What are effective salary negotiation strategies for career transitions?

In preparing for salary negotiation, after doing essential market research, I have found it helpful to list the proposed duties of a job role, enumerate (in your opinion) the efficiencies and financial savings you can bring to the role. Your opinion of these benefits should directly tie back to your success in achieving similar efficiencies and financial benefits from previous roles. In short, show that since you've done it once, your confident you can achieve the same or better in the new role. If you are in a very technical or a professional role that requires specific degrees or certifications, emphasise these as validation for your salary ask. Having specific Law training, such as Contracts, tends to emphasise your worth as well.

In the situation where a fixed budget may not allow for your salary ask, I tend to negotiate along the lines of flexible benefits such as hybrid or remote working, stock shares increase (if offered), additional compensation for transportation use, relocation costs, etc. Many of these features are built into an employer's discretion and do not mean extensive outlay of monies for them as salary does on a year by year basis.

An Organization or a Boss loves when one staff can contribute to two or three roles unless it is super technical. Try to find avenues outside your core role say, if you can contribute to marketing or regional or industry specific insights through your unique experiences. Many a times, your obvious experiences may be great insights for the company.

Additionally, mentors, coaches, and peers often have extensive professional networks. You can access industry insiders, recruiters, or potential employers by connecting with them. This networking can open doors to new opportunities and provide you with additional leverage during salary negotiations. In addition to practical support, having someone who offers emotional support and helps build your confidence can be invaluable during the negotiation process. Negotiating can be challenging and potentially stressful, but having someone in your corner who believes in you and provides encouragement can boost your performance.

While it is essential to have a negotiation strategy, I'd like to suggest that we also consider our mental state. We make transits in our career for various reasons; some comes with baggage. We could be at the top of our game but if during transition our mind feels otherwise, it is unlikely that we would be at 100%. Some would call this self doubt. Thus alongside the strategy, it is crucial that we know and are regularly reminded that we are worth it. Having a realistic confident mindset plays a big part. This would help us to be objective with what we can actually do and confidently negotiate for.