Don't ask for your "ideal" number
A question that comes up all the time with clients is whether it makes sense to negotiate for your "ideal" number, for example:
Hi, Gerta here! 👋
A question that comes up all the time with clients is whether it makes sense to negotiate for your "ideal" number, for example:
“If they give me $300K, I’ll be satisfied. Can I just ask for that?”
I don’t recommend it. Here’s why:
1️⃣ You will likely end up with a lower number. The common practice in negotiations (though not what we recommend) is to ask for a number higher than what you would accept, therefore, the other party will likely come lower.
2️⃣ If you’re considering negotiating, one side of the negotiation is thinking about what will satisfy you. That’s important. Another is considering the total amount of value that is available on their end. Why not capture that value (while preserving or even strengthening the relationship)? Yes, it’s possible. We do it every day with our clients.
3️⃣ Consider your other opportunities. Where will they land after you negotiate? You may be satisfied with $300K now, but when our clients end up getting another offer for, say, $350K or $400K, they wish they had tried harder with the previous negotiation and the company that was a better fit.
4️⃣ Consider the future. If you get laid off, you'll wish you had negotiated more so you could beef up your savings. Even if you stay and get a promotion, the raise is often a percentage over your initial comp, making it even more important to have negotiated the initial comp.
We discuss this and all our negotiation tips extensively on our weekly podcast, Gentle Power. See all our recent episodes here (YouTube | Spotify | Apple).
Best,
Gerta
Cofounder, YourNegotiations.com
P.S. Are you job searching or have upcoming negotiations?
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