How to Negotiate Salary for Your Next Career Move
A salary negotiation is an arduous process because it requires you to balance what you consider your worth and what your employer believes they can afford. But, if it’s done correctly it can result in positive for both parties that results in a greater salary for the employee, as well as greater employee engagement in their work. Learn how to negotiate your salary confidently.
Important Takeaways
- Before you negotiate your salary take a look at market rates and industry standards to ensure that the salary you request is reasonable.
- Collect information through socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, and contacting professional networks.
- Create talking points ahead of time, including education & certificates as well as years of relevant knowledge, accomplishments and achievements with a unique set of skills and qualities, industry knowledge, and the potential for further training.
- During negotiations, be confident and clear, but be flexible and open-minded. Bring out tangible results you have achieved in previous roles.
- Keep a positive attitude throughout the conversation, and make sure you are listening actively.
Do your research
Prior to entering any salary negotiation, you need to do thorough research on the market and standards in the industry to make sure your salary offer is reasonable. Things that may affect the amount you are offered could be experience level, company size and geographical location. (?). One way to gather information is through networking with colleagues or other professionals in your chosen profession.
Research Online
Utilizing online resources, such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https http://www. linkedin. com/salary) and [GlassdoorGlassdoor (https: //www. glassdoor. com/Salaries/index. htm) you can obtain a an additional perspective on the range of benchmarking salaries businesses are providing for same role which will gives you an idea of current market rate plus few other factors related to the job.
Your Network Is Vital
Learn more by talking to colleagues who have been in similar roles or reaching out through the professional networks as well doing brainstorming members of professional organizations.
Make Talk points
The time spent in preparing for a negotiation is always well spent. You’ll be much more confident when making your case if you have a clear set of talk points that you have outlined prior to the time.
Here are some ideas of things that you might want to think about including in your salary negotiation:
- Training and certification
- Experience gained through years of relevant work
- Results and achievements
- Unique skill set and qualities (e.g. bilingualism)
- Industry-specific knowledge
- Potential for training
Also keeping notes/notebook handy can aid in conversations, so that you don’t miss any important information.
Be confident & concise
In a negotiation for a salary it’s crucial to appear confident and articulate. Be clear about your experience of accomplishments and your expectations. It’s crucial to maintain an optimistic tone throughout the dialogue so that the employer doesn’t feel like you’re being hostile.
Highlight Tangible Results
Simply stating one is ambitious, hardworking, and focused may not be enough for an strong appeal. Make sure to provide precise statistics on how previous roles made an impact in the workplace or how important are certain qualities that benefit the organization.
Be flexible
If the employer cannot agree to your salary request or compensation plan in full, remaining flexible and open-minded will help open the door to dialog. You may be able to ask for alternative incentives like performance-based bonus arrangements instead of Base salary(? ).
Be sure remain professional throughout the negotiation - no matter how well or not: being too combative or making unreasonable demands is likely to result in an unfavourable outcome for everyone affected.
Practice active listening
Listening is just as important as communicating during these types of conversations. Do listen actively from another party while you negotiate, listening to the requested amount carefully & clarifying questions if needed, but maintaining the their original request. Both parties should ultimately achieve satisfactory results.
Use the lessons you’ve learned away from these conversations and apply it to future negotiations that you’re likely to be involved in. The tips mentioned above will go far in maximizing your chances of achieving positive outcomes that are mutually beneficial.
| Your network is important | Contact friends and acquaintances who have had similar experiences or connect with professional networks in addition to brainstorming members within professional organizations. |
| Plan Talk points | Training and certification, years of relevant experience, Performance and accomplishments, Unique ability and traits (e.g., bilingualism) and industry knowledge. ability to train |
| Be confident & concise | Be clear about your experience your accomplishments and expectations for the job. Focus on tangible results. |
| Remain flexible | You can inquire about alternative incentives such as incentive structures based on performance rather than Base salary (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is just as important as speaking during these kinds of conversations. Consider what you’ve learned from these conversations and apply it to future conversations you’ll probably be involved in. |
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Frequently asked questions
What is salary negotiation?
It is the act of discussing and finalizing the compensation package to be paid for your job. When you negotiate this, you can discuss not only the base salary, but also other benefits like health insurance, retirement plans, and more.
Why is it important to negotiate a salary?
Negotiating your salary will give you a greater financial future as well as show that you’re aware of what you’re worth. It can also help you keep money off the table.
What is the best time to negotiate the salary?
It is best to begin negotiations immediately after receiving an offer so that all parties are aware of the terms being discussed. In this way, negotiations are focused on securing perfect terms while avoiding unexpected unintentional surprises.
What if I am happy with the offered package without negotiating?
If you are offered a job and are content with the offer, then there’s probably no need to bargain. However, it’s essential to be clear about what the employer will offer in the form of the performance-based bonus or career-training reimbursements.
Can I negotiate salary when I change careers entirely?
Negotiating salary when you change career paths could require additional preparation due to the fact that your previous experiences may not be directly applicable or relate to the new duties. Research what similar roles in similar fields pay, to develop a thorough knowledge of the realistic expectations you can set for you, based on the particular circumstances you face.
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