How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an arduous process because it involves balancing what believe you’re worth with what an employer thinks they can afford. If done properly it could be an enjoyable experience for both parties, resulting in a higher pay for the employee and a greater satisfaction for the employees in their work. Here’s how to bargain your salary in confidence.
The most important takeaways
- Before you make a salary offer study market rates and industry standards to ensure the salary you request is reasonable.
- Collect information through connecting with colleagues through online resources such as LinkedIn Salary and Glassdoor, and contacting professional networks.
- Make a list of talking points ahead time, including education and certifications, years of relevant experience, the results and achievements with a unique set of skills and qualities, industry knowledge, and training opportunities.
- During the negotiation, be confident and clear, but be flexible and open. You should highlight tangible results you have achieved in previous positions.
- Maintain a positive mood throughout the conversation and engage in active listening.
Do your research
Prior to entering any salary negotiation, you need to conduct a thorough study of current market rates and industry standards to make sure your salary offer is realistic. Things that may affect this could include the level of experience, level, company size, and location (?). Another great method to gather information is to network with your colleagues or those who are in the same field of work.
Research Online
With the help of online resources, such as [LinkedIn Salary] (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. htm) you can get an extensive view of the benchmarking range of salaries businesses pay for the same job. This will give you an idea of the current market prices and also other elements that are related to a job.
Your Network Is Vital
Find out more about your situation by talking with colleagues who have been in similar positions, or contacting them via the professional networks as well as brainstorming members of professional organizations.
Prepare talking points
Preparing for a negotiations is always a good time spent. You’ll feel more confident in giving your argument if you have a list of points to discuss ahead of time.
Here are some suggestions of things you could consider to include in your salary negotiation:
- Training and certification
- Years of relevant experience
- Results and achievements
- A unique set of skills and characteristics (e.g. language proficiency,)
- Industry-specific knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could also help during conversations so that you don’t miss any important points.
Be confident & concise
When you negotiate your salary, it’s important to be confident and articulate. Make sure you are clear about your past experiences, achievements and job expectations. It’s important to maintain a positive attitude throughout this dialogue so that the person who is hiring you feels that you’re not appearing to be aggressive.
Show tangible results
Simply stating that someone is committed, hardworking, and aspire-driven person may not be enough for an impressive appeal. So put forward clear statistics regarding the ways in which previous jobs made difference in companies or how valuable are specific abilities that benefit the organization.
Keep your mind open
If your employer isn’t able to agree to your requested salary or compensation arrangement, remaining flexible and open-minded can help create space for dialogue. You could ask about alternative incentive options such as performance-based bonuses or structures, instead of Base salary(? ).
Be sure remain professional throughout the negotiation process no matter how well or badly it’s going being too combative or imposing unreasonable demands will likely lead to a negative outcome for all parties that is.
Practice active listening
Listening is equally as important as speaking during these kinds of conversations. Do listen actively from any other participant during negotiations, observing requests carefully and clarifying doubts, if necessary, while gently sticking with original request. Both parties should ultimately be able to reach a satisfactory conclusion.
Learn from these discussions and incorporate them into future negotiations you’ll likely take part in. The tips mentioned above will go a long way towards maximizing your chances of achieving positive outcomes that are mutually beneficial.
| Your network is important | Talk to your friends who have had similar experiences or reach out via networking networks for professionals in addition to brainstorming members of professional associations. |
| Prepare talking points | Education & certification, Years of relevant experience, Results and accomplishments, unique skill set and qualities (e.g. multilingualism), Industry knowledge, Training potential |
| Be confident & concise | Talk clearly about your personal experiences accomplishments, job goals and achievements. Use tangible results to highlight your achievements. |
| Be flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is just as important as speaking during these kinds of conversations. Take what you have learned away from these conversations and apply it to future conversations you’ll probably be involved in. |
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Frequently asked questions
What is salary negotiation?
The process involves negotiating and deciding on the compensation plan to be paid for your job. During this process you are able to discuss more than just the salary you earn, but also benefits like retirement plans, health insurance, and more.
Why is it necessary to negotiate salary?
Negotiating your salary could give you a better financial outlook and show you know your worth. It can also help you avoid leaving money on the table.
When should I start negotiating my salary?
It is best to begin negotiations immediately after receiving an offer so everyone is informed of what’s being negotiated. In this way, negotiations will be focused on securing ideal terms while avoiding unintentional surprises.
What if I am happy with the package I was offered without any negotiation?
If you accept an offer and are happy with it, there’s probably no need to negotiate. But it’s important to be clear about what your employer’s expectations regarding things such as rewards based on performance or reimbursements for career training.
Can I negotiate salary when changing career paths entirely?
Negotiating your salary after changing career paths can require extra preparation due to the fact that your previous experience may not directly translate or relate to the new duties. Research what similar roles in similar industries offer to have a clear understanding of realistic expectations for you, based on your specific circumstances.
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