How to Negotiate Salary for Your Next Career Move
A salary negotiation can be difficult to talk about, because it is about balancing what you consider your worth and what the employer thinks they’re able to pay. However, if done correctly it could be a positive experience for both parties, resulting in a greater salary for the employee and greater satisfaction for the employees in their work. Here’s how to make your salary negotiation a success.
Key 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 socializing with colleagues, using online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Prepare talking points ahead of the time, including education and certifications as well as years of relevant experience, results & achievements, unique skill set & abilities, industry expertise, and training potential.
- During the negotiation, you must be assertive and confident, yet flexible and open. Show tangible results that you’ve had in your previous positions.
- Keep a positive attitude throughout the conversation and engage in active listening.
Do your research
Prior to entering any salary negotiation, it’s important to conduct a thorough study of market rates and industry standards to ensure that your salary request is realistic. The factors that could affect this could include experience degree, size of the company and geographical location. (?). One great way to gather information is to make connections with colleagues and others in your chosen job field.
Research Online
With the help of some internet-based resources like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you can obtain a more substantial approach towards the salary range that benchmarking businesses are providing for same job. It will provide you with an idea about current market rate and a few other facets of a job.
Your Network Is Essential
Get insight from talking to colleagues who have been in similar roles, or reaching out through the professional networks and brainstorming with members of professional associations.
Prepare Talk points
Preparing for a negotiation is always well spent. You’ll be much more confident in making your case if you are prepared with a specific list of points to discuss before the deadline.
Here are a few examples of things that you could consider including in your salary negotiation:
- Education and certification
- Years of relevant experience
- The results and accomplishments
- A unique set of skills and characteristics (e.g. the ability to speak two languages)
- Industry knowledge
- Potential for training
Notes and notebooks can be helpful during conversations so that you don’t miss any important details.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and clear. Speak clearly about your experiences accomplishments, your job goals and achievements. It is important to keep a positive tone throughout this conversation so that the person who is hiring you feels that you’re not being insecure.
Highlight the tangible results
Simply stating that someone is committed, hardworking, and aspire-driven person may not be enough to generate an strong appeal. So put forward clear statistics regarding how prior roles have made a difference in companies or how important are certain capabilities that benefit the organization.
Remain flexible
If the employer isn’t able to your salary request or compensation package Being flexible and open will allow for discussions. It is possible to inquire about alternative rewards, like performance-based bonus structures instead of Base salary(? ).
Be sure remain professional throughout the negotiation - no matter how well or poorly it’s going: being too combative or making unreasonable demands can result in an unfavourable outcome for everyone who is involved.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Be attentive to the your counterpart during negotiations. Listen to requests carefully and clarifying doubts, if necessary, while gently sticking with what you originally requested. In the end, both parties must achieve satisfactory results.
Consider the lessons you’ve learned away from these conversations and apply it to future negotiations you’ll likely take part in. Following the tips above goes an enormous way to increasing the chance of achieving positive, mutually beneficial results.
| Your Network is Important | Speak to friends who’ve held similar roles or reach out via the professional network in addition to brainstorming members of professional associations. |
| Plan Talk points | Education & certification, Years of relevant work experience, results and achievements, unique abilities and skills (e.g. multilingualism), Industry knowledge, the potential for training |
| Be confident & concise | Speak clearly about your experiences accomplishments, job goals and achievements. Use tangible results to highlight your achievements. |
| Be flexible | Consider alternative incentives such as the performance-based bonuses instead of Base salary. (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as communicating in these kinds of conversations. Learn from these conversations and incorporate them into the future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is salary negotiation?
Negotiating salary is negotiating and deciding on the compensation package for a job. Through this process you will be able to discuss not just your salary base, but also additional benefits such as health insurance, retirement plans and much more.
Why why is it important to bargain on salary?
Negotiating your pay can provide you a better financial future as well as show that you’re aware of what you’re worth. It will also allow you to not leave money on 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 what is being negotiated. This way, the negotiations will focus on securing optimal terms and avoid unintentional surprises.
What happens if I am satisfied with the offer without any negotiation?
If you receive an offer and are happy with the offer, then there’s no reason to bargain. It’s nevertheless important to provide clear information about what employers will provide in the form of performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when changing career paths entirely?
Negotiating salary when you change career paths may require added preparation due to the fact that your previous experiences may not be directly applicable or relate to the new duties. Research what similar roles in related fields pay in order to get a solid comprehension of realistic expectations for yourself, in light of the particular circumstances you face.
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