How to Negotiate Salary for Your Next Career Move
Negotiating your salary is an extremely difficult process, since it involves balancing what consider your worth and what your employer believes they’re able to afford. But, if it’s done correctly it could be an enjoyable experience for both the employer and employee, which results in a better salary for the employee, as well as greater engagement of the employee in their job. Here’s how you can make your salary negotiation a success.
Key Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to make sure that your salary offer is fair.
- Get information from the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Make a list of talking points ahead time, including education and accreditation and years of relevant experiences, achievements and results and unique skills qualifications, industry knowledge and the potential for further training.
- During the negotiation, you must be assured and confident but remain flexible and open. Show tangible results that you’ve had in your previous roles.
- Maintain a positive mood throughout the conversation and be active in your listening.
Do your research
Before you begin any pay negotiation, it’s crucial to conduct a thorough investigation of market rates and industry standards to ensure that your salary request is realistic. Things that may affect this could include your experience levels, the size of your company, and location (?). Another great method to gather information is to network with colleagues or other professionals in your chosen profession.
Research Online
With the help of online sources, like [LinkedIn Salary] (https: //www. linkedin. http://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 salaries businesses are providing for same job. This will give you an idea about current market rates and other factors related to an employment.
Your Network is Vital
Learn more by talking to people who have had similar roles, or reaching out through professional networks and brainstorming with professionals in professional organizations.
Prepare Talk points
Preparing for any meeting is time well spent. You’ll be much more confident when giving your argument if you are prepared with a specific list of points to discuss prior to the time.
Here are a few instances of things that you might want to think about to include in your salary negotiation:
- Education and certification
- Experience gained through years of relevant work
- Results and achievements
- Unique set of skills and attributes (e.g. language proficiency,)
- Knowledge of the industry
- Training potential
A notepad or notebook can aid in conversations, so it is not lost important information.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and clear. Talk clearly about your work experience accomplishments, your job goals and achievements. It’s important to maintain a positive tone throughout this discussion so that the employer feels like you’re not appearing to be insecure.
Highlight Tangible Results
Simply stating one is determined, hardworking and goal-oriented might not be enough for an impactful appeal. Make sure to provide precise statistics regarding the ways in which previous jobs made difference in companies or how valuable are specific capabilities which benefit organisation
Keep your mind open
If the employer cannot agree to your requested salary or compensation plan in full, remaining flexible and open-minded will help open the door to dialogue. It is possible to inquire about alternative incentives like performance-based bonus models instead of Base salary(? ).
Be sure remain professional throughout the negotiation - regardless of how successfully or poorly it’s going getting too defensive or imposing unreasonable demands could result in an unfavourable outcome for everyone who is involved.
Practice active listening
Listening is just as important as communicating during these types of conversations. Do listen actively from other party during negotiations hearing requests carefully and clarifying doubts as much as you can while remaining in the spirit of your initial request. Ultimately both parties should arrive at acceptable outcomes.
Take what you have learned away from these conversations and incorporate them into future discussions you’ll probably be involved in. By following the suggestions above, you will go an enormous way to increasing your chances of reaching positive, mutually beneficial results.
| Your network is important | Have a chat with friends who’ve held similar roles or reach out via networking networks for professionals in addition to brainstorming members of professional associations. |
| Plan talking points | Training and certification, years of relevant work experience, results and accomplishments, Unique skill set and qualities (e.g. multilingualism) Knowledge of the industry, ability to train |
| Be confident & concise | Be clear about your experience, achievements and job expectations. Make sure you highlight tangible results. |
| Stay flexible | Find out about other incentives, such as the performance-based bonuses instead of Base salary (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is equally important as communicating in these kinds of conversations. You can take the lessons you’ve learned from these discussions and incorporate it into any future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
The process involves discussing and finalizing the compensation package to be paid for your job. Through this process you will be able to discuss not just the salary you earn, but also other benefits, such as health insurance, retirement plans and much more.
Why is it necessary to bargain on salary?
Negotiating your pay can provide you a better financial outlook and show you’re aware of what you’re worth. This can help you keep money off the table.
When should I start negotiating my salary?
It is best to begin negotiations immediately after receiving an offer so that everyone is aware of what is being discussed. Then, the negotiations are focused on securing optimal terms and avoid surprise.
What if I am happy with the offered package without negotiating?
If you accept an offer and are pleased with it, there’s probably no need to bargain. However, it’s essential to have transparent communication about what employers will provide regarding things such as 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 career paths can require extra training because your previous work experiences might not translate or overlap with new responsibilities. Study what similar positions in similar fields pay to gain a robust understanding of realistic expectations for you, based on the specific circumstances.
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