How to Negotiate Salary for Your Next Career Move
A salary negotiation is an extremely difficult process, since it involves balancing what you think you’re worth versus the amount an employer believes they’re able to pay. If done properly it can be positive for both the employer and employee, which results in a higher pay for the employee, as well as greater employees’ engagement in their jobs. Learn 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 confirm that your salary proposal is realistic.
- Gather information through connecting with colleagues through online resources such as LinkedIn Salary and Glassdoor, and also reaching out to professional networks.
- Make a list of talking points ahead time, including education and certificates in the form of years of relevant work experiences, achievements and results, unique skill set & capabilities, knowledge of the industry, and the potential for further training.
- In the course of negotiations, you should be confident and articulate but also flexible and open. Show tangible results that you have achieved in previous positions.
- Keep a positive attitude throughout the conversation, and practice active listening.
Do your research
Before you enter any salary negotiation, it’s important to do thorough research on the market and standards in the industry to ensure that your salary suggestion is realistic. Factors that might impact the amount you are offered could be the level of experience, level, company size as well as location. (?). One way to gather information is to make connections with your colleagues or those in your chosen job field.
Research Online
Utilizing online resources such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https: //www. linkedin. com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. http://www.salaries.com/index.html) you will get a more substantial approach towards the range of benchmarking salaries companies pay for the same job. This will give you an idea about current market prices and also other factors related to the job.
Your Network is Vital
Learn more by talking to people who have had similar positions, or contacting them through the professional networks as well doing brainstorming members within professional organizations.
Create talking points
Time spent preparing for any negotiation is always well spent. You’ll be more confident in giving your argument if you have a clear outline of your talking points ahead of time.
Here are some instances of things you may want to consider when negotiating your salary:
- Training and certification
- Years of relevant experience
- Achievements and results
- A unique set of skills and characteristics (e.g. the ability to speak two languages)
- Industry knowledge
- Potential for training
Also keeping notes/notebook handy can be helpful during conversations so that one doesn’t forget any important points.
Be confident & concise
In a negotiation for a salary it’s crucial to appear confident and articulate. Be clear about your experience, achievements and job expectations. It is important to keep your tone of voice positive throughout the conversation so that the employer isn’t appearing to be unfriendly.
Highlight the tangible results
Simply stating one is ambitious, hardworking, and goal-oriented might not be enough to make an strong appeal. Therefore, provide clear data about how your previous positions made a an impact in the workplace or how important are certain qualities that benefit the organization.
Remain flexible
If the employer cannot agree to your salary request or compensation package being flexible and open will allow for discussion. You may be able to ask for alternative incentive options such as performance-based bonuses or models instead of the Base salary(? ).
Make sure to remain professional during the negotiation process - no matter how well or badly it’s going getting too defensive or imposing unreasonable demands could lead to a negative outcome for everybody affected.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Be attentive to the another party while you negotiate, listening to the the amount requested carefully and clarifying questions if needed, but remaining in the spirit of your initial request. Both parties should ultimately come out with acceptable results.
Take what you have learned from these discussions and incorporate it into the next talks you’re likely to participate in. Following the tips above goes in the right direction to increase the chances of achieving positive, mutually beneficial results.
| Your network is important | Speak to friends who have been in similar positions or reaching out through networking networks for professionals and brainstorming with members within professional organizations. |
| Plan Talk points | Training and certification, years of relevant experience, Performance and accomplishments, Unique skill set and qualities (e.g. multilingualism) and industry knowledge. Training potential |
| Be confident & concise | Be clear about your experience accomplishments, job goals and achievements. Highlight Tangible Results. |
| Keep your mind open | Ask about alternative incentives like the performance-based bonuses instead of Base salary (?). You must remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally important as communicating in these kinds of conversations. You can take the lessons you’ve learned from these conversations and incorporate it into any future conversations you’ll probably be involved in. |
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Frequently Asked Questions
What is the concept of salary negotiation?
It is the act of discussing and finalizing the compensation package for a job. Through this process you are able to discuss more than only the base salary, but also other benefits, such as retirement plans, health insurance as well as other benefits.
Why why is it important to negotiate salary?
Negotiating your pay can provide you a better financial outlook as well as indicate that you are aware of your worth. It will also allow you to avoid leaving money on the table.
How soon should I negotiate a salary?
It is ideal to begin negotiations after receiving an offer so everyone is aware of what is being negotiated. This way, the negotiations will be focused on securing the best terms, while avoiding any surprise.
What happens if I am satisfied with the package I was offered with no negotiation?
If you receive an offer and are pleased with it, there’s no reason to negotiate. It’s nevertheless important to have transparent communication about what your employer’s expectations regarding things such as the performance-based bonus or career-training reimbursements.
What is the best way to negotiate my salary? switching careers completely?
Salary negotiation when changing career paths may require added preparation due to the fact that your previous experiences may not be directly applicable or encapsulate new responsibilities. Find out what similar jobs in related industries offer to have a clear knowledge of the realistic expectations you can set for yourself, given your particular situation.
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