How to Negotiate Salary for Your Next Career Move
A salary negotiation can be difficult to talk about, because it is about balancing what you think you’re worth versus what the employer thinks they’ll be able to afford. But, if it’s done correctly it can be a positive experience for both the employer and employee, which results in a higher pay for the employee, as well as greater employee engagement in their work. Learn how to make your salary negotiation a success.
The most important takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure that the salary you request is reasonable.
- Get information from the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Create talking points ahead of the time, including education and certificates as well as years of relevant experiences, achievements and results with a unique set of skills and qualifications, industry knowledge and training potential.
- During negotiations, be assertive and confident, yet flexible and open-minded. Bring out tangible results you achieved in your previous positions.
- Maintain a positive tone throughout the conversation, and make sure you are listening actively.
Do your research
Prior to entering any salary negotiation, you need to conduct a thorough investigation of the market and standards in the industry to make sure your salary offer is realistic. Some factors that can affect the amount you are offered could be levels of experience levels, the size of your company, and location (?). Another great method to gather information is through networking with colleagues or others who are in the same area of work.
Research Online
With the help of some online resources such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https http://www. linkedin. https://www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) You can find a an additional perspective on the salary range that benchmarking businesses pay for the same role which will gives you an idea of current market prices and also other aspects related to an employment.
Your Network Is Vital
Get insight from talking to people who have had similar positions or reaching out via the professional networks as well doing brainstorming members of professional associations.
Make talking points
Preparing for any negotiation is always well spent. You’ll feel more confident when 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 when negotiating your salary:
- Training and certification
- Years of relevant experience
- The results and accomplishments
- Unique skill set and qualities (e.g. language proficiency,)
- Industry-specific knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could also help during conversations so it is not lost important information.
Be confident & concise
In a salary negotiation it’s crucial to appear confident and clear. Talk clearly about your work experience of accomplishments and your expectations. It is important to keep a positive tone throughout this conversation to ensure that your employer doesn’t feel like you’re seeming hostile.
The Key to Tangible Results
Simply stating that someone is determined, hardworking and goal-oriented might not be enough to generate an impressive appeal. It is important to present clear and precise data regarding the ways in which previous jobs made difference in companies or what are the most valuable skills that can benefit an organization.
Be flexible
If the employer cannot agree to your salary or compensation package being flexible and open will allow for discussion. You may be able to ask for alternatives to incentives, such as performance-based bonus models instead of Base salary(? ).
Make sure to remain professional throughout the negotiation process - no matter how well or poorly it’s going fighting too much or imposing unreasonable demands will likely have a negative impact for all parties who is involved.
Practice active listening
Listening is as crucial as communicating in these types of conversations. Be attentive to the your counterpart during negotiations. Listen to the amount requested carefully and clarifying doubts, if necessary, while keeping to the original request. Ultimately both parties should arrive at acceptable outcomes.
Take what you have learned from these conversations and apply it to future negotiations that you’re likely to be involved in. Following the tips above goes far in maximizing the chances of achieving an agreement that is mutually beneficial.
| Your Network is Important | Talk to your friends who have been in similar positions or reach out to professional networks in addition to brainstorming members of professional associations. |
| Plan Talk points | Qualifications and training, Years of relevant experience and accomplishments, unique skill set and qualities (e.g. multilingualism) and industry knowledge. the potential for training |
| Be confident & concise | Make sure you are clear about your experience accomplishments, job goals and achievements. Highlight Tangible Results. |
| 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 equally as important in these types of conversations. Learn away from these conversations and incorporate it into any future negotiations that you’re likely to take part in. |
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Frequently Answered Questions
What is salary negotiation?
The process involves discussing and finalizing the compensation package for a job. When you negotiate this you will be able to discuss not only your base salary but also benefits like retirement plans, health insurance as well as other benefits.
Why is it so important to bargain on salary?
Negotiating your salary can give you a more secure financial future and show you’re confident about your worth. This can help you keep money off the table.
When should I start negotiating my salary?
It is ideal to begin negotiations after you have received an offer, so everyone is informed of what’s being negotiated. In this way, discussions are focused on negotiating perfect terms while avoiding unexpected surprise.
What happens if I am completely satisfied with the offer without any negotiation?
If you accept an offer and are content with it, there may be no need to negotiate. However, it’s still essential to communicate clearly what employers will provide regarding things such as rewards based on performance or reimbursements for career training.
Can I negotiate my salary if I change careers entirely?
Negotiating salary when you change career paths can require extra planning because your prior experiences may not be directly applicable or encapsulate new responsibilities. Study what similar positions in similar fields offer to have a clear knowledge of the realistic expectations you can set for you, considering your specific circumstances.
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