My cousin Jeremiah and I like to talk business together…
First of all, how cute is he? He is at Lulu’s son…
…and he was the youngest cousin on family trips, while I was the eldest…
…so I spent my childhood summers carrying it around Cornwall.
These days, Jeremiah lives in Pittsburgh with his wife and two children, and is a former Fortune 100 trader who now works 1-on-1 negotiation coaching. His work fascinates me, so I asked him to share his best tips with Cup of Jo readers. His immediate response:
When you receive a job offer, always ask for more.
“Long story short, people often leave money on the table,” Jeremy told me. “In a recent Pew Research Center study, 66% of people who asked for more money got some or all of what they asked for. There are few times in life when a short conversation can yield so much. Additionally, consider how much a salary increase can add up over the years. “The power of compound interest, baby!” he says.
SO! Here’s how to ask for more…
1. Get away from your you versus me mindset.
“You’re not trying to bully your way into getting more money,” Jeremy said with a laugh over the phone. “Everyone wants to make a deal, so it’s more about collective problem-solving.” So, keep your tone friendly and collaborative.
2. Remember it’s not just about money.
There may be other negotiable things, like a vacation or a better title. “For example, if it’s a start-up, it might not have a lot of money, but it might have some equity,” Jeremy says. “Maybe you could say, ‘It sounds like you want to save money, but could equity be more flexible?’ »
3. Talk to someone who is a good sounding board.
Discuss your strategy with your spouse, a trusted colleague, a cousin like Jérémie. “People can be great advocates for others, but not great advocates for themselves,” he says. “People tend to underestimate their influence with employers. Even in a down market, companies are looking for quality talent. So, talk to someone you trust in this area. “If you have someone good, talk to them,” advises Jeremy. “If you don’t, hire me!”
4. Negotiate via email, if possible.
When discussing numbers, try to stick to email. “If you talk to a recruiter, she probably negotiated seven deals this week,” he says. “You are simply overwhelmed.” So, don’t put yourself in the position of having a live conversation, where you might be confused. Instead, email allows you to gather your thoughts and make your case clearly.
4. Write a screenplay.
“People might think, ‘Oh, I’m not a good negotiator,’ but it’s just about presenting what you want and why you’re worth it,” Jeremy says. Don’t rush: write a script, plan your performance, copy and paste your talking points. There is so much value in preparation and thought.
5. Silence is precious.
If you’re negotiating over the phone or in person, use silence to your advantage. “After you make a statement like, ‘I’d do that for $175,’ STOP TALKING,” says Jeremy. “Leave it there. Don’t negotiate against yourself. Some view silence as a (fair) intimidation tactic, but it can also give both parties time to absorb the information and think of creative solutions.
6. Finally, it doesn’t matter if the answer is no.
“The goal is to make sure we don’t leave money on the table,” says Jeremy. “They may not be able to give you the amount you asked for, but at least you are empowered by this knowledge. You don’t want to go back and find out your coworker asked for $20,000 more and you could have gotten that too. Jeremy attempted to negotiate his first job offer as an entry-level banking analyst during a recession. “I had no leverage,” he says. “The answer was no. But you should make it part of your DNA to always ask for more money. Each time will get easier and easier, until it almost becomes second nature.
Jeremy with the only person who can surpass him.
THANKS, Jeremiah! His business is Cutting edge negotiations, if you’re curious or need negotiation coaching or help with pricing. She truly is the warmest person. “I have negotiated everything so far,” he says. “You may be thinking, They will never accept thisfollowed by, Holy shit, they just accepted this!