How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be a difficult conversation, as it involves balancing what you consider your worth and what your employer believes they’ll be able to afford. If done properly it can be an enjoyable experience for both parties, resulting in a greater salary for the employee, as well as greater engagement of the employee in their job. Here’s how to negotiate your salary with confidence.
Important Takeaways
- Before you make a salary offer, research market rates and industry standards to ensure the salary you request is reasonable.
- Find out information by the networking of colleagues, using websites like LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Create talking points ahead of time, including education & certificates as well as years of relevant experience, results & achievements and unique skills abilities, industry expertise, and training potential.
- During the negotiation, you must be assertive and confident, yet flexible and open. Bring out tangible results you’ve achieved in your previous roles.
- Keep a positive attitude throughout the conversation and make sure you are listening actively.
Do your research
Prior to entering any negotiations regarding salary, it’s essential to conduct a thorough study of current market rates and industry standards to make sure that your salary proposal is reasonable. Some factors that can affect this could include the level of experience, degree, size of the company, and location (?). One great way to gather information is to network with your colleagues or those in your chosen area of work.
Research Online
With the help of online sources, like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you can get more comprehensive information about the benchmarking range of salaries businesses pay for the same job. This gives you an idea of the market rates and other aspects related to a job.
Your Network Is Vital
Learn more by talking to friends who have held similar positions, or contacting them through professionals networks as well as brainstorming members of professional associations.
Prepare Talking points
Time spent preparing for any negotiation is always time well spent. You’ll feel much more confident when giving your argument if you have a clearly defined outline of your talking points before the deadline.
Here are a few instances of things you might consider including in your salary negotiation:
- Education & certification
- Years of relevant experience
- Performances and results
- Unique set of skills and attributes (e.g. language proficiency,)
- Industry knowledge
- Potential for training
Also keeping notes/notebook handy can be helpful during conversations so it is not lost important points.
Be confident & concise
During a salary negotiation It is important to be confident and clear. Talk clearly about your work experience, 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 unfriendly.
Highlight Tangible Results
Simply stating that someone is determined, hardworking and goal-oriented might not be enough to generate an impactful appeal. Therefore, provide clear data regarding how prior roles have made a significant difference to companies or how valuable are specific abilities that help an organisation.
Keep your mind open
If the employer isn’t able to agree to your requested salary or compensation plan in full Being flexible and open can help create space for discussion. You may be able to ask for alternative incentives like performance-based bonus structures, instead of Base salary(? ).
Keep your cool throughout the negotiation process - regardless of how well or poorly it’s going: being too combative or imposing unreasonable demands can result in an unfavourable outcome for all parties who is involved.
Practice active listening
Listening is as crucial as communicating during these types of conversations. Be attentive to the any other participant during negotiations, observing the amount requested carefully and clarifying doubts if at all while keeping to the initial request. Ultimately both parties should be able to reach a satisfactory conclusion.
Learn from these conversations and incorporate it into any future talks you’re likely to participate in. By following the suggestions above, you will go an enormous way to increasing your chances of reaching positive outcomes that are mutually beneficial.
| Your Network is Important | Speak to friends who have had similar experiences or reaching out through the professional network as well as brainstorming members within professional organizations. |
| Prepare talking points | Qualifications and training, Years of relevant work experience, results 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 | Talk clearly about your personal experiences your accomplishments and expectations for the job. Focus on tangible results. |
| Be flexible | Find out about other incentives, such as performance-based bonus structures instead of Base salary (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally as important in these types of conversations. Take what you have learned from these conversations and apply it to future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
The process involves negotiating and deciding on the compensation plan to be paid for your job. When you negotiate this you are able to discuss more than just the salary you earn, but also additional benefits such as health insurance, retirement plans as well as other benefits.
Why why is it important to bargain on salary?
Negotiating your salary could give you a better financial outlook as well as indicate that you know your worth. It can also help you not leave money on the table.
When should I start negotiating my salary?
It is best to begin negotiations after receiving an offer so that everyone is informed of what’s being discussed. In this way, negotiations will focus on securing the best terms, while avoiding any surprises.
What if I am happy with the package I was offered with no negotiation?
If you get an offer and are happy with it, there’s no reason to discuss it. But it’s important to communicate clearly what the employers are willing to offer regarding things such as compensation for training or performance-based bonuses.
Can I negotiate salary when switching careers completely?
Negotiating your salary after changing career paths could require additional preparation due to the fact that your previous experiences may not be directly applicable or be a part of the new job. Find out what similar jobs in related industries 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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