How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it involves balancing what consider your worth and what your employer believes they’re able to afford. However, if done correctly it can result in positive for both parties, resulting in a higher salary for the employee and a greater satisfaction for the employees in their work. Here’s how you can bargain your salary in confidence.
Principal Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to confirm that your salary proposal is realistic.
- Get information from the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of time, including education and certifications, years of relevant experience, results & achievements and unique skills qualifications, industry knowledge and the potential for further training.
- During negotiations, be confident and clear, but be flexible and open-minded. Bring out tangible results you achieved in your previous positions.
- Maintain a positive mood throughout the conversation and be active in your listening.
Do your research
Prior to entering any pay negotiation, it’s crucial to do thorough research on current market rates and industry standards to make sure your salary offer is realistic. Some factors that can affect this may include the level of experience, levels, the size of your company, and location (?). A great method of gathering information is to make connections with colleagues and others within your job field.
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. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you can get an additional perspective on the salary range that benchmarking businesses pay for the same job. This gives you an idea about current market rates and other facets of a job.
Your Network Is Essential
Learn more by talking to friends who have held similar positions or reaching out via professional networks as well as brainstorming members of professional organizations.
Prepare Talk points
Time spent preparing for any meeting is time well spent. You’ll be much more confident in making your case if you have a clear set of talking points outlined prior to the time.
Here are a few suggestions of items you could consider when negotiating your salary:
- Certification and education
- Years of relevant experience
- Performances and results
- A unique set of skills and characteristics (e.g. bilingualism)
- Industry knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could also help during conversations so that you don’t miss any important information.
Be confident & concise
In a salary negotiation It is important to be confident and clear. Talk clearly about your work experience, achievements and job expectations. It is important to keep a positive attitude throughout this conversation to ensure that your employer doesn’t feel like you’re seeming insecure.
Highlight Tangible Results
Simply stating that one is ambitious, hardworking, and aspire-driven person may not be enough for an strong 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 abilities which benefit organisation
Stay flexible
If the employer isn’t able to your salary or compensation plan in full being flexible and open can help create space for discussion. You may be able to ask for alternatives to incentives, such as performance-based bonus models instead of the Base salary(? ).
Keep your cool throughout the negotiation process no matter how well or poorly it’s going: getting too defensive or imposing unreasonable demands is likely to cause a negative result for everyone that is.
Practice active listening
Listening is just as important as communicating during these types of conversations. Be attentive to the any other participant during negotiations, observing the amount requested carefully and clarifying doubts as much as you can while maintaining the their original request. In the end, both parties must achieve satisfactory results.
Take what you have learned from these discussions and incorporate them into future discussions you’ll probably be involved in. By following the suggestions above, you will go a long way towards maximizing the chances of achieving positive, mutually beneficial results.
| Your network is important | Talk to your friends who have held similar roles or connect with networking networks for professionals as well as brainstorming members within professional organizations. |
| Plan talking points | Education & certification, Years of relevant experience and accomplishments, Unique abilities and skills (e.g. the ability to speak two languages) Knowledge of the industry, ability to train |
| Be confident & concise | Talk clearly about your personal experiences your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Stay flexible | Ask about alternative incentives like performance-based bonus structures instead of Base salary. (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is just as important as communicating in these kinds of conversations. Take what you have learned from these conversations and apply it to future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
It is the act of negotiating and deciding on the compensation package for a job. Through this process you are able to discuss more than just your salary base, but also additional benefits such as retirement plans, health insurance as well as other benefits.
Why is it so important to discuss salary?
Negotiating your pay can provide you a better financial outlook and show you’re confident about your worth. It will also allow you to not leave money on the table.
What is the best time to negotiate for a raise?
It’s best to begin negotiating after you have received an offer, so that everyone is conscious of what’s being discussed. So, discussions are focused on negotiating ideal terms while avoiding surprise.
What happens if I am satisfied with the offered package without negotiating?
If you receive an offer and are content with it, then there’s probably no need to bargain. But it’s important to be clear about what employers will provide regarding things such as performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when I change careers entirely?
Salary negotiation when changing career paths may require added preparation due to the fact that your previous experiences might not translate or be a part of the new job. Learn about the salaries similar to those in similar industries pay, to develop a thorough comprehension of realistic expectations for you, based on your particular situation.
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