How to Negotiate Salary for Your Next Career Move
Negotiating a salary can be an arduous process because it requires you to balance what you consider your worth and what an employer thinks they’re able to pay. If done properly, it can be an enjoyable experience for both parties, resulting in a better salary for the employee and a greater engagement of the employee in their job. Learn how to bargain your salary in confidence.
The most important takeaways
- Before you negotiate your salary take a look at market rates and industry standards to make sure that the salary you request is reasonable.
- Get information from socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Prepare talking points ahead of the time, including education and certificates, years of relevant experience, the results and achievements, unique skill set & qualities, industry knowledge, and the potential for further training.
- During negotiations, be assertive and confident, yet flexible and open. Show tangible results that you’ve achieved in your previous roles.
- Maintain a positive tone throughout the conversation and make sure you are listening actively.
Do your research
Before you begin any salary negotiation, it’s important to conduct thorough research on current market rates and industry standards to make sure that your salary proposal is realistic. The factors that could affect the amount you are offered could be levels of experience degree, size of the company and the location of the company. (?). One way to gather data is to connect with colleagues or other professionals in your chosen job field.
Research Online
With the help of some online resources, such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https: //www. linkedin. https://www.linkedin.com/salary) and [Glassdoorglassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you can obtain a more comprehensive information about the range of benchmarking salaries businesses pay for the same role which will gives you an idea about current market rates and other aspects related to the position.
Your Network Is Vital
Gain insight by speaking to friends who have held similar roles or reaching out through professionally-oriented networks as well as brainstorming members of professional associations.
Create talking points
Preparing for a negotiation is always well spent. You’ll be much more confident when presenting your case if you are prepared with a specific list of points to discuss before the deadline.
Here are some suggestions of things you might want to think about including in your salary negotiation:
- Certification and education
- Experience gained through years of relevant work
- Results and achievements
- A unique set of skills and characteristics (e.g. bilingualism)
- Know-how in the field
- Training potential
Also keeping notes/notebook handy can also help during conversations so that you don’t miss any important details.
Be confident & concise
During a salary negotiation it’s crucial to appear confident and articulate. Be clear about your experience, achievements and job expectations. It is important to keep an optimistic tone throughout the discussion so that the employer isn’t being aggressive.
Show tangible results
Simply stating that someone is driven, hardworking, and aspire-driven person may not be enough for an strong appeal. Therefore, provide clear data about how your previous positions made a distinction in businesses or how important are certain skills which benefit organisation
Remain flexible
If your employer isn’t able to your salary or compensation package being flexible and open will allow for discussions. You could ask about alternatives to incentives, such as performance-based bonus arrangements instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation process no matter how well or poorly it’s going getting too defensive or imposing unreasonable demands will likely lead to a negative outcome for all parties that is.
Practice active listening
Listening is as crucial as communicating in these types of conversations. Do listen actively from your counterpart during negotiations. Listen to specific requests and resolving doubts as much as you can while gently sticking with initial request. The goal is to achieve satisfactory results.
Consider the lessons you’ve learned from these discussions and apply it to future negotiations you’ll likely take part in. Applying the advice above goes an enormous way to increasing your chances of reaching mutually beneficial outcomes.
| Your network is important | Talk to your friends who have had similar experiences or reaching out through professional networks as well doing brainstorming members of professional associations. |
| Prepare talking points | Qualifications and training, Years of relevant work experience, results and accomplishments, Unique ability and traits (e.g. multilingualism) Knowledge of the industry, ability to train |
| Be confident & concise | Talk clearly about your personal experiences as well as your achievements and expectations. Focus on tangible results. |
| Remain flexible | Consider alternative incentives such as bonuses based on performance instead of Base salary. (?). Make sure to remain professional during the negotiation. |
| Practice active listening | Listening is as crucial as communicating during these types of conversations. Consider what you’ve learned from these discussions and incorporate them into the future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
Salary negotiation is the process of negotiating and deciding on the compensation package for a particular job. During this process you will be able to discuss not only your base salary but also benefits like retirement plans, health insurance and many more.
Why is it important to bargain on salary?
Negotiating your salary can give you a more secure financial future and show you are aware of your worth. It will also allow you to not leave money on the table.
When should I start negotiating the salary?
It is ideal to begin negotiations after receiving an offer so that all parties are informed of what’s being discussed. This way, the discussions are focused on negotiating perfect terms while avoiding unexpected unintentional surprises.
What if I am happy with the offer without negotiation?
If you are offered a job and you are satisfied with the offer, then there’s probably no need to bargain. But it’s important to provide clear information about what the employers are willing to offer with regards to things like rewards based on performance or reimbursements for career training.
Do I have the option of negotiating my salary when switching careers completely?
The negotiation of salary for changing careers may require more training because your previous work experience may not directly translate or encapsulate new responsibilities. Research what similar roles in related industries pay to gain a robust comprehension of realistic expectations for yourself, in light of the particular circumstances you face.
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