“A unique voice on money,
i w r d an
do
i l l ail d i
wn
fo ds,
one singularly attuned to…his generation.”
t e y t nt
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a c ac er
I WIll
h y tic act
Vis u t o l tip e sp
—San FranciSco chronicle
o a iv
it b e r s, b re
i c on ads
h . us h
co
m
ee
ts
TEAch
You
by
RAmIT SEThI
founder and writer of
iwillteachyoutoberich.com
ToBE No Guilt.
No Excuses.
No B.S.
Just a
6-Week
Program
That Works

A RICH LIFE
Five things you should Never
do in a negotiation
1. doN’t tell them your curreNt salary. Why do they need
to know? I’ll tell you: So they can offer you just a little bit more than
what you’re currently making. If you’re asked, say, “I’m sure we can find
a number that’s fair for both of us.” If they press you, push back: “I’m
not comfortable revealing my salary, so let’s move on. What else can I
answer for you?” (Note: Typically first-line recruiters will ask for these.
If they won’t budge, ask to speak to the hiring manager. No recruiter
wants to be responsible for losing a great candidate, so this will usually
get you through the gatekeeper. Also, some government jobs require
you to reveal your salary. But if a place insists that you reveal your prior
salary, it’s a pretty good sign that it’s not a great job.)
2. doN’t make the first offer. That’s their job. If they ask you
to suggest a number, smile and say, “Now come on, that’s your job.
What’s a fair number that we can both work from?”
3. if you’ve got aNother offer from a compaNy that’s
geNerally regarded to be mediocre, doN’t reveal the
compaNy’s Name. When asked for the name, just say something
general but true, like, “It’s another tech company that focuses on
online consumer applications.” If you say the name of the mediocre
company, the negotiator is going to know that he’s got you. He’ll tear
down the other company (which I would do, too), and it will all be
true. He won’t focus on negotiating, he’ll just tell you how much better
it will be at his company. So withhold this information.
4. doN’t ask “yes” or “No” questioNs. Instead of “You offered
me fifty thousand dollars. Can you do fifty-five thousand?” say, “Fifty
thousand dollars is a great number to work from. We’re in the same
ballpark, but how can we get to fifty-five thousand?”
5. Never lie. Don’t say you have another offer when you don’t.
Don’t inflate your current salary. Don’t promise things you can’t
deliver. You should always be truthful in negotiations.
239

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About the book
At last, for a generation that's materially ambitious
yet financially clueless comes I Will Teach You To
Be Rich, Ramit Sethi's 6-week personal finance
program for 20-to-35-year-olds. A completely
practical approach based around the four pillars of
personal finance—banking, saving, budgeting, and
investing—and the wealth-building ideas of
personal entrepreneurship.