Salary Negotiation - Questions Flashcards
How should I respond when someone pushes back on a counter offer?
- Don’t fold on the number. Don’t feel like you need to negotiate yourself down when they ask if you can do lower or propose a counter offer.
- If necessary, enlist their help on getting to your specified range via benefits. Ask if you can reconvene in a short amount of time and brainstorm some ideas.
How should you respond if an employer tells you the offer is non-negotiable?
“Alright, Can we come back together, Can I think about this? And put together some other options or creative ideas for how we can work this out to a certain point because I’ve done my homework and I don’t want to get there and not have it work.”
How should you respond if the employer pushes back on your counter offer? Or asks if you’re flexible at all?
“I need to look at some of the benefits and the larger compensation package, like language classes, maybe I can find some wiggle room., but my ultimate goal is to get to the number I’ve given to you. And we can get to it in a couple of different ways. Do you have any ideas? Why don’t we reconvene and think a bit and figure out some ideas how to get to here in some form?”
What would you say to justify the range you offer as the appropriate compensation?
SPEAK SLOWLY
”I’ve done two things. The first is that what I will need to live a good life while in China. I’ve looked at a lot of different reports on cost of living. Secondly, Ive talked with people on the ground to get a good understanding because I want to make sure if I move over there I don’t have to worry about that. And secondly I’ve been looking at compensation reports is for someone for this type of role in China, And taking those two things together the number I got is $64000 or $66000.”
What should you say before the end of any conversation when the negotiation has not finished?
Don’t let it go to email. Always plan in the next conversation.” Can we talk about this in 72 hours? What would work good for you?”Don’t let it go to email. Always plan in the next conversation.” Can we talk about this in 72 hours? What would work good for you?”
How should you frame the conversation with the employer at the very beginning?
Articulate to Erika at the beginning that been doing research on this, nervous to talk about it, because moving forward you want to have an open and trusting relationship with you.
What’s a personal connection you can use with Erika?
- Make it something recent involving the business or her work. Maybe impacted by new regulations on ed tech at all?
- Look up latest news in Wuhan
What is compensation at LDI/ISC based on?
Know that compensation is based upon level of education, years of experience, number of years at company.
What should be your mindset approach to salary negotiation?
So when you think of negotiating a job offer, don’t imagine haggling over a used car. Think more like negotiating dinner plans with a group of friends, and you’ll fare much better.
While you were thinking about how to haggle over slices, I’m thinking about how to give both of us more than just half of a cake.
How to respond if you want to look at the details of the contract first?
- Ask to review offer and come back and ask questions.
“Fantastic! I’m excited about the offer! When you send it I’ll over it carefully to make sure I understand all of the details. Would it be okay then to ask you any questions? And when do you need to hear back from me?”
- Don’t be a decision maker.Even if you don’t particularly care what your friends/family/husband/mother thinks, by mentioning them, you’re no longer the only person the recruiter needs to win over.
““I’ll look over some of these details and discuss it with my [FAMILY/CLOSE_FRIENDS/SIGNIFICANT_OTHER]. I’ll reach out to you if I have any questions. Thanks so much for sharing the good news with me, and I’ll be in touch.”
How to respond when the employer presents you the salary information, “We’re paying you $3000 per month. Is that okay with you?”
“I’m looking at this move in a total package. Right off the bat that’s in the ballpark of what I’m thinking, but I need to think a little bit more about what else is included. So I jut want you to know a little bit more about what that looks like.”
What is your BATNA (Best Alternative To a Negotiated Agreement)?
Note: usually whenever you signal your BATNA, you should also re-emphasize your interest in reaching an agreement).
“I’m also considering going back to grad school and getting a Master’s degree in Postmodern Haberdashery. I’m excited about [YOUR COMPANY] though and would love to join the team, but the package has to make sense if I’m going to forego a life of ironic hatmaking.”
What is your desired start date?
September - October
What are the concessions that you’ll offer that are low cost to you but perhaps high value to them in order to get abroad full time sooner?
- Sooner start date
2. Prioritize projects the need
What is your UVP? Or, how are you going to express your value to this position and justify the range you’re looking for?
?
How will you lead into making your proposal to work abroad full time sooner?
