LSBF Salary Negotiation Talk
December 07, 2018
How do we negotiate salary after receiving a job offer? What is the best way to negotiate salary? These are daunting thoughts for the uninitiated. Getting a job offer is not easy, and to further discuss such a sensitive topic like salary can be a real challenge! Negotiation is simply facilitating a conversation and backing it up with evidence. Just last week, we gave a talk on the topic of Salary Negotiation to the postgraduate students at the London School of Business and Finance (LSBF).
We outlined the process with 5 practical steps. Firstly, we dived into the basics of how HR professionals determined compensation within the company and that is through understanding internal, external and individual equity. Students were guided on how they can conduct searches on the salary scales for the roles which they are interested in from several useful websites. Next, we also covered pre-negotiation analysis with mini case studies and it was interesting to hear from the students of different nationalities and specializations on what they went through while deciding between offers.
One key aspect of salary negotiation is to understand the negotiator and to understand themselves too! We discussed the behaviors of different personality traits and the techniques used to manage communication. We then transitioned into the negotiation process and touched on how to deal with offers for specific situations. Additionally, we discussed on transitioning out of a current employment and shared common mistakes in salary negotiation.
With a better picture of the market salary range against their personal salary range, students can know their worth and how much they should expect to be paid for their position. We were thrilled to have such an interactive group of students and to answer all the interesting questions. We wish the students all the best in their next salary negotiation! Thank you LSBF for having us and see you next year!
We outlined the process with 5 practical steps. Firstly, we dived into the basics of how HR professionals determined compensation within the company and that is through understanding internal, external and individual equity. Students were guided on how they can conduct searches on the salary scales for the roles which they are interested in from several useful websites. Next, we also covered pre-negotiation analysis with mini case studies and it was interesting to hear from the students of different nationalities and specializations on what they went through while deciding between offers.
One key aspect of salary negotiation is to understand the negotiator and to understand themselves too! We discussed the behaviors of different personality traits and the techniques used to manage communication. We then transitioned into the negotiation process and touched on how to deal with offers for specific situations. Additionally, we discussed on transitioning out of a current employment and shared common mistakes in salary negotiation.
With a better picture of the market salary range against their personal salary range, students can know their worth and how much they should expect to be paid for their position. We were thrilled to have such an interactive group of students and to answer all the interesting questions. We wish the students all the best in their next salary negotiation! Thank you LSBF for having us and see you next year!
Topic(s): Career Advice
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