How to Negotiate Salary for Your Next Career Move
A salary negotiation is an arduous process because it involves balancing what you believe you’re worth with what your employer believes they’ll be able to afford. If done properly it can result in positive for both parties that results in a better salary for the employee, as well as greater employee engagement in their work. Learn how to bargain your salary in confidence.
Key Takeaways
- Before you make a salary offer take a look at market rates and industry standards to make sure that your salary request is realistic.
- Gather information through networking with colleagues, using online resources like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Plan your talk points ahead of time, including education & certifications and years of relevant experience, the results and achievements, unique skill set & qualities, industry knowledge, and the potential for further training.
- During the negotiation, you must be confident and articulate but also flexible and open. You should highlight tangible results you achieved in your previous positions.
- Keep a positive attitude throughout the conversation and practice active listening.
Do your research
Before entering into any pay negotiation, it’s crucial to do thorough research on current market rates and industry standards to ensure that your salary request is reasonable. Some factors that can affect this may include your experience levels, the size of your company, and location (?). A great method of gathering information is through networking with colleagues or other professionals in your chosen job field.
Research Online
With the help of some internet-based resources like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) you can obtain a more comprehensive information about the range of benchmarking salaries businesses pay for the same role which will gives you an idea of the market rate and a few other aspects related to the position.
Your Network is Important
Find out more about your situation by talking with people who have had similar roles, or reaching out via the professional networks in addition to brainstorming members within professional organizations.
Plan Talk points
Preparing for any negotiations is always a good time spent. You’ll feel much more confident when making your case if you have a clearly defined list of points to discuss before the deadline.
Here are some suggestions of what you may want to consider during your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Results and achievements
- Particular skill set and traits (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 one doesn’t forget any important details.
Be confident & concise
In a salary negotiation It is important to be confident and clear. Speak clearly about your experiences accomplishments, your job goals and achievements. It’s important to maintain your tone of voice positive throughout the dialogue so that the employer isn’t appearing to be unfriendly.
The Key to Tangible Results
Simply stating one is driven, hardworking, and goal-oriented might not be enough for an appealing appeal. So put forward clear statistics on how previous roles made significant difference to companies or how important are certain capabilities that help an organisation.
Stay flexible
If your employer cannot agree to your requested salary or compensation plan in full, remaining flexible and open-minded can help create space for dialogue. You can inquire about alternatives to incentives, such as performance-based bonus structures instead of the Base salary(? ).
Be sure remain professional during the negotiation process - no matter how well or poorly it’s going: getting too defensive or making unreasonable demands is likely to result in an unfavourable outcome for all parties involved.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Listen attentively from the other party during negotiations hearing requests carefully and clarifying doubts as much as you can while remaining in the spirit of your their original request. Both parties should ultimately achieve satisfactory results.
Use the lessons you’ve learned from these conversations and incorporate it into any future talks you’re likely to participate in. By following the suggestions above, you will go in the right direction to increase your chances of achieving positive, mutually beneficial results.
| Your network is important | Contact friends and acquaintances who’ve held similar roles or connect with professionally-oriented networks and brainstorming with members of professional associations. |
| Plan Talk points | Training and certification, years of relevant experience, Performance and accomplishments, Unique abilities and skills (e.g. bi-lingualism), Industry knowledge, Potential for training |
| Be confident & concise | Talk clearly about your personal experiences your accomplishments and expectations for the job. Focus on tangible results. |
| Be flexible | Consider alternative incentives such as incentive structures based on performance rather than Base salary. (?). Make sure to remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as communicating in these kinds of conversations. Learn from these conversations and incorporate them into future discussions you’ll likely be involved in. |
Are you ready for your next career move? Explore out Geelong Resume ‘s services today!
Frequently asked questions
What is the concept of salary negotiation?
Salary negotiation is the process of negotiating and finalizing the compensation package for a position. Through this process you will be able to discuss not only the base salary, but also other benefits like health insurance, retirement plans and many more.
Why is it necessary to negotiate a salary?
Negotiating your pay can provide you a better financial future as well as show that you are aware of your worth. It will also allow you to avoid putting money on the table.
How soon should I negotiate my salary?
It is best to begin negotiations after receiving an offer so everyone is conscious of what’s being negotiated. Then, the negotiations will focus on securing ideal terms while avoiding unpleasant surprises.
What if I am happy with the offer with no negotiation?
If you accept an offer and are pleased with it, there’s no reason to negotiate. It’s nevertheless important to communicate clearly what employers will provide in the form of performance-based bonuses or career-training reimbursements.
Can I negotiate salary when changing career paths entirely?
Negotiating your salary after changing career paths could require additional preparation because your past experiences might not translate or encapsulate new responsibilities. Study what similar positions in related fields offer to have a clear knowledge of the realistic expectations you can set for yourself, given the particular circumstances you face.
Are you ready for your next career change? Take a look at the services of our Geelong Resume ‘s services today!
