How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be a difficult conversation, as it requires you to balance what you think you’re worth versus the amount an employer believes they’re able to afford. However, if done correctly it could be an enjoyable experience for both sides that results in a higher salary for the employee and a greater employees’ engagement in their jobs. Here’s how you can negotiate your salary confidently.
Principal Takeaways
- Before you make a salary offer take a look at market rates and industry standards to make sure that your salary proposal is realistic.
- Collect information through socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of time, including education & certificates, years of relevant experience, results & achievements and unique skills capabilities, knowledge of the industry, and potential for training.
- In the course of negotiations, you should be confident and clear, but be flexible and open-minded. Show tangible results that you have achieved in previous roles.
- Keep a positive and upbeat tone throughout the conversation, and be active in your listening.
Do your research
Before entering into any salary negotiation, it’s important to conduct thorough research on current market rates and industry standards to ensure that your salary suggestion is realistic. Factors that might impact this may include your experience degree, size of the company and the location of the company. (?). Another great method to gather information is to make connections with colleagues and others within your field of work.
Research Online
Utilizing internet-based resources like [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https http://www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. Htm) you can get more substantial approach towards the benchmarking range of salaries that companies offer for the exact job. This will give you an idea of current market rate and a few other facets of the job.
Your Network is Important
Learn more by talking to acquaintances who have had similar roles, or reaching out through the professional networks and brainstorming with professionals in professional organizations.
Create Talking points
Time spent preparing for any negotiations is always a good time spent. You’ll feel more confident when making your case if you have a outline of your talking points prior to the time.
Here are some suggestions of items you may want to consider when negotiating your salary:
- Education and certification
- Years of relevant experience
- Achievements and results
- Unique set of skills and attributes (e.g. bilingualism)
- Know-how in the field
- Training potential
Notes and notebooks can aid in conversations, so that you don’t miss any important points.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and articulate. Be clear about your experience, achievements and job expectations. It’s important to maintain a positive attitude throughout this discussion so that the employer doesn’t feel like you’re seeming aggressive.
Show tangible results
Simply saying that you are driven, hardworking, and goal-oriented might not be enough to make 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 capabilities that can benefit an organization.
Be flexible
If your employer cannot agree to your requested salary or compensation plan in full Being flexible and open will help open the door to dialog. You may be able to ask for alternatives to incentives, such as performance-based bonus structures instead of the Base salary(? ).
You must remain professional throughout the negotiation - regardless of how smoothly or poorly it’s going being too combative or imposing unreasonable demands will likely lead to a negative outcome for everyone who is involved.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Listen attentively from the any other participant during negotiations, observing the amount requested carefully and clarifying doubts, if necessary, while maintaining the what you originally requested. Ultimately both parties should achieve satisfactory results.
Use 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 a long way towards maximizing the chances of achieving an agreement that is mutually beneficial.
| Your Network is Important | Contact friends and acquaintances who have been in similar positions or reach out via networking networks for professionals as well doing brainstorming members within professional organizations. |
| Plan Talk points | Certification and education, Years of relevant experience, Performance and achievements, Unique skills and characteristics (e.g. multilingualism), Industry knowledge, Potential for training |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Make sure you highlight tangible results. |
| Keep your mind open | Ask about alternative incentives like bonuses based on performance instead of Base salary. (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial as speaking during these kinds of conversations. Learn 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?
It is the act of negotiating and deciding on the compensation plan for a position. Through this process you are able to discuss more than just the salary you earn, but also other benefits like health insurance, retirement plans, and more.
Why is it necessary to negotiate a salary?
Negotiating your pay can provide you a greater financial future as well as show that you’re confident about your worth. It will also allow you to avoid leaving money on the table.
How soon should I negotiate the salary?
It is ideal to begin negotiations immediately after receiving an offer so that everyone is informed of what’s being negotiated. This way, the negotiations will focus on securing optimal terms and avoid surprise.
What happens if I am satisfied with the deal I received without negotiating?
If you get an offer and are happy with the offer, then there may be no need to discuss it. However, it’s still essential to have transparent communication about what the employers are willing to offer with regards to things like performance-based bonuses or career-training reimbursements.
Can I negotiate my salary if switching careers completely?
The negotiation of salary for changing career paths may require added training because your previous work experiences may not be directly applicable or be a part of the new job. Research what similar roles in similar fields pay, to develop a thorough knowledge of the realistic expectations you can set for yourself, given the particular circumstances you face.
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