How to Negotiate Salary for Your Next Career Move
Negotiating your salary is a difficult conversation, as it involves balancing what you consider your worth and the amount an employer believes they’re able to afford. However, if done correctly it can result in positive for both sides that results in a greater salary for the employee and a greater satisfaction for the employees in their work. Here’s how to bargain your salary in confidence.
Key Takeaways
- Before you make a salary offer take a look at market rates and industry standards to make sure that your salary request is realistic.
- Get information from the networking of colleagues, using online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of time, including education and accreditation in the form of years of relevant work experiences, achievements and results, unique skill set & qualities, industry knowledge, and training potential.
- In the course of negotiations, you should be confident and clear, but be flexible and open-minded. You should highlight tangible results you achieved in your previous positions.
- Maintain a positive tone throughout the conversation, and engage in active listening.
Do your research
Before you enter any pay negotiation, it’s crucial to conduct thorough research on standard industry rates and market rates to ensure that your salary suggestion is realistic. The factors that could affect the amount you are offered could be experience degree, size of the company and geographical location. (?). One way to gather information is to network with colleagues and others within your job field.
Research Online
With the help of some online sources, like [LinkedIn Salary] (https: //www. linkedin. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you can get more substantial approach towards the range of benchmarking salaries businesses are providing for same job. This gives you an idea of current market rates and other facets of the position.
Your Network Is Important
Gain insight by speaking to acquaintances who have had similar roles, or reaching out via the professional networks as well as brainstorming members of professional associations.
Plan Talking points
Preparing for any negotiations is always a good time spent. You’ll feel much more confident in presenting your case if you have a clear set of talk points that you have outlined in advance.
Here are some instances of what you might consider including in your salary negotiation:
- Training and certification
- Years of relevant experience
- Results and achievements
- Particular skill set and traits (e.g. language proficiency,)
- Know-how in the field
- Potential for training
Also keeping notes/notebook handy can assist during conversations to ensure it is not lost important details.
Be confident & concise
In a negotiation for a salary, it’s important to be confident and clear. Make sure you are clear about your past experiences accomplishments, your job goals and achievements. It’s essential to maintain a positive tone throughout this conversation to ensure that your employer isn’t appearing to be insecure.
Highlight the tangible results
Simply stating that someone is determined, hardworking and focused may not be enough to create an impactful appeal. So put forward clear statistics about how your previous positions made a an impact in the workplace or how valuable are specific qualities which benefit organisation
Remain flexible
If the employer isn’t able to agree to your salary or compensation package Being flexible and open can allow room for dialogue. It is possible to inquire about alternative incentives like performance-based bonus models instead of the Base salary(? ).
You must remain professional throughout the negotiation - regardless of how well or poorly it’s going fighting too much or making unreasonable demands is likely to result in an unfavourable outcome for all parties that is.
Practice active listening
Listening is just as important as communicating in these types of conversations. Be attentive to the any other participant during negotiations, observing requests carefully and clarifying doubts if at all while gently sticking with initial request. Ultimately both parties should come out with acceptable results.
Learn from these discussions and incorporate them into future discussions you’ll probably be involved in. Following the tips above goes an enormous way to increasing the chances of achieving positive, mutually beneficial results.
| Your network is important | Speak to friends who’ve held similar roles or connect with professionally-oriented networks in addition to brainstorming members of professional associations. |
| Create talking points | Education & certification, Years of relevant work experience, results and achievements, Unique skill set and qualities (e.g. multilingualism) and industry knowledge. Potential for training |
| Be confident & concise | Make sure you are clear about your experience accomplishments, job goals and achievements. Use tangible results to highlight your achievements. |
| Keep your mind open | Consider alternative incentives such as incentive structures based on performance rather than Base salary. (?). Keep your professional conduct throughout the negotiation process. |
| Practice active listening | Listening is as crucial as communicating in these kinds of conversations. Consider what you’ve learned from these conversations and incorporate them into the future negotiations that you’re likely to 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 deciding on the compensation package for a position. Through this process you will be able to discuss not only the base salary, but also additional benefits such as retirement plans, health insurance and much more.
Why is it important to bargain on salary?
Negotiating your salary can give you a better financial future as well as indicate that you know your worth. It will also allow you to avoid putting money on the table.
How soon should I negotiate the salary?
It is best to begin negotiations following the acceptance of an offer to ensure that everyone is aware of the terms being discussed. Then, the negotiations will focus on securing the best terms, while avoiding any surprises.
What happens if I am completely satisfied with the offered package without any negotiation?
If you receive an offer and are pleased with the offer, then there’s probably no need to discuss it. However, it’s essential to be clear about what employers will provide regarding things such as performance-based bonuses or career-training reimbursements.
What is the best way to negotiate my salary? changing careers?
Negotiating your salary after changing careers may require more preparation because your past experiences may not be directly applicable or overlap with new responsibilities. Study what similar positions in similar fields pay in order to get a solid comprehension of realistic expectations for yourself, given the particular circumstances you face.
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