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 what an employer thinks they’re able to afford. If done properly it could be a positive experience for both the employer and employee, which results in a higher salary for the employee as well as greater employees’ engagement in their jobs. Learn how to bargain your salary in confidence.
Important Takeaways
- Before you negotiate your salary, research market rates and industry standards to ensure your salary offer is fair.
- Collect information through connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education and certification and years of relevant knowledge, accomplishments and achievements, unique skill set & qualifications, industry knowledge and training potential.
- During the negotiation, be confident and articulate but also flexible and open. Show tangible results that you achieved in your previous positions.
- Maintain a positive tone throughout the conversation, and make sure you are listening actively.
Do your research
Before you enter any salary negotiation, it’s important to conduct a thorough study of market rates and industry standards to ensure that your salary suggestion is reasonable. Things that may affect the amount you are offered could be the level of experience, level, company size, and location (?). One great way to gather data is to connect with colleagues or other professionals who are in the same area of work.
Research Online
With the aid of internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. htm) you can get an extensive view of the salary range that benchmarking that companies offer for the exact role which will gives you an idea of current market rate plus few other elements that are related to a job.
Your Network is Essential
Find out more about your situation by talking with acquaintances who have had similar roles, or reaching out via professionally-oriented networks and brainstorming with members of professional associations.
Plan talking points
Preparing for any negotiation is always time well spent. You’ll feel more confident when making your case if you have a clearly defined outline of your talking points in advance.
Here are a few ideas of items you might want to think about to include in your salary negotiation:
- Education and certification
- Experience gained through years of relevant work
- Achievements and results
- A unique set of skills and characteristics (e.g. language proficiency,)
- Industry knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could also help during conversations so that one doesn’t miss any important points.
Be confident & concise
In a salary negotiation, it’s important to be confident and articulate. Speak clearly about your experiences, achievements and job expectations. It’s essential to maintain your tone of voice positive throughout the discussion so that the employer doesn’t feel like you’re seeming hostile.
Highlight Tangible Results
Simply stating that one is committed, hardworking, and goal-oriented may not be enough for an appealing appeal. It is important to present clear and precise data regarding the ways in which previous jobs made distinction in businesses or the value of specific skills that can benefit an organization.
Be flexible
If your employer isn’t able to your requested salary or compensation package Being flexible and open can help create space for dialog. You may be able to ask for alternative incentive options such as performance-based bonuses or models instead of Base salary(? ).
Be sure remain professional throughout the negotiation - regardless of how well or poorly it’s going being too combative or imposing unreasonable demands is likely to result in an unfavourable outcome for everyone that is.
Practice active listening
Listening is as crucial as speaking during these kinds of conversations. Pay attention to your counterpart during negotiations. Listen to requested amount carefully & clarifying doubts if at all while maintaining the initial request. Both parties should ultimately achieve satisfactory results.
Learn from these discussions and incorporate it into the next discussions you’ll probably be involved in. Following the tips above goes far in maximizing your chances of achieving mutually beneficial outcomes.
| Your Network is Important | Talk to your friends who have had similar experiences or connect with professional networks in addition to brainstorming members within professional organizations. |
| Prepare Talk points | Certification and education, Years of relevant work experience, results and accomplishments, Unique skills and characteristics (e.g. bi-lingualism) and industry knowledge. Training potential |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Use tangible results to highlight your achievements. |
| Keep your mind open | You can inquire about alternative incentives such as incentive structures based on performance rather than Base salary (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is equally as important as speaking during these kinds of conversations. Consider what you’ve learned away from these conversations and incorporate it into any future negotiations you’ll likely take part in. |
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Frequently Asked Questions
What is salary negotiation?
Negotiating salary is negotiating and deciding on the compensation package for a job. Through this process you are able to discuss more than only your base salary but also additional benefits such as health insurance, retirement plans as well as other benefits.
Why is it so important to bargain on salary?
Negotiating your salary could give you a greater financial future and show you are aware of your worth. It also helps you not leave money on the table.
When should I start negotiating my salary?
It is ideal to begin negotiations immediately after receiving an offer so everyone is aware of what is being discussed. So, negotiations are focused on securing ideal terms while avoiding unpleasant surprises.
What happens if I am satisfied with the offer without negotiation?
If you are offered a job and are content with it, there’s no reason to discuss it. But it’s important to be clear about what your employer’s expectations in terms of things like compensation for training or performance-based bonuses.
Do I have the option of negotiating my salary when changing careers?
Salary negotiation when changing careers may require more preparation because your past experience may not directly translate or relate to the new duties. Learn about the salaries similar to those in similar fields pay in order to get a solid knowledge of the realistic expectations you can set for yourself, in light of your particular situation.
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