How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it is about balancing what you consider your worth and what the employer thinks they’re able to afford. If it’s done right it could be a positive experience for both parties, resulting in a better salary for the employee and a greater engagement of the employee in their job. Here’s how you can make your salary negotiation a success.
Key Takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to confirm that your salary offer is fair.
- Get information from connecting with colleagues through websites like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Plan your talk points ahead of time, including education and certificates, years of relevant knowledge, accomplishments and achievements and unique skills qualities, industry knowledge, and training potential.
- In the course of negotiations, you should be confident and clear, but be flexible and open-minded. You should highlight tangible results you achieved in your previous positions.
- Maintain a positive mood throughout the conversation, and practice active listening.
Do your research
Before you enter any salary negotiation, you need to conduct a thorough study of market rates and industry standards to ensure that your salary suggestion is realistic. Some factors that can affect the amount you are offered could be the level of experience, levels, the size of your company, and location (?). One great way to gather information is to make connections with colleagues or others in your chosen profession.
Research Online
With the help of some online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can obtain a more substantial approach towards the benchmarking range of salaries businesses pay for the same job. This will give you an idea of current market prices and also other aspects related to an employment.
Your Network is Vital
Gain insight by speaking to friends who have held similar positions or reaching out via professional networks in addition to brainstorming members of professional organizations.
Plan Talk points
The time spent in preparing for a meeting is time well spent. You’ll feel much more confident in the presentation of your case if have a set of talk points that you have outlined prior to the time.
Here are a few examples of things that you could consider including in your salary negotiation:
- 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
- Training potential
The idea of keeping a notepad and/or notes handy could aid in conversations, so it is not lost important information.
Be confident & concise
When you negotiate your salary it is essential to be confident and articulate. Be clear about your experience of accomplishments and your expectations. It’s essential to maintain your tone of voice positive throughout the dialogue so that the employer isn’t appearing to be hostile.
Highlight the tangible results
Simply saying that you are determined, hardworking and focused may not be enough to generate an impressive appeal. Therefore, provide clear data regarding the ways in which previous jobs made significant difference to companies or the value of specific abilities that benefit the organization.
Be flexible
If your employer isn’t able to your salary or compensation package Being flexible and open can help create space for discussions. It is possible to inquire about alternative rewards, like performance-based bonus structures instead of Base salary(? ).
Keep your cool throughout the negotiation process - regardless of how well or not: fighting too much or imposing unreasonable demands can have a negative impact for everyone who is involved.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Listen attentively from the your counterpart during negotiations. Listen to the amount requested carefully and clarifying doubts as much as you can while gently sticking with what you originally requested. Both parties should ultimately come out with acceptable results.
Consider the lessons you’ve learned from these conversations and incorporate them into future talks you’re likely to participate in. Following the tips above goes an enormous way to increasing your chances of reaching positive outcomes that are mutually beneficial.
| Your network is important | Contact friends and acquaintances who’ve held similar roles or reach out to the professional network and brainstorming with members within professional organizations. |
| Make Talk points | Training and certification, years of relevant experience and achievements, Unique skill set and qualities (e.g. bi-lingualism) Know-how in the field, ability to train |
| Be confident & concise | Speak clearly about your experiences your accomplishments and expectations for the job. Make sure you highlight tangible results. |
| Remain flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is as crucial as speaking during these kinds of conversations. Consider what you’ve learned away from these conversations and incorporate them into future negotiations you’ll likely take part in. |
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Frequently asked questions
What is salary negotiation?
It is the act of negotiating and deciding on the compensation package for a position. Through this process it is possible to discuss not only your base salary but also other benefits like health insurance, retirement plans, and more.
Why is it necessary to negotiate a salary?
Negotiating your salary could give you a more secure financial future as well as show that you’re confident about your worth. It will also allow you to avoid leaving money on the table.
What is the best time to negotiate the salary?
It is ideal to begin negotiations after receiving an offer so that all parties are conscious of what’s being discussed. Then, the negotiations will focus on securing ideal terms while avoiding unintentional surprises.
What if I am happy with the offered package without negotiating?
If you are offered a job and are happy with it, there’s no need to discuss it. It’s nevertheless important to provide clear information about what the employer will offer with regards to things like compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? changing careers?
Negotiating your salary after changing careers may require more preparation because your past experience might not directly translate or encapsulate new responsibilities. Learn about the salaries similar to those in related industries offer to have a clear comprehension of realistic expectations for yourself, in light of the specific circumstances.
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