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Last updated on 2024年5月31日

Here's how you can navigate common pitfalls when negotiating a salary or raise.

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Navigating salary negotiations can be daunting, but with the right approach, you can avoid common pitfalls and secure the compensation you deserve. Whether you're discussing a new job offer or seeking a raise, understanding the intricacies of negotiation is crucial. It's not just about the numbers; it's about recognizing your value, communicating effectively, and navigating the delicate balance between assertiveness and professionalism. By preparing thoroughly and adopting a strategic mindset, you can approach these conversations with confidence and clarity, setting the stage for a successful outcome that reflects your worth and contributions.

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Ricardo Chang

| Strategic Business Manager | BDM | Sales & Commercial | B2B & B2C | Disruptive Innovator | Mentor
Ursula Dr. Kaltenhaeuser

Executive Search Pharma, Life science & Healthcare l ambitious strategic positions l passionate Pharma insider

1 Know Your Worth

Before entering any negotiation, it's essential to understand your value in the market. Research the typical salary range for your position, experience level, and location. Reflect on your unique skills, accomplishments, and how they benefit your employer. This knowledge arms you with the confidence to articulate why you deserve a particular salary or raise. It also prevents you from undervaluing yourself or accepting an offer that doesn't align with your expertise.

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Ricardo Chang

| Strategic Business Manager | BDM | Sales & Commercial | B2B & B2C | Disruptive Innovator | Mentor
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Conocer su valor es fundamental para negociar un salario más alto y beneficios laborales, ya que permite a los empleados evaluar su desempe?o, conocer su rango salarial, negociar beneficios adicionales, tener confianza en la negociación y negociar un salario justo.

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Ursula Dr. Kaltenhaeuser

Executive Search Pharma, Life science & Healthcare l ambitious strategic positions l passionate Pharma insider
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You have prepared your best KPIs regarding your added value to your employer, you got positve feedbacks from collegues and feel comfortable with that. This should be the right moment for beginning negotiations with your employer. As shortage of talents your employer will do the possible to give you a good offer- not just on benefits or salaries, remote work possibilities and even to be considered life long learning and defined development steps.

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2 Timing Matters

Choosing the right moment to initiate salary discussions can significantly impact the outcome. Aim for a time when your value to the company is evident, such as after the successful completion of a significant project or during a performance review. Avoid times of economic downturn or budget cuts when the company may not be receptive to salary increases. Timing your request appropriately demonstrates your understanding of the business context and can lead to more favorable negotiations.

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Ursula Dr. Kaltenhaeuser

Executive Search Pharma, Life science & Healthcare l ambitious strategic positions l passionate Pharma insider
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Negotiations in economic crises and times of budget cuts are to avoid generally except you finished successfully a business relevant project. In that case you can`t expect a salary raise but better working conditions- may be hybrid work or learning courses which bring you to your next step after the crisis.

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3 Articulate Value

When negotiating, clearly articulate your contributions and how they translate into value for the company. Use specific examples of your work that showcase your skills and results. This isn't just about past achievements; discuss your future potential and how you plan to continue contributing to the company's success. By framing the conversation around the value you provide, you shift the focus from cost to investment, making it easier for your employer to see the benefits of offering you a higher salary or raise.

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Ursula Dr. Kaltenhaeuser

Executive Search Pharma, Life science & Healthcare l ambitious strategic positions l passionate Pharma insider
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Before you are going to negotiations make sure you are best prepared- to presenting yourself showing the value you added to the company

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4 Negotiate Holistically

Salary is just one component of your compensation package. Consider other benefits such as flexible work hours, additional vacation time, or professional development opportunities. Sometimes, these can be more valuable in the long run than a slight increase in pay. Negotiating holistically allows for creative solutions that can satisfy both you and your employer, especially if there's limited room for salary adjustment.

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Ursula Dr. Kaltenhaeuser

Executive Search Pharma, Life science & Healthcare l ambitious strategic positions l passionate Pharma insider
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In economic crises you will not be so successful asking for higher salaries- be prepared for asking on learning opportunities, remote work. Be prepared to accept a slight increase if necessary for the moment and make a plan B to bring you to the next step- in the same company or leaving the company discovering new fields with less economic decreases.

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5 Practice Diplomacy

Negotiation is a delicate process requiring diplomacy and tact. Approach the conversation with a positive attitude and express gratitude for the opportunity to discuss your compensation. Avoid ultimatums or confrontational language, as these can damage relationships and close doors. Instead, aim for a collaborative dialogue where both parties feel heard and respected. This approach can lead to more productive negotiations and a better working relationship going forward.

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Ursula Dr. Kaltenhaeuser

Executive Search Pharma, Life science & Healthcare l ambitious strategic positions l passionate Pharma insider
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Be positive and stay always in business acumen, never get emotional. Be diplomatic and have a plan B is always the best strategy in negotiations

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6 Plan B Preparedness

Always have a backup plan in case negotiations don't go as expected. Determine your minimum acceptable salary and be prepared to walk away if it's not met, but also consider alternative options that might be acceptable. Having a clear understanding of your bottom line and alternative opportunities provides a safety net and ensures you don't feel pressured to accept an unsatisfactory offer.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Here's how you can navigate common pitfalls when negotiating a salary or raise.

1

2

3

4

5

6

7

1 Know Your Worth

2 Timing Matters

3 Articulate Value

4 Negotiate Holistically

5 Practice Diplomacy

6 Plan B Preparedness

7 Here’s what else to consider

Business Management

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Here's how you can navigate common pitfalls when negotiating a salary or raise.

1

2

3

4

5

6

7

1 Know Your Worth

2 Timing Matters

3 Articulate Value

4 Negotiate Holistically

5 Practice Diplomacy

6 Plan B Preparedness

7 Here’s what else to consider

Business Management

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