Once you and the PE agree on an acceptable figure, you should confirm the offer: "Let me see if I understand the offer correctly. Annual salary will be at $X with the following fringe benefits..." Write it all down in your notebook. Tell the PE you would like a couple of days to consider the offer and will let him know by a specific date. This will allow you to conclude the interview with an offer in your pocket. A PE will rarely withdraw an offer, and in the interval you can reconsider all aspects of the job and wait for additional offers to mature. Of course, if you are completely satisfied, and you've been looking a long time, you can accept on the spot. Just don't make it sound too easy.
Many PEs prefer not to make an offer right away. Others may delay so that they can consider additional candidates. If your PE does not make an offer during the interview, remind the PE of your mythical offer at $X. Ask him to contact you by a specific day within a week. If you do not retain control over the hiring situation, you may find yourself on a string until the PE finds someone else. You must not allow this to happen. Maintain a sense of urgency by letting the PE know that he is in competition for your services and must act quickly.
If you are unemployed, your positive mental attitude and mental techniques are especially valuable. Clearly, your negotiating position would be stronger if you were employed and not dependent on finding a job. However, you can make your negotiating position appear just as strong or stronger by convincing the PE that you have another offer at a competitive salary.
If salary discussions are postponed and you receive an offer by phone, use the techniques to conclude negotiations. You may also receive an offer by mail. If it isn't satisfactory, you can open negotiations by calling and asking for another interview; should distance make this impossible, you can negotiate by telephone.
How to Negotiate with Several PEs Simultaneously
If you have several offers going at the same time, you are in an ideal position. Don't hesitate to play one PE against the other, as long as you maintain your dignity, do not become arrogant, and do not actually accept an offer. Once you accept an offer, you should shut off all negotiations.
Sometimes after a job candidate has accepted one offer, another PE will counter with an offer that is significantly higher. The lesson here is that there is a lot of room for negotiation before accepting a salary offer. For example, Larry L. had a successful interview and was told he would receive an offer by mail. Larry understood that the offer would be approximately $30,000 a year. $30,000 was Larry's salary goal, so he was pretty happy. The next day Larry had an interview with another firm and received an on-the-spot offer of $35,000.
After thinking things through, Larry decided to accept the second offer, since it met his salary objective and offered other advantages. In the meantime he received an offer from the first PE in the mail, at $30,000 as expected. Larry called the second PE and accepted that offer. He then called the first PE to let him know. The PE immediately countered by offering $40,000.
If you accept one offer and afterward receive a significantly better deal from someone else, you've got a decision to make. If one offer is really that much better, few PEs will stand in your way. However, many (I am one) feel that once you accept, that's it. Negotiations are over. If you get a better offer afterwards, too bad. You should have kept negotiating. However, I'm not going to judge you if you want the higher offer after having accepted a lower one. Tell the PE who made the "significantly better" offer that your acceptance (if that is your decision) is contingent on being released from your previous obligation.
Where the Higher Salaries Are
As a rule, larger companies can afford to pay the highest salaries. However, such companies may be more rigid than smaller firms in negotiating salary and fringe benefits. Smaller companies may offer very competitive salaries when they need a candidate's services immediately. Salary policies can vary widely, so never take a particularly low salary offer as a personal insult or as a final figure. Try to negotiate an acceptable figure; if you can't, move on.
To negotiate the highest salary possible, always be pleasant and courteous and maintain a positive mental attitude. If you research salary carefully and use the other techniques described in this chapter, you will be able to negotiate a great salary in line with your great job.
