How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it requires you to balance what you believe you’re worth with the amount an employer believes they’ll be able to afford. But, if it’s done correctly it can be positive 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. Learn how to bargain your salary in confidence.
Principal Takeaways
- Before you make a salary offer take a look at market rates and industry standards to confirm that your salary request is realistic.
- Get information from networking with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead time, including education & certification, years of relevant knowledge, accomplishments and achievements and unique skills abilities, industry expertise, and potential for training.
- In the course of negotiations, you should be assertive and confident, yet flexible and open-minded. Bring out tangible results you achieved in your previous roles.
- Maintain a positive mood throughout the conversation, and be active in your listening.
Do your research
Before entering into any negotiations regarding salary, it’s essential to do thorough research on standard industry rates and market rates to ensure that your salary request is reasonable. Factors that might impact this may include experience level, company size as well as location. (?). Another great method to gather data is to connect with your colleagues or those in your chosen area of work.
Research Online
With the aid of online resources, such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https: //www. glassdoor. com/Salaries/index. Htm) you can obtain a an additional perspective on the range of benchmarking salaries that companies offer for the exact job. It will provide you with an idea of current market prices and also other aspects related to the position.
Your Network Is Essential
Find out more about your situation by talking with acquaintances who have had similar positions, or contacting them via professional networks and brainstorming with members of professional organizations.
Create Talk points
Preparing for any negotiation is always time well spent. You’ll be more confident in the presentation of your case if have a clearly defined list of points to discuss ahead of time.
Here are a few instances of things that you might want to think about including in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Performances and results
- A unique set of skills and characteristics (e.g., bilingualism)
- Industry knowledge
- Training potential
Notes and notebooks can also help during conversations so that one doesn’t miss any important information.
Be confident & concise
In a salary negotiation it’s crucial to appear confident and articulate. Make sure you are clear about your past experiences, achievements and job expectations. It’s essential to maintain an optimistic tone throughout the discussion so that the employer feels like you’re not appearing to be insecure.
The Key to Tangible Results
Simply stating one is ambitious, hardworking, and aspire-driven person may not be enough to create an impactful appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made an impact in the workplace or how important are certain abilities that help an organisation.
Be flexible
If the employer cannot agree to your salary or compensation arrangement, remaining flexible and open-minded can help create space for dialogue. It is possible to inquire about alternative incentives like performance-based bonus models instead of Base salary(? ).
Keep your cool throughout the negotiation - regardless of how well or poorly it’s going being too combative or making unreasonable demands can cause a negative result for all parties affected.
Practice active listening
Listening is just as important as communicating during these types of conversations. Do listen actively from another party while you negotiate, listening to the specific requests and resolving doubts as much as you can while gently sticking with their original request. The goal is to achieve satisfactory results.
Use the lessons you’ve learned away from these conversations and incorporate it into any future negotiations you’ll likely take part in. Applying the advice above goes an enormous way to increasing the chance of achieving positive outcomes that are mutually beneficial.
| Your Network is Important | Have a chat with friends who have held similar roles or reaching out through networking networks for professionals as well as brainstorming members of professional associations. |
| Prepare talking points | Education & certification, Years of relevant experience and achievements, Unique abilities and skills (e.g. the ability to speak two languages), Industry knowledge, 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. (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is just as important in these types of conversations. You can take the lessons you’ve learned from these discussions and apply it to future negotiations you’ll likely take part in. |
Are you ready for your next career shift? Go through our Bendigo Professional Resume Writers ‘s services today!
Frequently Asked Questions
What is salary negotiation?
Negotiating salary is discussing and finalizing the compensation package for a job. When you negotiate this you are able to discuss more than just the salary you earn, but also benefits like health insurance, retirement plans, and more.
Why is it important to negotiate salary?
Negotiating your salary could give you a more secure financial future as well as indicate that you’re confident about your worth. It will also allow you to keep money off the table.
When should I start negotiating the salary?
It is recommended to begin negotiations immediately after receiving an offer so that everyone is informed of what’s being discussed. So, negotiations will focus on securing perfect terms while avoiding unexpected unintentional surprises.
What if I am happy with the offered package with no negotiation?
If you accept an offer and are happy with the offer, then there’s probably no need to bargain. It’s nevertheless important to have transparent communication about what your employer’s expectations in the form of rewards based on performance or reimbursements for career training.
Can I negotiate salary when changing careers?
Salary negotiation when changing career paths can require extra training because your previous work experiences might not translate or overlap with new responsibilities. Research what similar roles in similar fields pay, to develop a thorough idea of what realistic expectations are for you, based on the specific circumstances.
Ready for your next career move? Check our Bendigo Professional Resume Writers ‘s services today!
