How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it requires you to balance what you think you’re worth versus the amount an employer believes they’ll be able to afford. However, if done correctly it can result in positive for both the employer and employee, which results in a higher salary for the employee as well as greater employee engagement in their work. Here’s how you can negotiate your salary with confidence.
Key Takeaways
- Before you negotiate your salary, research market rates and industry standards to confirm that your salary offer is fair.
- Get information from networking with colleagues, using websites like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Plan your talk points ahead of time, including education & certification, years of relevant knowledge, accomplishments and achievements and unique skills capabilities, knowledge of the industry, and training opportunities.
- In the course of negotiations, you should be assertive and confident, yet flexible and open-minded. Highlight tangible results that you’ve had in your previous positions.
- Keep a positive attitude throughout the conversation, and practice active listening.
Do your research
Before you begin any salary negotiation, it’s important to conduct a thorough investigation of market rates and industry standards to make sure that your salary proposal is realistic. Some factors that can affect the amount you are offered could be the level of experience, levels, the size of your company as well as location. (?). Another great method to gather information is through networking with colleagues and others who are in the same field of work.
Research Online
Utilizing online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. https://www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) You can find a an additional perspective on the range of benchmarking salaries that companies offer for the exact role which will gives you an idea about current market rate and a few other aspects related to the job.
Your Network is Vital
Get insight from talking to people who have had similar positions or reaching out through the professional networks as well doing brainstorming members of professional associations.
Plan talking points
The time spent in preparing for a meeting is time well spent. You’ll be much more confident in giving your argument if you have a clearly defined set of talk points that you have outlined ahead of time.
Here are some ideas of items you may want to consider when negotiating your salary:
- Education and certification
- Years of relevant experience
- The results and accomplishments
- Unique skill set and qualities (e.g. bilingualism)
- Industry-specific knowledge
- Potential for training
A notepad or notebook can be helpful during conversations so that one doesn’t miss any important information.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and clear. Make sure you are clear about your past experiences accomplishments, your job goals and achievements. It’s important to maintain a positive tone throughout this conversation so that the employer doesn’t feel like you’re coming across as unfriendly.
Show tangible results
Simply stating that one is driven, hardworking, and goal-oriented may not be enough to generate an strong appeal. Therefore, provide clear data regarding how prior roles have made a difference in companies or how valuable are specific qualities which benefit organisation
Remain flexible
If your employer isn’t able to agree to your requested salary or compensation plan in full, remaining flexible and open-minded will help open the door to dialogue. It is possible to inquire about alternative incentives like performance-based bonus models instead of the Base salary(? ).
Be sure remain professional during the negotiation process - regardless of how successfully or not: being too combative or making unreasonable demands could have a negative impact for everybody involved.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Pay attention to another party while you negotiate, listening to the specific requests and resolving questions if needed, but keeping to the what you originally requested. In the end, both parties must come out with acceptable results.
Use the lessons you’ve learned away from these conversations and incorporate it into any future talks you’re likely to participate in. Following the tips above goes a long way towards maximizing your chances of reaching positive, mutually beneficial results.
| Your network is important | Contact friends and acquaintances who have been in similar positions or reach out to the professional network as well doing brainstorming members of professional associations. |
| Create talking points | Qualifications and training, Years of relevant experience, Performance and achievements, unique abilities and skills (e.g. the ability to speak two languages), Industry knowledge, Potential for training |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Remain flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary. (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is equally as important in these types of conversations. Consider what you’ve learned from these conversations and incorporate it into any future negotiations you’ll likely take part in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
It is the act of negotiating and deciding on the compensation plan for a job. Through this process it is possible to discuss not only your base salary but also other benefits, such as retirement plans, health insurance, and more.
Why is it so important to discuss salary?
Negotiating your salary can give you a better financial future as well as show that you are aware of your worth. It also helps you not leave money on the table.
How soon should I negotiate for a raise?
It is recommended to begin negotiations following the acceptance of an offer to ensure that all parties are conscious of what’s being discussed. Then, the negotiations will focus on securing the best terms, while avoiding any unintentional surprises.
What if I am happy with the offer without any negotiation?
If you get an offer and are content with it, there may be no need to discuss it. However, it’s still essential to have transparent communication about what employers will provide with regards to things like rewards based on performance or reimbursements for career training.
Do I have the option of negotiating my salary when switching careers completely?
Negotiating your salary after changing career paths can require extra preparation because your past experience may not directly translate or encapsulate new responsibilities. Find out what similar jobs in related industries pay, to develop a thorough understanding of realistic expectations for you, considering the specific circumstances.
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