Wall Street Oasis logo


  • Recent
    • All Recent Content
    • Top WSO Bloggers
    • WSO Chat Room
    • Hot Topics - Week
    • Hot Topics - Month
    • Hot Topics - Year
    • Hot Topics - All Time
    • Top Comments - All Time
  • FAQs
    • Best Interviews
    • Common Questions
    • Industry Specific
    • WSO 101
    • Education
    • Recruiting
    • Life in Finance
    • WSO Company Database
    • WSO Finance Dictionary
  • Forums
    • Post Forum Topic
    • Best Comments
    • WSO Chat Room
    • Job Search Advice
    • Investment Banking
    • Private Equity
    • Venture Capital
    • Trading
    • Consulting
    • Hedge Funds
    • Corporate Finance
    • Real Estate Finance
    • Equity Research
    • Asset Management
    • WSO Success Stories
    • Other Careers
    • Business School
    • Resume Forum
    • Wall St. Fashion
    • New User Intros
    • Monkey Around
    • WSO Products
    • Site Suggestions
  • Groups
    • Browse Groups
    • Create Group
    • My Groups
    • Non Target Networking
    • Energy Trading
    • State your salary
    • Read the Footnotes
    • Proprietary Traders
    • WSO Investment Forum
    • CFA
    • The Restructuring Group
    • Economics
    • RE Finance/Investments
  • About
    • About WSO
    • Press
    • Contact Us
    • RSS Sitemap
    • Advertise on WSO
    • WSO Discounts
    • WSO Store
  • Login
  • Sign Up!
  • Hot Topics
  • My Profile
  • Company Research
  • Modeling
  • Resume Review
  • Events
  • Interview Guides
  • Job Board
  • Intern Positions

6 Free Financial Modeling Lessons...and More.

Enter your e-mail below to get our Free Tutorials.

negotiating
 

Simple but helpful negotiation advice

David Aames's picture
David Aames
      O
 
(Baboon, 141
 
Points)
 on 5/14/13 at 10:07pm
adam carolla.jpg

Good story from Adam Carolla about negotiating with his radio station kroq in the early days of loveline.

tl;dr version: Adam asked for his salary to be doubled. Because he was realistic about his value he knew his company was undervaluing him, and he knew there was a piece of pie there for him.

I'll paraphrase what he said, important points in bold

To his boss: [quote]"I need my money doubled or i'm leaving, nothing personal, just not worth it for me to be here"
-don't make threats, just need to explain to them what's going on

"i like you guys, i like working here, BUT for the amount you're paying me, it's just not worth it"

So I told them you must double my salary or i won't be returning

  •  
  • 3
     

How to negotiate with liars - 5 Steps (part 2)

Mr. X's picture
Mr. X
      CF
 
(Senior Monkey, 68
 
Points)
 on 11/27/12 at 9:38pm
Pinocchio_Lying.jpg

Fellow primates, today I wanted to share a few more insights from Professors Malhotra and Bazerman on negotiating with people who lie. In my last blog post, I introduced the topic and shared some insights on what one can do before the negotiation process to limit the other party’s temptation to lie.

Since lying is such an interesting concept (let’s face it, everyone does it), I wanted to build on the last post and share some things that one can utilize during the process to ensure better decision making during negotiations.

Strategy 1: Gather information from multiple sources

  •  
  •  
  • 1
     

How to negotiate with liars - 4 Steps

Mr. X's picture
Mr. X
      CF
 
(Senior Monkey, 68
 
Points)
 on 11/27/12 at 1:00am
lying-main_full1.jpg

Fellow monkeys, in my last blog post, I discussed my inability to negotiate things for myself and how I went on to rectify this short coming by reading some books (mainly Negotiation Genius) on the topic.

Many of you said that the advice that Professors Malhotra and Bazerman give on negotiating was very academic and too complex to be properly utilized in the real world. While I agree with you guys on that point, I think there is still some value to be had when one looks at negotiations from a theoretical standpoint and has some framework to go by when involved in a negotiation.

