How to Negotiate Salary for Your Next Career Move
A salary negotiation can be difficult to talk about, because it requires you to balance what you consider your worth and what the employer thinks they’re able to pay. However, if done correctly it can be a positive experience for both parties that results in a greater salary for the employee as well as greater engagement of the employee in their job. Learn how to bargain your salary in confidence.
Important Takeaways
- Before you make a salary offer study market rates and industry standards to ensure your salary request is realistic.
- Collect information through socializing with colleagues, using online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Plan your talk points ahead of the time, including education and certificates and years of relevant experience, the results and achievements with a unique set of skills and abilities, industry expertise, and training opportunities.
- During the negotiation, be assertive and confident, yet flexible and open. You should highlight tangible results you achieved in your previous positions.
- Maintain a positive tone throughout the conversation and engage in active listening.
Do your research
Before you enter any negotiations regarding salary, it’s essential to conduct a thorough investigation of current market rates and industry standards to ensure that your salary suggestion is reasonable. Things that may affect this may include experience degree, size of the company and geographical location. (?). One great way to gather information is through networking with colleagues or others who are in the same job field.
Research Online
Utilizing online sources, like [LinkedIn Salary] (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. Htm) You can find a more substantial approach towards the benchmarking range of salary that companies offer for the exact job. This will give you an idea of the market rate plus few other factors related to an employment.
Your Network Is Vital
Get insight from talking to acquaintances who have had similar roles or reaching out through professionally-oriented networks as well doing brainstorming members within professional organizations.
Prepare talking points
The time spent in preparing for a negotiation is always well spent. You’ll be much more confident in making your case if you have a set of talk points that you have outlined ahead of time.
Here are a few suggestions of what you may want to consider including in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Achievements and results
- Particular skill set and traits (e.g. the ability to speak two languages)
- Know-how in the field
- Potential for training
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure that you don’t miss any crucial points.
Be confident & concise
During a salary negotiation it is essential to be confident and clear. Speak clearly about your experiences accomplishments, your job goals and achievements. It is important to keep an optimistic tone throughout the discussion so that the employer isn’t appearing to be unfriendly.
The Key to Tangible Results
Simply saying that you are committed, hardworking, and goal-oriented might not be enough to create an impressive appeal. Therefore, provide clear data about how your previous positions made a an impact in the workplace or what are the most valuable qualities which benefit organisation
Remain flexible
If the employer isn’t able to agree to your salary request or compensation package being flexible and open can allow room for discussions. It is possible to inquire about alternative rewards, like performance-based bonus arrangements instead of Base salary(? ).
Keep your cool throughout the negotiation process - regardless of how successfully or poorly it’s going getting too defensive or imposing unreasonable demands can result in an unfavourable outcome for all parties who is involved.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Pay attention to any other participant during negotiations, observing specific requests and resolving questions if needed, but maintaining the what you originally requested. In the end, both parties must arrive at acceptable outcomes.
Use the lessons you’ve learned from these discussions and incorporate it into the next negotiations that you’re likely to be involved in. By following the suggestions above, you will go in the right direction to increase the chance of achieving positive outcomes that are mutually beneficial.
| Your Network is Important | Speak to friends who have held similar roles or connect with the professional network in addition to brainstorming members of professional associations. |
| Create Talk points | Training and certification, years of relevant experience and accomplishments, Unique abilities and skills (e.g., bilingualism) Know-how in the field, ability to train |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Highlight Tangible Results. |
| Keep your mind open | You can inquire about alternative incentives such as performance-based bonus structures instead of Base salary (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial in these types of conversations. Learn away from these conversations and incorporate it into any future discussions you’ll likely be involved in. |
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Frequently Asked Questions
What is salary negotiation?
Negotiating salary is negotiating and finalizing the compensation package to be paid for your job. Through this process, you can discuss not only the base salary, but also other benefits, such as health insurance, retirement plans and much more.
Why is it necessary to bargain on salary?
Negotiating your salary will give you a more secure financial future and show you’re confident about your worth. This can help you not leave money on the table.
When should I begin to negotiate for a raise?
It is ideal to begin negotiations after you have received an offer, so everyone is aware of what is being negotiated. Then, the negotiations will be focused on securing optimal terms and avoid surprise.
What if I am happy with the deal I received without negotiating?
If you receive an offer and are content with the offer, then there’s no reason to negotiate. However, it’s still essential to communicate clearly what the employers are willing to offer in terms of things like the performance-based bonus or career-training reimbursements.
Can I negotiate my salary if switching careers completely?
Negotiating salary when you change career paths can require extra training because your previous work experience might not directly translate or relate to the new duties. Learn about the salaries similar to those in related fields pay, to develop a thorough comprehension of realistic expectations for yourself, given your specific circumstances.
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