How to Negotiate Salary for Your Next Career Move
A salary negotiation can be difficult to talk about, because it is about balancing what you think you’re worth versus what your employer believes they’re able to pay. If it’s done right it can be a positive experience for both sides that results in a greater salary for the employee and greater engagement of the employee in their job. Here’s how to make your salary negotiation a success.
Principal Takeaways
- Before you negotiate your salary make sure you research market rates as well as industry standards to ensure that your salary request is realistic.
- Collect information through socializing with colleagues, using online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Create talking points ahead of the time, including education and certification in the form of years of relevant work experiences, achievements and results and unique skills qualifications, industry knowledge and potential for training.
- In the course of negotiations, you should be confident and clear, but be flexible and open. Highlight tangible results that you’ve achieved in your previous roles.
- Maintain a positive mood throughout the conversation and engage in active listening.
Do your research
Before you enter any pay negotiation, it’s crucial to conduct thorough research on current market rates and industry standards to make sure your salary offer is reasonable. Things that may affect the amount you are offered could be experience level, company size as well as location. (?). Another great method to gather information is through networking with colleagues and others in your chosen field of work.
Research Online
Utilizing online resources such as [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. htm) you can get more comprehensive information about the benchmarking range of salaries businesses pay for the same role which will gives you an idea about current market rate and a few other factors related to an employment.
Your Network is Vital
Get insight from talking to friends who have held similar positions, or contacting them via professionals networks as well doing brainstorming professionals in professional organizations.
Create Talking points
The time spent in preparing for a negotiation is always well spent. You’ll be much more confident in giving your argument if you have a set of talk points that you have outlined before the deadline.
Here are a few suggestions of things you might want to think about during your salary negotiation:
- Education & certification
- Experience gained through years of relevant work
- Performances and results
- A unique set of skills and characteristics (e.g. the ability to speak two languages)
- Know-how in the field
- Training potential
A notepad or notebook can aid in conversations, so that one doesn’t miss any important points.
Be confident & concise
In a negotiation for a salary It is important to be confident and articulate. Speak clearly about your experiences of accomplishments and your expectations. It’s essential to maintain an optimistic tone throughout the discussion so that the employer doesn’t feel like you’re being unfriendly.
Show tangible results
Simply stating that someone is committed, hardworking, and goal-oriented might not be enough to create an appealing appeal. It is important to present clear and precise data on how previous roles made significant difference to companies or how important are certain qualities that can benefit an organization.
Keep your mind open
If your employer isn’t able to agree to your requested salary or compensation plan in full being flexible and open can help create space for discussions. It is possible to inquire about alternative incentives like performance-based bonus structures, instead of the Base salary(? ).
You must remain professional throughout the negotiation process regardless of how well or not: getting too defensive or making unreasonable demands could have a negative impact for everybody involved.
Practice active listening
Listening is as crucial as communicating during these kinds of conversations. Be attentive to the other party during negotiations hearing specific requests and resolving doubts if at all while gently sticking with their original request. Ultimately both parties should be able to reach a satisfactory conclusion.
Use the lessons you’ve learned away from these conversations and incorporate them into future talks you’re likely to participate in. Applying the advice above goes a long way towards maximizing the chance of achieving positive, mutually beneficial results.
| Your network is important | Speak to friends who have been in similar positions or reach out via networking networks for professionals as well as brainstorming members of professional associations. |
| Make talking points | Training and certification, years of relevant experience, Results and achievements, unique skills and characteristics (e.g. bi-lingualism) and industry knowledge. Potential for training |
| Be confident & concise | Make sure you are clear about your experience as well as your achievements and expectations. Focus on tangible results. |
| Keep your mind open | You can inquire about alternative incentives such as bonuses based on performance instead of Base salary. (?). Be sure remain professional during the negotiation. |
| Practice active listening | Listening is just as important as communicating during these types of conversations. Consider what you’ve learned from these conversations and apply it to future negotiations you’ll likely take part in. |
Are you looking forward to your next career move? Take a look at the services of our Joondalup Resume ‘s services today!
Frequently Asked Questions
What is the concept of salary negotiation?
It is the act of negotiating and deciding on the compensation package for a position. Through this process you will be able to discuss not only the base salary, but also other benefits like health insurance, retirement plans, and more.
Why is it important to bargain on salary?
Negotiating your salary can give you a more secure financial future as well as show that you know your worth. It will also allow you to keep money off the table.
How soon should I negotiate for a raise?
It is ideal to begin negotiations immediately after receiving an offer so everyone is conscious of what’s being discussed. In this way, negotiations will focus on securing perfect terms while avoiding unexpected unintentional surprises.
What happens if I am completely satisfied with the deal I received without negotiating?
If you receive an offer and you are satisfied with the offer, then there’s no need to negotiate. It’s nevertheless important to have transparent communication about what the employers are willing to offer in the form of the performance-based bonus or career-training reimbursements.
What is the best way to negotiate my salary? I change careers entirely?
The negotiation of salary for changing career paths could require additional preparation because your past experiences may not be directly applicable or be a part of the new job. Learn about the salaries similar to those in similar industries pay, to develop a thorough knowledge of the realistic expectations you can set for yourself, in light of the specific circumstances.
Are you ready for your next career change? Check our Joondalup Resume ‘s services today!
