How to Negotiate Salary for Your Next Career Move
Negotiating your salary is difficult to talk about, because it requires you to balance what you believe you’re worth with what the employer thinks they’ll be able to afford. If done properly it could be positive for both sides that results in a better salary for the employee and a greater engagement of the employee in their job. Here’s how you can negotiate your salary with confidence.
Important Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to ensure that your salary offer is fair.
- Gather information through connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of time, including education & certifications, years of relevant experience, the results and achievements and unique skills capabilities, knowledge of the industry, and the potential for further training.
- During negotiations, be confident and articulate but also flexible and open-minded. Bring out tangible results you’ve achieved in your previous positions.
- Maintain a positive mood throughout the conversation, and be active in your listening.
Do your research
Before you begin any negotiations regarding salary, it’s essential to conduct a thorough study of current market rates and industry standards to ensure that your salary suggestion is realistic. Factors that might impact this include the level of experience, levels, the size of your company, and location (?). A great method of gathering information is to make connections with colleagues and others who are in the same profession.
Research Online
Utilizing online resources such as [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. htm) you can get an additional perspective on the benchmarking range of salary that companies offer for the exact job. This will give you an idea of the market rate plus few other aspects related to the job.
Your Network is Vital
Gain insight by speaking to friends who have held similar positions, or contacting them through professionally-oriented networks in addition to brainstorming members of professional organizations.
Create Talk points
Preparing for a negotiation is always time well spent. You’ll feel much more confident in making your case if you have a set of talk points that you have outlined before the deadline.
Here are some suggestions of things you could consider during your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- Achievements and results
- Particular skill set and traits (e.g. language proficiency,)
- Knowledge of the industry
- Training potential
Also keeping notes/notebook handy can assist during conversations to ensure that one doesn’t miss any important details.
Be confident & concise
In a salary negotiation it is essential to be confident and articulate. Make sure you are clear about your past experiences as well as your achievements and expectations for the job. It’s important to maintain a positive attitude throughout this conversation to ensure that your employer feels like you’re not seeming hostile.
Show tangible results
Simply stating that one is determined, hardworking and aspire-driven person may not be enough to generate an strong appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made significant difference to companies or the value of specific capabilities that benefit the organization.
Stay flexible
If your employer isn’t able to your salary request or compensation package outright, remaining flexible and open-minded will help open the door to dialogue. It is possible to inquire about alternative incentives like performance-based bonus models instead of the Base salary(? ).
Keep your cool throughout the negotiation process - regardless of how smoothly or badly it’s going getting too defensive or making unreasonable demands is likely to lead to a negative outcome for everyone that is.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Listen attentively from the another party while you negotiate, listening to the requests carefully and clarifying questions if needed, but remaining in the spirit of your what you originally requested. Both parties should ultimately achieve satisfactory results.
Consider the lessons you’ve learned away from these conversations and incorporate them into future talks you’re likely to participate in. The tips mentioned above will go a long way towards maximizing the chances of achieving positive, mutually beneficial results.
| Your network is important | Contact friends and acquaintances who have held similar roles or connect with professionally-oriented networks in addition to brainstorming members within professional organizations. |
| Create talking points | Training and certification, years of relevant experience and achievements, unique abilities and skills (e.g. multilingualism), Industry knowledge, the potential for training |
| Be confident & concise | Be clear about your experience your accomplishments and expectations for the job. Focus on tangible results. |
| Be flexible | Find out about other incentives, such as incentive structures based on performance rather than Base salary (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial as speaking during these kinds of conversations. Learn from these conversations and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
Salary negotiation is the process of discussing and deciding on the compensation plan to be paid for your job. When you negotiate this you are able to discuss more than just your salary base, but also other benefits, such as health insurance, retirement plans as well as other benefits.
Why is it so important to negotiate a salary?
Negotiating your salary will give you a more secure financial future as well as indicate that you know your worth. This can help you not leave money on the table.
What is the best time to negotiate a salary?
It is ideal to begin negotiations following the acceptance of an offer to ensure that all parties are informed of what’s being negotiated. In this way, negotiations will focus on securing the best terms, while avoiding any unpleasant surprises.
What if I am happy with the package I was offered with no negotiation?
If you are offered a job and are pleased with it, then there’s probably no need to discuss it. However, it’s essential to provide clear information about what your employer’s expectations with regards to things like the performance-based bonus or career-training reimbursements.
What is the best way to negotiate my salary? changing careers?
Negotiating your salary after changing career paths may require added training because your previous work experiences might not translate or encapsulate new responsibilities. Learn about the salaries similar to those in similar industries offer to have a clear knowledge of the realistic expectations you can set for yourself, given your particular situation.
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