  •  
  •  
  • 7
     

What to do Before Negotiating - 5 Steps

Mr. X's picture
Mr. X
      CF
 
(Senior Monkey, 68
 
Points)
 on 11/13/12 at 9:00pm
negotiating.jpg

A couple of months ago, I had an epiphany. I absolutely sucked at negotiating things for myself. It seemed like every time I was involved in a negotiation, I always came out as the loser. To make matters worse, I discovered that when I was involved in a negotiation with an incredibly hot girl, I would doubly screw the pooch.

To remedy this problem I began reading books on negotiating during my free time. That’s when I came across Negotiation Genius by Deepak Malhotra and Max Bazerman. What I discovered was that a lot of my misfortunes were due to a lack of real preparation. According to the authors, most people make their costliest mistakes before the parties’ even get together to talk. They go on to say that if one considers the negotiating process as an art form rather than a science, they will not properly prepare and be ill equipped when they try to strike a good deal for themselves.

To help people prepare for a negotiation, the authors present a five step frame work that I want to share with you guys today and get your opinions on.

Step 1: Assessing your best alternative to negotiated agreement (BATNA)

  •  
  •  
  • 13
     

Negotiating pay for rotational program offer

collegekid89's picture
collegekid89
     
 
(Baboon, 150
 
Points)
 on 11/7/12 at 8:56pm

I recently got an offer to join a rotational program class at a financial firm for a few years.

The base pay is 55k with a small signing bonus. However, I have been out of school and working for a year. HR told me I have 2 weeks to let them know. Should I call them and ask for 60-65 since I have been working and am not a new hire like the other kids that will be in the program? Or should I shut my mouth and take the offer.

  • 15
     

Salary question

dutchmiracle's picture
dutchmiracle
     
 
(Monkey, 40
 
Points)
 on 11/6/12 at 3:13am

I have been in the application process for a major company and gone through some of their rounds. I am at the point now where they do ask me to disclose my salary. However, my salary right now is pretty low and I dont want: 1.) Them to think I am not good because I dont earn much, 2.) Give them the idea they can pay me less than other people just because I dont earn much now. I dont want to be annoying by not disclosing this information, but actually I think it is none of their business, so what should I do? I REALLY WANT THE JOB. Another consideration/idea I have is that I wonder if they will ever really ask for documentation, as in salary overviews or whatever!

  •  
  • 4
     

Intimidated by attractive female co-workers/clients

everyman's picture
everyman
      EN
 
(Senior Monkey, 84
 
Points)
 on 9/26/12 at 6:48pm
hot coworker.jpg

edit: see my comments below before commenting, i've clarified things a bit

In our business I regularly meet with women clients. The more attractive they are (combined with intelligence), naturally the more nervous I get, and the harder it is for me to negotiate and work with them.

Ugly Betty - No affect at all, looks aren't a factor at all in the process, and I can proceed like normal.

Hot/smart? She'll get more sway in whatever it is we're negotiating over.

So question is, how do I improve on this?

How do you deal working with hot coworkers? Do you feel intimidated by them or do you prefer working with them?

  •  
  • 29
     

--

WSO_demo's picture
WSO_demo
      IB
 
(Senior Chimp, 19
 
Points)
 on 9/2/11 at 11:58am

--

  • 4
     

Advice on negotiating

Maherj1's picture
Maherj1
      O
 
(Baboon, 165
 
Points)
 on 5/9/11 at 2:12pm

After months of trying I have finally received a job offer. The offer is for TS with one of the big four.

This is the position I applied for but during the interview the partner mentioned there was positions available in the financial modelling area if I was interested.

Naturally I would be much more interested in the financial modelling area so I am wondering how to proceed.

I got a call about an hour ago from HR confirming the job but she said it was for TS and made no mention of FM. I couldnt really talk so she said she would call tomorrow to fully discuss things.

Now my Q is should I make a big push for this or leave it? Would it be worth trying to contact the partner?

  •  
  • 2
     

Negotiating Tactics

secretariat's picture
secretariat
      HF
 
(Monkey, 64
 
Points)
 on 1/1/11 at 1:13pm

Now I know this may not be too relevant for juniors at large banks or consulting firms, but for those of us working at small buyside firms I think a thread devoted to negotiating tactics could be helpful. I personally just accepted a performance bonus about 1/5 of what I expected/deserved, and that was AFTER I negotiated it up. Fortunately my 2011 pay will be structured on a firm P&L contract.

