4. "I tell my graduate students that by not negotiating their
job at the beginning of their career, they're leaving
anywhere between $1 million and $1.5 million on the table
in lost earnings over their lifetime."
— Linda Babcock, Carnegie Mellon University
5. If you don’t ask for money
periodically, you’re likely
to be underpaid.
6. Me
Negotiated a $16,000 raise, promotion
to department manager, and 1 month
paid vacation in San Diego.
9. • Specific problems the company was
facing
• How I added value over the past 12
months
10. • Specific problems the company was
facing
• How I added value over the past 12
months
• Solutions that would add hundreds of
thousands of dollars to the bottom line
11. • Specific problems the company was
facing
• How I added value over the past 12
months
• Solutions that would add hundreds of
thousands of dollars to the bottom line
• What other people were getting paid
12. • Specific problems the company was
facing
• How I added value over the past 12
months
• Solutions that would add hundreds of
thousands of dollars to the bottom line
• What other people were getting paid
• What I’d do if they said no
13. •
•
•
•
•
Specific problems the company was
facing
How I added value over the past 12
months
Solutions that would add hundreds of
}
thousands of dollars to the bottom line
What other people were getting paid
What I’d do if they said no
Time:
8 hours
16. • Prepare for your negotiation
• Pinpoint exactly how much you need to earn
17. • Prepare for your negotiation
• Pinpoint exactly how much you need to earn
• Deflect a common negotiation trap
18. • Prepare for your negotiation
• Pinpoint exactly how much you need to earn
• Deflect a common negotiation trap
• Use the ‘Door-in-the-Face’ technique to
bypass negotiation barriers
48. Practice
• Make a budget and identify your minimum per-hour
• Role play a negotiation with a friend
• Buy something on Craigslist and negotiate the price
Why negotiate? \n* Earn more money. \n* The more you negotiate now, the more you’ll earn over your lifetime.\n\nSnowball effect \n\nWe’re actively taught that it’s “weird” and “awkward” to negotiate. By contrast, I find it “weird” to lose $10,000 because you didn’t take 5 hours to practice your negotiating pitch beforehand. By simply starting a negotiation, you stand out from 80% of other applicants who make a decision not to negotiate. \n\n\n
Snowball effect.\n
\n
\n
How did I negotiate that? \n\nBy identifying how I could help the company. \n
How did I negotiate that? \n\nBy identifying how I could help the company. \n
How did I negotiate that? \n\nBy identifying how I could help the company. \n
How did I negotiate that? \n\nBy identifying how I could help the company. \n
How did I negotiate that? \n\nBy identifying how I could help the company. \n
How did I negotiate that? \n\nBy identifying how I could help the company. \n
How did I negotiate that? \n\nBy identifying how I could help the company. \n
These are strategies and tactics that have worked for me. I want you to leave the room with the seed of this planted in your mind. \n
These are strategies and tactics that have worked for me. I want you to leave the room with the seed of this planted in your mind. \n
These are strategies and tactics that have worked for me. I want you to leave the room with the seed of this planted in your mind. \n
These are strategies and tactics that have worked for me. I want you to leave the room with the seed of this planted in your mind. \n
\n
\n
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\nSit down and figure it out. Come up with your budget, and if you want to find out how much your time is worth, simply divide your budget by the number of hours you want to work. That’s your starting/break-even point. From then, simply figure out how much more you want to make to decide your profit-level.\n
Research and inform yourself of what the market bears. Use fact to guide your negotiations.\n
\n
\nNegotiation is a discussion of facts. Any counter-offer needs to be constructed with the impression that it’s based on data. “I want a 10% raise because, based on my research, that represents the average salary for this gig elsewhere in the industry.”\n\n
Story: \nPalo Alto Software. I broke down the job line by line, writing a paragraph for each line on how I’ve used this problem and how I can use this skill for them. \n\n
\n
\nWhen we hired a Marketing Manager at IRIS Media, he showed up to the meeting with 3 pages of notes on strategies and tactics we could start using, an exploration of our competitors, and a potential partner we hadn’t noticed. \n
Sell them on your passion for the position.\nCompanies want to hire passionate people. \n
\n\n
By placing a hard salary number out in the open or, even worse, providing a range, you’ve set an expectation too early in a process.\nGiving a range to a potential employer - you’ll be thinking that they can offer the high end of the range and they’ll certainly only hear the low end. \n
First, he said, when filling out any kind of job application form that asks for your current or old salary information, write “NA.” Then, when you’re talking with the recruiter and he or she asks you the same question, respond with, “I’m sure we’ll find a number that works for both of us, but for now, I want to make sure it’s a good fit.” You could also say, “I’m really not comfortable with revealing that information but I am interested in discussing some of the other ways I can help the company,” Mr. Sethi said.\n\n
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* Focus on Qualifications and the role\n\n* Stress that you hope that if you’re the right candidate for this opportunity, you’ll be fairly compensated for your work. \n
* Focus the conversation on your skills, experience, and interest.\n* You’ll come off concerned about how the job can help your career and not your wallet. \n* Enthusiasm should be derived from opportunity, not the pay check. \n
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Large request, easily turned down (Door in your face)\n Follow up with a much smaller request (looks very reasonable)\n\n