8 Rules for Offer Negotiations by Gaurav Sen
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- Опубликовано: 8 июл 2024
- Gaurav Sen discusses negotiation principles that can be used when negotiating a job offer or contract.
One way to define negotiation aims would be to increase the offered price, while the employer tries to lower it.
A better way would be to look at negotiations as a win-win collaborative exercise.
Here, both parties work to derive maximum value from the transaction. Preparing alternatives for negotiation, such as multiple offer letters, or understanding the market standard, are key to improving your position in a negotiation.
00:00 Intro
00:20 Agenda
00:45 Example Offer
02:20 Conflict to Collaboration
03:20 1. Prepare alternatives
04:39 2. Market Research
05:33 3. Don't negotiate for them
06:55 4. Worthwhile Intangibles
07:42 5. Increasing your value
08:53 6. Insurance/Variable Pay
11:24 7. Don't buy dreams
12:46 8. Fairness from your side
14:09 The 8 rules for offer negotiation
15:07 Actual Incident as Example
16:54 Takeaways
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Negotiation ends for most of us when we get a call and the first introduction includes what's your expected salary!
Quote a high amount. You don't have to feel guilty about a large difference in your current and expected salary. If a comany wants to hire you, what you got paid previously should not be their concern. Ideally they should not be asking for it, but they do. I don't think refusing to answer is a good idea in the current Indian context but you can still be bold about what you expect.
I asked for 10 lpa in introduction; once i cleared all rounds i aked for 13.5 lpa but company offered me 15.3 lpa; sometimes luck works
most companies outside India have to adhere to market rates and there is salary band they need to stick to, they cannot just pay you more just because you are asking for it. Employer seldom try to push down your salary as this is consider as discrimination, some company need to publish their salary data too. Do your own research , ask what is reasonable, don't undercut your standard, if you cannot survive on the salary they offer then look somewhere else. Also take consideration of company culture than just the salary, not everything need to be analysed by graph and tables, there is also emotions and your own values. When people get greedy and ask more then company goes bust like whats going on now. Life is not all about money its also about stability of mind when you get paid each month and you enjoy the work you do.
Thanks.
very nice video thanks
Regarding emotions part, That's gem. You are there to work and get paid, not to teach or to be taught EQ lesssons.
Hahaha exactly!
With respect to top of line quote : I have heard from friends experience were the offers were not given as the quoted offer was too high. Employer feel that since the candidate is expecting the high quoted number they would just accept the lower quoted offer for now and then use it for negotiating with other companies. There are instances where either the offer was called off taking a weeks time or lower quoted official offer was released only a week before joining.
I hear this too. Shopping has made the employers wary of revising any offer. They add a clause of joining in 7 days then 😛
@Aniket Mahadik Nothing happens. You can say no on the last day, although that is unethical in my opinion.
Like, I'll marry you, sure. Oh sorry, I like someone else 😛
@@gkcs been there done that
Thank you Gaurav ! Very useful.
Thank you!
Moral of the story is, calculate the resultant vector
Thankyou for making up this video. Very informative.
Glad it was helpful!
Great Content, very informative Gaurav.
Thanks.
Thank you!
Thanks a lot for this. Its really hard to negotiate as I am a very agreeable person, will try this later.
You can do it!
Damn man, I would have been so lucky, I had watched or access to this video 2weeks ago.
Never too late!
The video is 3 years old , i guess
Hey Gaurav, It's a really interesting topic u picked and much good content delivered. Can you also what are best places to check for market standards regarding our skills ??
Most of the ways to check for market rates is taking multiple guesses :D
So asking friends, colleagues, former employees, aggregators (glassdoor, linkedin, levels.fyi) is likely to be your best bet.
So damn realistic. Thanks for this.
Thank you!
"You regulate Your emotions... and let them handle their life" 🤣🤣🤣🤣🤣
6:30
You're killing it!!
Thank you 😁
hey gaurav, now if i made the worst pay negotiation by saying the lower number which I thought was fair but now since when i am contributing to the product, can i tell them to reconsider my value again? or what's the right way to handle this situation?
Super digestable video!
Thanks
Yes you can, go for it!
Get competing offers at tier 1 companies with 90lpa salary band. Perform interview well. Just that.
