Negotiating a Raise: Advice from a Pro

the economy is tough right now but there are employees out there receiving raises want to be one of them then you'll want to hear what professional deal maker Donald Dell has to say as a sports lawyer and agent he's negotiated deals for superstars like Michael Jordan and Andy Roddick he's also the author of a new book called never make the first offer except when you should thanks for joining us Donald Thank You Jill so you drive bargains for a living can anyone learn to be a good or at least a better negotiator well I think there's some things you can learn how to present yourself and how to listen to different offers and I think you can learn from others I think that the biggest business decision negotiation that most people encounter would be their own salaries sure let's talk about some more specific pieces of advice you have so you say do not walk into your boss's office and say I really want X percent today or else what is the what's the view behind that piece of advice well like the title says never make the first offer I mean I would much rather if the walk into your boss and suggest can we talk about my my financial situation my salary situation and what do you think I'm worth to the company and let him make the first offer the reason you do that is not so much what the offer is but you learn things you learn what he's thinking is he is he really in favor of doing something how much in favor is in favor of increasing it substantially or very small does he does he like you does he dislike you you get a lot in that answer what he comes back with so this is really part of the information gathering and and that's important because you also talk about learn kind of read your boss how to read the organization what are you looking for they're not just the numbers what do you what else you looking for well I think you know for example if you're doing a serious negotiation you don't want to do it on the telephone or by email because that's so impersonal and you get no opportunity to talk with or see or evaluate the person you're dealing with and that's to me very very Orton as you say in reading the person is he a casual guy is he a serious guy is he happy is he mad that particular moment what are his interests how does he you can pretty well see you in many cases whether the guy you're negotiating with likes you or doesn't like her maybe he's neutral about you you can't read that from a phone call unless he says something that is clear so I'd much rather be sitting there looking at him talking with him and listening you want to really remember you never learn anything when you're talking you only learn when you're listening and listening is very important in these kind of negotiations how can we help people when they walk in to their boss or to their supervisor get over that anxiety I think if you can you want to come in and try to be natural and relaxed which is very hard sometimes so how do you try to get to that stage I think one thing you can always do is ask the person you're talking with about his family or his children everybody wants to talk about their children in one stage or another so if you're hard up for something to talk about or you're nervous and you want to relax you want to relax him so you ask him you know how are your children doing and know before you go in there whether he has shoulders right that that leads to a more natural conversation which is really what you're trying to do to begin with what happens if it gets contentious I mean really with the boss says something that torques you off that you just get really upset does it pounding the table ever get your oh I don't think pounding the table gains you anything I think it loses you because it shows the other side a certain thing about yourself emotional or what you really are dying to have or get the first rule in any negotiation even if it's for a used car or if it's for a salary the first rule and the hardest rule is to be able to walk away from it others to say thanks but no thanks so let's say you get in an argument your boss and he says we can't give you a raise except 1% because we're not making any money and you think 5% I'm making up the example 5% fair in my opinion if that were to occur I think you try to say to him then look I think it's probably a bad time we're not going to reach an agreement let's talk in a month now that really what does that do that unnerves the other side it sends a message that you don't have to make the deal right now and it really puts you in a stronger position when you get back to negotiating there's something else that you advise which I always think about not just in negotiation but of course in my own life that you really should have a plan B well a plan B let's go back to your example of a salary increase if you had two other offers or two other people you thought wanted to hire you you're going to feel a lot differently when you're sitting there talking to your boss so anything you can do to ascertain what other choices you might have strengthens your hand considerably and gives you a lot of mental confidence I really thank you for this advice for CBS moneywatch.com I'm Jill Schlesinger thanks for watching

Channel: moneywatch

Views: 156,035

Keywords: Rejection, MoneyWatch, Donald Dell, Jill Schlesinger, Andy Roddick, Michael Jordan, raise, boss, salary

Id: Wp21VmpQKEY

Length: 5min 20sec (320 seconds)

Published: Wed Nov 04 2009