How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an arduous process because it requires you to balance what you believe you’re worth with what the employer thinks they can afford. But, if it’s done correctly it could be a positive experience for both parties that results in a higher salary for the employee and greater satisfaction for the employees in their work. Here’s how to bargain your salary in confidence.
Key Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to make sure that your salary proposal is realistic.
- Collect information through socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead the time, including education and certification as well as years of relevant experiences, achievements and results, unique skill set & qualifications, industry knowledge and training opportunities.
- During the negotiation, you must be confident and clear, but be flexible and open-minded. Show tangible results that you’ve had in your previous positions.
- Maintain a positive tone throughout the conversation, and engage in active listening.
Do your research
Before you begin any salary negotiation, you need to do thorough research on current market rates and industry standards to make sure your salary offer is reasonable. The factors that could affect this include experience degree, size of the company and geographical location. (?). One great way to gather information is to make connections with colleagues and others who are in the same profession.
Research Online
Utilizing internet-based resources like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. Htm) you can get an extensive view of the benchmarking range of salaries businesses pay for the same job. This gives you an idea of current market rate plus few other aspects related to an employment.
Your Network Is Vital
Learn more by talking to acquaintances who have had similar roles, or reaching out via professionally-oriented networks and brainstorming with professionals in professional organizations.
Create Talk points
The time spent in preparing for a negotiations is always a good time spent. You’ll feel much more confident when giving your argument if you are prepared with a specific set of talking points outlined prior to the time.
Here are a few instances of things that you may want to consider when negotiating your salary:
- Certification and education
- Years of relevant experience
- Achievements and results
- Unique set of skills and attributes (e.g., bilingualism)
- Industry knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure that you don’t miss any important details.
Be confident & concise
In a salary negotiation, it’s important to be confident and articulate. Be clear about your experience of accomplishments and your expectations. It’s important to maintain your tone of voice positive throughout the conversation so that the person who is hiring you feels that you’re not coming across as unfriendly.
Show tangible results
Simply saying that you are determined, hardworking and goal-oriented may not be enough to make an strong appeal. Therefore, provide clear data regarding the ways in which previous jobs made an impact in the workplace or how valuable are specific skills that can benefit an organization.
Remain flexible
If your employer isn’t able to your salary or compensation package outright being flexible and open will help open the door to dialog. You could ask about alternatives to incentives, such as performance-based bonus arrangements instead of Base salary(? ).
You must remain professional throughout the negotiation process - regardless of how successfully or not: Being too aggressive or making unreasonable demands is likely to cause a negative result for all parties affected.
Practice active listening
Listening is just as important as communicating in these types of conversations. Listen attentively from the any other participant during negotiations, observing requests carefully and clarifying doubts as much as you can while remaining in the spirit of your original request. Both parties should ultimately be able to reach a satisfactory conclusion.
Use the lessons you’ve learned from these discussions and incorporate it into any future discussions you’ll probably be involved in. The tips mentioned above will go far in maximizing your chances of achieving positive, mutually beneficial results.
| Your Network is Important | Talk to your friends who have held similar roles or reaching out through professional networks and brainstorming with members of professional associations. |
| Prepare talking points | Education & certification, Years of relevant experience, Results and accomplishments, unique ability and traits (e.g. multilingualism) Knowledge of the industry, Training potential |
| Be confident & concise | Speak clearly about your experiences your accomplishments and expectations for the job. Focus on tangible results. |
| Stay flexible | Consider alternative incentives such as bonuses based on performance instead of Base salary (?). Make sure to remain professional during the negotiation. |
| Practice active listening | Listening is as crucial as communicating during these types of conversations. Take what you have learned from these conversations and incorporate it into any future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is the concept of salary negotiation?
Salary negotiation is the process of discussing and finalizing the compensation package to be paid for your job. Through this process you are able to discuss more than only your base salary but also additional benefits such as retirement plans, health insurance, and more.
Why is it so important to bargain on salary?
Negotiating your salary will give you a greater financial future and also show that you are aware of your worth. It can also help you avoid leaving money on the table.
When should I begin to negotiate a salary?
It is recommended to begin negotiations following the acceptance of an offer to ensure that everyone is informed of what’s being discussed. So, negotiations are focused on securing ideal terms while avoiding surprise.
What happens if I am completely satisfied with the offered package with no negotiation?
If you are offered a job and are content with it, there may be no need to discuss it. It’s nevertheless important to provide clear information about what employers will provide regarding things such as rewards based on performance or reimbursements for career training.
Can I negotiate my salary if switching careers completely?
Negotiating your salary after changing career paths may require added preparation due to the fact that your previous experience may not directly translate or be a part of the new job. Research what similar roles in similar fields offer to have a clear knowledge of the realistic expectations you can set for yourself, given your particular situation.
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