How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it is about balancing what you consider your worth and what the employer thinks they can afford. If done properly it could be a positive experience for both the employer and employee, which results in a higher pay for the employee, as well as greater satisfaction for the employees in their work. Here’s how to make your salary negotiation a success.
Key Takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure the salary you request is reasonable.
- Get information from connecting with colleagues through online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Create talking points ahead of time, including education & accreditation as well as years of relevant experiences, achievements and results and unique skills abilities, industry expertise, and the potential for further training.
- In the course of negotiations, you should be confident and clear, but be flexible and open. You should highlight tangible results you’ve achieved in your previous positions.
- Keep a positive attitude throughout the conversation, and engage in active listening.
Do your research
Before entering into any pay negotiation, it’s crucial to do thorough research on current market rates and industry standards to ensure that your salary request is realistic. The factors that could affect this may include the level of experience, level, company size as well as location. (?). A great method of gathering information is to make connections with colleagues or other professionals in your chosen area of work.
Research Online
With the help of some internet-based resources like [LinkedIn Salary] (https http://www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. Htm) you can obtain a an extensive view of the range of benchmarking salaries businesses pay for the same job. This will give you an idea about current market rate and a few other factors related to a job.
Your Network is Essential
Gain insight by speaking to friends who have held similar positions, or contacting them through the professional networks in addition to brainstorming members within professional organizations.
Make Talk points
Preparing for a negotiation is always time well spent. You’ll be more confident when giving your argument if you have a clearly defined set of talking points outlined in advance.
Here are some ideas of things you might consider to include in your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- Performances and results
- Unique skill set and qualities (e.g. language proficiency,)
- Industry-specific knowledge
- Training potential
The idea of keeping a notepad and/or notes handy could assist during conversations to ensure it is not lost important details.
Be confident & concise
During a salary negotiation It is important to be confident and articulate. Be clear about your experience, achievements and job expectations. It’s essential to maintain an optimistic tone throughout the conversation to ensure that your employer isn’t being hostile.
Highlight Tangible Results
Simply saying that you are ambitious, hardworking, and goal-oriented might not be enough to make an impactful appeal. It is important to present clear and precise data on how previous roles made an impact in the workplace or how important are certain qualities that can benefit an organization.
Stay flexible
If the employer isn’t able to your salary request or compensation package Being flexible and open will allow for discussions. You could ask about alternative incentive options such as performance-based bonuses or models instead of the Base salary(? ).
Keep your cool during the negotiation process - regardless of how smoothly or badly it’s going fighting too much or imposing unreasonable demands could have a negative impact for everybody affected.
Practice active listening
Listening is as crucial as speaking during these kinds of conversations. Do listen actively from another party while you negotiate, listening to the the amount requested carefully and clarifying doubts as much as you can while remaining in the spirit of your initial request. Ultimately both parties should achieve satisfactory results.
Take what you have learned from these conversations and apply it to future talks you’re likely to participate in. Applying the advice above goes in the right direction to increase the chances of achieving mutually beneficial outcomes.
| Your network is important | Contact friends and acquaintances who have been in similar positions or reach out via professionally-oriented networks as well as brainstorming members within professional organizations. |
| Plan Talk points | Certification and education, Years of relevant experience, Results and achievements, Unique skills and characteristics (e.g. bi-lingualism) Know-how in the field, Training potential |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Make sure you highlight tangible results. |
| Stay flexible | Ask about alternative incentives like the performance-based bonuses instead of Base salary (?). You must remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally as important in these types of conversations. Learn from these discussions and incorporate it into any future conversations you’ll probably be involved 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 for a particular job. During this process you are able to discuss more than just your salary base, but also other benefits, such as retirement plans, health insurance and many more.
Why is it necessary to bargain on salary?
Negotiating your pay can provide you a greater financial future as well as show that you are aware of your worth. This can help you avoid putting money on the table.
When should I start negotiating for a raise?
It is recommended to begin negotiations after receiving an offer so everyone is aware of the terms being discussed. This way, the negotiations will focus on securing perfect terms while avoiding unexpected surprises.
What if I am happy with the deal I received with no negotiation?
If you are offered a job and are happy with it, there may be no need to negotiate. But it’s important to provide clear information about what your employer’s expectations with regards to things like rewards based on performance or reimbursements for career training.
Can I negotiate 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 experience might not directly translate or be a part of the new job. Study what similar positions in related industries pay, to develop a thorough knowledge of the realistic expectations you can set for you, based on your specific circumstances.
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