How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be a difficult conversation, as it requires you to balance what you believe you’re worth with what an employer thinks they’ll be able to afford. If done properly it can result in positive for both the employer and employee, which results in a higher salary for the employee as well as greater employee engagement in their work. Here’s how you can negotiate your salary with confidence.
Key Takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure that your salary proposal is realistic.
- Gather information through connecting with colleagues through online tools like LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Plan your talk points ahead of time, including education and certifications in the form of years of relevant work experience, the results and achievements and unique skills capabilities, knowledge of the industry, and potential for training.
- During the negotiation, be assured and confident but remain flexible and open-minded. Show tangible results that you have achieved in previous roles.
- Keep a positive attitude throughout the conversation, and make sure you are listening actively.
Do your research
Before you enter any salary negotiation, it’s important to conduct a thorough study of market rates and industry standards to ensure that your salary request is realistic. Factors that might impact this include your experience level, company size, and location (?). One way to gather data is to connect with your colleagues or those in your chosen field of work.
Research Online
With the help of some internet-based resources like [LinkedIn Salary] (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) you can get an extensive view of the range of benchmarking salaries companies pay for the same role which will gives you an idea about current market prices and also other elements that are related to the job.
Your Network Is Important
Gain insight by speaking to acquaintances who have had similar roles, or reaching out via professionals networks as well doing brainstorming members of professional organizations.
Create Talking points
Preparing for a negotiation is always well spent. You’ll be more confident in the presentation of your case if are prepared with a specific set of talk points that you have outlined prior to the time.
Here are a few ideas of things that you may want to consider to include in your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Results and achievements
- A unique set of skills and characteristics (e.g. bilingualism)
- Industry-specific knowledge
- Training potential
Also keeping notes/notebook handy can assist during conversations to ensure it is not lost important points.
Be confident & concise
During a salary negotiation, it’s important to be confident and clear. Make sure you are clear about your past experiences of accomplishments and your expectations. It’s important to maintain a positive tone throughout this discussion so that the person who is hiring you feels that you’re not being aggressive.
Highlight the tangible results
Simply stating that one is determined, hardworking and focused may not be enough to generate an impactful appeal. It is important to present clear and precise data about how your previous positions made a difference in companies or how important are certain abilities which benefit organisation
Be flexible
If the employer isn’t able to agree to your salary or compensation arrangement, remaining flexible and open-minded will help open the door to dialogue. You could ask about alternatives to incentives, such as performance-based bonus structures, instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation - regardless of how successfully or poorly it’s going being too combative or imposing unreasonable demands is likely to lead to a negative outcome for everybody that is.
Practice active listening
Listening is just as important as communicating during these kinds of conversations. Do listen actively from another party while you negotiate, listening to the specific requests and resolving questions if needed, but remaining in the spirit of your initial request. In the end, both parties must come out with acceptable results.
Learn away from these conversations and incorporate it into any future negotiations that you’re likely to be involved in. Following the tips above goes a long way towards maximizing the chance of achieving positive, mutually beneficial results.
| Your Network is Important | Contact friends and acquaintances who have been in similar positions or connect with professional networks as well doing brainstorming members within professional organizations. |
| Create Talk points | Certification and education, Years of relevant work experience, results and achievements, Unique skill set and qualities (e.g. the ability to speak two languages) Knowledge of the industry, Potential for training |
| Be confident & concise | Speak clearly about your experiences accomplishments, job goals and achievements. Focus on tangible results. |
| Keep your mind open | Ask about alternative incentives like incentive structures based on performance rather than Base salary. (?). You must remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial in these types of conversations. You can take the lessons you’ve learned away from these conversations and incorporate it into any future discussions you’ll likely be involved in. |
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Frequently Asked Questions
What is salary negotiation?
It is the act of negotiating and finalizing the compensation package for a job. During this process it is possible to discuss not only your base salary but also benefits like retirement plans, health insurance and many more.
Why is it important to negotiate a salary?
Negotiating your pay can provide you a more secure financial future and also show that you know your worth. It will also allow you to avoid putting money on the table.
When should I begin to negotiate for a raise?
It is ideal to begin negotiations immediately after receiving an offer so everyone is informed of what’s being negotiated. In this way, negotiations will focus on securing ideal terms while avoiding unintentional surprises.
What happens if I am satisfied with the deal I received without any negotiation?
If you receive an offer and are pleased with it, then there’s no need to discuss it. However, it’s essential to be clear about what the employer will offer in the form of performance-based bonuses or career-training reimbursements.
Can I negotiate salary when changing careers?
Negotiating your salary after changing career paths can require extra planning because your prior experiences may not be directly applicable or encapsulate new responsibilities. Study what similar positions in related industries offer to have a clear idea of what realistic expectations are for you, based on the specific circumstances.
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