I'm curious to see if any negotiation pros can well me how they would handle this situation: You've had really positive on-site interviews with companies 1,2,3....n and you're expecting to be at the top of the pay band for your level. Based on your research, Company 1 can offer up to X, but companies 2...n can only go up to 0.7X. In this situation, how could you get Company 1 to offer X. You know Company 1 can offer X, and you have multiple competing offers, but none are close to X. Assume we don't have time to try get an offer from any other company.
No one I know was asked proof of numbers. While it's not ideal, you could definitely inflate a little and tell company 1 that you are looking for 1.25X, hoping they settle around 1.15X
Yup, this is the approach I am currently favouring. Asking for 1.25X and not even mentioning the value of the other offers. Only downside I can think of is that X is really their max and asking for 1.25X could put them off
Companies say no, we can't match, but never walk away. In the really worst case scenario, you either accept the 1X offer or just decline, find a better one.
Mention the other offers value even if its lower to increase your desirability. You can say something like one of them has verbally offered to do an extra bump up to 0.9x even if you only have written proof of 0.7x and can company 1 beat or match that. This is safer than asking 1.25x at company 1, cause company 1 probably has some idea they are paying above market and you look silly if you ask 25% more already. Company 1 is more likely to know they pay above market, than they know about the comp philosophies of companys 2, or 3 paying below market, which is something you are taking advantage of here. Also during nego you can: 1) Remove something you don’t care about to make the case for something you really do care about (ie less signon, more stocks to show you care about the company’s future) 2) Near the end of nego if you sense more headroom, say this is really great and I’ll sign guaranteed if you can get this extra 5% here or there Best of luck
Thanks for the advice, really appreciate it. Saying I have a verbal offer for 0.9X sounds like a good plan.
Maybe this is a separate question for a different post, but I know it's not a good idea to give a company the value of any other offers before I get their offer (don't give them a number first). But if I've already told them I'm getting other offers, and they ask what those offers are, what should I say?
Bluff the numbers you have...? There’s a chance they walk away. With great risk comes great reward
I would really rather them not walk away though! At the very least they're offering more than the rest, and they're the place I want to work at.
Always be willing to walk away. If you aren't - very unlikely that you will get what you want.