What will you do after this?
Reiterate how excited you are for the offer.
Emphasize shared goals for the role.
“I’m so grateful for this offer. I love this company and the mission, and I do see this as a place that I could be with long term. I’m thrilled about this offer and it’s great to be in a place wherewe both want the same thing. I want us both to collaborate with you on shaping this role into one that build trust with incoming and current parents in the community and help them feel like active participants in their children’s learning.
Name several high-value concessions (for them) you’d be willing to make.
“l wouldn’t mind starting as soon as possible (although there may be some things to work around in October) and tackling your highest priority project. I would also be happy to work on a part-time contractual basis to start out. How does that sound?”
(Pause and let Erika respond)
What salary amount are you willing to compromise on for the sake of moving abroad sooner?
?
How will you start to make your proposal to work sooner full time abroad?
Now, I’m a bit nervous to propose this, but I want to make sure that we establish clear and open communication with one another from the beginning.
I am passionate about stories and I’m driven to encounter new stories, cultures and experiences otherwise unfamiliar to me and share those with others.
The most valuable component of working for LDI/ISC for me is the global reach of the company – the opportunity to be on the ground and immersed in another culture.
I want to be moving abroad with a full-time position by the end of January 2022, give or take a few months. Knowing that might be subject to forces beyond our control, I do have some ideas, but I’d love to hear what you think first.
How will you propose working in the UAE?
In an ideal world, I’d be headed to China by the end of January 2022. As we both know, that may not be possible.
I’d wanted to propose relocate to your location in the UAE. I think this would strengthen ISC Academy in several ways.
Reasons & benefits:
- Worked remotely for five years with several different international organizations. Success of a remote team. Make it easier to get to know you personally and also improve communication. - Make sense that a remote learning school might have some remote employees. Know better what students are going through. - Closer in time zone, only four hours ahead, and it would make remote working more manageable. - Foothold in Middle East
Would you have any ideas for accommodating that?
If you need more time to think about everything, how will you respond if Erika asks you what you think about the contract?
- Thank her for the offer. Tell her you need some time to discuss with family and friends.
“Fantastic! I’m excited about the offer! Thank you for taking the time today to answer my questions. Since I’m just getting the full scope of the role today, I’d like to take some time to review what we talked about today and discuss it with a few mentors and family.
- Ask her if you could schedule a time to discuss the contract more.
“Would it be okay for me to reach out to ask you any questions? And would it be alright to schedule a time next week where we can reconvene and discuss the final contract?”
What is your UVP concerning your marketing skills?
Managed digital marketing and content creation for four international organizations. Majority to international audiences
Skills covering content creation and digital marketing.
CC: Photography, videography, web design, graphic design, brief writing
DM: conducting audits and creating calendars, social media marketing and analytics, 6 years on WeChat, strengths and challenges with each format
Contributed to preparation, implementation, and communications for the US State Department’s six-week Next Level hip-hop exchange program to Azerbaijan, Egypt, Morocco, Algeria and Tunisia. Spearheaded online engagement with Northern African, Eastern European, and Middle-Eastern audiences online, increasing Facebook engagement by over 10,000 followers in four months.
UVP: Develops and manages regular communication with stakeholders including the school website, Wechat, Facebook, Instagram etc
What is your UVP concerning your audience/cultural knowledge?
International Students
- over 8 years of combined experience working with multicultural audiences and organizations - Masters background and consulting experience in transnational education and issues of culture and identity of TCI.
Chinese students -
Understanding of Chinese culture -- all-together 6 years, five years spent including education background collaborating with Chinese parents and their students.
First two year in China working with parents one on one in Kunming
Later three years working remotely with parents and their students via VIPKid, incorporating feedback.
UVP - I’m familiar with the importance of cultural heritage and other desires of Chinese parents for their children, know how to communicate. Only strengthen messaging to them.
What is your UVP concerning your research and problem solving skills?
I’ve consulted with over three multinational companies on issues regarding stakeholder engagement, partnership building, and communications.
Serve you to locate the stakeholders you need to increase enrollment and locate targeted information to direct growth strategies- regardless of how niche and remote.
in the instance of ER,
I found the contact info for an expert of luxury train travel markets in Europe during Covid.
