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How not to bomb your offer negotiation

https://www.freecodecamp.org/news/how-not-to-bomb-your-offer-negotiation-c46bb9bc7dea/

freecodecamp.org

How not to bomb your offer negotiation
by Haseeb Qureshi How not to bomb your offer negotiation Holy backfire [https://en.wikipedia.org/wiki/List_of_exclamations_by_Robin], Batman! This could be you if you don't read this article. No pressure.So you've maneuvered through the initial offer conversation. You've lined up counteroffers from other companies. Now it's time to enter the actual negotiation.

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Your Final Decision

While making your final decision, keep in mind that:

  • You are clear about your deadline for signing the job offer.
  • Assert your deadline continually.
  • Use your final decision as a Trump Card. 
Pre-committing a signing date gives space to the final negotiation process, providing weight to your words, and can help us ward off pressure to sign early to end the negotiations.

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Companies Love Negotiating

Companies like you to submit early in the negotiation and be done with it, so it's best not to fall in their traps and pressure tactics.

Respectfully moving forward, showing transparency and maturity signals to the company that you are not just playing games, and are moving towards a final decision. Being honest, open and communicative is the key.

Negotiating is all about relationship, with communication being the bedrock.

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Not Just About Money

  • There are various dimensions in a job to be motivated by, not just what you get paid. Your training period, kind of work, kind of team, and the other things you value, like work-life balance, for instance.
  • You also need to understand what the company values. Salary is a recurring cost, that increases over time while being a subject of gossip due to inequality. A joining bonus is a one-time expense and isn't public.
  • There are other perks to negotiate for, like relocation bonus, which can be easier to arrange.

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Ask For More: Asserting Your Value

Simply asking for more may be a put off for recruiters, but providing an unobjectionable and sympathetic reason is a good strategy.
Example: I want to buy my own house within the next year, what can we do to improve the salary?

Asserting Your Value: Assert yourself by being confident, without boasting, or providing some specific metric that may be proven wrong. It helps to anchor the statement earlier and gently repeat it so that it is within the already established negotiation points and not something out of the blue.

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Giving the First Figure

A prospective employee can refrain at first and talk about being a good mutual fit and being able to learn, rather than mere figures.

If pushed towards a number, you can quote the average industry salary in your domain, as a starting point. You can also mention your current (or past) salary as an anchor point, starting the negotiation.

  • Once an offer is out there, Be polite and mention your best alternative offer, while expressing your desire to work with them. 
  • Do consider your other offer, any leverage you may have and your earlier calculations. 
  • Provide a valid reason in case you want to ask for a better salary.

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Ok To Negotiate

Recruiters spend thousands of dollars on the recruiting process, and won't reject your profile or take away anything from you if you negotiate. They have already invested time, cost, and energy that may go in vain if you are not accepting their offer.

Know that it is perfectly fine to negotiate and companies are more than willing to negotiate with you.

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Have An Alternative

Having an alternative, a second job offer with you makes your negotiation game stronger, as the employer knows that you can simply walk away. Having the offer from a prestigious company also strengthens your perceived market value.

Having a BATNA (Best Alternative To a Negotiated Agreement) provides you with confidence, based on how strong the employer perceives it as well as how you perceive it.

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A Personal Touch

A job negotiation is preferable in person or on the phone, as compared to the impersonal and cold feel of the email.

Talking on the phone provides you with an opportunity to build a connection so that the recruiter understands you and your motivations, while you have a better grip on their motivations.

If the job negotiation is on email only, be direct and honest. Email lets you strategize your words carefully.

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A Good Negotiator

Negotiating doesn't mean arguing, being stubborn or creating a scene. The best negotiators are empathetic and collaborative, pursuing a mutually fulfilling solution. A good negotiator can bend the rules, question assumptions, looking for creative ways to widen the terrain of negotiation.

A job negotiation has many dimensions like salary, work-life balance, bonuses and many perks that make or break the deal.

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SIMILAR ARTICLES & IDEAS:

Get clear on your negotiation goals

There are 3 key questions you should ask yourself:

  • What's the best possible outcome
  • What's your bottom line? This refers to the least...

Determine your core negotiation strategy (CNS)

It means finding the doorway that you want to enter the negotiation through. That could be the doorway of safety and liability or of value, the doorway of competition or of future business.

Understand your negotiation signature

That signature is the habitual way that you go about a negotiation. Understanding your default signature helps you know what you're working with.

Some people try to go in and beat the other person up on price. Other people are really intimidated, reticent, and afraid to ask for anything. 

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Successful Negotiation

The most successful negotiators don't entertain dirty tricks in negotiation but instead strive to reach agreements that are satisfactory to both parties.

But if you find yourself on...

Jet Lag

Used on negotiators who travel long distances: to start meetings while the negotiator's concentration is impeded due to jet lag or fatigue. Jet lag seriously impairs judgement. 

Tip for the negotiator: Travel early and leave time for recuperation before meeting the other party. Where you suspect your hosts like to be hospitable, keep news of your early arrival quiet. 

It's different over here

A dirty trick often used against people visiting other cultures.

The approach of "but we always do it this way over here" can be difficult to counter if you're not prepared for it.

Tip for the negotiator: If you suspect this approach in advance, have with you a local expert who knows the customs. 

Negotiation

... is a key life skill, an inherently interpersonal activity that requires a good understanding of human psyche, and it is vital to your success.

Negotiator perform 2 cognitive tasks:

  1. Judgement: Evaluate the content of the available options for its fairness.
  2. Choice: Determine which available option is preferred.

Use a Red Herring

Instead of making one single offer, try offering 3 possible scenarios:

  1.  Something that works for you but can be very expensive for the other party. A win-lose.
  2.  The red herring. Something that is a lose-lose for both parties. An option through which no one wins.
  3. Something that is a middle ground and a win-win for both.
Social psychology shows when you present  more options (the red herring), the other party will rarely decline all the options.