How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be a difficult conversation, as it requires you to balance what you think you’re worth versus what an employer thinks they’re able to afford. But, if it’s done correctly it can result in a positive experience for both the employer and employee, which results in a higher salary for the employee as well as greater engagement of the employee in their job. Learn how to make your salary negotiation a success.
Principal Takeaways
- Before you negotiate your salary study market rates and industry standards to ensure your salary offer is fair.
- Collect information through networking with colleagues, using online resources like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Create talking points ahead of time, including education and accreditation and years of relevant experiences, achievements and results as well as unique skill sets and capabilities, knowledge of the industry, and potential for training.
- During the negotiation, you must be assured and confident but remain flexible and open. Bring out tangible results you achieved in your previous positions.
- Keep a positive and upbeat tone throughout the conversation and make sure you are listening actively.
Do your research
Prior to entering any pay negotiation, it’s crucial to conduct thorough research on the market and standards in the industry to make sure that your salary proposal is reasonable. Some factors that can affect this include the level of experience, levels, the size of your company and geographical location. (?). One way to gather information is through networking with colleagues or other professionals who are in the same profession.
Research Online
With the help 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 http://www. glassdoor. com/Salaries/index. Htm) you will get a an extensive view of the benchmarking range of salary businesses pay for the same job. It will provide you with an idea of the market rate and a few other aspects related to an employment.
Your Network is Vital
Find out more about your situation by talking with colleagues who have been in similar roles, or reaching out via the professional networks and brainstorming with members of professional organizations.
Plan Talking points
The time spent in preparing for a meeting is time well spent. You’ll feel much more confident in giving your argument if you have a outline of your talking points in advance.
Here are some ideas of things you might consider when negotiating your salary:
- Education and certification
- Years of relevant experience
- Achievements and results
- Unique skill set and qualities (e.g., bilingualism)
- Know-how in the field
- Potential for training
Also keeping notes/notebook handy can be helpful during conversations so that one doesn’t forget any important details.
Be confident & concise
In a negotiation for a salary it is essential to be confident and clear. Talk clearly about your work experience as well as your achievements and expectations for the job. It’s crucial to maintain a positive attitude throughout this discussion so that the employer doesn’t feel like you’re being unfriendly.
Highlight the tangible results
Simply saying that you are determined, hardworking and goal-oriented might not be enough to make an strong appeal. Make sure to provide precise statistics regarding how prior roles have made a distinction in businesses or how important are certain skills that benefit the organization.
Keep your mind open
If the employer isn’t able to agree to your requested salary or compensation package outright, remaining flexible and open-minded can allow room for dialog. You may be able to ask for alternatives to incentives, such as performance-based bonus structures instead of Base salary(? ).
You must remain professional throughout the negotiation process no matter how well or badly it’s going being too combative or making unreasonable demands is likely to cause a negative result for all parties that is.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Pay attention to your counterpart during negotiations. Listen to requests carefully and clarifying doubts if at all while remaining in the spirit of your original request. Both parties should ultimately come out with acceptable results.
Consider the lessons you’ve learned from these conversations and incorporate it into any future negotiations you’ll likely take part in. The tips mentioned above will go a long way towards maximizing your chances of reaching positive outcomes that are mutually beneficial.
| Your network is important | Talk to your friends who have been in similar positions or connect with the professional network as well doing brainstorming members within professional organizations. |
| Prepare Talk points | Certification and education, Years of relevant experience, Performance and achievements, Unique abilities and skills (e.g., bilingualism) Knowledge of the industry, Potential for training |
| Be confident & concise | Speak clearly about your experiences accomplishments, job goals and achievements. Focus on tangible results. |
| Stay flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary. (?). You must remain professional during the negotiation. |
| Practice active listening | Listening is equally as important as communicating during these types of conversations. Learn from these conversations and incorporate them into the future negotiations you’ll likely take part in. |
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Frequently asked questions
What is the concept of salary negotiation?
The process involves discussing and finalizing the compensation package for a position. During this process you are able to discuss more than only your base salary but also additional benefits such as health insurance, retirement plans and many more.
Why is it so important to bargain on salary?
Negotiating your pay can provide you a better financial future and show you know your worth. This can help you keep money off the table.
When should I begin to negotiate for a raise?
It is ideal to begin negotiations following the acceptance of an offer to ensure everyone is conscious of what’s being discussed. So, negotiations will be focused on securing ideal terms while avoiding surprise.
What if I am content with the deal I received without any negotiation?
If you are offered a job and are pleased with it, then there’s no reason to discuss it. But it’s important to provide clear information about what employers will provide with regards to things like performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when switching careers completely?
Negotiating your salary after changing career paths can require extra planning because your prior experiences might not translate or be a part of the new job. Find out what similar jobs in similar industries pay in order to get a solid comprehension of realistic expectations for yourself, given the particular circumstances you face.
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