Salary Negotiation Masterclass: Get the Offer You Deserve | Flo & Felipe | Skillshare

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Salary Negotiation Masterclass: Get the Offer You Deserve

teacher avatar Flo & Felipe, Co-Founders of The Way Factory

Watch this class and thousands more

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

5 Lessons (18m)
    • 1. Introduction

      0:28
    • 2. Negotiation framework

      1:39
    • 3. General negotiation tactics

      7:40
    • 4. Salary-specific negotiation

      6:29
    • 5. Conclusion

      1:27
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About This Class

This class is the 8th installment of our Masterclass series on purpose-driven job search. You can find our previous classes here:

  1. Mindset Masterclass: How To Cultivate Everlasting Growth
  2. Introspection Masterclass: Know Yourself and your Purpose
  3. Resume Masterclass: How to Create a Job-Winning Resume
  4. Cover Letter Masterclass: How to Write an Astounding Cover Letter
  5. Linkedin Masterclass: Making Linkedin a Job-Finding Ally
  6. Job Search Masterclass: Optimize Your Applications and Land the Interview
  7. Interview Masterclass: How to Ace the Interview and Get an Offer!

After this class you will learn how to:

  • Master holistic techniques to drive a negotiation towards a fair outcome
  • Become a pro of principled negotiation: Hard on the merits and soft on the people
  • Get to the salary you deserve!

Before you get started: Head to the Projects of this class to download The Way Factory Playbook, as it'll be referenced throughout our lessons!

References

Bill Burnett & Dave Evans - Designing Your Life: How To Build A Well-Lived, Joyful Life

Christophe André, Alexandre Jollien, Matthieu Ricard - Á Nous La Liberté!

Dale Carnegie - How To Make Friends and Influence People

Daniel Kahneman - Thinking, Fast and Slow

Don Miguel Ruiz - The Four Agreements: A Practical Guide to Personal Freedom

Frederic Saldmann - The Best Medicine Is You

Greg McKeown - Essentialism: The Disciplined Pursuit Of Less

Julia Cameron - The Artist’s Way

Roger Fisher & William Ury - Getting To Yes: Negotiating An Agreement Without Giving In

Seneca - Moral Letters To Lucilius

Simon Sinek - Start With Why

Simon Sinek, David Mead, Peter Docker - Find Your Why: A Practical Guide for Discovering Purpose for You and Your Team

Tim Ferriss - The 4-Hour Workweek

Wayne Breitbarth - The Power Formula for LinkedIn Success, Kick-start Your Business, Brand, and Job Search

Meet Your Teacher

Teacher Profile Image

Flo & Felipe

Co-Founders of The Way Factory

Teacher

Hello, we are Florence and Felipe! We are the Co-Founders of The Way Factory.

 We help you build purpose-driven lives by sharing tools and knowledge in the areas of self-development and professional growth. We are neither coaches, nor psychologists, nor therapists. 

 We are in search of well-being, wisdom, peace, and serenity. We are curious about everything that relates to becoming a better version of ourselves and living our lives intentionally.

 We are authentic, spontaneous, empathetic, and in love with discovering new restaurants!  

 

Our personal path has led us to listen to tens of podcasts, read hundreds of books, and watch thousands of videos on personal development, life philosophy, ... See full profile

