How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an arduous process because it involves balancing what consider your worth and what an employer thinks they’re able to afford. If done properly it can be positive for both sides that results in a greater salary for the employee and a greater engagement of the employee in their job. Here’s how to negotiate your salary confidently.
Important Takeaways
- Before you negotiate your salary study market rates and industry standards to confirm that your salary proposal is realistic.
- Get information from networking with colleagues, using online resources like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Create talking points ahead of the time, including education and certifications and years of relevant experience, the results and achievements and unique skills capabilities, knowledge of the industry, and training opportunities.
- In the course of negotiations, you should be assertive and confident, yet flexible and open-minded. Highlight tangible results that you achieved in your previous positions.
- Maintain a positive tone throughout the conversation and practice active listening.
Do your research
Before you begin any pay negotiation, it’s crucial to conduct a thorough investigation of the market and standards in the industry to make sure your salary offer is realistic. The factors that could affect this could include experience levels, the size of your company and the location of the company. (?). Another great method to gather information is to make connections with colleagues or other professionals within your job field.
Research Online
Utilizing online resources such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can get more comprehensive information about the salary range that benchmarking businesses are providing for same role which will gives you an idea of the market rates and other factors related to a job.
Your Network Is Important
Get insight from talking to people who have had similar positions, or contacting them via professionals networks as well as brainstorming members of professional organizations.
Create talking points
Time spent preparing for any negotiation is always time well spent. You’ll be much more confident in presenting your case if you have a clear outline of your talking points ahead of time.
Here are some instances of things you may want to consider during your salary negotiation:
- Certification and education
- Years of relevant experience
- Achievements and results
- Unique skill set and qualities (e.g. the ability to speak two languages)
- Know-how in the field
- Training potential
A notepad or notebook can also help during conversations so it is not lost important details.
Be confident & concise
When you negotiate your salary it’s crucial to appear confident and clear. Speak clearly about your experiences of accomplishments and your expectations. It’s important to maintain a positive attitude throughout this dialogue so that the employer feels like you’re not seeming aggressive.
The Key to Tangible Results
Simply saying that you are committed, hardworking, and goal-oriented might not be enough to generate an appealing appeal. Therefore, provide clear data regarding how prior roles have made a difference in companies or the value of specific skills that help an organisation.
Be flexible
If your employer isn’t able to agree to your salary or compensation plan in full, remaining flexible and open-minded can allow room for discussions. You may be able to ask for alternative incentive options such as performance-based bonuses or structures instead of Base salary(? ).
Be sure remain professional throughout the negotiation - no matter how well or poorly it’s going: Being too aggressive or making unreasonable demands could have a negative impact for everyone who is involved.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Listen attentively from the another party while you negotiate, listening to the requests carefully and clarifying doubts if at all while maintaining the original 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. Following the tips above goes far in maximizing the chance of achieving positive, mutually beneficial results.
| Your Network is Important | Speak to friends who’ve held similar roles or reach out via the professional network and brainstorming with members of professional associations. |
| Make Talk points | Education & certification, Years of relevant work experience, results and achievements, Unique skill set and qualities (e.g. the ability to speak two languages) and industry knowledge. the potential for training |
| Be confident & concise | Talk clearly about your personal experiences as well as your achievements and expectations. Make sure you highlight tangible results. |
| Keep your mind open | You can inquire about alternative incentives such as incentive structures based on performance rather than Base salary. (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is equally as important as speaking during these kinds 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. |
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Frequently asked questions
What is the concept of salary negotiation?
It is the act of discussing and finalizing the compensation package to be paid for your job. In this negotiation you are able to discuss more than just your salary base, but also benefits like retirement plans, health insurance and many more.
Why is it important to bargain on salary?
Negotiating your salary will give you a better financial future as well as indicate that you are aware of your worth. It will also allow you to keep money off the table.
What is the best time to negotiate my salary?
It’s best to begin negotiating following the acceptance of an offer to ensure everyone is conscious of what’s being discussed. In this way, negotiations are focused on securing optimal terms and avoid surprises.
What happens if I am satisfied with the deal I received without any negotiation?
If you are offered a job and you are satisfied with the offer, then there’s probably no need to bargain. It’s nevertheless important to be clear about what the employer will offer in the form of performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when changing careers?
The negotiation of salary for changing careers may require more planning because your prior experience may not directly translate or relate to the new duties. Study what similar positions in similar industries pay, to develop a thorough idea of what realistic expectations are for you, based on your specific circumstances.
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