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Career Negotiations

Career Negotiations

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Career Negotiations

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  1. Career Negotiations Peter J. Goodman, Boxwood Technology Author of Win-Win Career Negotiations

  2. 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

  3. 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.”

  4. 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

  5. Interviewing is a Negotiation

  6. Before the Interview • Do your research • The company, industry, competition, etc. • Anticipate interview questions • Prepare questions • About the company, the position, work environment, etc.

  7. 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

  8. Interview Pitfalls • Lack of preparation • Body language • Talking too much / too little • Not asking any questions • Putting personal needs over company needs

  9. Compensation Negotiation

  10. 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)

  11. 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

  12. 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

  13. Negotiating an Annual Review

  14. 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

  15. 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 $$?

  16. 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

  17. 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…

  18. …and have fun! Peter J. Goodman Boxwood Technology pgoodman@boxwoodtech.com