Salary Negoiations For Women Presentation

Negotiations for WomenPresentation

21 IRREFUTABLE PRINCIPLES OF NEGOTIATION

By

Carla Fair-Wright, PMP, CSQE, MCPOptimal Consulting LLC

Introduction

Carla Fair-Wright,

As an ASQ Certified Software Quality Engineer, Carla is the Owner of Optimal Consulting, a software development firm based in Houston. Carla, an award-winning writer, is the chapter author of two books and a former featured writer for Microsoft endorsed CODE Magazine.

Carla is the President of Society of Women Engineers (Houston) and was recently appointed by Major White to the Building and Standards Commission Panel. She is currently producing an educational film to encourage more young women into the Science, Technology, Engineering, and Math (STEM) career path.

Overview• In the ground breaking book, “Women

Don’t Ask”, Linda Babcock and Sara Laschever explain how women have been conditioned in our society to view negotiation as something to be avoided. As women, we need to reframe our concept of negotiation.

• Negotiation is not about winning and losing. It is about collaboration.

21 Irrefutable Principles Of Negotiation • Principle #1 - Career

Create situations that

Benefit you and the company.

21 Irrefutable Principles Of Negotiation • Principle #2

The key is Bargaining power.

Leverage – What is it?

21 Irrefutable Principles Of Negotiation • Principle #3

Your bargaining power reflects the company’s

Experiences with you.

Essentials for succeeding on the job

21 Irrefutable Principles Of Negotiation • Principle #4

The earlier you enter the process, the more

Influence you have.

21 Irrefutable Principles Of Negotiation • Principle #5

Successfully completing a short-

term Project can dramatically improve bargaining power.

21 Irrefutable Principles Of Negotiation • Principle #6

A salary negotiation strategy is being built on four

Cornerstones.

Cornerstone #1 Self-Knowledge and Effective Presentation Cornerstone #2 How the Employer Values the Job.Cornerstone #3 How the Employer Values You in the job skills, culture, and motivation. Cornerstone #4 Know the Market.

Factors that Influence Salary Levels

WAGEMIX

Conditions ofLabor Market

Area WageRates

Cost ofLiving

CollectiveBargaining

LegalRequirements

CompensationPolicy of

Organization

Worth ofJob

Employee’sRelative Worth

Employer’sAbility to Pay

ULTIMATUM GAME INSTRUCTIONSHow the Game Is PlayedTwo players will decide how to divide $10.

Player 1 proposes a division of the $10. At the same time, Player 2 decides the minimum amount he or she

will accept.

The players make their decisions separately, without knowing what the other is doing.

ULTIMATUM GAME INSTRUCTIONS

If Player 2 is willing to accept the amount offered by Player 1, the money will be split according to Player 1’s proposal.

If Player 2 is not willing to accept the amount offered by Player 1, both players will get nothing.

21 Irrefutable Principles Of Negotiation • Principle #7

Establish your priorities.

How will the individual objectives and priorities affect negotiations?

21 Irrefutable Principles Of Negotiation • Principle #8

Be aware of what the employer can offer when negotiating salary.

Factors that Influence Salary Levels

WAGEMIX

Conditions ofLabor Market

Area WageRates

Cost ofLiving

CollectiveBargaining

LegalRequirements

CompensationPolicy of

Organization

Worth ofJob

Employee’sRelative Worth

Employer’sAbility to Pay

21 Irrefutable Principles Of Negotiation • Principle #9

Develop a Winners mentality.

21 Irrefutable Principles Of Negotiation • Principle #10, 11, 12, 13

Do not discuss your salary history.Always negotiate with the decision maker.Assess your power position realistically.Understand that negotiating is expected.

21 Irrefutable Principles Of Negotiation • Principle #14

Study the rules of negotiations

21 Irrefutable Principles Of Negotiation

21 Irrefutable Principles Of Negotiation • Principle #15 P.R.A.C.T.I.C.E. your

responses.Picture what you want to do.

