How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it involves balancing what you consider your worth and what an employer thinks they can afford. But, if it’s done correctly, it can be positive for both parties that results in a better salary for the employee, as well as greater employee engagement in their work. Learn how to bargain your salary in confidence.
The most important takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to ensure that the salary you request is reasonable.
- Find out information by socializing with colleagues, using websites like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Plan your talk points ahead of time, including education and certifications as well as years of relevant experiences, achievements and results with a unique set of skills and capabilities, knowledge of the industry, and training potential.
- During the negotiation, you must be confident and articulate but also flexible and open. You should highlight tangible results you achieved in your previous roles.
- Keep a positive and upbeat tone throughout the conversation, and engage in active listening.
Do your research
Before you enter any negotiations regarding salary, it’s essential to conduct thorough research on the market and standards in the industry to ensure that your salary request is realistic. Factors that might impact the amount you are offered could be levels of experience levels, the size of your company and the location of the company. (?). Another great method to gather information is to network with colleagues or other professionals who are in the same area of work.
Research Online
With the help of some online resources, such as [LinkedIn Salary] (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can obtain a more substantial approach towards the salary range that benchmarking companies pay for the same job. This will give you an idea of the current market rate and a few other facets of an employment.
Your Network Is Vital
Learn more by talking to acquaintances who have had similar positions or reaching out via professionals networks and brainstorming with members within professional organizations.
Create talking points
The time spent in preparing for a negotiations is always a good time spent. You’ll feel much more confident in presenting your case if you are prepared with a specific outline of your talking points prior to the time.
Here are a few examples of items you could consider to include in your salary negotiation:
- Training and certification
- Years of relevant experience
- The results and accomplishments
- Particular skill set and traits (e.g. the ability to speak two languages)
- Industry-specific knowledge
- Potential for training
Notes and notebooks can assist during conversations to ensure that you don’t miss any important information.
Be confident & concise
In a salary negotiation it’s crucial to appear confident and clear. Make sure you are clear about your past experiences accomplishments, your job goals and achievements. It’s crucial to maintain a positive attitude throughout this discussion so that the employer isn’t coming across as hostile.
Highlight Tangible Results
Simply stating one is determined, hardworking and focused may not be enough to make an strong appeal. It is important to present clear and precise data about how your previous positions made a significant difference to companies or what are the most valuable skills which benefit organisation
Remain flexible
If your employer isn’t able to your salary or compensation plan in full, remaining flexible and open-minded will help open the door to discussion. You may be able to ask for alternatives to incentives, such as performance-based bonus models instead of the Base salary(? ).
Be sure remain professional throughout the negotiation - regardless of how well or not: getting too defensive or imposing unreasonable demands can lead to a negative outcome for everybody that is.
Practice active listening
Listening is just as important 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 what you originally requested. In the end, both parties must arrive at acceptable outcomes.
Take what you have learned away from these conversations and incorporate it into the next negotiations you’ll likely take part in. Following the tips above goes an enormous way to increasing the chances of achieving positive outcomes that are mutually beneficial.
| Your network is important | Talk to your friends who have been in similar positions or reaching out through professionally-oriented networks in addition to brainstorming members within professional organizations. |
| Make Talk points | Training and certification, years of relevant experience and achievements, unique abilities and skills (e.g. bi-lingualism) Know-how in the field, ability to train |
| Be confident & concise | Talk clearly about your personal experiences as well as your achievements and expectations. Use tangible results to highlight your achievements. |
| Keep your mind open | Consider alternative incentives such as incentive structures based on performance rather than Base salary. (?). Make sure to remain professional during the negotiation. |
| Practice active listening | Listening is as crucial as speaking during these kinds of conversations. Consider what you’ve learned from these discussions and apply it to future discussions you’ll likely be involved in. |
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Frequently Answered Questions
What is salary negotiation?
Negotiating salary is negotiating and finalizing the compensation package for a job. During this process you will be able to discuss not only the base salary, but also other benefits like retirement plans, health insurance and many more.
Why is it important to negotiate a salary?
Negotiating your salary can give you a better financial future as well as show that you are aware of your worth. It can also help you keep money off the table.
What is the best time to negotiate my salary?
It is recommended to begin negotiations immediately after receiving an offer so everyone is informed of what’s being discussed. This way, the negotiations will focus on securing perfect terms while avoiding unexpected surprises.
What happens if I am completely satisfied with the offer without negotiating?
If you get an offer and are content with the offer, then there’s no need to discuss it. But it’s important to communicate clearly what the employers are willing to offer with regards to things like performance-based bonuses or career-training reimbursements.
Can I negotiate salary when switching careers completely?
Negotiating your salary after changing career paths can require extra preparation due to the fact that your previous experience may not directly translate or relate to the new duties. Research what similar roles in similar fields offer to have a clear comprehension of realistic expectations for you, based on your particular situation.
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