Negotiating can not begin until there is a job offer on the table. Your chances of negotiating a desired outcome are greater if you gather the right information during the interview. If you don't know about the vacation policy, benefits, and other fringe then you don't know the value of the total compensation package the company if offering. Do not disclose any of the following during your interview:
"I want to make at least $X."
"I need to make at least $X."
"I made $X in my last job, so I am hoping for more."
"I retired from XYZ company after a successful career with them."
"I really don't need to know about your health insurance, I am on my spouse's policy."
"I hope to go back to school soon. What is your tuition reimbursement policy?"
"My spouse lost his job and is a stay at home dad."
This is none of their business. And, by the way, how dare they ask about any of these things...does the employer want to know, ABSOLUTELY. They will use this information against you. The employer's motivation is to get the best deal at the lowest cost...almost 100% of the time. Watch out.
Approach the negotiating table with a win-win mentality. You may have to make a concession in order to win some of the other items on your list of negotiables. Letting the employer feel they've had a win will make them feel more powerful and shos them that you are really interested in making this work. However, negotiating should not be an emotional event, it is a business transaction. Keeping your emotions in check will hopefully allow you to see the situation more clearly.
Identify your "go, no go" point for each negotiable. In other words, if they can't reach your minimum PTO/vacation time requirement and the policy is truly inflexible, be willing to walk away from the table.
One person I know settled on a job making less money than he felt he should be making. Make no mistake, he is miserable in his job. He is open about the fact that he is underpaid. That has now led to his feeling undervalued. When you feel undervalued, you become undervalued or disengaged. It is a vicious cycle. Don't enter into it. Be ready to walk if they don't meet your minimum.
It is just as easy to get more than you hoped. All you have to do is ask. However, and this is a huge however, you have to understand your value in the marketplace. What is the salary range of others in that company, what is the industry range? Your desired number must fall inside these parameters. The other important factor to your value is the age-old principle of "supply and demand". It doesn't matter how much experience you have, how many certifications, what degree, if everyone else in the market has the same qualifications, it will drive down the amount the companies are offering. This supply and demand phenomenon can be regional or international. Stay ahead of the curve, know what skills are cutting edge and keep your saw sharp!
There is a classic book, "Getting to Yes", on the art of negotiating, not a job offer, but anything. Good read.
Hi!
Two things..."3D Negotiation" is a fantastic book. Personally, I think it is better than GTY. It is on the Personal MBA reading list. SUPERB read.
Second...negotiation is critical when you are feeling all warm and fuzzy in your current gig. You deserve to be paid what you are worth. Hannah can tell us how to determine our value based on the current market.
I VIVIDLY remember a young woman coming into my office to ask me for a raise. She had her budget in her hand. Friends, this is just NOT the way to go. She was a borderline employee...a slacker if you will. Asking me for a raise because she had a $200 monthly phone bill. I suggested letter writing and higher performance before coming back to me. :)
Posted by: Mike Lally | November 08, 2008 at 05:21 PM