Professor Wheeler Offers ECs Tips for Negotiating Offers
Jayne Chng (OH), News Editor
Issue date: 12/4/06 Section: News
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The letter has arrived in the mail. You distinguish it immediately from the run-of-the-mill bills and bank statements which usually clutter the mailbox. It feels heavy, the envelope is of good quality, and everything about it screams professionalism. This is it. After months of tortuous interview practices and weeks of dragging yourself from interview to interview mouthing the same inane few things about why you love banking/consulting/fill in the blank, you have reached the end of the tunnel. You have the job offer in your hand, irrevocable and secure.
If you thought the job hunting process has ended, chances are that you have not thought about the terms of your offer. Are the terms what you expected them to be? What can you negotiate and what should be left well alone? Professor Wheeler, who teaches an EC class in Advanced Negotiation, spent an hour last Tuesday reviewing the basics of negotiation and answering questions from ECs looking to improve on their offers. While he acknowledges that it has been years since he has had to negotiate a job offer himself, nonetheless he is keen for ECs to have thought through some of the issues before plunging into actual negotiations
Of the seven key elements of negotiation-interests, alternatives, options, legitimacy, commitments, relationship and communication, Prof Wheeler believes that the most important may be interests. "Unless one knows exactly what one's interests are, negotiating will be useless no matter how skillful a negotiator one may be," he stressed. Interests may range from the basic compensation package to bonuses, location and job description. He urged students to invest time in thinking through exactly what we want and construct a matrix of our interests as mapped against our alternatives.
Prof Wheeler also touched on the importance of understanding the other side as much as possible. "Ask questions," he urged, "don't be afraid of betraying ignorance or fear." He continued, "Listen deeply, not only about what is being said but how it is said. Watch for nonverbal cues." He also suggested 'going to the balcony', taking a helicopter view once in a way to see where the conversation is going so you can plan your next move without being too caught up in the immediate details in front of you.
If you thought the job hunting process has ended, chances are that you have not thought about the terms of your offer. Are the terms what you expected them to be? What can you negotiate and what should be left well alone? Professor Wheeler, who teaches an EC class in Advanced Negotiation, spent an hour last Tuesday reviewing the basics of negotiation and answering questions from ECs looking to improve on their offers. While he acknowledges that it has been years since he has had to negotiate a job offer himself, nonetheless he is keen for ECs to have thought through some of the issues before plunging into actual negotiations
Of the seven key elements of negotiation-interests, alternatives, options, legitimacy, commitments, relationship and communication, Prof Wheeler believes that the most important may be interests. "Unless one knows exactly what one's interests are, negotiating will be useless no matter how skillful a negotiator one may be," he stressed. Interests may range from the basic compensation package to bonuses, location and job description. He urged students to invest time in thinking through exactly what we want and construct a matrix of our interests as mapped against our alternatives.
Prof Wheeler also touched on the importance of understanding the other side as much as possible. "Ask questions," he urged, "don't be afraid of betraying ignorance or fear." He continued, "Listen deeply, not only about what is being said but how it is said. Watch for nonverbal cues." He also suggested 'going to the balcony', taking a helicopter view once in a way to see where the conversation is going so you can plan your next move without being too caught up in the immediate details in front of you.
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