How to Negotiate Salary for Your Next Career Move
A salary negotiation is a difficult conversation, as it involves balancing what think you’re worth versus what the employer thinks they’re able to pay. But, if it’s done correctly it can result in a positive experience for both sides that results in a higher pay for the employee as well as greater satisfaction for the employees in their work. Here’s how you can bargain your salary in confidence.
The most important takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure your salary offer is fair.
- Collect information through the networking of colleagues, using online resources such as LinkedIn Salary and Glassdoor, and contacting professional networks.
- Plan your talk points ahead of time, including education & certifications as well as years of relevant experiences, achievements and results as well as unique skill sets and qualifications, industry knowledge and training potential.
- In the course of negotiations, you should be assertive and confident, yet flexible and open. Show tangible results that you achieved in your previous positions.
- Maintain a positive tone throughout the conversation, and engage in active listening.
Do your research
Before you begin any salary negotiation, it’s important to conduct a thorough study of market rates and industry standards to make sure that your salary proposal is reasonable. Some factors that can affect the amount you are offered could be your experience levels, the size of your company and geographical location. (?). One way to gather data is to connect with colleagues or others in your chosen field of work.
Research Online
With the aid of online resources, such as [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https http://www. linkedin. com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. htm) you can obtain a an additional perspective on the salary range that benchmarking businesses are providing for same role which will gives you an idea of current market rates and other elements that are related to a job.
Your Network is Vital
Learn more by talking to colleagues who have been in similar positions, or contacting them through professionally-oriented networks and brainstorming with members of professional associations.
Plan Talking points
Time spent preparing for any meeting is time well spent. You’ll be more confident when making your case if you are prepared with a specific set of talk points that you have outlined prior to the time.
Here are a few ideas of things you might consider including in your salary negotiation:
- Certification and education
- Years of relevant experience
- Achievements and results
- Unique skill set and qualities (e.g. the ability to speak two languages)
- 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
In a negotiation for a salary it’s crucial to appear confident and clear. Be clear about your experience, achievements and job expectations. It’s important to maintain an optimistic tone throughout the conversation to ensure that your person who is hiring you feels that you’re not coming across as insecure.
Show tangible results
Simply saying that you are determined, hardworking and focused may not be enough to create an impressive appeal. It is important to present clear and precise data about how your previous positions made a difference in companies or how valuable are specific capabilities that can benefit an organization.
Keep your mind open
If the employer isn’t able to your salary or compensation package outright Being flexible and open can allow room for dialogue. You could ask about alternative incentive options such as performance-based bonuses or models instead of the Base salary(? ).
Be sure remain professional throughout the negotiation process - no matter how well or not: being too combative or imposing unreasonable demands will likely lead to a negative 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 your counterpart during negotiations. Listen to specific requests and resolving doubts if at all while keeping to the original request. Ultimately both parties should come out with acceptable results.
Learn from these conversations and incorporate it into any future negotiations that you’re likely to be involved in. Applying the advice above goes far in maximizing your chances of reaching positive, mutually beneficial results.
| Your Network is Important | Have a chat with friends who’ve held similar roles or reach out to professionally-oriented networks as well as brainstorming members within professional organizations. |
| Prepare Talk points | Qualifications and training, Years of relevant experience, Results and accomplishments, Unique ability and traits (e.g., bilingualism) Know-how in the field, Training potential |
| Be confident & concise | Talk clearly about your personal experiences as well as your achievements and expectations. Highlight Tangible Results. |
| Be flexible | Consider alternative incentives such as the performance-based bonuses instead of Base salary (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is equally important in these types of conversations. You can take the lessons you’ve learned from these discussions and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
Negotiating salary is discussing and finalizing the compensation package for a particular job. In this negotiation you will be able to discuss not only your base salary but also benefits like retirement plans, health insurance and many more.
Why is it important to negotiate salary?
Negotiating your salary can give you a more secure financial future as well as indicate that you’re confident about your worth. It will also allow you to avoid leaving money on the table.
When should I begin to negotiate my salary?
It is ideal to begin negotiations after receiving an offer so everyone is informed of what’s being discussed. In this way, negotiations will be focused on securing the best terms, while avoiding any unintentional surprises.
What happens if I am completely satisfied with the offer with no negotiation?
If you get an offer and you are satisfied with the offer, then there may be no need to discuss it. It’s nevertheless important to communicate clearly what the employer will offer with regards to things like compensation for training or performance-based bonuses.
What is the best way to negotiate my salary? changing careers?
Salary negotiation when changing career paths may require added planning because your prior experiences may not be directly applicable or encapsulate new responsibilities. Research what similar roles in related fields pay in order to get a solid idea of what realistic expectations are for you, based on the particular circumstances you face.
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