Jim: Being courted by smaller company who couldn't pay! Creative
compensation package included perks, benefits, tax benefits and
Jerry: Fifteen minute coaching nets 45,000 cash and up to
$25,000 over that. Book got the strategy, coaching built the
Step #2 (of 5) Who Goes First
2. Salary-Making Rule #2:
Let Them Go First
Once they're serious, you need to let them make the first move. If you go first, you'll be either too high, too low, or just within their range. But since you won't know ahead of time which of those three numbers applies to you, you can lose the offer by coming in too high or too low.
You can also leave money on the table if you're too low
or within the range, so usually the best strategy is to
let them go first. That way, you know you have an offer,
and you have a solid base to negotiate from.
If you have the job LOCKED UP, then sometimes going
first with a high number can act as a magnet and pull
their offer up higher.
Also, this rule does NOT apply to conversations with a
headhunter. You score "Honesty Points" with
3rd party recruiters for disclosing all accurately. Try
to get their estimate of your market, first, though, so
you know where you stand; then fill them in on your
salary history and expectations.
--MORE ON THIS TOPIC: Recruiters are discussed in
Chapter 8, special situations.