Day: 2 Session Time/Number: Session 2/ 11:00am – 12:00pm Session Space: D
Convener: Shweta S.
Notetaker: Annamarie R.
-What do you want to negotiate?
-House modelling ideas
-more movie time
-which days per week will be commute-days vs telecommute days
-which office location
-Whether or not the dog should be sleeping on the bed
-Work Life Balance (with home life)
Think About Why You Want This:
First off, know your reason. Will it make you content?
Secondly, Imagine. Imagine how you will be feeling, your life in one month when your goal is met. Visualize. Know where you want to be.
Now do your homework.
Get the facts: the salary numbers. support your reasons.
Understand what is already out there. Understand how much you can negotiate in this environment. Understand what everyone else is doing. Do you want to stick to the norm?
-Just because everybody has one thing doesn’t mean that you can’t ask for more.
-Don’t let yourself think that it’s rude to believe you deserve more.
Believe in Yourself.
What is the best scenario?
What is the worst scenario?
What is an acceptable scenario?
We will act those out.
Be ready to accept and walk out of your negotiation once you get what you want.
Don’t quit. You don’t have to be pushy, just don’t give up. You have to be proactive and know when to keep asking.
Pro Tip: Negotiate by mentioning that you want to be there long-term for them and that you can be the best YOU if you’re offered the best salary, benefits, etc. Explain why the offer that you want will keep you there and take care of you so that you can be a part of the company as an excelling employee for long term.
Pro Tip: You can mention that you’re really interested in their company, but you’re getting offers with higher salaries at other places.
You can give them a time-limit. Say that you have an offer lined up and unless you are offered something within x-amount of time, you would have to move on.
How Managers Think:
A manager looks at his/her team, and has to make them happy. S/he thinks, how am I going to motivate my team?
Work: Exciting Project. If an employee does a great project, than a raise, a promotion, and bonuses will follow
Employee may deserve a promotion after a couple years and should start negotiating 6 months before.
As an employee, try to get great work satisfaction, because then you will produce a great product, and then you can ask for the promotions and benefits that will follow.
Feelings: Give the other person the chance to empathize with you.
It can be important to let the person know how you feel, how it’s important to you
Role Playing Scenario 1: Salary Package + Stock Options +…
You’re offered a 100k job as a programmer.
Most of the jobs with the same description pay 130k. I’ve had a previous job offer and have more interviews lined up. Is there any flexibility on the salary amount?
To be a successful start-up, it’s important that the engineers are paid well. I would like to be at a place like yours with the brightest and the best engineers and they have to be paid well.
Hiring Manager says:
There’s not much flexibility.
If there’s not much flexibility in the salary, can are there more stock options available?
Hiring Manager says:
We feel that we are offering you $10,000 in stock options.
[….Keep going, don’t give up. ]
Role Playing Scenario 2: Getting The Internship
Hiring Manager says:
I have a lot of applicants, why should I choose you?
You say: I have been programming since high school. Now I am in University, I’ve been working on these projects. I am very passionate about programming. I am open to change and open to new things.
Pro tips: use examples to back up your points. Make it personable, what makes you unique that adds value? Research the team and their values, what they want to add to their company.
Don’t just talk about you, show that you’re a team player and talk about the company.
Have your elevator pitch ready in your pocket. Be concise, and be clear. Why are you passionate about it? Tell them what you’re looking for.
Role Playing Scenario 3: More Movie Time
Child asks for more movie time, gives up after parent says repeatedly to go outside and spend time on homework.
Child asks for more movie time, parent says yes.
Child asks for more movie time, says she felt that she worked hard. She needs to relax
Pro Tip: [It can be important to let the person know how you feel, how it’s important to you]
Parent presents a compromise, if you do your homework and piano for some time, then you may watch movies. Child says: okay, if mom makes popcorn too.