How to Negotiate Salary for Your Next Career Move
Negotiating your salary is difficult to talk about, because it involves balancing what you think you’re worth versus what the employer thinks they can afford. However, if done correctly, it can be a positive experience for both parties that results in a better salary for the employee and a greater employees’ engagement in their jobs. Learn how to negotiate your salary with confidence.
Principal Takeaways
- Before you make a salary offer take a look at market rates and industry standards to confirm that your salary offer is fair.
- Get information from networking with colleagues, using online tools like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Create talking points ahead of the time, including education and certifications and years of relevant experience, the results and achievements and unique skills capabilities, knowledge of the industry, and training potential.
- In the course of negotiations, you should be assertive and confident, yet flexible and open. Show tangible results that you’ve had in your previous positions.
- Maintain a positive mood throughout the conversation and practice active listening.
Do your research
Before entering into any negotiations regarding salary, it’s essential to do thorough research on standard industry rates and market rates to ensure that your salary suggestion is reasonable. Some factors that can affect this may include experience degree, size of the company, and location (?). One way to gather data is to connect with colleagues or others who are in the same job field.
Research Online
With the help of some internet-based resources like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. Htm) you can obtain a more substantial approach towards the salary range that benchmarking businesses are providing for same job. It will provide you with an idea of the current market rate plus few other factors related to the position.
Your Network is Vital
Find out more about your situation by talking with people who have had similar roles or reaching out through professionally-oriented networks and brainstorming with members of professional associations.
Create Talking points
Preparing for any negotiation is always well spent. You’ll be more confident when presenting your case if you are prepared with a specific set of talking points outlined in advance.
Here are a few ideas of what you could consider including in your salary negotiation:
- Education and certification
- Years of relevant experience
- Achievements and results
- Unique skill set and qualities (e.g. language proficiency,)
- Know-how in the field
- Potential for training
The idea of keeping a notepad and/or notes handy could aid in conversations, so that one doesn’t forget any crucial points.
Be confident & concise
When you negotiate your salary It is important to be confident and articulate. Be clear about your experience accomplishments, your job goals and achievements. It’s crucial to maintain your tone of voice positive throughout the dialogue so that the employer isn’t appearing to be hostile.
Highlight the tangible results
Simply stating that one is determined, hardworking and goal-oriented may not be enough to make an impactful appeal. Make sure to provide precise statistics on how previous roles made difference in companies or how important are certain abilities that benefit the organization.
Remain flexible
If the employer cannot agree to your requested salary or compensation arrangement being flexible and open will allow for dialogue. You could ask about alternative rewards, like performance-based bonus models instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation - no matter how well or poorly it’s going: fighting too much or imposing unreasonable demands is likely to have a negative impact for everybody who is involved.
Practice active listening
Listening is as crucial as communicating during these types of conversations. Be attentive to the another party while you negotiate, listening to the requests carefully and clarifying questions if needed, but keeping to the what you originally requested. Ultimately both parties should arrive at acceptable outcomes.
Consider the lessons you’ve learned away from these conversations and incorporate it into the next discussions you’ll probably be involved in. By following the suggestions above, you will go in the right direction to increase the chance of achieving mutually beneficial outcomes.
| Your network is important | Talk to your friends who have had similar experiences or reach out via professionally-oriented networks as well as brainstorming members of professional associations. |
| Make talking points | Qualifications and training, Years of relevant experience, Results and accomplishments, unique skills and characteristics (e.g. multilingualism) Know-how in the field, Training potential |
| Be confident & concise | Make sure you are clear about your experience your accomplishments and expectations for the job. Focus on tangible results. |
| Remain flexible | Find out about other incentives, such as incentive structures based on performance rather than Base salary. (?). Make sure to remain professional during the negotiation. |
| Practice active listening | Listening is just as important as communicating during these types of conversations. You can take the lessons you’ve learned from these conversations and incorporate them into the future discussions you’ll likely be involved in. |
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Frequently asked questions
What is salary negotiation?
It is the act of discussing and deciding on the compensation plan to be paid for your job. In this negotiation it is possible to discuss not just your salary base, but also benefits like retirement plans, health insurance, and more.
Why is it important to discuss salary?
Negotiating your pay can provide you a better financial future and show you’re confident about your worth. It will also allow you to keep money off the table.
What is the best time to negotiate a salary?
It’s best to begin negotiating after you have received an offer, so that everyone is aware of what is being discussed. So, discussions are focused on negotiating the best terms, while avoiding any unintentional surprises.
What if I am content with the package I was offered without any negotiation?
If you receive an offer and are happy with it, then there may be no need to negotiate. However, it’s essential to communicate clearly what the employers are willing to offer in terms of things like performance-based bonuses or career-training reimbursements.
Can I negotiate my salary if changing career paths entirely?
The negotiation of salary for changing career paths may require added training because your previous work experiences may not be directly applicable or overlap with new responsibilities. Study what similar positions in related industries pay to gain a robust comprehension of realistic expectations for you, considering the specific circumstances.
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