Tips on Negotiating a Great Offer (and Why You Should!)
Project yourself into the near future, to that moment when all of your hard work from your summer internship om NYC has materialized into a job offer! Before this moment arrives, give some thought about what you are going to say—do you dare negotiate? Remember the sage advice, “if you want something, ask for it”? Turns out the hardest part about negotiating a great offer is convincing yourself that you should even try! It’s an uncomfortable situation to contemplate, let alone undertake—to suggest that after being given this amazing opportunity, you have the audacity to ask for more? But audacious is NOT the signal you send when you boldly choose to negotiate.
Mentally Prepare Yourself
Our culture sends mixed signals about discussing money—especially when it comes to asking for it. One career advisor notes that words like “haggling” bring to mind an old woman arguing over the price of a flea market find instead of young professionals discussing a salary and benefits. The truth: all successful career people cultivate the art of negotiation! Forbes points out the person who negotiates the terms of his or her employment sends this signal: “Top performers negotiate, and average performers don’t. If you are a top performer, then they expect you to negotiate.”
Practice, Practice, Practice
The hiring manager has this conversation every day, whereas you may only be in this negotiation seat five or six times over the course of your career. For you, it’s an uncomfortable unknown. For the hiring manager, it’s just another day at the office. In order to become as comfortable with the process as the person across the desk, practice by rehearsing with a friend until it becomes second nature. Have your friend mix up the order of the possible responses so that you will have an assured comeback ready — no matter what.
Do Your Homework
Before you are ever in the position to negotiate, be prepared by doing research. Browse sites like Payscale.com, Glassdoor.com, and Salary.com to find out the general range of salaries for your job. On the other side of the equation, explore what the company’s top challenges are and come up with some concrete ways that you can help contribute to solutions.
What do THEY need?
Think of the negotiation conversation as a collaboration, with the best outcome being a win-win for you and the company. Just as you want something (more money, a flexible schedule, extra vacation days), the company also has needs that you can help it accomplish. Come up with a specific plan about how you will tackle the challenges the company faces. Type it up on a one- to three-page proposal and present it during your negotiation. This will help you make a strong case for why it makes sense for them to agree to your requests.
Timing Is Everything
Wait until after you have received the job offer to discuss money. Forbes advises when asked the dreaded salary requirement question on a form, answer N/A, and in person respond “I’m sure we can find a number that’s fair for both of us but for right now, I just want to see if there’s a fit on your side and on my side.” Once you receive the offer, you can move on to your well-researched and rehearsed negotiation strategy.
If They Say No
“No” can be the start of the real negotiation. Think of each potential objection beforehand and come up with a response to each. If you hear “we don’t have the budget” or “you should be grateful,” remember, the hiring manager has had lots of practice! This is business, and the protocol is that you are allowed to (perhaps even expected to) respectfully respond. Just be aware of not pushing too hard and knowing when to stop—after all, you are going to be working with this person.
Start Practicing Now!
You can prepare to be an effective negotiator during your summer internship in NYC in the fully-furnished, beautifully-appointed student apartments at 33 Beekman. Living in this exclusive high-rise will put you in the company of other successful students who can help you practice! Located in the heart of the financial district — minutes from mass transit trains –the towering 34-story apartment building has gorgeous views, free laundry facilities, and a safe, intern-friendly environment. Reserve your space now through intrnz.com!