[Class 6] Salary Negotiation Fast Class

Will you back down first in this negotiation showdown?

Welcome to class 6 of the Salary Negotiation Fast Class, where you’ll learn the skills you need to get paid what you’re worth in just 7 days.

OK class, settle down and stop giggling in the back. Every time I mention role-playing, there’s always someone that has to crack a joke. Well, let me be that person today:

Did you hear about the movie about role-playing a negotiation?
It’s called: 50 Shades of Pay

But seriously, once you stop rolling your eyes, you’ll understand what I mean.

The Importance or Role-Playing

Today’s lesson is about the importance of practicing for your negotiation in advance. In other words, role-playing the scenario before it happens.

I’ve worked with tons of clients, and after 45 minutes on a call, they THINK they know exactly what they’re going to say. However, as soon as I take on the role of HR in the last 15 minutes and start firing questions at them, their ‘game’ unravels faster than a bad Hollywood plot.

Here’s how this works

You’re going to need to set aside a little time to write down your responses and practice. So make sure you have the time now, or come back once you’ve cleared your schedule a bit. It’s worth it.

Step 1: Prepare for your “interview” by writing out your answers to the questions
Step 2: Get ready, then begin the video
Step 3: HR will ask a question, then the timer shows how much time you have to respond
Step 4: Practice answering in a clear, concise, and confident manner
Step 5: Repeat until you’re confident

Questions to prepare

  • Question 1: What is your current salary?
  • Tip: That’s none of their business! Say that you’ve done some industry research, but want to make sure you know everything about this position first. Another of my favorite phrases is, “Oh, I’m sorry… my current employment contract doesn’t allow me to reveal that information.”

  • Question 2: I understand, but before I can pass this along for another round of interviews, I really need to know what range you’re looking for here.
  • Tip: Don’t back down! HR is now asking for the desired salary that you want to make. Stand tough and phrase things a different way, say that you have additional questions, and use my Right Back At Ya method to find their range.

    Here’s an example:
    “I’ve done my homework regarding comparable positions in the industry and have a good idea of the market value for someone with my skill set. However, I know the range varies by company, so you’re probably in the best position to know what’s in line with the industry. If you can give me a range of what you have budgeted for this position, I’m sure we can settle on a number that works for both of us.”

  • Question 3: I’m happy to answer any questions you might have, but right now I really need to know what salary range you’re looking for.
  • Tip: HR is being persistent and says they really need an answer. Since they seem to be slightly agitated, provide a very broad range based on your research, with a strong caveat that you’d like to revisit at the end of the process.

    Here’s an example:
    Let’s assume you’ve gone through the 5 areas of salary research we discussed in Class 2, and that you’re pretty confident the job is going to pay somewhere in the $80,000-$90,000 range. You might say something like this:

    “As I noted, based on my research the salary range for a position like this varied, paying anywhere from $75,000 up to $100,000 or more, depending on the position. Since we’re still pretty early in the process, I’d rather not commit to a specific number until I have a full understanding of the job. So if that range is within your budget, I’d really like to focus on the job responsibilities first, and we can figure out the exact numbers later if we both agree it’s a good fit.”

Ready? Practice!

So, how’d you do? Let me know if you need a little more help.

Class 6 Summary

As you can see, the best way to ensure negotiation success is by role-playing the conversation and practicing before being put on the spot. Have a plan of attack and supporting data in reserve to respond to counter-arguments.

Coming up tomorrow the final class!: The Aha moment of Salary Negotiation Success

Fast Class Agenda:

[Class 1] Earning more starts with a negotiation mindset
[Class 2] How much am I worth?
[Class 3] To earn more money, bring these documents to your interview (Hint: it’s not your resume)
[Class 4] What to say when asked for your salary requirements
[Class 5] Negotiation phrases that pay
[Class 6] Will you back down first in this negotiation showdown?
[Class 7] The Aha moment of Salary Negotiation Success