How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it is about balancing what you think you’re worth versus the amount an employer believes they’re able to afford. But, if it’s done correctly it can result in positive for both the employer and employee, which results in a better salary for the employee and greater engagement of the employee in their job. Here’s how to make your salary negotiation a success.
Important Takeaways
- Before you negotiate your salary study market rates and industry standards to ensure that your salary proposal is realistic.
- Find out information by connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Create talking points ahead of the time, including education and certificates as well as years of relevant experience, the results and achievements with a unique set of skills and qualifications, industry knowledge and the potential for further training.
- During the negotiation, you must be assured and confident but remain flexible and open-minded. Highlight tangible results that you’ve achieved in your previous roles.
- Keep a positive attitude throughout the conversation and practice active listening.
Do your research
Before you enter any pay negotiation, it’s crucial to do thorough research on the market and standards in the industry to make sure your salary offer is reasonable. Factors that might impact the amount you are offered could be the level of experience, degree, size of the company and geographical location. (?). One way to gather information is to network with colleagues or others in your chosen job field.
Research Online
With the help of online resources such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. htm) you can obtain a more substantial approach towards the benchmarking range of salaries businesses are providing for same job. It will provide you with an idea about current market rate plus few other factors related to the job.
Your Network Is Essential
Find out more about your situation by talking with friends who have held similar roles, or reaching out via the professional networks as well as brainstorming members of professional organizations.
Plan Talking points
Time spent preparing for any negotiations is always a good time spent. You’ll feel more confident when making your case if you have a outline of your talking points 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
- The results and accomplishments
- Unique set of skills and attributes (e.g. bilingualism)
- Knowledge of the industry
- Potential for training
A notepad or notebook can assist during conversations to ensure that one doesn’t miss any important points.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and clear. Talk clearly about your work experience, achievements and job expectations. It is important to keep a positive tone throughout this discussion so that the person who is hiring you feels that you’re not appearing to be unfriendly.
Highlight the tangible results
Simply stating that one is driven, hardworking, and goal-oriented may not be enough to make an impressive appeal. Make sure to provide precise statistics regarding how prior roles have made a difference in companies or the value of specific capabilities which benefit organisation
Remain flexible
If your employer isn’t able to your salary request or compensation plan in full being flexible and open can help create space for discussions. You can inquire about alternatives to incentives, such as performance-based bonus arrangements instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process regardless of how smoothly or poorly it’s going Being too aggressive or imposing unreasonable demands is likely to have a negative impact for everyone who is involved.
Practice active listening
Listening is just as important as communicating during these types of conversations. Pay attention to any other participant during negotiations, observing specific requests and resolving doubts as much as you can while keeping to the initial request. Both parties should ultimately be able to reach a satisfactory conclusion.
Use the lessons you’ve learned away from these conversations and incorporate it into any future discussions you’ll probably be involved in. Following the tips above goes an enormous way to increasing the chances of achieving an agreement that is mutually beneficial.
| Your network is important | Contact friends and acquaintances who’ve held similar roles or reaching out through professional networks in addition to brainstorming members within professional organizations. |
| Make talking points | Qualifications and training, Years of relevant experience, Results and achievements, Unique skill set and qualities (e.g., bilingualism), Industry knowledge, Potential for training |
| Be confident & concise | Speak clearly about your experiences as well as your achievements and expectations. Focus on tangible results. |
| Remain flexible | Find out about other incentives, such as performance-based bonus structures instead of Base salary. (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as communicating during these types 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 the concept of salary negotiation?
Negotiating salary is negotiating and finalizing the compensation package for a job. When you negotiate this, 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 discuss salary?
Negotiating your pay can provide you a greater financial future and also show that you’re aware of what you’re worth. It can also help you not leave money on the table.
When should I begin to negotiate for a raise?
It is recommended to begin negotiations immediately after receiving an offer so everyone is aware of what is being discussed. Then, the negotiations are focused on securing the best terms, while avoiding any unpleasant surprises.
What if I am content with the offer with no negotiation?
If you accept an offer and are happy with it, there’s probably no need to bargain. However, it’s essential to communicate clearly what the employers are willing to offer with regards to things like compensation for training or performance-based bonuses.
Can I negotiate my salary if I change careers entirely?
Negotiating salary when you change career paths may require added planning because your prior experiences may not be directly applicable or encapsulate new responsibilities. Research what similar roles in related industries pay to gain a robust knowledge of the realistic expectations you can set for you, considering your specific circumstances.
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