- Identified 5 potential European customer bases for ER’s luxury train product and crafted 15 tailored product packages.
- Jump-started four business and marketing partnerships between Executive Rail and four other European luxury train firms.
UVP:
- Uses commercial, education sector knowledge, data analysis and other market research to inform decision making pertaining to revenue growth, student enrollment growth strategies and new entrepreneurial opportunities.
- Identifies and consults with key stakeholders on any matters related to student enrollment.
How and when to assert your UVP?
One effective move you can make in a negotiation, ESPECIALLY AFTER AN ASK, is to emphasize the unique value you’ll be bringing to the company.
Be confident without boasting or trying to hold yourself to specific metrics (unless you’re supremely confident). Whatever you assert should be something you’ve touched on earlier in your discussions, but it’s okay to repeat it now as a gentle reminder.
“I know that you guys are looking for someone to build out your Android team. I believe I bring a lot of experience leading a team of Android developers and I’m confident that I’ll be able to bring your mobile offerings up to parity with your competitors.”
What is the name of the school in the UAE?
The Wellspring School, RAK
What are your hard and soft requests?
If you are going to ask for several adjustments to the offer, divide your requests into hard and soft categories, salary negotiation experts say. Anything related to pay, bonuses and stock options should be negotiated together, as part of your hard requests. Once you have reached an agreement on those, move on to the softer requests like vacation time, flexible work and job title.
What are some things you can say to frame your counteroffer to their initial offer?
‘I want to be fairly compensated for the role based on my experience and qualifications.’
I am certain if it’s the right fit, we’ll be able to agree on a number that’s fair and competitive to both parties.
“I’m really excited about this opportunity. If we decide to work together, I’m sure we’d find a salary that matches the value I’ll bring to your organization. Can you give me an idea what you’ve already budgeted for this position?”
What are you going to tell Erika about negotiating?
“Of course you realize that you’re hiring me to run your deal team so you want me to be a good negotiator.”
“This is the only time you and I will ever be on opposite sides of the table.” In other words, “I am clear that we’re on the same team here.”
I don’t know how typical it is for people at my level to negotiate, but I’m hopeful that you’ll see my skill at negotiating as something important that I can bring to the job.”
How to present your BATNA?
“I’m also considering going back to grad school and getting a Master’s degree in Postmodern Haberdashery. I’m excited about [YOUR COMPANY] though and would love to join the team, but the package has to make sense if I’m going to forego a life of ironic hatmaking.”
How to present your counteroffer?
Be polite, and if you want to strengthen the offer, tell them clearly how you feel about it. This builds trust and conveys seriousness.
“I’m really excited about the problems you guys are working on at Evil Corp…I appreciate the work you guys put into constructing this offer. But there were a couple things I was unsatisfied with.”
How to assert your value?
Be confident without boasting or trying to hold yourself to specific metrics (unless you’re supremely confident). Whatever you assert should be something you’ve touched on earlier in your discussions, but it’s okay to repeat it now as a gentle reminder.
“I know that you guys are looking for someone to build out your Android team. I believe I bring a lot of experience leading a team of Android developers and I’m confident that I’ll be able to bring your mobile offerings up to parity with your competitors.”
How to end the negotiation?
Be clear about your deadline.
Assert your deadline continually.
Use your final decision as your trump card.
Your narrative should basically be “I want to see the strongest offer your company can muster. Then I will go into my cave, meditate for 10 days, and when I emerge I will have decided in my heart which company to join.” This gives you enormous power to avoid any on-the-spot decision points or premature promises.
Whats the deadline you’ll give to sign for?
???
What is your trump card to seal the deal on a negotiation?
Hi Joel, I’ve been thinking it over and it’s genuinely a really tough decision for me. I loved everyone at [COMPANY] but the one thing that makes it hard for me is the salary. As you know I’m trying to pay off my student loans so salary is really important to me right now. If you can improve the salary by 10K a year, then I’ll be totally ready to sign.
What type of questions should you be asking?
OPEN-ENDED QUESTIONS ONLY
“I’d like an increase of X to feel good about accepting the offer. How likely is it that the offer can be changed to accommodate that?”
