How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an extremely difficult process, since it involves balancing what believe you’re worth with what an employer thinks they’re able to pay. If it’s done right it can result in positive for both parties that results in a greater salary for the employee and a greater employees’ engagement in their jobs. Here’s how you can negotiate your salary with confidence.
Key Takeaways
- Before you make a salary offer, research market rates and industry standards to make sure that the salary you request is reasonable.
- Collect information through the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Plan your talk points ahead of the time, including education and certification, years of relevant knowledge, accomplishments and achievements with a unique set of skills and abilities, industry expertise, and training opportunities.
- During negotiations, be assured and confident but remain flexible and open-minded. You should highlight tangible results you have achieved in previous roles.
- Maintain a positive tone throughout the conversation, and make sure you are listening actively.
Do your research
Prior to entering any salary negotiation, you need to conduct thorough research on standard industry rates and market rates to ensure that your salary request is realistic. The factors that could affect the amount you are offered could be experience degree, size of the company, and location (?). One way to gather information is to network with colleagues or others who are in the same area of work.
Research Online
With the help of some online resources such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a an extensive view of the benchmarking range of salary companies pay for the same job. This gives you an idea of current market rate plus few other elements that are related to an employment.
Your Network Is Important
Gain insight by speaking to acquaintances who have had similar roles or reaching out via the professional networks and brainstorming with members within professional organizations.
Plan Talk points
Time spent preparing for any negotiations is always a good time spent. You’ll feel more confident in giving your argument if you are prepared with a specific set of talking points outlined ahead of time.
Here are some ideas of what you might want to think about when negotiating your salary:
- Education & certification
- Experience gained through years of relevant work
- Performances and results
- A unique set of skills and characteristics (e.g. language proficiency,)
- Industry-specific knowledge
- Potential for training
Notes and notebooks can also help during conversations so it is not lost crucial points.
Be confident & concise
In a salary negotiation it’s crucial to appear confident and articulate. Talk clearly about your work experience accomplishments, your job goals and achievements. It’s essential to maintain your tone of voice positive throughout the conversation to ensure that your person who is hiring you feels that you’re not being unfriendly.
Show tangible results
Simply stating that someone is driven, hardworking, and goal-oriented might not be enough for an impactful appeal. It is important to present clear and precise data on how previous roles made significant difference to companies or what are the most valuable qualities that benefit the organization.
Keep your mind open
If the employer isn’t able to agree to your salary request or compensation package Being flexible and open will help open the door to discussion. You may be able to ask for alternative rewards, like performance-based bonus structures, instead of Base salary(? ).
Make sure to remain professional throughout the negotiation - no matter how well or badly it’s going Being too aggressive or making unreasonable demands could lead to a negative outcome for all parties who is involved.
Practice active listening
Listening is just as important as communicating in these types of conversations. Pay attention to other party during negotiations hearing the amount requested carefully and clarifying doubts, if necessary, while remaining in the spirit of your what you originally requested. In the end, both parties must come out with acceptable results.
Take what you have learned from these conversations and apply it to future negotiations you’ll likely take part in. By following the suggestions above, you will go an enormous way to increasing your chances of reaching positive, mutually beneficial results.
| Your network is important | Speak to friends who’ve held similar roles or connect with professionally-oriented networks as well as brainstorming members of professional associations. |
| Create talking points | Qualifications and training, Years of relevant experience, Results and achievements, unique skills and characteristics (e.g. the ability to speak two languages) Know-how in the field, the potential for training |
| Be confident & concise | Speak clearly about your experiences as well as your achievements and expectations. Highlight Tangible Results. |
| Be flexible | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally as important in these types of conversations. Consider what you’ve learned from these discussions and incorporate them into the future discussions you’ll likely be involved in. |
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Frequently Asked Questions
What is the concept of salary negotiation?
Salary negotiation is the process of negotiating and deciding on the compensation plan for a job. In this negotiation you are able to discuss more than just your salary base, but also additional benefits such as retirement plans, health insurance, and more.
Why why is it important to negotiate a salary?
Negotiating your salary can give you a better financial future as well as show that you’re confident about your worth. This can help you keep money off the table.
When should I start negotiating for a raise?
It is ideal to begin negotiations immediately after receiving an offer so that everyone is aware of the terms being negotiated. Then, the negotiations will be focused on securing optimal terms and avoid unintentional surprises.
What if I am happy with the package I was offered with no negotiation?
If you are offered a job and you are satisfied with it, then there’s no reason to discuss it. However, it’s still essential to have transparent communication about what your employer’s expectations in terms of things like the performance-based bonus or career-training reimbursements.
What is the best way to negotiate my salary? changing career paths entirely?
Negotiating your salary after changing careers may require more training because your previous work experience might not directly translate or overlap with new responsibilities. Study what similar positions in related fields pay, to develop a thorough understanding of realistic expectations for yourself, in light of your particular situation.
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