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The secrets to a successful (new) job negotiation

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New graduates often accept their first jobs by negotiating the size of their salary but fail to secure other “conditions for success” to ensure future financial stability, says an expert.

Dr Deborah Kolb, co-director of the Negotiation in the Workplace Project at Harvard Law School, says recently graduated job hunters are more likely to focus on money, but there are other highly valuable things on offer during a job negotiation.

“In negotiations, [recent graduates] are likely to focus more on salary,” Dr Kolb said in a revealing Facebook chat.

“They don’t understand that there are so many other facets to a package that might help in the long run.”

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Dr Kolb, who has authored books on negotiations in the workplace, says “negotiation is more essential than ever”. Her recent Q&A offers university leavers handy tips to ensure they get the best deal possible.

Internal vs external negotiating

Whether you’re going for a full-time role at a firm you’ve interned or worked at or you are interviewing at an organisation you’ve never set foot in, there are some key differences and similarities in negotiation approach, says Dr Kolb.

“Where I sit there are many advantages when you negotiate as an internal hire,” she said.

“You have a track record and you can show your value. Second, you have people who can vouch for you – they know your value. I always say allies are very important.”

While internal negotiations may be a lot easier to approach, you still need to be just as thorough on getting information on the role, as you would from outside the company.

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Know what the going salary is for your job before negotiating by asking people you trust. Photo: Shutterstock

This research is key to both internal and external dealings because you’ll be “stuck until you reach out to your network for information and support.”

Roll salary and benefits into one

When asked whether it was reasonable to roll your salary and desired benefit demands into one “total compensation package” during negotiation, Dr Kolb said “that is exactly what I would suggest”.

She explained that it’s important to put all your wishes on the table at once, because if you present them as separate it may be more likely you’ll negatively sway the focus of your employer.

“You always want to focus on the whole package and it gets them (employer) focused on that as well.”

The gender question

Dr Kolb says “the gender gap can expand” once in an organisation, because grad programs or traineeships don’t usually have different salaries based on gender.

“Differences in job opportunities offered to men and women; time out for maternity and use of flexible work arrangements … tend to exacerbate gender differentials,” she said.

If you’re faced with an employer who may be making life difficult for you because of gender, Dr Kolb suggests the three biggest keys are:

• Know your value (and believe in your value);
• Understand how to connect your value to what the person you are negotiating with values; and
• Understand negotiating tactics going in so you don’t let yourself get derailed.

Raising a raise

What’s the best way and point to bring up a promotion if you feel you’ve started your job well?

“Timing is everything,” she says.

“The best time to bring promotion to the table is when you have had a good run – a great project completed, good year. That’s when your value is highest.

“In my experience, when people are getting ready for a promotion, they are already doing some of that work, so if you can I would suggest trying to pick up something that you aspire to.”

And if things don’t go the way you’d like?

“You need to find out what you can do to position yourself better for the next one. I would not focus on why you didn’t get it but on what you can do better and then see if you can negotiate with the person who turned you down to help you.”

How much do I ask for?

Here, it’s all about backing yourself and leaning on people you trust.

“Never underestimate yourself because it becomes a self-fulfilling prophecy,” Dr Kolb said. “You need good information going in – get it online, but better get it from people who know” the acceptable salary for the role.

Alternatively, “you can go a formal route and try to find out from HR how they evaluate experience and salary”.

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