What you say next could impact your pay rate for years. So be careful!

#Interview Tip: Never give a number! Instead, be a detective. Your goal should be to discover the budget range available for the position. You could say:

I'd like to learn more about the role and expectations before discussing compensation, will you please confirm the pay range so we're on the same page."

What do you say when you get this unpleasant question? #watercooler #negotiation

Negotiating is a task we all repeatedly engage in both in our professional lives and personal. Kind of like sales, no matter what you do or who you are there is some element of your skill at this that will impact your success.
Therefore, it’s good to read about various strategies and tactics. This article among them... https://www.cnbc.com/2017/06/12/harvard-negotiation-expert-shares-the-most-common-mistake-people-make.html

Negotiate For Extra Benefits

Before we accept a job offer, we all know the importance of negotiating salary. But a new hire package comes with many other benefits that are up for negotiations as well. These benefits may include paid time off, parental leave, commuter benefits, professional development opportunities, tuition reimbursement, and many more. There are so many things you can consider when assessing an offer, and understanding the full range of options available to you can be particularly helpful, both when you’re accepting a new position and when you’re trying to find wiggle room within your current one (especially if your boss isn’t able to give you that raise you asked for).

Benefits You Can Negotiate

1. Amount Of Paid Time Off Make sure to ask for work-life balance perks you care about, like paid time off. Many companies will offer a limited amount of paid vacation time. But if you’re coming from a company where you had more, you can negotiate for them to match that number. Some places will be willing to match that number in order to make sure they don’t lose a potential new hire.

2. Your Hours Having a flexible work schedule can be invaluable, depending on your situation. If you want to negotiate for one, you can always say that you plan to be in the office full-time for the first few months to familiarize yourself with the space, build relationships, and learn the business inside and out. Then, you can mention that you’re at your most productive when you work slightly different hours, maybe you have kids who you want to take to school every morning, or maybe you just like waking up early or staying up late. Demonstrate to them that you’re committed to the job (hence spending the first few months in the office), and that you feel you can add more value to the company if you’re allowed a more flexible schedule.

3. Work From Home Working from home is becoming increasingly popular, and it’s a completely reasonable ask for most jobs. Just be sure to negotiate for it appropriately. Don’t just drop in out of nowhere and ask your boss if you can work from home every Wednesday; make the ask after you’ve finished a great project, or frame it in a way that benefits the company. One example: "Every week, I end up with a lot of paperwork that I can’t get done due to office distractions. I know I could get more done if I was able to work from home every Wednesday."

4. Repaying Students Loans Many college graduates leave school with student debt to pay off, and many companies can afford to offer student loan repayment programs to their employees. Most of these programs offer $100 per month; while that might not seem like a lot, it can certainly add up over time.

5. Money For Grad School If tuition reimbursement for graduate or other programs is important to you, ask about it, and tell the employer why it matters to you. Remember: The worst they can do is say no. But if you don’t ask for it, you’ll never know what the answer is. Plus, if you’ve researched the company to familiarize yourself with their values and understand what benefits they offer, you should be able to make a strong case for yourself.

6. Professional Development Opportunities If you’re interested in professional development, it can be worth asking if your company would be willing to offer a stipend or reimbursement for training, certification, membership dues, or industry conferences.

7. Parental Leave Many employees struggle when they see the blanket benefits package a company offers, because it’s not customized to their lifestyle. If you expect to have children soon (or even if you just think they’re on the way eventually) it’s worth asking about paid maternity and paternity leave policies. Find out what they currently offer, and see if you can negotiate for the policy that works best for you.

8. Child Care Costs Parental benefits—like child care reimbursement, have gained popularity in recent years. If this is a must-have for you, bring it up. It’s worth negotiating for benefits if having them will make you happier and better able to achieve work-life balance in the long run.

9. Health And Wellness Benefits If you care a lot about health and wellness, you can always try negotiating for relevant benefits, like gym pass reimbursement, work showers, or the option to use a standing desk.

10. Work Phone or Laptop Depending on where you work, you might need technology to get the job done. Will the company provide you with a laptop? A cell phone? Any other relevant device?

11. Moving Costs (if you’re relocating) If you’re taking a new job that’s far away from where you currently live, ask about relocation assistance. Some employers offer this automatically and have set allowances built into their budgets, but others might not—you might need to negotiate to get it on the table.

