How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an extremely difficult process, since it involves balancing what you consider your worth and what your employer believes they’re able to pay. If done properly it could be a positive experience for both sides that results in a better salary for the employee as well as greater satisfaction for the employees in their work. Here’s how to bargain your salary in confidence.
The most important takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure your salary proposal is realistic.
- Gather information through connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Plan your talk points ahead of time, including education & accreditation as well as years of relevant experiences, achievements and results with a unique set of skills and qualities, industry knowledge, and training potential.
- During negotiations, be confident and clear, but be flexible and open-minded. Highlight tangible results that you have achieved in previous positions.
- Maintain a positive mood throughout the conversation, and engage in active listening.
Do your research
Prior to entering any salary negotiation, you need to conduct a thorough study of standard industry rates and market rates to ensure that your salary request is reasonable. Things that may affect this include the level of experience, level, company size and the location of the company. (?). One way to gather information is to network with your colleagues or those in your chosen profession.
Research Online
With the help of some online resources, such as [LinkedIn Salary] (https http://www. linkedin. com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you can obtain a more comprehensive information about the benchmarking range of salaries that companies offer for the exact role which will gives you an idea of current market prices and also other facets of the job.
Your Network is Important
Find out more about your situation by talking with colleagues who have been in similar positions or reaching out through professional networks and brainstorming with members of professional associations.
Plan talking points
The time spent in preparing for a negotiations is always a good time spent. You’ll feel more confident when giving your argument if you have a set of talking points outlined in advance.
Here are some suggestions of what you might want to think about including in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Results and achievements
- Particular skill set and traits (e.g. language proficiency,)
- Industry-specific knowledge
- Potential for training
A notepad or notebook can aid in conversations, so it is not lost important points.
Be confident & concise
When you negotiate your salary It is important to be confident and articulate. Be clear about your experience as well as your achievements and expectations for the job. It’s crucial to maintain a positive tone throughout this discussion so that the employer doesn’t feel like you’re seeming unfriendly.
Show tangible results
Simply stating that someone is ambitious, hardworking, and aspire-driven person may not be enough to create an impactful appeal. Therefore, provide clear data regarding how prior roles have made a an impact in the workplace or what are the most valuable capabilities that help an organisation.
Keep your mind open
If your employer isn’t able to agree to your requested salary or compensation arrangement, remaining flexible and open-minded will allow for discussions. You may be able to ask for alternative incentives like performance-based bonus models instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process regardless of how well or poorly it’s going getting too defensive or imposing unreasonable demands will likely cause a negative result for everyone affected.
Practice active listening
Listening is equally as important as speaking during these kinds of conversations. Pay attention to other party during negotiations hearing the amount requested carefully and clarifying doubts, if necessary, while remaining in the spirit of your initial request. Ultimately both parties should come out with acceptable results.
Use the lessons you’ve learned from these conversations and incorporate it into the next negotiations that you’re likely to be involved in. By following the suggestions above, you will go in the right direction to increase your chances of reaching positive outcomes that are mutually beneficial.
| 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. |
| Prepare talking points | Training and certification, years of relevant experience and achievements, Unique ability and traits (e.g. the ability to speak two languages) Know-how in the field, ability to train |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Use tangible results to highlight your achievements. |
| Remain flexible | Find out about other incentives, such as incentive structures based on performance rather than Base salary (?). Be sure 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 the concept of salary negotiation?
Salary negotiation is the process of negotiating and deciding on the compensation package to be paid for your job. Through this process, you can discuss not only your base salary but also other benefits, such as retirement plans, health insurance and much more.
Why is it so important to negotiate a salary?
Negotiating your salary will give you a more secure financial future as well as indicate that you know your worth. It can also help you avoid leaving money on the table.
How soon should I negotiate a salary?
It is best to begin negotiations immediately after receiving an offer so that all parties are conscious of what’s being negotiated. This way, the discussions are focused on negotiating the best terms, while avoiding any surprises.
What if I am content with the offer without any negotiation?
If you receive an offer and are pleased with it, there may be no need to negotiate. It’s nevertheless important to be clear about what employers will provide regarding things such as performance-based bonuses or career-training reimbursements.
What is the best way to negotiate my salary? switching careers completely?
The negotiation of salary for changing career paths can require extra training because your previous work experience may not directly translate or be a part of the new job. Find out what similar jobs in related fields offer to have a clear idea of what realistic expectations are for yourself, given your specific circumstances.
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