How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it involves balancing what you believe you’re worth with the amount an employer believes they’ll be able to afford. But, if it’s done correctly it could be positive for both parties, resulting in a higher salary for the employee and greater employee engagement in their work. 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.
- Get information from the networking of colleagues, using online tools like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of the time, including education and accreditation and years of relevant experience, the results and achievements and unique skills qualifications, industry knowledge and training opportunities.
- In the course of negotiations, you should be assertive and confident, yet flexible and open-minded. Show tangible results that you’ve had in your previous positions.
- Maintain a positive tone 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 market rates and industry standards to make sure that your salary proposal is realistic. Some factors that can affect the amount you are offered could be levels of experience level, company size and the location of the company. (?). Another great method to gather data is to connect with your colleagues or those in your chosen field of work.
Research Online
With the help of online sources, like [LinkedIn Salary] (https: //www. linkedin. https://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a more comprehensive information about the range of benchmarking salaries businesses are providing for same role which will gives you an idea of the market rates and other facets of the position.
Your Network Is Important
Find out more about your situation by talking with people who have had similar positions, or contacting them through professionals networks as well doing brainstorming members of professional organizations.
Prepare talking points
Preparing for any negotiation is always time well spent. You’ll feel more confident when making your case if you have a set of talking points outlined prior to the time.
Here are a few examples of items you may want to consider including in your salary negotiation:
- Certification and education
- Years of relevant experience
- Results and achievements
- Particular skill set and traits (e.g. language proficiency,)
- Know-how in the field
- Training potential
The idea of keeping a notepad and/or notes handy could be helpful during conversations so that you don’t miss any important details.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and articulate. Make sure you are clear about your past experiences, achievements and job expectations. It is important to keep your tone of voice positive throughout the discussion so that the employer doesn’t feel like you’re appearing to be unfriendly.
Show tangible results
Simply stating that one is driven, hardworking, and goal-oriented might not be enough to generate an impactful appeal. So put forward clear statistics on how previous roles made significant difference to companies or the value of specific abilities that help an organisation.
Be flexible
If your employer isn’t able to your requested salary or compensation plan in full, remaining flexible and open-minded can help create space for dialogue. You could ask about alternative rewards, like performance-based bonus structures instead of Base salary(? ).
Keep your cool during the negotiation process - no matter how well or badly it’s going being too combative or making unreasonable demands can lead to a negative outcome for everybody that is.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Pay attention to another party while you negotiate, listening to the requested amount carefully & clarifying doubts if at all while keeping to the initial request. In the end, both parties must be able to reach a satisfactory conclusion.
Consider the lessons you’ve learned from these discussions and incorporate it into any future talks you’re likely to participate in. Following the tips above goes far in maximizing your chances of reaching positive, mutually beneficial results.
| Your Network is Important | Talk to your friends who have been in similar positions or reach out via professionally-oriented networks as well as brainstorming members within professional organizations. |
| Plan talking points | Certification and education, Years of relevant experience and accomplishments, Unique ability and traits (e.g. the ability to speak two languages) Knowledge of the industry, ability to train |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Highlight Tangible Results. |
| Remain flexible | You can inquire about alternative incentives such as incentive structures based on performance rather than Base salary (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally as important as speaking during these kinds of conversations. Take what you have learned away from these conversations and incorporate them into future negotiations you’ll likely take part in. |
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Frequently Asked Questions
What is salary negotiation?
It is the act of negotiating and finalizing the compensation package for a particular job. In this negotiation you are able to discuss more than just the salary you earn, but also other benefits like health insurance, retirement plans as well as other benefits.
Why is it important to negotiate a salary?
Negotiating your salary can give you a better financial future as well as show that you are aware of your worth. It will also allow you to avoid putting money on the table.
When should I start negotiating a salary?
It is ideal to begin negotiations following the acceptance of an offer to ensure everyone is conscious of what’s being discussed. In this way, negotiations will focus on securing the best terms, while avoiding any surprises.
What if I am content with the package I was offered without negotiating?
If you are offered a job and are pleased with it, there may be no need to discuss it. However, it’s essential to have transparent communication about what the employer will offer in terms of things like the performance-based bonus or career-training reimbursements.
Can I negotiate salary when I change careers entirely?
Negotiating your salary after changing career paths can require extra training because your previous work experiences may not be directly applicable or encapsulate new responsibilities. Study what similar positions in related fields pay in order to get a solid idea of what realistic expectations are for yourself, in light of the specific circumstances.
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