Career Negotiations Peter J. Goodman, Boxwood Technology Author of Win-Win Career Negotiations
Overview • Essentials of negotiating • Negotiating when: • Interviewing for a job (salaried, start my own firm, and how do I charge clients) • Determining your salary • Navigating an annual review
You Negotiate All the Time • Where to go for dinner • Buying a car • Personal relationships • Neg with your boss to come back to next year’s seminar (JOKE) Successful negotiations are “win-win.”
Essentials of Negotiation • Four key skills: • Active listening • Clear communication • Maintain self-control and composure • Focus on the end goal • One key theme: • Prepare, prepare, prepare
Before the Interview • Do your research • The company, industry, competition, etc. • Anticipate interview questions • Prepare questions • About the company, the position, work environment, etc.
During the Interview • Build a relationship • Listen actively • Ask intelligent questions about the organization based on your research • Demonstrate your experience and the specific value you bring • Maintain self-control/composure
Interview Pitfalls • Lack of preparation • Body language • Talking too much / too little • Not asking any questions • Putting personal needs over company needs
Before the Salary Negotiation • Set your goals by defining your desired compensation package • Research compensation range • Geography, company size, skills/experience (money mgmt needs) • MTA.org, SalaryExpert.com, The Wall Street Journal (DELETE) • Be ready to explain why your experience merits your salary goal (higher return rate consistently with considerably lower risk)
During the Salary Negotiation Remember: this is “win-win.” • Avoid putting the first number on the table… • …but if you have to: • Give a range with your desired amount at the bottom of the range • Explain how your experience merits the salary
Salary Negotiation Pitfalls • Lack of research to determine what is a reasonable salary range • Salary requirements based on personal need, rather than the value you bring to the company
Before the Annual Review • Define your objectives - perform is key! • Salary increase, promotion, more responsibilities, etc. (resell yourself, and good history) • Document your accomplishments • Show how you contributed to department and/or corporate goals • Anticipate the interview and prepare for criticism • Develop a list of questions
During the Annual Review • Build rapport with your supervisor/client • Listen actively and don’t be defensive • Position yourself for future growth in the company • Show that your accomplishments (portfolio performance) merit your objectives • Have to DEMONSTRATE performance – how many recommendations actually make $$?
Annual Review Pitfalls • Not taking the annual review seriously • Assuming your manager/client knows your accomplishments • Taking constructive criticism personally rather than seeing it as an opportunity to improve
Summary • When negotiating, always: • be prepared • listen actively • communicate clearly • maintain self-control/composure • keep your end goal in mind • look for “win-win” results…
…and have fun! Peter J. Goodman Boxwood Technology email@example.com