How to Negotiate Salary for Your Next Career Move
Negotiating your salary is a difficult conversation, as it involves balancing what think you’re worth versus what the employer thinks they’ll be able to afford. If it’s done right it can result in an enjoyable experience for both parties, resulting in a greater salary for the employee and greater employee engagement in their work. Here’s how you can bargain your salary in confidence.
The most important takeaways
- Before you make a salary offer, research market rates and industry standards to make sure that your salary offer is fair.
- Find out information by the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of time, including education & accreditation, years of relevant knowledge, accomplishments and achievements with a unique set of skills and capabilities, knowledge of the industry, and training opportunities.
- During the negotiation, be confident and clear, but be flexible and open-minded. Show tangible results that you have achieved in previous roles.
- Maintain a positive tone throughout the conversation, and practice active listening.
Do your research
Before entering into any salary negotiation, you need to do thorough research on the market and standards in the industry to make sure that your salary proposal is reasonable. Factors that might impact the amount you are offered could be levels of experience level, company size and geographical location. (?). A great method of gathering information is to make connections with colleagues and others within your job field.
Research Online
With the help of some online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. htm) You can find a an extensive view of the salary range that benchmarking that companies offer for the exact role which will gives you an idea about current market prices and also other aspects related to the position.
Your Network Is Vital
Get insight from talking to friends who have held similar positions or reaching out via the professional networks as well doing brainstorming members of professional organizations.
Prepare Talking points
Preparing for any negotiations is always a good time spent. You’ll feel much more confident when the presentation of your case if have a list of points to discuss before the deadline.
Here are some suggestions of items you might consider to include in your salary negotiation:
- Education and certification
- Experience gained through years of relevant work
- Achievements and results
- A unique set of skills and characteristics (e.g. bilingualism)
- Knowledge of the industry
- Training potential
A notepad or notebook can assist during conversations to ensure that one doesn’t forget any important details.
Be confident & concise
In a salary negotiation it is essential to be confident and articulate. Be clear about your experience accomplishments, your job goals and achievements. It’s essential to maintain a positive attitude throughout this dialogue so that the employer isn’t appearing to be hostile.
Show tangible results
Simply stating one is ambitious, hardworking, and aspire-driven person may not be enough to create an appealing appeal. Make sure to provide precise statistics on how previous roles made distinction in businesses or the value of specific skills that can benefit an organization.
Keep your mind open
If the employer cannot agree to your salary request or compensation package outright being flexible and open can allow room for discussions. You may be able to ask for alternative incentive options such as performance-based bonuses or models instead of Base salary(? ).
Be sure remain professional throughout the negotiation - no matter how well or poorly it’s going fighting too much or making unreasonable demands is likely to cause a negative result for everyone affected.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Listen attentively from the any other participant during negotiations, observing requests carefully and clarifying questions if needed, but remaining in the spirit of your initial request. In the end, both parties must come out with acceptable results.
Learn from these conversations and incorporate them into future discussions you’ll probably be involved in. Following the tips above goes an enormous way to increasing your chances of reaching an agreement that is mutually beneficial.
| Your Network is Important | Have a chat with friends who have had similar experiences or connect with professionally-oriented networks in addition to brainstorming members within professional organizations. |
| Prepare talking points | Training and certification, years of relevant work experience, results and accomplishments, unique skill set and qualities (e.g., bilingualism), Industry knowledge, ability to train |
| Be confident & concise | Be clear about your experience accomplishments, job goals and achievements. Focus on tangible results. |
| Be flexible | You can inquire about alternative incentives such as incentive structures based on performance rather than Base salary. (?). Be sure 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 future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is salary negotiation?
It is the act of negotiating and finalizing the compensation package for a particular job. During this process it is possible to discuss not just your salary base, but also benefits like retirement plans, health insurance and much more.
Why is it necessary to discuss salary?
Negotiating your pay can provide you a greater financial future and show you are aware of your worth. It also helps you not leave money on the table.
What is the best time to negotiate a salary?
It’s best to begin negotiating immediately after receiving an offer so everyone is aware of the terms being negotiated. In this way, discussions are focused on negotiating perfect terms while avoiding unexpected unpleasant surprises.
What happens if I am completely satisfied with the package I was offered without negotiating?
If you are offered a job and are pleased with it, there’s no reason to discuss it. But it’s important to provide clear information about what the employer will offer in the form of the performance-based bonus or career-training reimbursements.
Do I have the option of negotiating my salary when I change careers entirely?
Negotiating your salary after changing careers may require more training because your previous work experience might not directly translate or encapsulate new responsibilities. Research what similar roles in similar fields pay, to develop a thorough idea of what realistic expectations are for you, considering your particular situation.
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