Prepare a planning document and develop a scoring system o Carefully think

Prepare a planning document and develop a scoring

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Prepare a planning document and develop a scoring system o Carefully think about your priorities (Financial, security, location, independence, mental stimulation, personal growth, low stress) o Identify the least acceptable deal to cover your interests! o Identify missing issues o Identify issues that are compatible o Identify trade-off possibilities o Review your sources of power to build confidence o Remind yourself of the reasons you deserve your target offer! Be creative in considering all the forms of compensation that you could get (remember that some of these forms may be of high value to you but low cost to them!) o Base Salary o Signing Bonus & Annual bonus (individual and group) o Relocation expenses o Retirement Options: stock options, employer matching, pension o Tuition reimbursement o Technology/equipment o Housing assistance: Low interest loans, forgivable loans, etc. o Paid Leave: vacation, sick days, training/conferences, holidays o Insurance: health, disability, life o Care Plans: child, elderly, parental leave Don’t forget non-compensation factors that you can negotiate (put these in your scoring system!) o Job characteristics (type of work, position, group you will join, location, promotion schedule, travel, hours) Know about the company (Prep) o What are their interests o What is its current strategy, expansion, merger, etc. and what does that strategy imply for managers’ careers o Use the Web, the library, Fordham career resources Know about the company’s current labor market situation (Prep) o How many are they planning to hire o What has their yield been in prior years o What is the strength of their internal labor market for management jobs o How tight is the managerial labor market in their industry o What is their reservation price What to do when… o Your BATNA is poor? § Invest time in generating other alternatives
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§ Use objective standards in lieu of a BATNA What other graduates of your school are being offered What other companies in the industry are offering What other companies in the region are offering o Employer says something is not negotiable? § Never ask “Is this issue negotiable?” Instead, say, “I have some questions about the moving allowance, can we talk about this?” § If they insist something is non-negotiable, find out why § Ask if something can be traded for the non-negotiable item o Employer says he/she doesn’t have the authority to give something? § Ask who does, can this person help you get to the person with authority § “I’d love the opportunity to meet with the person I’ll be working with.” o Employer says they can’t give you the wage package you want now? § Negotiate a review in 6 months instead of a year § Negotiate a bonus contingent on your performance § Propose to trade for another issue Signing bonus, moving expenses, location, etc.
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  • Fall '11
  • JohnHurley

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