How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an arduous process because it involves balancing what think you’re worth versus what an employer thinks they’re able to afford. If done properly it can be a positive experience for both sides that results in a better salary for the employee and a greater satisfaction for the employees in their work. Here’s how you can make your salary negotiation a success.
Key Takeaways
- Before you make a salary offer study market rates and industry standards to ensure that the salary you request is reasonable.
- Collect information through 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 and accreditation in the form of years of relevant work experiences, achievements and results, unique skill set & qualities, industry knowledge, and training potential.
- During negotiations, be assertive and confident, yet flexible and open. Show tangible results that you have achieved in previous roles.
- Maintain a positive tone throughout the conversation, and engage in active listening.
Do your research
Before you begin any salary negotiation, it’s important to conduct thorough research on market rates and industry standards to make sure your salary offer is reasonable. Some factors that can affect this may include the level of experience, levels, the size of your company and the location of the company. (?). A great method of gathering information is to network with colleagues or others who are in the same profession.
Research Online
With the aid of internet-based resources like [LinkedIn Salary] (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) You can find a more comprehensive information about the benchmarking range of salary companies pay for the same job. It will provide you with an idea of current market rates and other factors related to a job.
Your Network Is Important
Get insight from talking to friends who have held similar roles, or reaching out via the professional networks as well as brainstorming members of professional organizations.
Make Talking points
Preparing for a negotiations is always a good time spent. You’ll feel more confident in giving your argument if you have a clearly defined set of talk points that you have outlined prior to the time.
Here are a few instances of items you might consider when negotiating your salary:
- Certification and education
- Experience gained through years of relevant work
- Performances and results
- Particular skill set and traits (e.g. language proficiency,)
- Knowledge of the industry
- Potential for training
Notes and notebooks can also help during conversations so it is not lost important details.
Be confident & concise
During a salary negotiation, it’s important 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 essential to maintain an optimistic tone throughout the discussion so that the employer isn’t appearing to be unfriendly.
Highlight Tangible Results
Simply stating one is ambitious, hardworking, and goal-oriented may not be enough to make an appealing appeal. Therefore, provide clear data regarding how prior roles have made a an impact in the workplace or how important are certain capabilities which benefit organisation
Stay flexible
If the employer isn’t able to your requested salary or compensation plan in full, remaining flexible and open-minded will allow for dialog. You may be able to ask for alternative rewards, like performance-based bonus models instead of Base salary(? ).
Be sure remain professional throughout the negotiation - regardless of how well or badly it’s going Being too aggressive or imposing unreasonable demands can lead to a negative outcome for all parties involved.
Practice active listening
Listening is just as important as communicating in these types of conversations. Pay attention to another party while you negotiate, listening to the specific requests and resolving doubts, if necessary, while gently sticking with what you originally requested. Both parties should ultimately be able to reach a satisfactory conclusion.
Take what you have learned from these discussions and apply it to future negotiations that you’re likely to be involved in. Following the tips above goes an enormous way to increasing the chances of achieving mutually beneficial outcomes.
| Your network is important | Talk to your friends who have held similar roles or reach out via the professional network as well doing brainstorming members of professional associations. |
| Plan talking points | Training and certification, years of relevant work experience, results and achievements, Unique skill set and qualities (e.g. bi-lingualism) Know-how in the field, Potential for training |
| Be confident & concise | Speak clearly about your experiences accomplishments, job goals and achievements. Make sure you highlight tangible results. |
| Keep your mind open | You can inquire about alternative incentives such as the performance-based bonuses instead of Base salary. (?). Be sure remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as communicating in these kinds of conversations. You can take the lessons you’ve learned from these discussions and apply it to future negotiations that you’re likely to take part in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Negotiating salary is discussing and finalizing the compensation package for a position. During this process you will be able to discuss not only your base salary but also additional benefits such as health insurance, retirement plans, and more.
Why why is it important to discuss salary?
Negotiating your salary will give you a better financial outlook and also show that you know your worth. It also helps you keep money off the table.
When should I start negotiating for a raise?
It is ideal to begin negotiations after you have received an offer, so that everyone is informed of what’s being discussed. Then, the discussions are focused on negotiating perfect terms while avoiding unexpected unintentional surprises.
What if I am happy with the package I was offered without negotiating?
If you accept an offer and are pleased with the offer, then there’s probably no need to negotiate. However, it’s essential to provide clear information about what your employer’s expectations in terms of things like compensation for training or performance-based bonuses.
Do I have the option of negotiating my salary when I change careers entirely?
The negotiation of salary for changing careers may require more planning because your prior experiences may not be directly applicable or encapsulate new responsibilities. Research what similar roles in related fields pay, to develop a thorough knowledge of the realistic expectations you can set for you, considering your particular situation.
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