How to Negotiate Salary for Your Next Career Move
A salary negotiation can be difficult to talk about, because it requires you to balance what you consider your worth and what an employer thinks they’re able to afford. If it’s done right it could be positive for both sides that results in a higher salary for the employee and a greater employee engagement in their work. Here’s how to bargain your salary in confidence.
Important Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to ensure your salary request is realistic.
- Gather information through the networking of colleagues, using online tools like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Plan your talk points ahead of time, including education & certificates in the form of years of relevant work knowledge, accomplishments and achievements and unique skills qualities, industry knowledge, and training opportunities.
- During the negotiation, be assertive and confident, yet flexible and open-minded. Bring out tangible results you achieved in your previous positions.
- Keep a positive attitude throughout the conversation and practice active listening.
Do your research
Before entering into any salary negotiation, it’s important to conduct a thorough investigation of the market and standards in the industry to ensure that your salary suggestion is realistic. Factors that might impact this could include the level of experience, levels, the size of your company and geographical location. (?). A great method of gathering information is to make connections with colleagues and others in your chosen profession.
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. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. htm) you can get more comprehensive information about the benchmarking range of salary businesses are providing for same job. This will give you an idea of current market rate plus few other facets of an employment.
Your Network is Important
Get insight from talking to colleagues who have been in similar roles or reaching out via professionals networks as well as brainstorming professionals in professional organizations.
Make Talking points
Time spent preparing for any meeting is time well spent. You’ll feel more confident in giving your argument if you have a clearly defined set of talking points outlined ahead of time.
Here are some instances of things that you might want to think about including in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- The results and accomplishments
- Unique skill set and qualities (e.g. bilingualism)
- Industry knowledge
- Training potential
Also keeping notes/notebook handy can be helpful during conversations so it is not lost crucial points.
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 as well as your achievements and expectations for the job. It is important to keep your tone of voice positive throughout the dialogue so that the employer isn’t appearing to be insecure.
The Key to Tangible Results
Simply stating that one is committed, hardworking, and goal-oriented might not be enough for an strong appeal. So put forward clear statistics about how your previous positions made a difference in companies or how valuable are specific capabilities which benefit organisation
Remain flexible
If the employer isn’t able to agree to your requested salary or compensation plan in full Being flexible and open can allow room for dialogue. You may be able to ask for alternatives to incentives, such as performance-based bonus models instead of Base salary(? ).
Make sure to remain professional throughout the negotiation process regardless of how smoothly or poorly it’s going: being too combative or making unreasonable demands will likely cause a negative result for all parties who is involved.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Pay attention to any other participant during negotiations, observing requests carefully and clarifying questions if needed, but gently sticking with original request. The goal is to arrive at acceptable outcomes.
Consider the lessons you’ve learned from these discussions and incorporate it into any future negotiations you’ll likely take part in. The tips mentioned above will go in the right direction to increase your chances of achieving an agreement that is mutually beneficial.
| Your Network is Important | Speak to friends who’ve held similar roles or reach out via professionally-oriented networks in addition to brainstorming members within professional organizations. |
| Plan talking points | Training and certification, years of relevant work experience, results and achievements, unique ability and traits (e.g. multilingualism) Knowledge of the industry, Potential for training |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Make sure you highlight tangible results. |
| Be flexible | You can inquire about alternative incentives such as the performance-based bonuses instead of Base salary (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is equally as important as speaking during these kinds of conversations. Consider what you’ve learned 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?
Salary negotiation is the process of negotiating and finalizing the compensation package for a position. Through this process you are able to discuss more than only the base salary, but also additional benefits such as health insurance, retirement plans as well as other benefits.
Why is it necessary to bargain on salary?
Negotiating your salary will give you a more secure financial future and show you know your worth. This can help you keep money off the table.
How soon should I negotiate a salary?
It is best to begin negotiations after you have received an offer, so that everyone is aware of what is being negotiated. In this way, discussions are focused on negotiating optimal terms and avoid unintentional surprises.
What if I am happy with the offered package without negotiating?
If you receive an offer and are content with it, there’s probably no need to discuss it. But it’s important to communicate clearly what your employer’s expectations in terms of things like performance-based bonuses or career-training reimbursements.
Do I have the option of negotiating my salary when switching careers completely?
Salary negotiation when changing careers may require more preparation due to the fact that your previous experiences may not be directly applicable or overlap with new responsibilities. Study what similar positions in similar fields pay, to develop a thorough idea of what realistic expectations are for you, considering your particular situation.
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