By Jeff Altman, The Big Game Hunter

Jeff Altman, The Big Game Hunter offers a simple strategy for responding to a job offer lower than what you are looking for.

The Top 10 Salary Negotiation Mistakes

Today, we’re going to take a salary negotiation scenario out of, “Shark Tank,” the ABC series where entrepreneurs come to pitch product ideas to five potential investors. Here is the classic scenario on the show: one offers to purchase more stock for the same money being asked for by the entrepreneur. So, let’s say,

 an entrepreneur walks in and says, “I want $500,000 for a 5% share of my firm,” one of the sharks will counter and propose that they give $500,000 for a 25% share of the firm. In job hunting, a similar scenario occurs when you ask for a particular salary and they offer a lesser amount to you.

You have a number of different ways of responding when you receive a lower offer than what you’re looking for. However, before I start describing how you can respond, I want to remind you of the quote from the old movie, “The Godfather.” The line from the movie is, “It’s business. It isn’t personal. “Don’t respond indignantly to their offer; start by reselling your capabilities to them. After all, for them, it may have been a long job search to find you and they may have forgotten some of your value along the way.

If that doesn’t work, the usual advice people get is to say that you want to think about it. However, like on the show, people often want to “think about it” longer than the firm is willing to allow them to do so. The offer was rescinded. In much the same way as on, “Shark Tank,” even the request can be met with the offer being withdrawn.

Instead of asking to think about it, you can come back with a counteroffer. Let’s say, you are looking for $150,000 and they extended an offer for $140,000. “I think this is a great opportunity in I’m willing to be flexible but I would like you to show some flexibility, as well. I would accept this offer at $147,500.” They may respond by telling you they can go that high and counter-propose for $142000 – $144000 or something else. Whatever it is, you moved them up from their original offer. That’s the game plan – – to move them up from their original offer by expressing and showing your flexibility to them.

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