Digital Sign Negotiation Made Easy

Signed negotiation

[Music] welcome to Tallinn on top this week we are talking about salary negotiation and I'm excited to talk about this Brenden because there's so much conversation about fair pay equal pay how to negotiate how negotiation differs between gender I mean that's a ton they're lumpy under we went to our insights team here at LinkedIn to understand what candidates out there job seekers care about most let me give you a little bit of data statistics here so out of a list of probably 15 10 to 15 different areas that may be important to someone in their job search the number one thing was comp compensation all right compensation second most important thing was career opportunity which is really really interesting and in all we went out asked the question of around 7,000 people or so when you're leaving a company why do you leave the third most important on there was compensation so it's clearly very important for people it's the most important thing with people looking for a new job all right so as a recruiter how do you enter the seller negotiation process and does it differ depending on who's across the table from you what do you do as a recruiter first well from the pro well from the very beginning I want understand what's most important to you because my feeling is if I can if when I have enough relationship built early on the process and throughout the process for you to truly share with me what's most important like you know just don't think you can't answer really what is most important to you long term equity cash variable pay roll up side you want it in general which looks like money aside what's most important what are you really whatever it is yeah job purpose yep a memo punches tell me what's most important for you what are you gonna say yes to right away all right and then on the compensation front we get to that a lot of pre-closing really understanding what someone's expectations are because my feeling is by the time you get to the end of the process when the preparation is done properly when there's a connection when people are being open and transparent truly saying what the job can offer and you let me know it was most important to you the closing of the deals or consummation of that deal should be more of a formality like it should not be a struggle but oftentimes because it's a difficult topic that perhaps candidates don't want to bring up proactively maybe recruiters don't handle thoroughly or early enough in office obviously is breaking down in the closing process alright so part of this episode dialogue with you and I today is about salary negotiation and so we had a conversation walking over here today about that and say like there's this first lob over the table and then what so what is that dance can you describe for the audience the typical dance and how you guide all of them your BFF you know into this dance because this is Pesci this is a big deal yep I love the dance I love it you know your size dilemma it's one of my favorite parts of my job so I would say in the you may be world today and definitely the world you know we're coming out of I think we're entering the new world of transparency yeah we can get into that so you know sort of looking backwards or today what I would advise is always negotiate always negotiate so let's break this down so you've got three components to negotiate against yeah right so benefits packages are pretty standard not gonna go she ate that but you got base pay got a bonus opportunity perhaps so most companies do nowadays and then you might have a long-term incentive plan like equity so you can go she ate all three how far how you know or just leverage one I mean what is that dance start like and what is reasonable because as a candidate you want to start the dance wrong either yeah right so how does that how do you balance that and you gotta go back to what's really most important to you all right what's going to make you happy okay you get all the money in the world made miserable and so not a good equation that's not a joke so get clear on that and keep that front of mind all right and then on compensation Muse now like you got you live you need to make sure your your standard of living is maintained and your okay and I can put yourself in a rough financial spot and then really think of those components what is most important to you I mean I see a lot of people you know hey I really need five K more really you really need five K more I mean you're missing an opportunity maybe ask for it some more equity where that could turn in ten times five K so I think you really got to be thoughtful my personal advice would be always always always take equity or any type of you know wealth generating mechanism a multiplier a multiplier you're foolish not to and you won't win every time and long term but I would I would advise that you know definitely in the world we live in I think that's you know that's at the heart of hardest compensation in these parts though but you got to get clear because you know times they just see things break down and I often a feel are you sure you want to walk away if you said this is the opportunity of a lifetime for you are you sure you want to walk away for for that amount of money right now equity is different in the UK obviously when tax treatment so cash is king on sometimes equity is not really well understood doesn't get the value right so you're gonna have to pull in these different levers and one thing that you and I were chatting about is that every candidate needs to counteroffer like you might throw the first salvo over the table and say here's the jabs ADK here's a 20% bonus boom there you go and you you want to hear that counter crack does every recruiter expect that counter I think a record or at their soul surely does okay and I would I mean on the recruiting side of things I used silence and pauses to really I hate this really make sure we could reason get this solicit the right responses as a kid you know don't be afraid to one be very very very clear use your own pauses I'm not happy with the offer and don't talk whoever talks first loses I know there's nothing and then and they'll probably say okay what do you say I would be really you know always reminds them if you're a deposition I'm excited about the opportunity to work with you you know that component is I'm thrilled about I'm not happy with the offer pause let them look back and tell me without you offering anything that is always the best yeah I mean sort of get over yourself a little bit don't a so Sun Moon and stars be reasonable mm-hmm but you know tell them what one all right and say you know a lot of times you're in a position of leverage there because they're recruited you they want you right I mean they're leaning and making you an offer of employment so you know you always have some some leverage there and you'd be smart about it ask them for what you want you oftentimes you say hey you know we can we can do this I'll sign this right now [Music]