How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an extremely difficult process, since it involves balancing what you consider your worth and what an employer thinks they’ll be able to afford. If it’s done right, it can be a positive experience for both parties that results in a higher pay for the employee and greater employee engagement in their work. Here’s how to negotiate your salary confidently.
The most important takeaways
- Before you negotiate your salary, research market rates and industry standards to confirm that the salary you request is reasonable.
- Find out information by the networking of colleagues, using online tools like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead time, including education and accreditation as well as years of relevant knowledge, accomplishments and achievements and unique skills capabilities, knowledge of the industry, and potential for training.
- During the negotiation, you must be confident and articulate but also flexible and open-minded. Bring out tangible results you’ve achieved in your previous positions.
- Keep a positive attitude throughout the conversation and be active in your listening.
Do your research
Prior to entering any salary negotiation, it’s important to conduct thorough research on the market and standards in the industry to make sure your salary offer is reasonable. Some factors that can affect this could include experience level, company size and geographical location. (?). One way to gather information is through networking with your colleagues or those who are in the same profession.
Research Online
With the help of 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 http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you can get more comprehensive information about the benchmarking range of salaries companies pay for the same job. This gives you an idea of the market prices and also other aspects related to the position.
Your Network is Vital
Gain insight by speaking to acquaintances who have had similar positions or reaching out via professionals networks in addition to brainstorming members of professional associations.
Create Talking points
Time spent preparing for any negotiation is always well spent. You’ll feel much more confident when presenting your case if you are prepared with a specific list of points to discuss ahead of time.
Here are some ideas of things that you may want to consider during your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- Results and achievements
- Unique skill set and qualities (e.g., bilingualism)
- Industry-specific knowledge
- Training potential
Notes and notebooks can aid in conversations, so that one doesn’t forget any important information.
Be confident & concise
In a negotiation for a salary it is essential to be confident and articulate. Be clear about your experience as well as your achievements and expectations for the job. It’s crucial to maintain an optimistic tone throughout the dialogue so that the employer feels like you’re not being hostile.
Highlight Tangible Results
Simply saying that you are committed, hardworking, and focused may not be enough for an appealing appeal. Therefore, provide clear data regarding how prior roles have made a an impact in the workplace or the value of specific skills that can benefit an organization.
Remain flexible
If your employer isn’t able to your requested salary or compensation plan in full, remaining flexible and open-minded can allow room for discussions. You could ask 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 is likely to have a negative impact for all parties who is involved.
Practice active listening
Listening is as crucial as communicating in these types of conversations. Do listen actively from your counterpart during negotiations. Listen to requests carefully and clarifying doubts if at all while gently sticking with initial request. Ultimately both parties should come out with acceptable results.
Learn from these conversations and incorporate it into the next negotiations that you’re likely to be involved in. Following the tips above goes in the right direction to increase your chances of achieving mutually beneficial outcomes.
| Your network is important | Speak to friends who’ve held similar roles or reaching out through networking networks for professionals as well doing brainstorming members of professional associations. |
| Plan talking points | Training and certification, years of relevant experience, Results and accomplishments, Unique skills and characteristics (e.g. the ability to speak two languages) Knowledge of the industry, Training potential |
| Be confident & concise | Be clear about your experience accomplishments, job goals and achievements. Focus on tangible results. |
| Stay flexible | Ask about alternative incentives like incentive structures based on performance rather than Base salary. (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is equally as important as communicating during these types of conversations. Take what you have learned from these conversations and apply it to future negotiations you’ll likely take part in. |
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Frequently Answered Questions
What is salary negotiation?
Negotiating salary is discussing and deciding on the compensation package for a position. When you negotiate this you will be able to discuss not only the base salary, but also other benefits like retirement plans, health insurance and much more.
Why is it important to negotiate a salary?
Negotiating your pay can provide you a greater financial future as well as show that you know your worth. It can also help you avoid putting money on the table.
When should I begin to negotiate for a raise?
It is recommended to begin negotiations after you have received an offer, so that all parties are aware of the terms being discussed. In this way, negotiations will focus on securing the best terms, while avoiding any unintentional surprises.
What if I am content with the offer without negotiation?
If you accept an offer and are happy with it, there may be no need to negotiate. But it’s important to be clear about what employers will provide in terms of things like the performance-based bonus or career-training reimbursements.
Can I negotiate my salary if switching careers completely?
The negotiation of salary for changing careers may require more preparation because your past experience may not directly translate or be a part of the new job. Study what similar positions in similar industries pay, to develop a thorough idea of what realistic expectations are for yourself, given your particular situation.
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