How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an arduous process because it involves balancing what believe you’re worth with the amount an employer believes they’ll be able to afford. If done properly it could be positive for both the employer and employee, which results in a better salary for the employee and a greater employees’ engagement in their jobs. 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 your salary request is realistic.
- Gather information through connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Create talking points ahead of the time, including education and accreditation as well as years of relevant experience, results & achievements and unique skills qualifications, industry knowledge and training opportunities.
- During negotiations, be assertive and confident, yet flexible and open-minded. Highlight tangible results that you’ve achieved in your previous positions.
- Maintain a positive mood throughout the conversation, and be active in your listening.
Do your research
Before you enter any salary negotiation, you need to conduct a thorough investigation of market rates and industry standards to make sure your salary offer is reasonable. Factors that might impact this include experience levels, the size of your company, and location (?). One way to gather information is to make connections with your colleagues or those within your field of work.
Research Online
With the help of internet-based resources like [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https: //www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. Htm) you can obtain a more comprehensive information about the benchmarking range of salary businesses pay for the same job. This gives you an idea of the market prices and also other elements that are related to a job.
Your Network is Essential
Find out more about your situation by talking with colleagues who have been in similar positions or reaching out through the professional networks as well doing brainstorming professionals in professional organizations.
Make Talking points
Preparing for any negotiation is always well spent. You’ll be much more confident in the presentation of your case if have a clear set of talk points that you have outlined in advance.
Here are a few suggestions of items you might consider during your salary negotiation:
- Training and certification
- Years of relevant experience
- The results and accomplishments
- Unique skill set and qualities (e.g. bilingualism)
- Know-how in the field
- Potential for training
A notepad or notebook can also help during conversations so that you don’t miss any crucial points.
Be confident & concise
In a salary negotiation it’s crucial to appear confident and articulate. Be clear about your experience, achievements and job expectations. It’s crucial to maintain an optimistic tone throughout the discussion so that the person who is hiring you feels that you’re not seeming hostile.
Highlight Tangible Results
Simply stating that one is ambitious, hardworking, and focused may not be enough to create an impressive appeal. Therefore, provide clear data regarding the ways in which previous jobs made difference in companies or what are the most valuable capabilities that can benefit an organization.
Be flexible
If your employer cannot agree to your salary or compensation package, remaining flexible and open-minded can allow room for discussion. You can inquire about alternative incentives like performance-based bonus structures, instead of the Base salary(? ).
Make sure to remain professional during the negotiation process - no matter how well or badly it’s going being too combative or imposing unreasonable demands is likely to result in an unfavourable outcome for everyone who is involved.
Practice active listening
Listening is equally as important as speaking during these kinds of conversations. Be attentive to the other party during negotiations hearing specific requests and resolving questions if needed, but remaining in the spirit of your initial request. In the end, both parties must be able to reach a satisfactory conclusion.
Consider the lessons you’ve learned away from these conversations and incorporate it into any future negotiations you’ll likely take part in. Applying the advice above goes a long way towards maximizing your chances of achieving mutually beneficial outcomes.
| Your Network is Important | Speak to friends who’ve held similar roles or reach out to professional networks and brainstorming with members within professional organizations. |
| Plan talking points | Qualifications and training, Years of relevant work experience, results and achievements, unique abilities and skills (e.g. bi-lingualism) and industry knowledge. Potential for training |
| Be confident & concise | Talk clearly about your personal experiences your accomplishments and expectations for the job. Focus on tangible results. |
| Remain flexible | Ask about alternative incentives like performance-based bonus structures instead of Base salary (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. Consider what you’ve learned from these discussions and apply it to future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
The process involves discussing and finalizing the compensation package for a particular job. During this process, you can discuss not only the base salary, but also benefits like retirement plans, health insurance and many more.
Why is it important to negotiate salary?
Negotiating your salary will give you a better financial future and also show that you know your worth. It also helps you avoid putting money on the table.
What is the best time to negotiate a salary?
It is recommended to begin negotiations immediately after receiving an offer so everyone is conscious of what’s being discussed. So, discussions are focused on negotiating optimal terms and avoid unpleasant surprises.
What happens if I am completely satisfied with the offered package with no negotiation?
If you are offered a job and are pleased with the offer, then there’s no need to negotiate. However, it’s still essential to be clear about what your employer’s expectations regarding things such as the performance-based bonus or career-training reimbursements.
Can I negotiate my salary if changing career paths entirely?
Salary negotiation when changing career paths can require extra preparation due to the fact that your previous experience may not directly translate or overlap with new responsibilities. Find out what similar jobs in similar fields pay in order to get a solid understanding of realistic expectations for you, based on the specific circumstances.
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