How to Negotiate Salary for Your Next Career Move
A salary negotiation is difficult to talk about, because it involves balancing what you believe you’re worth with what your employer believes they can afford. But, if it’s done correctly, it can be positive for both the employer and employee, which results in a greater salary for the employee as well as greater engagement of the employee in their job. Here’s how to bargain your salary in confidence.
The most important takeaways
- Before you negotiate your salary, research market rates and industry standards to confirm that your salary request is realistic.
- Gather information through the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and contacting professional networks.
- Create talking points ahead of the time, including education and certifications, years of relevant experience, the results and achievements as well as unique skill sets and qualifications, industry knowledge and potential for training.
- During the negotiation, you must be confident and articulate but also flexible and open. You should highlight tangible results you’ve achieved in your previous roles.
- Keep a positive attitude throughout the conversation and practice active listening.
Do your research
Prior to entering any negotiations regarding salary, it’s essential to do thorough research on current market rates and industry standards to ensure that your salary suggestion is reasonable. Some factors that can affect this could include the level of experience, degree, size of the company and geographical location. (?). A great method of gathering data is to connect with colleagues or other professionals within your job field.
Research Online
With the aid of online resources such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https http://www. linkedin. www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. Htm) you can get an extensive view of the benchmarking range of salary businesses pay for the same job. This will give you an idea of the market rate plus few other aspects related to the job.
Your Network is Vital
Find out more about your situation by talking with people who have had similar positions, or contacting them via professional networks as well doing brainstorming professionals in professional organizations.
Prepare Talk points
The time spent in preparing for a negotiation is always well spent. You’ll be more confident in giving your argument if you are prepared with a specific outline of your talking points ahead of time.
Here are a few examples of things that you may want to consider when negotiating your salary:
- Education and certification
- Experience gained through years of relevant work
- Achievements and results
- Unique skill set and qualities (e.g. the ability to speak two languages)
- Know-how in the field
- Training potential
Also keeping notes/notebook handy can aid in conversations, so it is not lost important details.
Be confident & concise
During a salary negotiation it is essential to be confident and clear. Talk clearly about your work experience as well as your achievements and expectations for the job. It is important to keep a positive tone throughout this dialogue so that the employer isn’t seeming aggressive.
Show tangible results
Simply stating one is determined, hardworking and goal-oriented might not be enough for an strong appeal. Therefore, provide clear data about how your previous positions made a significant difference to companies or how valuable are specific abilities that benefit the organization.
Stay flexible
If the employer isn’t able to agree to your salary request or compensation plan in full, remaining flexible and open-minded can allow room for dialogue. You can inquire about alternative rewards, like performance-based bonus arrangements instead of Base salary(? ).
Be sure remain professional during the negotiation process - regardless of how smoothly or badly it’s going getting too defensive or imposing unreasonable demands will likely lead to a negative outcome for everyone involved.
Practice active listening
Listening is just as important as speaking during these kinds of conversations. Do listen actively from another party while you negotiate, listening to the 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.
Use the lessons you’ve learned from these conversations and apply it to future negotiations that you’re likely to be involved in. Following the tips above goes in the right direction to increase your chances of achieving mutually beneficial outcomes.
| Your Network is Important | Have a chat with friends who have been in similar positions or reach out via professional networks as well doing brainstorming members within professional organizations. |
| Plan talking points | Certification and education, Years of relevant work experience, results and accomplishments, Unique abilities and skills (e.g. multilingualism), Industry knowledge, the potential for training |
| Be confident & concise | Make sure you are clear about your experience, achievements and job expectations. Make sure you highlight tangible results. |
| Remain flexible | Ask about alternative incentives like performance-based bonus structures instead of Base salary (?). Make sure to remain professional during the negotiation. |
| Practice active listening | Listening is equally as important as speaking during these kinds of conversations. Learn away 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 the concept of salary negotiation?
It is the act of negotiating and deciding on the compensation package to be paid for your job. When you negotiate this you are able to discuss more than just the salary you earn, but also other benefits like health insurance, retirement plans, and more.
Why is it necessary to discuss salary?
Negotiating your salary could give you a more secure financial future as well as indicate that you’re aware of what you’re worth. It can also help you not leave money on the table.
When should I begin to negotiate a salary?
It’s best to begin negotiating after you have received an offer, so everyone is conscious of what’s being discussed. So, negotiations will be focused on securing the best terms, while avoiding any surprise.
What if I am content with the package I was offered with no negotiation?
If you are offered a job and are content with it, there’s no need to discuss it. But it’s important to provide clear information about what your employer’s expectations in the form of rewards based on performance or reimbursements for career training.
Can I negotiate salary when switching careers completely?
Negotiating salary when you change career paths can require extra preparation because your past experiences might not translate or overlap with new responsibilities. Find out what similar jobs in related industries offer to have a clear comprehension of realistic expectations for yourself, in light of your particular situation.
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