12. Commuting Costs If you’ll have a long commute, there are plenty of benefits you should consider asking for. For instance, you could request that they provide you with an automobile to use. If they won’t do that, maybe they could add your car to the company insurance policy, cover a certain portion of your automobile expenses, or share the cost of a leased vehicle.

13. Severance Package Guidelines One perk to consider is asking for is a severance package written into your contract. This package would activate should the company be acquired or should you be laid off due to no fault of your own, and it can help you ensure that you’re prepared in case things go awry.

14. Better Title Sometimes, non-monetary benefits can translate into greater value than a simple raise can. For example, negotiating for a more senior-level title or office is an obvious way to create non-monetary value for yourself. Plus, your ability to innovate and create bilateral benefits might impress the prospective employer, as well.

15. Signing Bonus One form of monetary negotiation that people often forget: bonuses. These can and should be negotiated (even annually, during your performance review). You can negotiate for a sign-on bonus or relocation bonus when you first accept an offer, and you can also negotiate for other kinds of bonuses, ones you earn if you excel at your job.

16. Stock Options/Other Long-Term Incentives You can always ask about stock options or other long-term incentives if you’re at the management level. Many companies reserve some of these benefits for certain levels, but it never hurts to ask if it hasn’t come up.

Final Thoughts

It’s crucial to take the time to understand the scope of benefits and then to tackle negotiating them wisely and strategically. When you’ve received an offer, you have the upper hand, and while you may not get all the requests you make, this is the one time that your prospective employer is ripe for negotiating. Plus, you may find that while there’s no leeway for negotiating a higher salary, benefits adjustments are easier to accommodate.

i have been working at my recent job for over 15 + years and i honestly thought i would always be there. but it recently, about 3 years ago, got once again bought and well corporate world moved in. now i was recently demoted and my hourly cut by more than $6.00. not because of my work ethics which have not changed, nor have i never gotten written up and always work beyond the bosses expectation , i was demoted just because i do not have the college degree however i have more than 15 + years in this company and over 25+ years in total in accounting field. Now i am finding myself having to truly look for work elsewhere and i am so scared of the unknown. my recent employer continues to give me fault hope saying they are trying their hardest to try to meet me half between what i used to make and what i am making now and that everything is a process. but its been 2 months, and how quickly they were to changed my status and $$$ but how uneasy they find to change it back. i would love some feedback. thank you all.

Just have a question I thought some of you might be able to help with. Long story short, I recently was informed that a new hire who is only 16, evidently makes more than I do. Since I'm older and have more experience I thought I would make at least more than her. And that was to start. So I guess my question is, should I wait before I bring it up or not even bring it up at all? Don't want to sound like I'm complaining because I'm not. Would just like to know what I can do to at least match hers. Not sure why they would do that when the owner said herself I'm one of her best employees, I've trained two people for Pete's sake, but doesn't pay me like it. Any suggestions would be appreciated.

I had two great interviews. Invited back to meet the team and informed I would be offered a position. Recruiter contacted me and we appeared to come to an agreement as to compensation. Two days later, I'm told they want to look at other candidates. Some say, they likely couldn't afford your salary but I would expect a counter offer if that was the case. Thoughts?

I had interviewed for a position where it started with the HR manager over the phone, then the technical manager I would report to, then director on the phone, followed by an in person interview with the technical director and senior technician.

Everything seemed to go very very well, I didn’t hear from them for a while then they told me they decided to go with another candidate. I was a little crushed but chalked it up. A month and a half later, the HR manager reached out to me saying they have good news. Apparently their first choice had medical issues and wasn’t able to sustain the job, so they turned to me, their second choice. They made me an offer and I negotiated, we came up with a number we both agree on. I filled out the forms they needed me to, My start date is Monday, September 9.

I do have good vibes about the company, they got very good reviews on glassdoor but I can’t help to feel a bit guarded about the fact that I was there a second choice but more so what happened to the first guy? I guess there’s no real way for me to tell what truly happened, if it wasn’t a medical issue.

Should I be concerned?

