How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an extremely difficult process, since it involves balancing what you believe you’re worth with what your employer believes they’re able to afford. However, if done correctly it can result in a positive experience for both sides that results in a higher salary for the employee, as well as greater employees’ engagement in their jobs. Learn how to bargain your salary in confidence.
Principal Takeaways
- Before you make a salary offer take a look at market rates and industry standards to make sure that your salary proposal is realistic.
- Gather information through the networking of colleagues, using online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Make a list of talking points ahead time, including education & certifications as well as years of relevant experiences, achievements and results with a unique set of skills and qualifications, industry knowledge and the potential for further training.
- During the negotiation, you must be assertive and confident, yet flexible and open. You should highlight tangible results you have achieved in previous roles.
- Maintain a positive mood throughout the conversation, and engage in active listening.
Do your research
Prior to entering any negotiations regarding salary, it’s essential to conduct thorough research on the market and standards in the industry to ensure that your salary suggestion is reasonable. The factors that could affect this could include levels of experience degree, size of the company, and location (?). One way to gather data is to connect with colleagues and others who are in the same field of work.
Research Online
Utilizing online resources such as [LinkedIn Salarywith the help of certain online resources such as [LinkedIn Salary] (https http://www. linkedin. http://www.linkedin.com/salary) and [GlassdoorGlassdoor (https http://www. glassdoor. com/Salaries/index. Htm) you will get a an additional perspective on the salary range that benchmarking companies pay for the same job. This gives you an idea about current market rate plus few other aspects related to an employment.
Your Network Is Vital
Gain insight by speaking to acquaintances who have had similar roles or reaching out through professional networks in addition to brainstorming members of professional associations.
Create Talk points
Preparing for a negotiation is always well spent. You’ll feel more confident in making your case if you have a clearly defined list of points to discuss before the deadline.
Here are some examples of items you may want to consider to include in your salary negotiation:
- Training and certification
- Years of relevant experience
- The results and accomplishments
- Unique set of skills and attributes (e.g. language proficiency,)
- Industry-specific knowledge
- Training potential
A notepad or notebook 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 as well as your achievements and expectations for the job. It’s crucial to maintain a positive attitude throughout this conversation to ensure that your employer doesn’t feel like you’re being hostile.
Show tangible results
Simply stating one is determined, hardworking and goal-oriented may not be enough for an impactful appeal. So put forward clear statistics about how your previous positions made a distinction in businesses or how valuable are specific capabilities that benefit the organization.
Be flexible
If your employer isn’t able to your salary or compensation arrangement, remaining flexible and open-minded can help create space for discussions. You can inquire about alternative incentives like performance-based bonus structures instead of the Base salary(? ).
Make sure to remain professional throughout the negotiation process - regardless of how successfully or badly it’s going being too combative or imposing unreasonable demands could cause a negative result for everyone affected.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Pay attention to any other participant during negotiations, observing requests carefully and clarifying doubts, if necessary, while maintaining the what you originally requested. In the end, both parties must arrive at acceptable outcomes.
Learn from these conversations and incorporate it into any future talks you’re likely to participate in. Following the tips above goes in the right direction to increase your chances of reaching an agreement that is mutually beneficial.
| Your Network is Important | Speak to friends who’ve held similar roles or reach out via the professional network as well as brainstorming members of professional associations. |
| Create talking points | Certification and education, Years of relevant experience and achievements, unique abilities and skills (e.g. the ability to speak two languages) Know-how in the field, 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. |
| Remain flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. Take what you have learned away from these conversations and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently asked questions
What is salary negotiation?
Negotiating salary is discussing and deciding on the compensation package for a position. In this negotiation you will be able to discuss not only the base salary, but also benefits like retirement plans, health insurance and much more.
Why is it so important to negotiate a salary?
Negotiating your pay can provide you a better financial future as well as show that you are aware of your worth. It also helps you avoid putting money on the table.
When should I start negotiating a salary?
It is recommended to begin negotiations after receiving an offer so that everyone is aware of what is being negotiated. Then, the negotiations are focused on securing the best terms, while avoiding any surprises.
What happens if I am completely satisfied with the package I was offered without negotiating?
If you receive an offer and are pleased with the offer, then there’s probably no need to negotiate. But it’s important to have transparent communication about what employers will provide with regards to things like rewards based on performance or reimbursements for career training.
Can I negotiate my salary if switching careers completely?
Negotiating your salary after changing career paths may require added preparation because your past experiences might not translate or be a part of the new job. Find out what similar jobs in related industries pay to gain a robust knowledge of the realistic expectations you can set for yourself, in light of your specific circumstances.
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