How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it involves balancing what you think you’re worth versus what the employer thinks they’ll be able to afford. However, if done correctly it can be an enjoyable experience for both sides that results in a higher pay for the employee and greater employees’ engagement in their jobs. Learn how to make your salary negotiation a success.
Principal Takeaways
- Before you negotiate your salary, research market rates and industry standards to ensure that your salary request is realistic.
- Collect information through connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead the time, including education and certification, years of relevant experience, the results and achievements with a unique set of skills and qualifications, industry knowledge and training opportunities.
- During the negotiation, be assured and confident but remain flexible and open-minded. You should highlight tangible results 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 a thorough study of market rates and industry standards to ensure that your salary request is reasonable. Some factors that can affect the amount you are offered could be your experience levels, the size of your company as well as location. (?). One great way to gather data is to connect with colleagues or other professionals who are in the same area of work.
Research Online
Utilizing online resources, such as [LinkedIn Salarywith the help of certain 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 obtain a more comprehensive information about the salary range that benchmarking businesses are providing for same job. This gives you an idea of the current market rate plus few other aspects related to the position.
Your Network Is Important
Get insight from talking to people who have had similar roles or reaching out through professionally-oriented networks and brainstorming with members within professional organizations.
Plan talking points
The time spent in preparing for a negotiation is always time well spent. You’ll be much more confident when the presentation of your case if have a clearly defined set of talking points outlined before the deadline.
Here are some ideas of things that you could consider when negotiating your salary:
- Education & certification
- Experience gained through years of relevant work
- Achievements and results
- A unique set of skills and characteristics (e.g. bilingualism)
- Industry-specific knowledge
- Potential for training
Notes and notebooks can aid in conversations, so that you don’t miss any important details.
Be confident & concise
In a salary negotiation It is important to be confident and clear. Be clear about your experience as well as your achievements and expectations for the job. It’s crucial to maintain an optimistic tone throughout the discussion so that the employer feels like you’re not coming across as insecure.
Highlight the tangible results
Simply stating that one is determined, hardworking and goal-oriented may not be enough for an appealing appeal. It is important to present clear and precise data regarding how prior roles have made a distinction in businesses or the value of specific abilities that can benefit an organization.
Be flexible
If your employer isn’t able to agree to your salary request or compensation plan in full, remaining flexible and open-minded will help open the door to discussion. It is possible to inquire about alternatives to incentives, such as performance-based bonus structures instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation process regardless of how well or not: being too combative or imposing unreasonable demands is likely to have a negative impact for everyone who is involved.
Practice active listening
Listening is equally as important as speaking during these kinds of conversations. Be attentive to the your counterpart during negotiations. Listen to specific requests and resolving questions if needed, but remaining in the spirit of your what you originally requested. In the end, both parties must achieve satisfactory results.
Consider the lessons you’ve learned from these discussions and incorporate it into any future negotiations that you’re likely to be involved in. By following the suggestions above, you will go a long way towards maximizing your chances of achieving mutually beneficial outcomes.
| Your Network is Important | Speak to friends who have had similar experiences or reaching out through networking networks for professionals and brainstorming with members of professional associations. |
| Make Talk points | Qualifications and training, Years of relevant experience and accomplishments, unique ability and traits (e.g. bi-lingualism) Knowledge of the industry, Training potential |
| Be confident & concise | Speak clearly about your experiences, achievements and job expectations. Highlight Tangible Results. |
| Remain flexible | Find out about other incentives, such as incentive structures based on performance rather than Base salary (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is just as important as communicating in these kinds of conversations. Consider what you’ve learned away from these conversations and incorporate it into any future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is the concept of salary negotiation?
The process involves negotiating and deciding on the compensation plan for a job. In this negotiation you are able to discuss more than just your salary base, but also additional benefits such as retirement plans, health insurance, and more.
Why is it so important to negotiate a salary?
Negotiating your salary can give you a more secure financial future as well as indicate that you know your worth. This can help you avoid leaving money on the table.
How soon should I negotiate a salary?
It is ideal to begin negotiations after you have received an offer, so that everyone is aware of the terms being discussed. This way, the negotiations will be focused on securing perfect terms while avoiding unexpected surprises.
What happens if I am satisfied with the package I was offered without any negotiation?
If you receive an offer and are pleased with the offer, then there’s no reason to negotiate. However, it’s essential to be clear about what the employer will offer regarding things such as performance-based bonuses or career-training reimbursements.
Can I negotiate my salary if switching careers completely?
Negotiating salary when you change career paths may require added planning because your prior experiences may not be directly applicable or encapsulate new responsibilities. Find out what similar jobs in similar fields pay in order to get a solid knowledge of the realistic expectations you can set for yourself, given your particular situation.
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