Salary Negotiation

Salary Negotiation - Salary Negotiation The salary...

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Unformatted text preview: Salary Negotiation The salary negotiation is based on students’ real life experiences negotiating salary with prospective employers Chris, a graduating MBA student, is about to be offered a product management position with a multimedia software developer and wants to negotiate: • Salary, and other terms of employment with her potential future boss • Prepare: 10 min. • Negotiate: 30 min. Debriefing • • • • • • Who made a “no hire” decision? Why? Salary? Bonus? Location? Moving expenses? Start date? How did the strength of your BATNA influence your negotiation style? How were you able to create value in this negotiation? Did your expectations influence your negotiation preparation? If yes, how so? What strategies used by the other party did you find particularly effective? Ineffective? Observations • • • • • • As long as you’re reasonable and do it with a smile, you can ask for just about anything It is best to wait until you receive an offer to negotiate salary. This is when you have the greatest leverage. When you’re asked “What salary are you looking for?”, use dodge and deflect statement (range, average, etc.) Ask for written agreement that spells out details of your position, compensation, and any benefits Remember, the treatment you receive from a prospective employer during the negotiation provides a strong indicator of how well you will be treated on the job Be clear and objective about your worth and what you Lessons Do your homework: know what you want and how it compares • • objective criteria is very powerful persuasion Research pay levels for similar positions at similar companies (career center, friends, internet, public documents) Know your priorities: be ready to logroll • • • Profit sharing, relocation allowance, cell phone, laptop, etc. Put everything into one package; state needs up front Companies more likely to grant items that don’t skew their pay structures or create fairness issues with other employees ...
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This note was uploaded on 11/21/2011 for the course BUS 432 taught by Professor Earlhill during the Fall '11 term at Emory.

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