How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be difficult to talk about, because it involves balancing what think you’re worth versus the amount an employer believes they’re able to pay. If it’s done right it can result in an enjoyable experience for both parties, resulting in a higher pay for the employee and a greater engagement of the employee in their job. Here’s how to negotiate your salary with confidence.
The most important takeaways
- Before you make a salary offer study market rates and industry standards to confirm that the salary you request is reasonable.
- Gather information through connecting with colleagues through online resources such as LinkedIn Salary and Glassdoor, and contacting professional networks.
- Create talking points ahead of time, including education & certifications, years of relevant experiences, achievements and results, unique skill set & capabilities, knowledge of the industry, and the potential for further training.
- During the negotiation, be confident and clear, but be flexible and open-minded. Show tangible results that you have achieved in previous positions.
- 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 thorough research on the market and standards in the industry to ensure that your salary request is realistic. Some factors that can affect this include your experience levels, the size of your company as well as location. (?). One way to gather information is to make connections with colleagues or other professionals who are in the same field of work.
Research Online
With the help of some online sources, 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. http://www.salaries.com/index.html) you will get a more substantial approach towards the salary range that benchmarking businesses are providing for same job. This gives you an idea of the current market rate plus few other elements that are related to the position.
Your Network Is Essential
Find out more about your situation by talking with people who have had similar positions, or contacting them via professional networks as well as brainstorming members of professional organizations.
Prepare talking points
Preparing for a meeting is time well spent. You’ll be much more confident in making your case if you have a clear outline of your talking points in advance.
Here are some ideas of items you might consider when negotiating your salary:
- Education and certification
- Experience gained through years of relevant work
- The results and accomplishments
- Unique skill set and qualities (e.g. the ability to speak two languages)
- Knowledge of the industry
- Training potential
Notes and notebooks can assist during conversations to ensure it is not lost important points.
Be confident & concise
In a negotiation for a salary it is essential to be confident and articulate. Make sure you are clear about your past experiences of accomplishments and your expectations. It’s essential to maintain a positive tone throughout this dialogue so that the employer doesn’t feel like you’re seeming unfriendly.
Highlight Tangible Results
Simply stating one is ambitious, hardworking, and focused may not be enough to generate an appealing appeal. Make sure to provide precise statistics regarding how prior roles have made a significant difference to companies or the value of specific capabilities that benefit the organization.
Remain flexible
If your employer isn’t able to your requested salary or compensation plan in full Being flexible and open will help open the door to dialog. You can inquire about alternative incentives like performance-based bonus structures instead of the Base salary(? ).
Keep your cool during the negotiation process - no matter how well or poorly it’s going: Being too aggressive or making unreasonable demands could have a negative impact for everyone that is.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Listen attentively from the other party during negotiations hearing requests carefully and clarifying doubts if at all while maintaining the initial request. In the end, both parties must achieve satisfactory results.
Consider the lessons you’ve learned away from these conversations and incorporate them into future negotiations that you’re likely to be involved in. The tips mentioned above will go far in maximizing the chance of achieving positive outcomes that are mutually beneficial.
| Your network is important | Contact friends and acquaintances who’ve held similar roles or reaching out through the professional network and brainstorming with members of professional associations. |
| Create talking points | Certification and education, Years of relevant work experience, results and accomplishments, unique ability and traits (e.g. bi-lingualism) Know-how in the field, Training potential |
| Be confident & concise | Speak clearly about your experiences accomplishments, job goals and achievements. Make sure you highlight tangible results. |
| Stay flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally as important in these types of conversations. You can take the lessons you’ve learned away from these conversations and apply it to future negotiations you’ll likely take part in. |
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Frequently asked questions
What is salary negotiation?
Salary negotiation is the process of negotiating and finalizing the compensation package to be paid for your job. During this process you are able to discuss more than only the base salary, but also other benefits, such as health insurance, retirement plans and many more.
Why is it so important to negotiate salary?
Negotiating your salary will give you a greater financial future as well as indicate that you’re confident about your worth. It can also help you avoid putting money on the table.
When should I begin to negotiate for a raise?
It is best to begin negotiations following the acceptance of an offer to ensure that all parties are informed of what’s being negotiated. So, negotiations are focused on securing the best terms, while avoiding any unintentional surprises.
What if I am content with the deal I received with no negotiation?
If you receive an offer and are content with it, then there may be no need to negotiate. It’s nevertheless important to have transparent communication about what employers will provide regarding things such as performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when I change careers entirely?
The negotiation of salary for changing career paths may require added preparation due to the fact that your previous experiences might not translate or relate to the new duties. Research what similar roles in similar industries pay, to develop a thorough knowledge of the realistic expectations you can set for yourself, in light of your specific circumstances.
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