Money Part Duex

Yesterday morning I received a call from my friend about the outcome of his conversation with his Manager over the proposed salary for his promotion. In a previous blog, I talked about a friend of mine who needed some advice about when and how to talk about salary.

Let me back up a bit and explain how he proceeded. 

My friend, we can call “Chuck” called the Manager the following day and discussed with him his concerns and thoughts on the proposed range of the salary. I think waiting for twenty-four hours after the interview to discuss salary or money, is important because if the Manager is excited about your candidacy, I like them to think about you in their position over the last 24 hours. Nothing ruins a good interview like calling up right after and asking about money, salary, vacation, and benefits. 

 The Manager asked my friend to put  his thoughts down into an email and send them to him. Chuck and I talked and decided that there were three key issues that he needed to address. I advised him to write the email in the following manner.

1. Thank the Manager for the opportunity and reiterate Chuck’s interest in the position.

2. Restate that the Manager wanted him to write his concerns in an email.

3. State with quantifiable facts for his 3 concerns and be very concise.

4. Talk about the opportunity and thank the Manager for taking the time to listen to his concerns.

(Side note: one of the reasons I left my previous company to come to MATRIX was the way they handled my and my wifes concern about the new opportunity.  Concerns can be a huge win win if handled properly.)

Tha Manager emailed the reply and went through each concern and qualified each one. In the end, the company chose not to negotiate the salary but the Manager did state that he thought that Chuck had handled himself well and thought even better about bringing him onto the team.

That sounds like a win to me.

I did receive some great negotiation steps after my last blog post. Here are some helpful and simple steps from Jennifer Kushell, President of www.youngandsuccessful.com “In any negotiation, think in terms of stages: courting, conceptualizing relationship, key deal terms, papering deal, tweaking” for simple yet effective advice.

Great advice Jennifer.  Thanks.

Let me know if anyone else has some other thoughts. Good luck.

Matt Cheek

How do I ask for the Money?

Recently a very good friend of mine interviewed for an internal position with his company. He called me shortly after the interview and said he was verbally all but offered the job. He was excited about the promotion but when the Director mentioned the change in salary, my friend was disappointed as he was looking for a higher rate of increase.  When we discussed the salary range offered,  the salary being mentioned was on the bottom of the range  and he felt he was being undervalued.

He  had decided  he was going to negotiate but wait until after the offer was made. I quickly advised him to negotiate before any offer was extended.

Ideally when an offer is made you should already know at what rate the offer is going to made or at least fairly close. You will want to have a firm understand of their ability/range to make an offer and they want to  know your salary expectations.  That will insure a high rate of success for the offer to be received favorably and then accepted. Knowing the salary facts applies to both candidates and hiring people.  I never like to guess.  Before the formal offer is extended you can have a conversation and talk about your recent salary history and expectations without you sounding like a money grubber. After the offer is presented and negotiations have begun there are battle lines being drown as the tone tends to get more serious.

As an Account Executive at Matrix I like to have conversations with my clients all the way up to the offer. I have found people are more receptive to listen and talk with an open mind before everything is set in stone.  I like to get the candidates to agree in principle to a salary and the hiring manager’s to agree hopefully to the same number.

Let me list why negotiations after the offer has been presented is less likely to be changed.

1. Affectively when you look to negotiate after an offer is made you are effectively turning down one offer in the hope for another offer. Once you get into this area the client can do three things.

A. Pull the offer – I have seen it happen

B. Decline negotiations – The offer is what it is

C. Negotiate – but at what costs

2. I see some clients that feel some rejection upon a start for negotiations after they have worked hard for an offer. Hiring Managers are emotional involved in the process. You never want to start a position off on the wrong foot. 

3. Many people have touched the offer to get it to you.  The Manager tells the Director she has found the right candidate, you.  The Director talks to the VP and gets the okay. The  Director tells the Manager to get with HR and get an offer together. The Manager and the HR rep get together to discuss the offer then the HR rep sends it to the VP to get it signed off on.  Finally the HR Rep sends it to the Manager so she can get it to you. The Manager has to go through the entire process again if there are negotiations after the offer.

I am a big fan that if you like the position and opportunity then you can have a discussion before the offer is made. At all times remember to focus on the job not the salary.

I like to say something  like this. ” I want you to know that I am very interested in the position. I can see my self working at (company name) with you and your team. I am interested in moving forward in the process. What is the next step?”

Hiring Manager “We need to get together with my Director and HR and put together an offer.”

Me ” That is great news. I am really excited about the possibility of working with you. Should I expect a call from HR to discuss the benefits, salary? Or is it fine to discuss it with you?”

I opened the door very casually about the salary and benefits.

Your discussion may not change the offer but it can’t hurt to have a discussion before the actual offer is made so the respective parties can be on the same page. Always focus on the career and opportunity and you will be able to have a chance to communicate your thoughts effectively and openly.

Good Luck

Matt Cheek

Life is like a bungee cord.

Like most high school teenagers during the summer, I looked for ways to earn extra money. I worked a cabinet shop and learned the value of shutting saws down before placing a hand on one, I worked concert security and enjoyed the pre-show rehearsal of some great bands (the one-armed drummer for Def Leppard is awesome!), and the most interesting job I had during my high school summers was as a Jump Master at a bungee jumping tower.

The tower was a metal structure that grew 90 feet in the air. To reach the jumping platform you had to climb the hundred, or so, steps to reach the top of the four jump platforms. Once you reached the top, the flooring was a metal mesh grating that allowed those on top of the platform to view the ground 90 feet below. It was a very intimidating sight the first time on top and many people refused to look down. I saw all kinds of people jump from a brave 5 year-old who jumped 5 times, to large tough men who screamed like 5 year-olds when they jumped!!

One of the most interesting things about bungee cords are that they are not large individual cords. The bungee cords are millions of small elastic bands weaved together around longer strands. Each band is weaved, for strength and elasticity, such that if the individual band is stressed to the point of breaking and some of the bands actually break, you are in no danger of falling. You can lose thousands of bands before any potential danger occurs. We would take the two broken ends and tie them back together at the end of everyday. It would not be unusual to have 30-40 bands broken each night after the jumps. We were required to inspect each cord and document what we had done to make it “jump ready” the following day.

Depending on the weight of the person, we had five different cords to use. I usually jumped on a #4 cord that allowed good bounce and stretch and was appropriate for my weight. A few times, I used a #5 cord but the strength was too strong and would not allow for flips and I had a decreased range of motion. The other cords we not sufficient for my weight.

As we go through life, we add another layer of elastic bands that help strengthen the impact from a our choices. We are a combination of all the activities, thoughts, trials, tribulations, opportunities and choices that are weaved together to make us who we are today. Throughout our lives we have the opportunity to experience LIFE at its fullest and every experience is worthwhile and can add to our bands if we learn from it. 

There are times that we have to sit back at the end of the day and tie a few strings together that broke during the day. Tomorrow we jump again, so we need to have our cords tied and ready to perform. If we neglect our cord and it really starts to look ragged and not functioning properly, we can get caught unprepared for a major trial or fall.

So the next time you experience the trial of losing a job or blowing the interview, or experience the blessing of a new birth in the family, remember your cords, your lifelines, and be ready make sure they are ready to keep you from falling too hard. At the end of the day, take a few minutes and look at your cords, then tie broken bands back together and make yourself stronger for the following day and go ENJOY THE JUMP.

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