How to Negotiate Salary for Your Next Career Move
A salary negotiation is a difficult conversation, as it is about balancing what you think you’re worth versus what the employer thinks they can afford. If done properly, it can be positive for both parties that results in a better salary for the employee, as well as greater engagement of the employee in their job. Here’s how to make your salary negotiation a success.
Principal Takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to make sure that your salary offer is fair.
- Gather information through socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Make a list of talking points ahead the time, including education and accreditation and years of relevant experience, the results and achievements as well as unique skill sets and qualities, industry knowledge, and potential for training.
- During the negotiation, you must be confident and clear, but be flexible and open. Show tangible results that you achieved in your previous positions.
- Maintain a positive tone throughout the conversation, and be active in your listening.
Do your research
Before you enter any negotiations regarding salary, it’s essential to do thorough research on market rates and industry standards to ensure that your salary suggestion is reasonable. Factors that might impact this may include the level of experience, levels, the size of your company and the location of the company. (?). One great way to gather data is to connect with your colleagues or those in your chosen area of work.
Research Online
Utilizing online resources such as [LinkedIn Salary] (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can get an extensive view of the salary range that benchmarking that companies offer for the exact job. This will give you an idea of the current market rates and other aspects related to the position.
Your Network Is Essential
Get insight from talking to friends who have held similar roles, or reaching out via professional networks as well doing brainstorming professionals in professional organizations.
Create talking points
The time spent in preparing for a meeting is time well spent. You’ll feel much more confident in making your case if you are prepared with a specific set of talk points that you have outlined in advance.
Here are a few examples of things that you could consider including in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Performances and results
- Unique set of skills and attributes (e.g., bilingualism)
- Knowledge of the industry
- Potential for training
The idea of keeping a notepad and/or notes handy could be helpful during conversations so that one doesn’t miss any important details.
Be confident & concise
When you negotiate your salary, it’s important to be confident and articulate. Speak clearly about your experiences, achievements and job expectations. It’s essential to maintain a positive attitude throughout this conversation so that the person who is hiring you feels that you’re not being hostile.
Highlight Tangible Results
Simply saying that you are ambitious, hardworking, and goal-oriented might not be enough to generate an strong appeal. Make sure to provide precise statistics about how your previous positions made a an impact in the workplace or how valuable are specific skills that can benefit an organization.
Stay flexible
If the employer isn’t able to your salary request or compensation plan in full, remaining flexible and open-minded will allow for discussion. You could ask about alternative incentives like performance-based bonus models instead of the Base salary(? ).
Keep your cool throughout the negotiation process regardless of how smoothly or poorly it’s going: getting too defensive or imposing unreasonable demands could result in an unfavourable outcome for all parties that is.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Listen attentively from the any other participant during negotiations, observing requested amount carefully & clarifying questions if needed, but remaining in the spirit of your initial request. Ultimately both parties should be able to reach a satisfactory conclusion.
Learn from these discussions and incorporate them into future negotiations that you’re likely to be involved in. Applying the advice above goes a long way towards maximizing the chance of achieving an agreement that is mutually beneficial.
| Your network is important | Speak to friends who have been in similar positions or reaching out through professional networks as well doing brainstorming members of professional associations. |
| Make talking points | Education & certification, Years of relevant experience and achievements, Unique skill set and qualities (e.g. the ability to speak two languages) Know-how in the field, Potential for training |
| Be confident & concise | Be clear about your experience your accomplishments and expectations for the job. Use tangible results to highlight your achievements. |
| Be flexible | You can inquire about alternative incentives such as incentive structures based on performance rather than Base salary (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is equally important as communicating in these kinds of conversations. Take what you have learned from these conversations and incorporate it into any future discussions you’ll likely be involved in. |
Ready for your next career change? Check the services of our Horsham Resume ‘s services today!
Frequently asked questions
What is salary negotiation?
It is the act of discussing and deciding on the compensation plan for a particular job. Through this process it is possible to discuss not just your salary base, but also other benefits, such as retirement plans, health insurance and much more.
Why is it so important to discuss salary?
Negotiating your salary will give you a greater financial future and show you’re confident about your worth. It also helps you keep money off the table.
When should I start negotiating the salary?
It’s best to begin negotiating after you have received an offer, so that everyone is aware of the terms being discussed. Then, the negotiations will be focused on securing perfect terms while avoiding unexpected unpleasant surprises.
What happens if I am completely satisfied with the package I was offered without any negotiation?
If you accept an offer and you are satisfied with it, there’s no need to bargain. But it’s important to be clear about what your employer’s expectations in the form of rewards based on performance or reimbursements for career training.
Do I have the option of negotiating my salary when changing careers?
Negotiating your salary after changing career paths may require added preparation due to the fact that your previous experiences may not be directly applicable or encapsulate new responsibilities. Learn about the salaries similar to those in similar industries pay to gain a robust comprehension of realistic expectations for yourself, in light of your specific circumstances.
Are you ready for your next job move? Take a look at for our Horsham Resume ‘s services today!
