5 things you should NEVER do in a negotiation


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5 things you should NEVER do in a negotiation

  1. 1. “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 loa 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
  2. 2. 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
  3. 3. Get the full book at Amazon.com 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.