How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an arduous process because it involves balancing what you believe you’re worth with what your employer believes they’ll be able to afford. If done properly it could be a positive experience for both parties that results in a greater salary for the employee, as well as greater engagement of the employee in their job. Here’s how you can bargain your salary in confidence.
Key Takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to ensure that your salary request is realistic.
- Find out information by socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of the time, including education and accreditation in the form of years of relevant work knowledge, accomplishments and achievements with a unique set of skills and capabilities, knowledge of the industry, and training opportunities.
- 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 and upbeat tone throughout the conversation and practice active listening.
Do your research
Before you begin any salary negotiation, you need to conduct a thorough study of market rates and industry standards to ensure that your salary suggestion is realistic. Some factors that can affect the amount you are offered could be your experience degree, size of the company and geographical location. (?). One great way to gather data is to connect with your colleagues or those within your job field.
Research Online
With the help of online resources, such as [LinkedIn Salary] (https http://www. linkedin. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a an additional perspective on the range of benchmarking salaries that companies offer for the exact job. It will provide you with an idea about current market rate plus few other facets of the job.
Your Network is Vital
Get insight from talking to people who have had similar positions, or contacting them via professional networks in addition to brainstorming members of professional associations.
Create Talking points
Time spent preparing for any meeting is time well spent. You’ll be more confident in giving your argument if you have a clear list of points to discuss prior to the time.
Here are some suggestions of what you may want to consider during your salary negotiation:
- Training and certification
- Years of relevant experience
- The results and accomplishments
- Particular skill set and traits (e.g. language proficiency,)
- Industry-specific knowledge
- Potential for training
A notepad or notebook can assist during conversations to ensure it is not lost crucial points.
Be confident & concise
During a salary negotiation, it’s important to be confident and articulate. Be clear about your experience, achievements and job expectations. It’s essential to maintain a positive tone throughout this discussion so that the person who is hiring you feels that you’re not appearing to be insecure.
Highlight the tangible results
Simply stating that someone is driven, hardworking, and goal-oriented might not be enough to generate an impressive appeal. It is important to present clear and precise data regarding how prior roles have made a difference in companies or the value of specific qualities that can benefit an organization.
Be flexible
If your employer cannot agree to your salary or compensation arrangement being flexible and open can help create space for discussions. You may be able to ask for alternative incentive options such as performance-based bonuses or models instead of the Base salary(? ).
Make sure to remain professional during the negotiation process - regardless of how smoothly or poorly it’s going: Being too aggressive or making unreasonable demands will likely lead to a negative outcome for everybody affected.
Practice active listening
Listening is just as important as communicating in these types of conversations. Listen attentively from the other party during negotiations hearing specific requests and resolving questions if needed, but gently sticking with original request. In the end, both parties must arrive at acceptable outcomes.
Take what you have learned from these conversations and incorporate it into any future negotiations you’ll likely take part in. Following the tips above goes far in maximizing your chances of achieving positive outcomes that are mutually beneficial.
| Your network is important | Contact friends and acquaintances who have held similar roles or connect with professionally-oriented networks as well as brainstorming members of professional associations. |
| Plan talking points | Qualifications and training, Years of relevant experience, Performance and achievements, Unique skills and characteristics (e.g., bilingualism) Knowledge of the industry, the potential for training |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Highlight Tangible Results. |
| Keep your mind open | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary. (?). You must remain professional throughout the negotiation process. |
| Practice active listening | Listening is just as important as communicating during these types of conversations. You can take the lessons you’ve learned away from these conversations and incorporate them into the future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
The process involves discussing and deciding on the compensation package for a job. During this process, you can discuss not just the salary you earn, but also other benefits like health insurance, retirement plans and many more.
Why is it necessary to bargain on salary?
Negotiating your salary can give you a better financial future as well as show that you’re confident about your worth. It will also allow you to not leave money on the table.
When should I begin to negotiate the salary?
It’s best to begin negotiating after you have received an offer, so that all parties are conscious of what’s being discussed. Then, the discussions are focused on negotiating optimal terms and avoid unpleasant surprises.
What if I am happy with the package I was offered without negotiation?
If you receive an offer and are content with the offer, then there’s no reason to negotiate. But it’s important to communicate clearly what the employer will offer in terms of things like performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when changing careers?
Salary negotiation when changing career paths can require extra preparation due to the fact that your previous experiences may not be directly applicable or be a part of the new job. Research what similar roles in similar industries pay in order to get a solid knowledge of the realistic expectations you can set for you, based on the specific circumstances.
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