As stated in a previous post during my job search ironically I had landed interviews with the top two highest paying jobs on the same day which in turn left me with quite a decision to make knowing one certainly wasn’t going to wait for the other. I ended up going with the higher paying of the two and I’ll tell you now I’ve jumped through so many hoops during this application process I may as well had turned into a basketball. Despite all that just this afternoon I got confrontation that HR is going to finalize everything necessary. In total it’s been about a month’s ordeal just getting to this point. It’s pretty much a life changing job seeing as it’s nearly a $6 raise for me! Now to put it out there I’m definitely not the type to be full of myself or be some pompous jerk thinking I’m better than anyone now. No not at all. It is a huge burden lifted but this did not just land in my lap. In fact I’ve applied to this company 6 times before fate had me run into an old friend who thankfully put in a recommendation which allowed me to go in and finally prove to them I am worth the investment regardless of lack of experience in the field. In my opinion it’s all about persistence and how you present yourself. And this time I can brag just a little and say I did pretty dam good. Super grateful!

The Art Of Salary Negotiations

Perhaps one of the most feared part of the job seeking process is what happens after the job offer is made. It is also a necessary step when gunning for a promotion at our current job. It is negotiating the salary.

Salary negotiation can be scary. But what’s even scarier is not doing it. A study revealed that of those people who negotiated, they were able to increase their salary by over 7%. That may not sound like much, but if you get 7% less than your co-worker, assuming you’re treated identically from then on, with the same raises and promotions, you’d have to work eight years longer to be as wealthy as them at retirement.

So, it’s time to learn how to negotiate. The tips described in this article will get you totally prepped.

GETTING PREPPED

1. Know Your Value If you’re going to get the pay you deserve, it’s crucial to know the going rate for your position in your specific industry and in your geographic area by doing an online search on sites such as Payscale or Glassdoor, or by asking others in your field. If you walk into a salary negotiation without a number, you’re at the mercy of an experienced hiring manager.

2. Pick The Top Of The Range With a range that represents your market value, ask for something toward the top. First, you should assume you’re entitled to top pay. Second, your employer will almost certainly negotiate down, so you need wiggle room to still end up with a salary you’re pleased with.

3. Know The (Exact) Number According to researchers at Columbia Business School, you should ask for a very specific number say, $44,750 rather than $45,000. Turns out, when employees use a more precise number, they are more likely to get a final offer closer to what they were hoping for because the employer will assume you’ve done extensive research to reach that specific number.

4. Be Willing To Walk Away When considering your numbers, you should also come up with a “walk away point,” a final offer that’s so low that you have to turn it down. This could be based on financial need, market value, or simply what you need to feel good about the salary you’re bringing home. Walking away from an offer will not be easy, but it’s important to know when to do it, and powerful to be able to say “no.”

5. Make Sure You’re Ready Before you ask for a raise, ask yourself a few questions. Have you been at your job for a year? Have you taken on new responsibilities since you’ve been hired? Have you been exceeding expectations rather than just meeting them? The answer to all of these should be “yes.”

6. Plan The Right Timing Timing is everything. Don't wait until performance review season to ask for a salary adjustment. By that time, your boss has probably already decided what raises will be doled out to the team. Start talking to your boss about getting a raise three to four months in advance. That’s when they decide the budget.

7. Prepare A One-Sheet Prepare a “brag sheet." It’s a one-page summary that shows exactly how awesome you are. List any awards, accomplishments, customer/co-worker testimonials you’ve received since your last review. You want to demonstrate your value to your boss.

8. Remember Practice Makes Perfect Rehearse, rehearse, rehearse. Write down what you want to say, and practice to a mirror, on video, or with a friend until you’re super comfortable having the conversation.

9. Set The Meeting For Thursday Studies show that you’re more likely to get a raise if you ask on Thursday. We tend to start off the week more hard-nosed and even disagreeable, but become more flexible and accommodating as the week wears on. Thursdays and Fridays find us most open to negotiation and compromise because we want to finish our work before the week is out.

STARTING THE CONVERSATION

10. Power Up Before you go into the negotiation, try doing a power pose. Perhaps in the bathroom, standing tall with hands on your hips, chin and chest raised proud, and your feet firm on the ground. Doing so raises testosterone, which influences confidence/reduces stress hormone cortisol.

11. Walk With Confidence The way you enter a room can dictate how the rest of an interaction will be. Keep your head high and smile. Starting off with a positive vibe is very important.