Related Skills

Business Human Resources

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Transcripts

1. Introduction: Hi, and welcome to the salary negotiation course. In this class, you're going to learn a bad general negotiation technique. Always good to have in life, but also more specific negotiation related to your salary. We're going to teach you all the tips and advice that will help you achieve as child count, when you submit an indices, you're negotiating your salary. So are you ready? Let's get started. 2. Negotiation framework: I have decided to devote an entire section to salary negotiation since the subject leads to many question and narrate a lot of concern in this section, we give you all you need to make your salary negotiation is success. Before diving into salary specific negotiation, we figure it was interesting to share some tips and knowledge of more holistic techniques to optimize your negotiation. Negotiation tends to be perceived as a confrontation, a battle with a winner and loser. In fact, negotiation can turn into cooperation where each party benefits from it. They are often two forms of negotiators. Soft negotiators who for fear of conflict will often compromise their interests. And hard negotiator who for fear of not winning the negotiation, will compromise their reputation, a relationship. We prepared this part with the help of the book, Getting to Yes, in this book, Roger Fisher and William hurry introduce a third form of negotiation called principle negotiation, which is both hard and soft. Hard on the married and soft on the people. The focus here is to achieve mutual gain. And to do so, you must need to keep in mind the following guidelines which are more likely to help you to get a fair outcome that benefit both parties. 3. General negotiation tactics: Press gratitude whenever possible, express gratitude. Doing so, we'll have a positive impact on the negotiation for two reasons. You will create a personal connection that will foster cooperation to reach an agreement. The person can also be more conciliatory to avoid altering his appreciation. You have for them example, I am grateful and I truly appreciate you offer so that you are listening. One of the key rules in negotiation is to listen. If you want to be able to influence, you must first listen. Active listening. Who is your negotiating power? Because the information you get, the interests of the other person increase. Once you have understood their needs, fear, feelings, interests, and concerns. You can better address them and explore perceived areas of mutual interests. Listening is good, but showing that you're listening is better. Indeed, if you show through key sentences that you are actively listening, the other person will feel consider showing that you are listening. Increase your ability to convince example of key sentences to show that you are listening. If I understood correctly, you explain that my salary is based on let me check if I get you upon right. From your perspective, the major problem in giving me a higher salary is, correct me if I'm wrong, the point about my potential salary is to seek mutual gain, change the opposition relationship into a cooperative relationship. In negotiation where too often on the defensive, ready to respond with hardness. Tried to get out of this scheme and look for your common interests. Seek mutual gain. Ask yourself, what opportunity do we have for cooperation and mutual benefit. It helps make a shared interests explicit and to formulate it as a shared goal example, let's work together at a different point and how we can satisfy of both interests. I feel confident we can settle this matter fairly. We both being satisfied, sick, and no objective criterion to maximize your chance of success. Bayesian negotiation on fair requirements. Look for an objective, independent, legitimate criterion that is therefore difficult to dispute by your interlocutor. Avoid personal arguments. Don't mention your private life, school credit, apartment ready to justify a higher salary. Develop objective points as your managers will not offer you a salary based on your personal needs, but on your professional strengths, it must remain factual. Look for a criterion that helps to find an concluded an agreement that satisfies both parties. Example. Let's figure out a fair salary. What objective standards may be the most relevant. How did you objectively arrived at that figure? What standard did you use to determine that amount? What is the principle behind that decision? One factor to consider will be what order I paying for comparable work. Here in New York, they are paid $58 an hour. How does that sound? Think of alternative. A good negotiation lies in Grade Preparation. Having my different options that can satisfy both parties to reach an agreement. Roger Fisher and William Ury propose a good technique to find alternatives. They say, to quote them, you can multiply the number of possible agreements on the table by thinking of weaker version you might want to have on hand in case a salt for agreements proves beyond which, if you can't reach a permanent agreement, maybe you can agree on a provisional one if you want to aim for a higher salary and you feel that your interlocutor is not much in agreement. Think about alternative. For example, if a 3% increase is not possible, you might ask for 1% for six months and then 2% afterward. If they're satisfied with the job or a higher bonus, you manager will have a hard time turning down all your suggestion. So think of all the options available to get out of the negotiation with a satisfactory outcome. Likewise, keep in mind your personal alternative is negotiation does not succeed. What are your other plants? Consider every possibility. Tried to have as many card enhance as possible. You don't negotiate your salary in the same way when you have no other offer next to it, or when you have two, you are surely more confident and assertive. In the second case, ask questions instead of using statement. A good way to tamper criticism is to involve your interlocutor. And there is no better way to do this than to ask question statements generate resistance, whereas question generate curiosity and cooperation. Questions don't criticize, they educate. You can ask them for their opinion and what it will do is they were in your position. The question also allow you to reframe into change your focus towards collaboration and mutual interests. Example, humans have a really good reason for thinking that 45 k is a fair offer. How did you arrive at that number in negotiation? Remember this? Ask as many questions as you can. Is a base width to come a situation, sharpen your argument and promote a constructive dialogue that leads to a positive conclusion. Pose, and silence. Silence is a very effective tool. If your intellectual salary proposal is way below your expectation, then pose and leave a silence. People are uncomfortable with silence and quickly destabilized by your interlocutor will be embarrassed by your cylinder and we'll seek to get your intention to relaunch the conversation. This way, they will tend to come down or ask questions or propose a new suggestion or alternative that will all know the discretion to resume more commonly, all without you needing to say anything, take time to reflect. It is encouraging negotiation, especially when the stakes are high, to take the time to reflect and ponder your alternatives, it is perfectly fine to say thank you for this opportunity. I'm really excited and grateful for your offer. I just feel like one or two days to think about it. Will it be possible for me to get back to you within 48 hours? Be positive, visualize the outcome of a negotiation in a positive way, an approach, a discussion with an optimistic mindset I actually studies of negotiation consistently show a strong correlation between aspiration and results. Within reason, it pays to think positively. You instead of mind, influence the result. The more positive, determined, confident you are, the more likely the negotiation will be successful. 