Not Just About Money - Deepstash

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How not to bomb your offer negotiation

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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SIMILAR ARTICLES & IDEAS:

BATNA

Refers to your “best alternative to a negotiated agreement,” or the best outcome you can expect if you fail to reach agreement at the bargaining table with your counterpart. 

An e...

Negotiate the process

Carefully negotiate how you will negotiate in advance. Discussing procedural issues will clear the way for much more focused talks.

Don’t assume you’re all on the same page when it comes to determining when to meet, who should be present, what your agenda will be, and so on. 

Building rapport

You and your counterpart may be more collaborative and likely to reach an agreement if you spend even just a few minutes trying to get to know each other.

 If you’re negotiating over email, even a brief introductory phone call may make a difference. This is one of the most valuable negotiation skills to master.

Shift your mindset about the job offer
Shift your mindset about the job offer

Think about the offer in terms of your development, quality of life, and the variety of the work you want to do. Think about the trade-offs you are going to make.

W...

Commitment and enthusiasm

The purpose of the interview is to get the offer. The next stage is about considering the offer, then negotiating with your new employer.

Employers need to feel that you are committed. Continue to be enthusiastic in your dealings with your prospective manager so you don't sound uncertain that you want the job.

Metrics for assessing a job offer

Think about what is important in your professional and private life, then assess the offer against these metrics.

  • Salary. Even when the money is enough, you need to figure out if it's worthy of your knowledge and skills and in line with the local market.
  • Job content. Consider whether you will derive job satisfaction from the offer. To answer this question, you need to know the kinds of activities you want to be involved in and the skills you want to use. You will need a deep understanding of what's expected of you to decide whether you do indeed want the job.
  • Cultural fit. Ask yourself if it is a place where you will be happy, challenged, and where you will thrive. It might make sense to do a trial run to see what your colleagues are like.
  • Flexibility, vacation, and other perks. Flexible hours and vacation time are an increasingly valuable perk. During the evaluation stage, it's important to find out whether current employees are afforded such benefits.
  • Other options. Also assess your walk-away alternatives. Think about the offer in terms of the cost and benefit of starting the job search process over again, of staying in your current job, or of first seeing what other offers materialize.
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.