How to Negotiate Salary for Your Next Career Move
A salary negotiation can be a difficult conversation, as it involves balancing what believe you’re worth with the amount an employer believes they’re able to pay. However, if done correctly it can be positive for both sides that results in a higher pay for the employee and greater employees’ engagement in their jobs. Here’s how you can negotiate your salary with confidence.
Principal Takeaways
- Before you make a salary offer, research market rates and industry standards to ensure your salary request is realistic.
- Get information from the networking of colleagues, using websites like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Create talking points ahead of time, including education and certifications in the form of years of relevant work knowledge, accomplishments and achievements, unique skill set & capabilities, knowledge of the industry, and training opportunities.
- During the negotiation, be confident and clear, but be flexible and open-minded. Highlight tangible results that you’ve achieved in your previous roles.
- Maintain a positive tone throughout the conversation and be active in your listening.
Do your research
Before you enter any salary negotiation, it’s important to conduct a thorough study of standard industry rates and market rates to make sure that your salary proposal is reasonable. Factors that might impact this may include levels of experience levels, the size of your company, and location (?). A great method of gathering information is to make connections with your colleagues or those who are in the same field of work.
Research Online
Utilizing internet-based resources like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. htm) you can get more substantial approach towards the salary range that benchmarking companies pay for the same job. This gives you an idea of the current market rates and other facets of a job.
Your Network Is Essential
Get insight from talking to friends who have held similar positions or reaching out via professionally-oriented networks and brainstorming with members of professional organizations.
Plan talking points
The time spent in preparing for a negotiation is always time well spent. You’ll be more confident when making your case if you have a set of talking points outlined in advance.
Here are a few suggestions of items you could consider including in your salary negotiation:
- Education & certification
- Years of relevant experience
- Results and achievements
- A unique set of skills and characteristics (e.g. language proficiency,)
- Knowledge of the industry
- Training potential
The idea of keeping a notepad and/or notes handy could be helpful during conversations so that one doesn’t forget any important points.
Be confident & concise
In a negotiation for a salary it is essential to be confident and clear. Speak clearly about your experiences, achievements and job expectations. It is important to keep a positive attitude throughout this conversation so that the employer isn’t being hostile.
Show tangible results
Simply stating that someone is driven, hardworking, and goal-oriented may not be enough to generate an impactful appeal. Make sure to provide precise statistics about how your previous positions made a significant difference to companies or how valuable are specific capabilities which benefit organisation
Remain flexible
If your employer isn’t able to agree to your salary request or compensation package outright being flexible and open will allow for discussions. You could ask about alternative rewards, like performance-based bonus models instead of Base salary(? ).
Keep your cool throughout the negotiation process - regardless of how smoothly or not: Being too aggressive or making unreasonable demands could result in an unfavourable outcome for everyone who is involved.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Pay attention to other party during negotiations hearing the amount requested carefully and clarifying questions if needed, but keeping to the original request. In the end, both parties must achieve satisfactory results.
Take what you have learned away from these conversations and incorporate it into any future talks you’re likely to participate in. Following the tips above goes in the right direction to increase your chances of achieving mutually beneficial outcomes.
| Your network is important | Speak to friends who have been in similar positions or connect with professionally-oriented networks and brainstorming with members of professional associations. |
| Make Talk points | Education & certification, Years of relevant experience, Performance and accomplishments, unique skill set and qualities (e.g. multilingualism) Know-how in the field, Potential for training |
| Be confident & concise | Talk clearly about your personal experiences your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Remain flexible | Ask about alternative incentives like performance-based bonus structures instead of Base salary (?). You must remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as speaking during these kinds of conversations. Consider what you’ve learned from these conversations and incorporate them into future conversations you’ll probably be involved in. |
Are you ready for your next career shift? Take a look at out Taupo Resume ‘s services today!
Frequently Answered Questions
What is the concept of salary negotiation?
Negotiating salary is negotiating and deciding on the compensation package to be paid for your job. During this process you will be able to discuss not only the base salary, but also additional benefits such as retirement plans, health insurance as well as other benefits.
Why is it necessary to bargain on salary?
Negotiating your pay can provide you a more secure financial future and also show that you are aware of your worth. It also helps you keep money off the table.
When should I begin to negotiate my salary?
It is recommended to begin negotiations following the acceptance of an offer to ensure everyone is aware of what is being negotiated. So, discussions are focused on negotiating the best terms, while avoiding any surprise.
What happens if I am satisfied with the deal I received with no negotiation?
If you get an offer and are happy with the offer, then there’s no reason to discuss it. But it’s important to have transparent communication about what your employer’s expectations regarding things such as rewards based on performance or reimbursements for career training.
Can I negotiate my salary if switching careers completely?
Negotiating your salary after changing careers may require more planning because your prior experiences may not be directly applicable or encapsulate new responsibilities. Find out what similar jobs in related industries pay to gain a robust idea of what realistic expectations are for yourself, given the particular circumstances you face.
Ready for your next career change? Explore the services of our Taupo Resume ‘s services today!