4. Salary-specific negotiation: It's now time to dive into the specifics of salary negotiation. First, you need to be aware of the key components in a salary negotiation so that you will have a full picture of what you'll be getting. Fixed, variable perks, variable package, gross net, everything must be clear in your head. 50 K of fixed salary is not the same as 30 kip feet and 20 k variable. And you also need to be clear about what you will accept. What do you want? What won't be acceptable? What is your ideal salary? Be aware of the Industry Salary Trend. Knowledge is power to master negotiation. So you need to know about the salaries in your city sector, trade industry. Knowing what your skills, expertise, and experience are worse will boost your confidence during a negotiation. And we'll give you an objective argument that you can use for a better outcome research company salaries for a similar position in your industry on sites like salary.com, payscale, Glassdoor, indeed salary negotiator. You can also have a look at salary surveys of recruitment agency, or even typically reach out to headhunters to have their opinion. There's will have a good knowledge about the industry salary rent when negotiating a salary. Sure you give a rent or precise figure. Researchers at Columbia Business School show that people asking for precise numbers are more likely to get a final offer closer to what they were hoping for. This is because the employer will assume you have done comprehensive research and you know exactly what you're worse than the market to reach that precise number, it is also commonly recommended to use a wrench. The main arguments supporting the strategy that when you do so, you are showing your willingness to cooperate toward a mutually beneficial outcome, which is likely to get you better results. Though I consider both arguments to be valid. My personal opinion is that a fair, well-thought, precise figure strategy is more beneficial for tourism. If you give a range, you will be disclosing your entire tolerance range, which could be used against you. Though, providing a precise number can sound a bit more closed mine. If the other person doesn't agree with your proposed number, you are willing your willingness to discuss further will eliminate the perception that you are not willing to collaborate. Don't get greedy, know your value. Remember that the strategy should be focused on an objective and mutually beneficial conversation. So don't get greedy. Targeting high is good, but stay consistent with your market and your experience. Or you may lose credibility. If you know that the salary regarding your experience keys and industry is between 32 to 38 k and you ask 85 k, you will be compromising your credibility. However, don't sell yourself, don't either. And for that, you need to be aware of your values. Prepare your talking points. Recall the results you have achieved and develop what you can bring to the company in the future. Show the recruiter that you are projecting yourself. Identify and record the requirements of the position you are filling. Tell them that you have a good understanding of the challenge of the position, the responsibility involved. Explain what you can bring to the company in your ability to respond to the stakes and challenge of the position identified before the interview. Your strengths, skills, quality, but also as a possible flow of your profile. Indeed, you may not master 100% of all the requirements of the job. It's all right, But these points can be used by the recruiter to justify an offer that is lower than your expectation. If you are aware of this, you can prepare your arguments to counterbalance the remarks. Example. The recruiter's saying, we can't offer you more than 36 K as you don't have extensive knowledge of ourselves software and CR. Correct me if I'm wrong, but you imply that mastering the software that I can assure you I can learn and master really quickly is worth more than all my customer network that I've been building for five years and that I'm able to bring to you. Choose the right timing. Don't ask about salary as one of your first question or at the beginning of the process. Although this question is, of course important, it shouldn't be asked in the first interview or even telephone pre-qualification. If the router brings up the subject, of course you can talk about it. But if not, do not address the topic, this could it in the final interview or at the end of the discussion on once you have been able to underline your skills, show what you can bring and makes a recruiter wants to hire you. And there are limit of negotiation that is not related to salary, but which must be considered in the following year starting date. What is your ideal starting dates? Before? What date is it impossible for you to start? Is your notice period negotiable? Do you need a one week break between two jobs? Hormone you don't notice, period. Can you start within two days to weeks, to months? The interests of the company, of course, is that you start as soon as possible, but their interests may not be yours. But under the pressure of fruit, you can give a date that suit them, but in the end, really suit you. Thus be clear and all these elements. So there you are not caught off guard and say yes to a date you will regret later. There is nothing wrong with negotiating your start date as long as you provide the right reasons, avoiding that you don't want to start now to be able to enjoy Netflix all day long, of course, explained, for example, that you can start before a certain date because you want to finish your projects properly or make a sufficient and over to ensure that you don't leave the team in difficulty. It actually showed that you are professional and respectful employee. 5. Conclusion: Negotiation is already a bit scary. But now you have all the cards, tool, arguments, and technique into your hands to make it goes smoothly. You have the right to negotiate a higher salary. You have the right to ask for two weeks of delay before starting. You have the right to as question about the salary package. All these is normal and it's part of the game. What you need to do is to do it with a lot of respect, consideration and explanation. You are an iron fist in a velvet glove. Soft inform, deciding content. If you decide between two offers or if you agitate, don't only take the salary into icons in your decision, salary is important, but also consider everything that contributes to your personal well being used. Everything you have learned in this course about the direction you are heading toward. Maybe one company offers you one came more, but another one offer you more career development opportunities. Maybe one company offers you more per year, but another one match your value and personal vision much more. You will have understood that a higher salary doesn't necessarily mean greater satisfaction. I invite you to really study the old elements related to your well-being. Money indeed can be part of it, but it's not the only one.