Rehearse SequentiallyAnticipate your worse-case

scenarioCompartmentalize other concernsTransitionImagine what you willCatch and correct errorsEnjoy

21 Irrefutable Principles Of Negotiation • Principle #15 P.R.A.C.T.I.C.E. your

responses.Picture what you want to do.

Rehearse SequentiallyAnticipate your worse-case

scenarioCompartmentalize other concernsTransitionImagine what you willCatch and correct errorsEnjoy

21 Irrefutable Principles Of Negotiation • Principle #15 P.R.A.C.T.I.C.E. your

responses.Picture what you want to do. Rehearse Sequentially

Anticipate your worse-case scenario

Compartmentalize other concernsTransitionImagine what you willCatch and correct errorsEnjoy

21 Irrefutable Principles Of Negotiation • Principle #15 P.R.A.C.T.I.C.E. your

responses.Picture what you want to do. Rehearse SequentiallyAnticipate your worse-case scenario

Compartmentalize other concerns

TransitionImagine what you willCatch and correct errorsEnjoy

21 Irrefutable Principles Of Negotiation • Principle #15 P.R.A.C.T.I.C.E. your

responses.Picture what you want to do. Rehearse SequentiallyAnticipate your worse-case

scenarioCompartmentalize other concerns

TransitionImagine what you willCatch and correct errorsEnjoy

21 Irrefutable Principles Of Negotiation • Principle #15 P.R.A.C.T.I.C.E. your

responses.Picture what you want to do. Rehearse SequentiallyAnticipate your worse-case

scenarioCompartmentalize other concernsTransition

Imagine what you willCatch and correct errorsEnjoy

21 Irrefutable Principles Of Negotiation • Principle #15 P.R.A.C.T.I.C.E. your

responses.Picture what you want to do. Rehearse SequentiallyAnticipate your worse-case

scenarioCompartmentalize other concernsTransitionImagine what you will

Catch and correct errorsEnjoy

21 Irrefutable Principles Of Negotiation • Principle #15 P.R.A.C.T.I.C.E. your

responses.Picture what you want to do. Rehearse SequentiallyAnticipate your worse-case

scenarioCompartmentalize other concernsTransitionImagine what you willCatch and correct errors

Enjoy

21 Irrefutable Principles Of Negotiation • Principle #16

Silence can be golden.

Knowing when to be quiet. It is an Art.

21 Irrefutable Principles Of Negotiation • The Game is:

Shark Tank – Business Owners• You own ABC Plastics, a company that makes plastic widgets from recycled containers.

• You have orders for $35,000 you can not fill.• You need $10,000 to expand your factory to meet the demand.• Your company worth $100,000

Shark Tank - Venture Capital Investors

• The plastics market is about to explode!!• ABC Plastics could be worth 2 Million.

21 Irrefutable Principles Of Negotiation • Principle #17

The offer is too low? Increase your value.

Be a problem solverBe a team playerBe proactive

21 Irrefutable Principles Of Negotiation • Principle #18, 19

18. Knowing When to

Say Yes.

19. Knowing When to

Say No.

21 Irrefutable Principles Of Negotiation • Principle #20

• Don't make assumptions when working through 3rd Parties.

21 Irrefutable Principles Of Negotiation • Principle #21

• Never be the first to name a salary.

Conclusion• Negotiation is win-win• Always negotiate with the decision maker• Develop a winners mentality• Focus inward first

Questions & Answers

Resources• Babcock, Linda and Sara Laschever. Women Don’t Ask:

Negotiation and the Gender Divide. Princeton, NJ: Princeton UP, 2003

• Catapult Program - www.wgfswpa.org/section_activities/catapult.htm

• Ayres, I., & Siegelman, P. (1995). Race and gender discrimination in bargaining for a new car. American Economic Review, 85, 304–321.

• Gerhart, B., & Rynes, S. (1991). Determinants and consequences of salary negotiations by male and female MBA graduates. Journal of Applied Psychology, 76, 256–262.