How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it requires you to balance what you believe you’re worth with what your employer believes they’re able to afford. If it’s done right, it can be a positive experience for both parties that results in a greater salary for the employee, as well as greater employees’ engagement in their jobs. Here’s how to negotiate your salary with confidence.
Important Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure your salary request is realistic.
- Collect information through socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Create talking points ahead of the time, including education and accreditation in the form of years of relevant work experience, results & achievements as well as unique skill sets and qualities, industry knowledge, and training potential.
- During negotiations, be confident and clear, but be flexible and open. Show tangible results that you have achieved in previous roles.
- Keep a positive and upbeat tone throughout the conversation, and engage in active listening.
Do your research
Before you enter any salary negotiation, you need to conduct thorough research on market rates and industry standards to make sure your salary offer is realistic. Factors that might impact the amount you are offered could be experience degree, size of the company and the location of the company. (?). One way to gather information is through networking with colleagues or others within your area of work.
Research Online
Utilizing online resources such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. http://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you will get a an extensive view of the range of benchmarking salaries that companies offer for the exact job. This will give you an idea about current market rate plus few other elements that are related to the position.
Your Network Is Vital
Gain insight by speaking to friends who have held similar roles or reaching out via professionally-oriented networks in addition to brainstorming members within professional organizations.
Plan talking points
Preparing for any negotiations is always a good time spent. You’ll feel more confident when presenting your case if you have a clearly defined list of points to discuss prior to the time.
Here are a few suggestions of things that you may want to consider when negotiating your salary:
- Certification and education
- Years of relevant experience
- Performances and results
- Unique set of skills and attributes (e.g. the ability to speak two languages)
- Knowledge of the industry
- Training potential
A notepad or notebook can also help during conversations so that one doesn’t forget any crucial points.
Be confident & concise
In a salary negotiation it is essential to be confident and clear. Speak clearly about your experiences of accomplishments and your expectations. It’s important to maintain a positive attitude throughout this conversation so that the person who is hiring you feels that you’re not being aggressive.
Show tangible results
Simply stating that one is committed, hardworking, and focused may not be enough to create an impactful appeal. It is important to present clear and precise data on how previous roles made an impact in the workplace or how valuable are specific skills that can benefit an organization.
Remain flexible
If the employer isn’t able to your salary request or compensation package outright Being flexible and open can help create space for discussion. You could ask about alternative rewards, like performance-based bonus structures, instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation process - regardless of how successfully or poorly it’s going being too combative or making unreasonable demands will likely result in an unfavourable outcome for everyone that is.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Be attentive to the any other participant during negotiations, observing specific requests and resolving doubts if at all while maintaining the what you originally requested. In the end, both parties must arrive at acceptable outcomes.
Use the lessons you’ve learned from these conversations and apply it to future 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, mutually beneficial results.
| Your network is important | Have a chat with friends who have had similar experiences or reach out via professionally-oriented networks in addition to brainstorming members within professional organizations. |
| Plan talking points | Education & certification, Years of relevant experience and accomplishments, Unique skill set and qualities (e.g., bilingualism) Know-how in the field, the potential for training |
| Be confident & concise | Speak clearly about your experiences accomplishments, job goals and achievements. Highlight Tangible Results. |
| Stay flexible | Ask about alternative incentives like the performance-based bonuses instead of Base salary. (?). Keep your professional conduct during the negotiation. |
| Practice active listening | Listening is as crucial as communicating in these kinds of conversations. Consider what you’ve learned away from these conversations and incorporate them into the future conversations you’ll probably be involved in. |
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Frequently Asked Questions
What is the concept of salary negotiation?
The process involves discussing and finalizing the compensation package to be paid for your job. In this negotiation you will be able to discuss not only the base salary, but also benefits like health insurance, retirement plans and much more.
Why is it necessary to negotiate a salary?
Negotiating your salary will give you a better financial outlook as well as indicate that you’re confident about your worth. It will also allow you to not leave money on the table.
What is the best time to negotiate my salary?
It is best to begin negotiations immediately after receiving an offer so that all parties are conscious of what’s being discussed. In this way, discussions are focused on negotiating ideal terms while avoiding unintentional surprises.
What happens if I am satisfied with the offered package without negotiating?
If you receive an offer and are pleased with the offer, then there’s probably no need to bargain. However, it’s essential to communicate clearly what your employer’s expectations with regards to things like rewards based on performance or reimbursements for career training.
Can I negotiate my salary if changing careers?
Negotiating salary when you change careers may require more preparation due to the fact that your previous experiences might not translate or overlap with new responsibilities. Research what similar roles in similar industries pay, to develop a thorough understanding of realistic expectations for yourself, given your specific circumstances.
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