The Art of Salary Negotiations (and Reviews)

April 15, 2019

Presented By Ellis Chase

JohnsonCornellSC Johnson College of Business

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• The Negotiating Mindset

• Avoiding the Subject (and dealing

with the new law)

• Deferring the Real Negotiation

• Face-to-Face Negotiation- prioritizing

• Salary Review

The Art of Salary Negotiations

Cornell/SC Johnson Graduate School of Management

Agenda

3 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management

The Negotiating Mindset

GREED IS

GOOD

4 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management

The Negotiating Mindset

But seriously…

You’ve Earned It

5 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management

The Negotiating Mindset

• Sunshine

• Light

• Success

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Avoid the Subject

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Avoid the Subject

Too Low

8 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management

Avoid the Subject

Too High

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Just Right

Avoid the Subject

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Avoid the Subject

HOW? (and what effect will the new law have?)

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Defer the Real Negotiation

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Too Low

Cornell/SC Johnson Graduate School of Management

Defer the Real Negotiation

13 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management

Defer the Real Negotiation

Just Right

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Defer the Negotiation

Lottery

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Face to Face Negotiation Strategy

Creating the Win-Win

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Face to Face Negotiation Strategy

From: Kanye WestTo: Donald TrumpSubject: Salary QuestionDate: March 23, 2019; 4:13 P.M.

Dear Mr. President:

I’m very excited to receive the offer. It’s a bit low, according to what I’ve learned from my market. What can we do to get it up to what’s more appropriate for my experience and skills?

Looking forward to making this work!

Best regards,

Kanye

17 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management

Face to Face Negotiation Strategy

From: Jared Kushner.To: Donald TrumpSubject: Salary QuestionDate: March 23, 2016; 4:13 P.M.

Dear Dad,

I’m very excited to receive the offer. It’s a bit low, according to what I’ve learned from my market. What can we do to get it up to what’s more appropriate for my experience and skills?

Looking forward to making this work!

Best regards,

Jared

18 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management

Face to Face Negotiation Strategy

Vocabulary List

• CLARIFY

• WE

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Face to Face Negotiation Strategy

Prepare List:

1. EASY QUESTION

2. ANOTHER EASY ONE

3. MAJOR ISSUE

4. EASY

5. SECOND TOUGHEST ISSUE

6. EASY

7. TOUGH

8. EASY

9. TOUGH

20 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management

Face to Face Negotiation Strategy

SALARY

BONUS401K MATCH

ORGANIZATIONAL

STRUCTURE

CARREPORTING MATRIX

OFFICE

OPTIONS

SIGN-ON BONUS

Insurance

21 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management

Salary Reviews

But seriously...

You’ve Earned It

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Sunshine, Light, and Success

Cornell/SC Johnson Graduate School of Management

Salary Reviews

23 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management

Salary Reviews

• Context

• Action

• Result

Be Prepared with Several CARS:

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Key Takeaways

• The Negotiating Mindset

• Avoiding the Subject

• Deferring the Real Negotiation

• Face-to-Face Negotiation

• Salary Reviews

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Q&A / Additional Resources

Salary Information

https://www.ellischase.com/salaries

26 Johnson | Cornell SC Johnson College of Business Cornell/SC Johnson Graduate School of Management

Q&A / Additional Resources

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Coming Attractions/ One More Webinar!

• Career Transition in the Next Phase of Your Career: The 30,000-Foot View

Thursday, April 18, 8-9 pm ET