Negotiation is not just an art. It's a technique which anyone can master. Salary negotiation is mostly gut based but whether you have got the best deal or not is questionable. Through this post I am sharing a strategy you can employ to get a better deal in the salary negotiation process.
Different people set different expectations from a new job. e.g. some people are ready to sacrifice their pay for less travel or the location or profile of their choice. Based on your expectations you are expected to negotiate. People forget these things while negotiating for salary. Best deal can be obtained from the negotiation if you write down the following on a plain paper
- what your employer expects from you
- what is irrelevant for the employer
- what is your minimum expectation
- what is not very important for you
The trick of negotiation is to find out what is the most important thing for employer that you are ready to sacrifice. So the employer might want you to stay at the headquarters and you may be alright with it. You should use it to your advantage and communicate to him indirectly that you are making a big sacrifice on this front and then may be you can ask for better salary.
Overall, you can apply the following techniques:
1. Anchoring and
framing of salaries: Anchor to a higher salary and salary given by competitors.
2. Asking questions: To understand employer's reservation about location, business division and other
components of job. Some of the questions you may ask:
- What kind of projects are they taking lately?
- What kind of MBA profiles are currently associated with the company and at what location?
- How fast have they moved in the hierarchy of the organization?
- What kind of benefits are a part of HR policy and are offered to all the employees?
#
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MESO
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#
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MESO
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#
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MESO
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Salary+ Bonus
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Average
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Salary+ Bonus
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-10%
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Salary+ Bonus
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10% above
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Business Division
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Govt Adv
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Business Division
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M&A
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Business Division
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Fin Serv
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Location
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Intl
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Location
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Bangalore
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Location
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SemiUrban
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Score
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40
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Score
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40
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Score
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40
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With the help of MESO you should try to understand the pain areas for the employer and areas where the employer is ready to give in.
4. Understand the integrative issues and the distributive issues: Your negotiation arguments should keep the nature of issues to extract the maximum from the pie.5. Take a break: In case the negotiation is not going in the direction of my desire, you should ask for a break and come back with a counter offer.
If you are not comfortable with MESOs and integrative issues etc, feel free to post a comment. I would be happy to help.
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