12. Start With Questions Start the negotiation conversation by asking diagnostic questions to understand more about the other party’s true needs, desires, fears, preferences, and priorities, then offer up solutions that will help.

13. Show What You Can Do

Remember that brag sheet (bring a copy for your mamager)? Before talking numbers, talk about what you’ve accomplished and more importantly, what you can do. Summarize what you’ve achieved this year. Highlight times you’ve gone above and beyond, which will build the case that you deserve a raise. Be prepared with a few thoughts on what you’re excited to take on going forward, whether that’s freeing up your manager’s bandwidth by taking on an existing project, or proposing a new idea that you’re excited to own.

14. Think About The Other Person When preparing for negotiating, get in the mindset of thinking about the situation from your opponent’s perspective. When we consider the other person’s thoughts and interests, we are more likely to find solutions that work well for both of us.

15. Stay Positive, Not Pushy You should always keep the conversation on a positive note. Kick off with something like, ‘I really enjoy working here and find my projects very challenging. In the last year, I’ve been feeling that the scope of my work has expanded quite a bit. I believe my roles, responsibilities, and my contributions have risen. I’d like to discuss with you the possibilities of reviewing my compensation.’

MAKING THE ASK

16. Put Your Number Out First The anchor, or the first number put on the table is the most important in negotiation, since it’s what the rest of the conversation is based off of. If it’s too low, you’ll end up with a lower final offer than you probably want. You should always be the first person to mention a number so that you, not your counterpart, controls the anchor.

17. Ask For More Than What You Want You should always ask for more than you actually want. Psychology shows that your bargaining partner will feel like he or she is getting a better deal if he or she negotiates down from your original ask. The worst that can happen if you give a high number is that the other party will counteroffer, but the worst that can happen if you don’t negotiate is that you’ll get nothing.

18. Don’t Use A Range Never use the word “between” when negotiating. In other words, never give a range: “I’m looking for between $50K and $55K.” That suggests you’re willing to concede, and the person you’re negotiating with will immediately jump to the smaller number.

19. Focus On Market Value Rather than discussing a raise or new salary based on what you make now, keep the conversation focused on what the market is paying for people like you (your “market value”). Re-frame any metric your negotiation partner uses, like percentage differences as market value, re-focusing the discussion on hard dollars.

20. Prioritize Your Requests Research shows that rank-ordering is a powerful way to help your counterparts understand your interests without giving away too much information. You can then ask them to share their priorities, and look for opportunities for mutually beneficial tradeoffs: both sides win on the issues that are most important to them.

21. Don’t Mention Personal Needs Don’t focus on your personal needs, like the fact that your rent’s gone up or childcare expenses have increased. You make a much better case to your boss (and his or her boss!) that you’re worth more when you focus on your performance and achievements.

22. Ask For Advice Asking, “I trust you, and I’d very much value your recommendations. What would you suggest?” By doing so, you’ve flattered your negotiating partner, encouraging him to take your perspective (hopefully), persuading him to advocate for you and your request.

23. Don’t Forget To Listen Listening to the other party during a negotiation is almost as important as your ask and argument. By really paying attention to what the other person is saying, you can understand his or her needs and incorporate them into finding a solution that makes you both happy.

GETTING AN ANSWER

24. Use Stalling To Your Advantage When you hear the other person’s first offer, don’t say ‘OK.' Say ‘Hmmm,’ Give yourself some time, and in the seconds of silence, the other person is more likely to improve in some way.

25. Ask Questions Does the person you’re negotiating with flinch or otherwise react negatively to the number you put on the table? Don’t let that deter you; instead, ask open-ended questions to keep the conversation moving and show you’re willing to work together.

26. But Don’t Make Threats Again, you ideally want to work (or keep working) with this person, so it’s important to keep the conversation positive. Whatever you do, don’t threaten to leave if you don’t get the raise.

27. Consider Other Options If your boss (or the hiring manager) really, really won’t budge? Try negotiating for flex time, more vacation time, a better title, or plum projects and assignments.

28. Keep Negotiating Negotiation is a complicated process with volumes of books on techniques, tactics, and scripts. The good news? The more you do it, the easier it becomes. Even better, the more money you’ll bring home! So, get out there and start negotiating. You’ve now got the skills to do it right.

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