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@SFAGENCY

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6:30 - 7:00 NUTS + BOLTS7:00 - 7:15

INTERLUDE + QUESTIONS7:15 - 7:30

BARE ESSENTIALS

7:30 - 8:00HOT SEAT

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START WITH THE END.

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What are you really asking for?

Start with the END - what are you hoping to acheive by asking for more?

Is your RATIONALE objective? - be clear about why it’s so important to you

Does a salary increase sit within the company’s normal PROCEDURES?

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PsychologicalContractThe balancing act between:

How you are treated by an employer What you put into the job

the

+

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PsychologicalContractthe relationship between an employer and its employeesspecifically concerns mutual expectations ofinputs and outcomes

the

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Interests over positions

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Don’t Bargain over PositionsSeparate the People from the ProblemFocus on Interests, Not PositionsInvent Options for Mutual GainInsitsist on Using Objective Criteria

from Getting to YesRoger Fisher & William Ury

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Algorithms70% of all trades on Wall Street

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+ It’s happening in the Job Market too

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Negotiate or not? Only if the salary too low

Agressive negotation?Practice the golden rule

Negotiate on equity?Case by case. Avoid be insulting (ie. asking for less equity and higher base)If company is doing or likely to do very well - explore options through discussion

What are you worth?Determine an acceptable range. Market data + personal needs + [track recrord]

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"Once they've decided that they have to have you, only then are you in the position to negotiate”

-Dan MartineauPresident of Martineau Recruiting Technology

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VALUE of

as an INDIVIDUAL

vs

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Get your salary request out first ?

Have the employer tell you the salary first?

or

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vs

At the early stages of recruiting processif salary expecations come up - consider being vague and saying you’re interested in a mutually rewardingcareer with the company and are confident you can agreeto a fitting compensation package.

In instances that you believe the company may not be able to afford you, consider testing the waters

by asking them for a ballpark figure or salary range. This can save you time and help you focus your energies.

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BUT HERE”S SOME GENERAL TIPS + HINTS

Research has shown that the first number mentioned establishes the salary range in the contextof the discussion

You can often gage when the employer is seeking to have you provide a figure as they: 1) Do notprovide a salary or a range in the advertisement; 2) Are not forthcoming when you ask for the salary or range; and; 3) Push the question back on you to tell them what you are seeking

As a rule of thumb, if you ask for the top of the range (or a little bit more) it’s quite feasiblethat when they accept you will be you securing a higher end of the possible salary range

Keep in mind that an employer’s initial offer is rarely the real budget. You can assume that the range is known to the employer, and you can always site your sources if they act surprised

SO... if you are unsure of what to ask and are open to what they are offering, ask them for the salary every time. If you are confident in what figure you want and this plays a significant factorin your decision making then provide it to them, and..

CASE BY CASE

..let them know you know your worth.

[Debatable} but as a rule of thumb you want the employer to make the first salary offer

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What if pay comes up in the interview or very early on in the recruiting process?

Put it right back to the employer

Mention your current or past salary if you feel it is appropriate and explain it’s based on your education and experience,. Then ask the employer to proivde a salary range for the role in question

If you are actually wanting more money than your current or past salary then expalin that you enjoy[ed] working at your company but feel youare underpaid

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COUNTEROFFERS

• Below average market rate• Lack of benefits offset may justify a bump in base• You have a higher offer on the table• Factual reasons why you are asking for more £• Request a face-to-face [or call] to negotiate • Emphasise and express eagerness to work• Ensure your tone is not displaying a threat or finality

[always base it on the facts]

• Always counteroffer but never twice!

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1. LOGIC

2. CHARACTER

3. EMOTION

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THIS IS FUNCTIONAL YET SAFE

I AM THE HUMBLE INVENTOR

WOW, CAN YOU SEE THE POSSIBILITIES!

LOGIC

CHARACTER

EMOTION

EMPLOYER ME

YOUR TALENT + SKILLS+ PASSION

WE

TRACK RECORD

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A P T I T U D E

A T T I T U D E

P A S S I O N

O P P O R T U N I T Y

I GET IT

I LOVE IT

I WANT IT

WHERE IS IT?

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GET IT RIGHT[Don’t be a pain in the butt]

Understand an employers policies, timings, protocols, and criteria

Have quantifiable evidence of your value and contribution to the employer’s performance and profit

Be positive and constructive and try to help facilitate the process

Help your future boss or hiring manager to help you

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COMPROMISE?

In the case where an employer cannot initially take you on at the rate you needconsider getting (in writing) an agreement to a guaranteed raise in the future subject to completing a given period of service.

Ensure that it is your mere completion of this period and not ‘Satisfactory’completion as this can be ambiguious. Go on the basis of 3 or 6 months to startafter which the raise agreed would be automatic.

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Get it in writingAlways.[aka if they won’t put it in writing, somethings up]

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Timing is Everything

When is the company holding performance reviews?

Have you secured another job offer?

Are you being asked to take on more responsibility?

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Precise number makes sense during a negotiation

Malia Mason, lead researcher in a study published in The Journal of Experimental Social Psychology says that using a precise number instead of rounded numbers will give you a strong anchor

Your quantitative estimate gives the message to an employerthe magnitude of error around the estimate they could expect

USE PRECISE NUMBERS

[ie don’t ask for £40,000, as for $38,500]

[and the appearance that you've done your research]

[Even when giving a range, you should use precise numbers]

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Talk to people at competing companies or in the industry

Research into the concerns of the industry sector

LinkedIn LinkedIn LinkedIn [Groups, Influencers, Individuals, Jobs et al]

Find a professional association of people in this industry and learn

What you can do

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Emphasise your economic value [money you save and make for an employer]

Highlight your value-added qualities, that extra skill you bring

Relationships and network influence can aslo be a benefit to highlight

What else you can do

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BATNABest Alternative To a Negotiated Agreement

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AskTell

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TakeTime

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MoneyHappiness

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. .But-David Lee Roth

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P ractice

P erfect

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“YOU HAVE TO LEARN THE RULESOF THE GAME..

AND THEN YOUHAVE TO PLAYBETTER THANANYONE ELSE.”

-ALBERT EINSTEIN

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Don’t blow it at the endIt’s easy to get nervous or excited when you’re on the verge of getting what you want.

If you’re bubbling with enthusiasm and don’t knowwhat to say or do - simply ask for what you want and Be Quite.

No yapping please :)

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POWER of

“I’m going to have a think

and come back to you [by X]”

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PLAY HARD TO GET or MISHANDLE MULTIPLE OFFERS

PLAY HARDBALL

BE UNPREPARED

BE DISILLUSIONED

UNDERESTIIMATE YOUR WORTH

LIE

DON’T

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HOT SEAT!

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