A Client Speaks - 18 Dilemmas Facing Executives in the Job Search
Dilemma 7 - Effective Negotiation: Don't Leave Money on the Table
They want to pay you what they want and not a penny more. You, on the other hand, want them to pay you what you think you are worth and not a penny less. The difference is the reality of the situation and addressing this variance calmly and purposefully determines how successful you will be in negotiating your package increase and also your future.
Do you know what should be on your three lists? Do you know what the three lists are? Have you set the priorities on each? At some point, one of you has to put a dollar amount on the table. How do you answer the following question in its various forms? "Tell me what you are looking for." Or, "Tell me what it will take to get you here." Or, "What did your W-2 show last year?" If you answer too low, you should be working for the next level down. If you answer too high, you price yourself out of the market.
Here's another truth. The hiring company really doesn't care what you "need." Their only concern is getting your labor at the cheapest rate, given what the market will bear. We know of executives who made enormous sums before the "dot-bomb" occurred who are taking up to 30%+ salary cuts. You don't have to if you know how to effectively negotiate and control the situation.
