How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it involves balancing what believe you’re worth with what your employer believes they’ll be able to afford. If it’s done right it could be an enjoyable experience for both parties, resulting in a higher pay for the employee as well as greater engagement of the employee in their job. Learn how to negotiate your salary with confidence.
Important Takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to make sure that the salary you request is reasonable.
- Find out information by socializing with colleagues, using online tools like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Plan your talk points ahead of time, including education & certification and years of relevant experience, results & achievements as well as unique skill sets and abilities, industry expertise, and training opportunities.
- During negotiations, be confident and clear, but be flexible and open-minded. You should highlight tangible results you’ve had in your previous roles.
- Keep a positive attitude throughout the conversation, and engage in active listening.
Do your research
Before you begin any negotiations regarding salary, it’s essential to do thorough research on current market rates and industry standards to make sure your salary offer is reasonable. Some factors that can affect this may include levels of experience degree, size of the company, and location (?). One great way to gather data is to connect with colleagues or other professionals in your chosen profession.
Research Online
Utilizing online sources, like [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https: //www. linkedin. com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. htm) you can get an additional perspective on the benchmarking range of salary businesses pay for the same job. This gives you an idea about current market rates and other facets of a job.
Your Network Is Important
Gain insight by speaking to people who have had similar positions or reaching out through the professional networks in addition to brainstorming professionals in professional organizations.
Plan talking points
Preparing for a meeting is time well spent. You’ll be more confident when the presentation of your case if have a clearly defined set of talk points that you have outlined prior to the time.
Here are a few ideas of things you could consider when negotiating your salary:
- Education & certification
- Experience gained through years of relevant work
- Performances and results
- A unique set of skills and characteristics (e.g., bilingualism)
- Industry-specific knowledge
- Potential for training
The idea of keeping a notepad and/or notes handy could aid in conversations, so that you don’t miss any crucial points.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and articulate. Speak clearly about your experiences accomplishments, your job goals and achievements. It’s crucial to maintain a positive attitude throughout this conversation to ensure that your employer isn’t appearing to be hostile.
Highlight the tangible results
Simply stating that someone is driven, hardworking, and focused may not be enough for an impactful appeal. It is important to present clear and precise data about how your previous positions made a difference in companies or what are the most valuable capabilities that benefit the organization.
Stay flexible
If the employer cannot agree to your salary or compensation package outright, remaining flexible and open-minded will allow for dialogue. You can inquire about alternatives to incentives, such as performance-based bonus structures instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process - regardless of how smoothly or not: getting too defensive or making unreasonable demands could have a negative impact for everyone who is involved.
Practice active listening
Listening is as crucial as communicating in these types of conversations. Be attentive to the any other participant during negotiations, observing the amount requested carefully and clarifying doubts, if necessary, while keeping to the initial request. The goal is to come out with acceptable results.
Take what you have learned away from these conversations and apply it to future talks you’re likely to participate in. Applying the advice above goes a long way towards maximizing your chances of reaching positive, mutually beneficial results.
| Your Network is Important | Contact friends and acquaintances who’ve held similar roles or connect with professional networks as well as brainstorming members within professional organizations. |
| Prepare talking points | Certification and education, Years of relevant experience, Performance and achievements, unique abilities and skills (e.g. the ability to speak two languages), Industry knowledge, Potential for training |
| Be confident & concise | Be clear about your experience as well as your achievements and expectations. Highlight Tangible Results. |
| Remain flexible | Consider alternative incentives such as performance-based bonus structures instead of Base salary. (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is equally as important in these types of conversations. Consider what you’ve learned from these conversations and incorporate them into future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
The process involves negotiating and finalizing the compensation package for a position. Through this process it is possible to discuss not just the salary you earn, but also additional benefits such as retirement plans, health insurance as well as other benefits.
Why is it necessary to negotiate salary?
Negotiating your salary can give you a better financial outlook as well as indicate that you’re aware of what you’re worth. It also helps you not leave money on the table.
How soon should I negotiate the salary?
It’s best to begin negotiating following the acceptance of an offer to ensure that all parties are aware of what is being negotiated. So, negotiations will focus on securing the best terms, while avoiding any unpleasant surprises.
What happens if I am satisfied with the offer without negotiation?
If you accept an offer and are content with it, there’s no need to discuss it. However, it’s still essential to provide clear information about what the employer will offer in the form of the performance-based bonus or career-training reimbursements.
Can I negotiate salary when switching careers completely?
Negotiating salary when you change career paths could require additional training because your previous work experiences may not be directly applicable or overlap with new responsibilities. Study what similar positions in related industries pay in order to get a solid knowledge of the realistic expectations you can set for you, considering your particular situation.
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