What is point number 6 and 7 abt fear can u explain more
Liked the video. But there are a lot of books, articles, videos for theoretical negotiation. Can you demonstrate the points with a live example with a recruiter?
I'll try a demo next time 😁👍
If employer asks for your existing offer, can we send them a soft copy or we need to negotiate verbally?
Either will do. If you want to back up your words with proof, a soft copy is fine. If you don't want to share the offer, verbal claims may be enough (the employer may not agree though).
60l, 90l, 1c - dreams numbers.
In the US.
The person was being offered a director level position at (cricket live streaming company). They instead chose the FANG offer. Both offers were in India.
A good option is to also negotiate for esops or stocks . In India any salary above 40 L demands too much income tax so better to just take stocks and get capital gains than pay income tax
The stocks when vested are also subject to deduction of income tax. If you keep them vested and you gains from the vest day share value, then that's subject to capital gains tax too.
Hy Gaurav , you are a great tech creator. I want to ask when is this video shot and for what platform. Because you said 100k is 60 lakh, so it is old video for any premium paid members or what. If there is any 1:1 with you please tell
yeah, i too had this doubt. as of now $100k is around 80L INR
@@mohitmohlia8420 why gaurav is not replying to our comment
Sorry to go off-topic but you look like Saurabh Mukherjea from Marcellus Investment Managers
if employer is pushing to join immediately how to postponed that .
Ask them why they need you so soon? Can you work for a few weeks part time? Is there an important project that you can get context on during the weekends?
Hey Gaurav very nice video , can you create content on how to crack foreign job offer, no great content on this topic, also for foreign companies linkedIn and all are not working.
@Gaurav have you tried these tactics yourself?
Yes.
@Gaurav
Can you mention if turning down the offer completely is a good option as well?
I personally noticed that when I declined certain offers, the recruiters came back with much better numbers
If the offer is unacceptable, turning it down is the right thing to do.
If it is acceptable, check on how you can improve it.
I am getting 9lpa in my first shift and my current company just gave promotion with some performance hike. Can I ask my HR to revise the 9lpa saying I got some performance hike??
You can't ask them for favors, instead tell them that your current company value is X, and the cost of shifting companies is at least 20-30% for you.
If you aren't feeling like negotiating, then accepting the offer happily is also fine.
HRs do you have to say something?
HRs watching this so they can develop counter attacks.
Hahaha!
March is here so am I
Watching this as a 2nd year student lol.
Bro came dressed for the job😎😎
:D
Now a days the companies with 8.5 years of experience or more are not ready to pay above 35+. They are not at all ready to negotiate , where my Sal for exp is around 27LPA but not ready to pay above 30 LPA. Really shame on the MNC, they just took interviews later tell don’t have the budget. This plans will never works. Also it’s recession time everyone is ready to layoff or giving less market salary packages.
Intested in knowing more. What kind of companies? Consulting companies, product companies? What skill set?
@@lhxperimental for consulting service based and product base companies
And what to do who are paying 10k 20k 25k rupees per month 😵💫🙂
100K$ is 82lakhs
Gaurav's Database is still in those old days : )
starting song give me rachit jain iit r
$100k is equal to 60L? When was this video made? :D
tax deductions
Guys if you ever get $100k don't negotiate take the job immediately
How to bargain 6Lpa to 90Lpa
Offer them 15 years of service.
I want a Million dollars, I’m being tough.. lol 😂 😂😂
Give them a offer they can refuse :p
@@gkcs Agree!!
Give them any offer and they gonna refuse first and then accept it
and so it's employee duty to do market research and go for upper cap/extreme end of window.
Dormamu , I've come to bargain.
Hahaha!
I think you made the subject too complicated. Best thing to do is to check in different sites about the company payscale for the role and position you are being interviewed in the past 3-6 months and decide your ask. Simple
That's a part I have mentioned. If you want to up your game, you need to do the extra legwork (find out what they want, etc...)
$100K is 60Lakh? I want to live in this economy
This won't work in the current recession 😀
These principles are from Harvard and Cornell. I have seen them work even in desperate situations.
1. Say how much you want
1.1 If they agree, take it
1.2 If they don't agree, walk away
That is one strategy. Doesn't always work though 😛
How is 100k usd 60L?😂