The Art of Negotiation

Q: I just interviewed for a promising job and expect an offer in the near future. Salary negotiation, however, makes me nervous – especially in a tight economy. What tips do you offer?

A: Remember that all job offers are negotiable. In fact, this may be the only time when you have the upper hand - so you have more power than you think. According to Dr. Giuseppe (Joe) Labianca, Ph.D., UK Gatton Endowed Associate Professor of Management, there are many strategies for improving your negotiating ability. “First, never begin a negotiation until you have a firm written offer. Some firms may ask about your bottom line number, expectations, etc. before offering you the job – dodge and deflect. Believe in the value of what you are selling. Emphasize the positive aspects.” Next Dr. Labianca suggests that you must have data in order to negotiate effectively. Conduct extensive on-line research and also talk to a wide variety of people when trying to gauge your value. Then, open aggressively with your highest defensible offer. Dr. Labianca states that, “Most negotiations end at the midpoint, therefore, when giving concessions on that point, try to get concessions that are more valuable to you on other issues (e.g., vacation time, good schedule, travel expenses, tuition reimbursement). While it’s healthy to take a broad view of your interests in a negotiation, don’t assume that you have to trade those interests off for wages and bonuses. Present wages form the basis for all future wages, and giving up on them has a huge cumulative effect over your career. But don’t get hung up entirely on wages, naïve negotiators focus too much (and sometimes exclusively) on wages to the detriment of other issues that can provide more value.” To learn more about Negotiation, watch Dr. Labianca’s recent UK Alumni Association presentation at www.ukalumni.net/career (Career Related Videos).