How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it is about balancing what you think you’re worth versus what an employer thinks they’re able to pay. But, if it’s done correctly it could be positive for both parties, resulting in a greater salary for the employee and greater satisfaction for the employees in their work. Here’s how you can bargain your salary in confidence.
Important Takeaways
- Before you make a salary offer make sure you research market rates as well as industry standards to ensure that your salary offer is fair.
- Collect information through connecting with colleagues through online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Prepare talking points ahead of time, including education and certificates in the form of years of relevant work experiences, achievements and results with a unique set of skills and qualities, industry knowledge, and potential for training.
- During the negotiation, you must be assured and confident but remain flexible and open. Highlight tangible results that you’ve had in your previous roles.
- Maintain a positive mood throughout the conversation, and practice 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 that your salary proposal is realistic. Things that may affect the amount you are offered could be levels of experience levels, the size of your company, and location (?). A great method of gathering data is to connect with your colleagues or those within your profession.
Research Online
Utilizing online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a more comprehensive information about the salary range that benchmarking companies pay for the same job. It will provide you with an idea of current market rate plus few other aspects related to the job.
Your Network is Vital
Get insight from talking to friends who have held similar roles or reaching out via professionals networks in addition to brainstorming members of professional associations.
Prepare Talk points
Time spent preparing for any negotiation is always time well spent. You’ll feel much more confident in giving your argument if you have a clearly defined list of points to discuss before the deadline.
Here are a few instances of items you may want to consider to include in your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- Results and achievements
- Unique set of skills and attributes (e.g. bilingualism)
- Industry knowledge
- Potential for training
Notes and notebooks can also help during conversations so it is not lost important details.
Be confident & concise
In a negotiation for a salary it’s crucial to appear confident and clear. Make sure you are clear about your past experiences of accomplishments and your expectations. It is important to keep a positive attitude throughout this discussion so that the person who is hiring you feels that you’re not being hostile.
The Key to Tangible Results
Simply saying that you are determined, hardworking and goal-oriented might not be enough to create an impressive appeal. Make sure to provide precise statistics about how your previous positions made a distinction in businesses or the value of specific abilities which benefit organisation
Keep your mind open
If the employer cannot agree to your salary request or compensation package Being flexible and open will allow for discussion. You can inquire about alternative incentives like performance-based bonus structures instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process no matter how well or not: getting too defensive or imposing unreasonable demands is likely to result in an unfavourable outcome for all parties affected.
Practice active listening
Listening is just as important as communicating in these types of conversations. Listen attentively from the your counterpart during negotiations. Listen to specific requests and resolving doubts, if necessary, while gently sticking with original request. Both parties should ultimately come out with acceptable results.
Consider the lessons you’ve learned from these conversations and apply it to future negotiations that you’re likely to be involved in. Applying the advice above goes in the right direction to increase your chances of reaching mutually beneficial outcomes.
| Your network is important | Talk to your friends who have held similar roles or reaching out through professional networks as well doing brainstorming members within professional organizations. |
| Make Talk points | Training and certification, years of relevant experience, Performance and accomplishments, Unique ability and traits (e.g. the ability to speak two languages) Knowledge of the industry, Training potential |
| Be confident & concise | Be clear about your experience as well as your achievements and expectations. Focus on tangible results. |
| Keep your mind open | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary. (?). Keep your professional conduct during the negotiation process. |
| Practice active listening | Listening is equally as important as communicating in these kinds of conversations. Consider what you’ve learned away from these conversations and incorporate it into any future negotiations you’ll likely take part in. |
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Frequently asked questions
What is the concept of salary negotiation?
Negotiating salary is negotiating and deciding on the compensation package for a particular job. During this process it is possible to discuss not only the base salary, but also additional benefits such as health insurance, retirement plans as well as other benefits.
Why is it important to negotiate a salary?
Negotiating your pay can provide you a better financial outlook and also show that you know your worth. It will also allow you to keep money off the table.
How soon should I negotiate for a raise?
It is best to begin negotiations immediately after receiving an offer so that everyone is aware of what is being negotiated. This way, the negotiations are focused on securing perfect terms while avoiding unexpected unpleasant surprises.
What if I am content with the deal I received with no negotiation?
If you get an offer and are happy with it, there may be no need to discuss it. But it’s important to have transparent communication about what the employer will offer in the form of performance-based bonuses or career-training reimbursements.
Can I negotiate my salary if changing careers?
Salary negotiation when changing career paths may require added preparation because your past experience might not directly translate or encapsulate new responsibilities. Find out what similar jobs in related fields pay, to develop a thorough knowledge of the realistic expectations you can set for yourself, in light of the specific circumstances.
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