t able to agree to your salary or compensation package, remaining flexible and open-minded can help create space for dialogue. You can inquire about alternative incentives like performance-based bonus structures instead of Base salary(? ).
Keep your cool throughout the negotiation process - regardless of how well or not: fighting too much or making unreasonable demands will likely lead to a negative outcome for all parties who is involved.
Practice active listening
Listening is equally as important as speaking during these kinds of conversations. Pay attention to other party during negotiations hearing specific requests and resolving doubts, if necessary, while remaining in the spirit of your initial request. In the end, both parties must arrive at acceptable outcomes.
Use the lessons you’ve learned from these conversations and apply it to future discussions you’ll probably be involved in. Following the tips above goes far in maximizing your chances of achieving positive outcomes that are mutually beneficial.
| Your network is important | Have a chat with friends who have been in similar positions or reach out to professional networks as well as brainstorming members of professional associations. |
| Create Talk points | Education & certification, Years of relevant experience, Performance and accomplishments, Unique ability and traits (e.g. the ability to speak two languages) and industry knowledge. the potential for training |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Use tangible results to highlight your achievements. |
| Keep your mind open | Find out about other incentives, such as the performance-based bonuses instead of Base salary (?). Keep your professional conduct during the negotiation process. |
| Practice active listening | Listening is equally as important in these types of conversations. Take what you have learned from these discussions and incorporate them into the future discussions you’ll likely be involved in. |
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Frequently Asked Questions
What is the concept of salary negotiation?
The process involves discussing and finalizing the compensation package for a position. When you negotiate this, you can discuss not only your base salary but also additional benefits such as health insurance, retirement plans and many more.
Why is it important to bargain on salary?
Negotiating your salary could give you a greater financial future and also 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’s best to begin negotiating following the acceptance of an offer to ensure everyone is aware of the terms being discussed. In this way, negotiations are focused on securing the best terms, while avoiding any surprises.
What if I am happy with the deal I received without negotiation?
If you are offered a job and you are satisfied with the offer, then there’s probably no need to discuss it. It’s nevertheless important to provide clear information about what your employer’s expectations in the form of compensation for training or performance-based bonuses.
Can I negotiate salary when I change careers entirely?
Salary negotiation when changing career paths can require extra preparation due to the fact that your previous experiences may not be directly applicable or overlap with new responsibilities. Research what similar roles in similar industries offer to have a clear knowledge of the realistic expectations you can set for you, based on the particular circumstances you face.
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