How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it involves balancing what believe you’re worth with the amount an employer believes they’ll be able to afford. But, if it’s done correctly it can result in a positive experience for both the employer and employee, which 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 make sure you research market rates as well as industry standards to confirm that your salary proposal is realistic.
- Find out information by connecting with colleagues through websites like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Create talking points ahead of the time, including education and certificates and years of relevant experience, results & achievements, unique skill set & qualities, industry knowledge, and training potential.
- In the course of negotiations, you should be assured and confident but remain flexible and open. Bring out tangible results you have achieved in previous positions.
- Maintain a positive mood throughout the conversation, and be active in your listening.
Do your research
Before you begin any salary negotiation, you need to conduct thorough research on standard industry rates and market rates to ensure that your salary request is realistic. Some factors that can affect this include experience degree, size of the company, and location (?). A great method of gathering information is to make connections with colleagues and others in your chosen area of work.
Research Online
With the help of online sources, like [LinkedIn Salarywith the help of certain 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 an extensive view of the benchmarking range of salaries that companies offer for the exact job. It will provide you with an idea of the current market rates and other factors related to the job.
Your Network Is Important
Learn more by talking to people who have had similar roles, or reaching out through professional networks as well doing brainstorming members of professional organizations.
Make Talk points
Preparing for a meeting is time well spent. You’ll feel much more confident in giving your argument if you have a clear set of talk points that you have outlined ahead of time.
Here are some instances of things that you could consider during your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- The results and accomplishments
- Particular skill set and traits (e.g. bilingualism)
- Know-how in the field
- Potential for training
Notes and notebooks can assist during conversations to ensure that one doesn’t miss any crucial points.
Be confident & concise
During a salary negotiation it is essential to be confident and articulate. Talk clearly about your work experience, achievements and job expectations. It is important to keep a positive attitude throughout this discussion so that the person who is hiring you feels that you’re not being insecure.
The Key to Tangible Results
Simply stating that someone is committed, hardworking, and aspire-driven person may not be enough to make an appealing appeal. So put forward clear statistics about how your previous positions made a significant difference to companies or the value of specific skills which benefit organisation
Keep your mind open
If your employer cannot agree to your requested salary or compensation plan in full, remaining flexible and open-minded can allow room for discussions. You can inquire about alternative incentive options such as performance-based bonuses or structures, instead of Base salary(? ).
You must remain professional throughout the negotiation process regardless of how well or poorly it’s going: being too combative or imposing unreasonable demands will likely have a negative impact for everyone affected.
Practice active listening
Listening is equally as important as communicating in these types of conversations. Pay attention to your counterpart during negotiations. Listen to requested amount carefully & clarifying doubts as much as you can while remaining in the spirit of your what you originally requested. Both parties should ultimately come out with acceptable results.
Consider the lessons you’ve learned away from these conversations and incorporate it into the next negotiations that you’re likely to be involved in. Applying the advice above goes in the right direction to increase your chances of reaching positive outcomes that are mutually beneficial.
| Your network is important | Speak to friends who have had similar experiences or reach out via the professional network and brainstorming with members of professional associations. |
| Create talking points | Qualifications and training, Years of relevant work experience, results and achievements, unique skills and characteristics (e.g. the ability to speak two languages) Knowledge of the industry, ability to train |
| Be confident & concise | Talk clearly about your personal experiences, achievements and job expectations. Highlight Tangible Results. |
| Be flexible | You can inquire about alternative incentives such as performance-based bonus structures instead of Base salary (?). Be sure remain professional throughout the negotiation process. |
| Practice active listening | Listening is equally 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 salary negotiation?
Negotiating salary is discussing and deciding on the compensation plan for a position. When you negotiate this, you can discuss not just your salary base, but also other benefits like health insurance, retirement plans, and more.
Why is it so important to bargain on salary?
Negotiating your salary can give you a more secure financial future and also show that you know your worth. This can help you avoid leaving money on the table.
When should I start negotiating for a raise?
It is best to begin negotiations after you have received an offer, so that all parties are aware of what is being negotiated. So, negotiations will be focused on securing ideal terms while avoiding unintentional surprises.
What happens if I am satisfied with the package I was offered with no negotiation?
If you are offered a job and are happy with it, then there’s probably no need to negotiate. But it’s important to communicate clearly what your employer’s expectations in terms of things like compensation for training or performance-based bonuses.
Can I negotiate salary when 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 encapsulate new responsibilities. Study what similar positions in similar fields pay in order to get a solid knowledge of the realistic expectations you can set for yourself, given the particular circumstances you face.
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