How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an extremely difficult process, since it involves balancing what you consider your worth and the amount an employer believes they’re able to pay. However, if done correctly, it can be a positive experience for both sides that results in a better salary for the employee, as well as greater engagement of the employee in their job. Here’s how to bargain your salary in confidence.
The most important takeaways
- Before you negotiate your salary study market rates and industry standards to make sure that your salary request is realistic.
- Get information from socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Plan your talk points ahead of time, including education and certificates in the form of years of relevant work experiences, achievements and results and unique skills qualities, industry knowledge, and training potential.
- During negotiations, be assured and confident but remain flexible and open-minded. You should highlight tangible results you’ve achieved in your previous roles.
- Keep a positive attitude throughout the conversation and engage in active listening.
Do your research
Prior to entering any pay negotiation, it’s crucial to conduct a thorough study of standard industry rates and market rates to ensure that your salary suggestion is reasonable. Some factors that can affect this may include your experience levels, the size of your company and the location of the company. (?). A great method of gathering data is to connect with your colleagues or those within your field of work.
Research Online
With the help of some internet-based resources like [LinkedIn Salary] (https: //www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) You can find a an extensive view of the benchmarking range of salaries that companies offer for the exact job. This will give you an idea about current market rate plus few other factors related to a job.
Your Network is Important
Find out more about your situation by talking with friends who have held similar roles or reaching out via the professional networks and brainstorming with members of professional associations.
Create Talking points
Preparing for any negotiation is always well spent. You’ll be much more confident when giving your argument if you are prepared with a specific set of talk points that you have outlined in advance.
Here are some ideas of things you might consider when negotiating your salary:
- Education & certification
- Experience gained through years of relevant work
- Results and achievements
- A unique set of skills and characteristics (e.g. the ability to speak two languages)
- Know-how in the field
- Training potential
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure that you don’t miss any important points.
Be confident & concise
During a salary negotiation It is important to be confident and clear. Talk clearly about your work experience of accomplishments and your expectations. It’s important to maintain an optimistic tone throughout the conversation to ensure that your employer isn’t seeming aggressive.
The Key to Tangible Results
Simply stating that someone is ambitious, hardworking, and goal-oriented might not be enough for an impressive appeal. So put forward clear statistics regarding the ways in which previous jobs made significant difference to companies or the value of specific capabilities that benefit the organization.
Remain flexible
If the employer isn’t able to your salary request or compensation package outright, remaining flexible and open-minded can help create space for dialogue. You can inquire about alternatives to incentives, such as performance-based bonus arrangements instead of the Base salary(? ).
You must remain professional throughout the negotiation - regardless of how well or not: being too combative or making unreasonable demands can lead to a negative outcome for all parties involved.
Practice active listening
Listening is as crucial as speaking during these kinds of conversations. Be attentive to the any other participant during negotiations, observing requests carefully and clarifying questions if needed, but gently sticking with original request. Ultimately both parties should come out with acceptable results.
Use the lessons you’ve learned from these discussions and incorporate it into any future negotiations that you’re likely to be involved in. Following the tips above goes in the right direction to increase the chances of achieving positive outcomes that are mutually beneficial.
| Your network is important | Contact friends and acquaintances who have been in similar positions or reach out to professionally-oriented networks in addition to brainstorming members of professional associations. |
| Create Talk points | Education & certification, Years of relevant experience, Results and achievements, unique abilities and skills (e.g., bilingualism) Knowledge of the industry, ability to train |
| Be confident & concise | Be clear about your experience, achievements and job expectations. Focus on tangible results. |
| Remain flexible | You can inquire about alternative incentives such as incentive structures based on performance rather than Base salary. (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is equally as important in these types of conversations. Consider what you’ve learned away from these conversations and apply it to future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Salary negotiation is the process of negotiating and deciding on the compensation package for a particular job. Through this process you will be able to discuss not only your base salary but also additional benefits such as retirement plans, health insurance and much more.
Why is it necessary to discuss 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 also helps you keep money off the table.
What is the best time to negotiate the salary?
It’s best to begin negotiating following the acceptance of an offer to ensure that all parties are conscious of what’s being negotiated. So, negotiations are focused on securing the best terms, while avoiding any surprises.
What happens if I am satisfied with the package I was offered with no negotiation?
If you are offered a job and are happy with it, there’s probably no need to negotiate. However, it’s still essential to provide clear information about what the employers are willing to offer with regards to things like compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? changing career paths entirely?
The negotiation of salary for changing career paths may require added planning because your prior experience may not directly translate or be a part of the new job. Learn about the salaries similar to those in related industries pay to gain a robust knowledge of the realistic expectations you can set for you, based on your particular situation.
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