I have wondered over the past few weeks what I might have done differently to secure a better outcome, and I would love to hear from the veterans on this board about the best tactics for negotiation -- stuff thats worked in the past or just stuff that sounds like it might work.

Lets make 2011 the year we play hardball and stick it to the man.

  • 2
     

Negotiations

Status_Quo's picture
Status_Quo
     
 
(Senior Gorilla, 944
 
Points)
 on 8/28/10 at 8:43pm

Anyone read good books, taken enlightening classes, or seen insightful lectures on negotiating? It's become a topic of interest for me lately and I'd like to hear from anyone with recommendations.

  • 3
     

Negotiating Offer for First Year Analyst

iforgetok's picture
iforgetok
      CO
 
(Monkey, 40
 
Points)
 on 11/5/08 at 2:33pm

Great! So I just got an offer at a top consultancy.

So how do you approach negotiating the offer? I've heard that the annual salary is non-negotiable, but the signing bonus is. Also, does this bonus include relocation? Is there a maximum amount? or a good range to negotiate in between?

So, how should I approach the negotiation? or should I flat out not even think about it?

Additionally, what should I think about/ask when reviewing the offer? For current consultants, is there something you recommend I ask or request?

some details:
base = 65,000
bonus = 10,000
I will be working in the same city that my university is in.

Thanks to all!

  • 9
     

Forum Topics

  • New
  • Active
  • Rank
  • Comments
  • So I got an offer from a boutique consulting firm. It mainly does project management for a number of F500 tech companies. It starts in august. What I originally wanted was to work in AM but I couldn't get an offer. Any ideas about how I should go about getting a job in finance? I have a few...
    Graduating senior, need a finance job! MSF?
  • I'm interested in hearing from people who have received full or partial scholarships to schools and what their stats are. Currently I'm ~690 gmat , 4.0 gpa and I'm looking at vandy, ut austin, villanova, and duke Thanks to anyone who can help post some public...
    Can anyone share anecdotal MSF scholly stats?
  • Hey Monkeys, I'll be moving to London for work later this year - my office is in Hammersmith. For the sake of convenience for work, I've considered living in Hammersmith (near the tube station). For those of you who live or have lived in London - what are your thoughts on choosing...
    Working in London (Hammersmith) - suggestions on where to live?
  • My overall gpa will prob be a 3.7/4.0 and I go to a UCLA/USC/Berkeley. Think I still have a good chance for SA recruiting?...
    Got a B in corporate finance...
  • For better or for worse, there’s a very unique feeling when everything goes completely according to plan yet nobody seems to care or notice. Such is the case with our favorite company of the moment, Tesla Motors. For those unaware, TSLA has rocketed upwards since its Q1 earnings release, mostly...
    A Perfect Storm
  • Allow us to search by...
    Suggestion for company database
  • Hi guys, I am a small Asian guy (5'7'') and as I am looking for dresses for my summer internship I got into trouble finding the shirts and pants that fit me. For example there were no shirts with 30 inch long sleeves ( the smallest one was 32). Desprerately enough I looked at...
    Dress for small guys
  • Are brand name glasses too fashionable for banking? How bout the thicker framed glasses? I was thinking of getting something along the lines...
    Prescription Glasses
  • Hello, I am just looking for some opinions on Economics degrees, that is my major and I would like to know how Financial and Accounting firms and departments (in companies) view this degree. Please share what you think or your experience. Non target school and mediocre GPA...
    Economics major
  • Hello fellow monkeys. A few weeks ago I was admitted, and have now formally accepted my transfer admission from a community college into UCLA's Business Economics program for this fall. I've started thumbing through the catalog of courses for my major (and a potential minor in accounting)...
    UCLA Biz Econ Reviews?
  • With the great acceleration of WSO Certified Users has come an awesome collection of interviews, general Q&As and AMAs that we have compiled into 1 place. If you hover over the FAQ menu above and click "Best Interviews", you will find an awesome array of Q&As from some of WSOs...
    Best Q&As and Interviews on WSO
  • Can anyone chime in on working this...
    Piper Jaffray Public Finance?
  • I went to a career event at my school and a senior manager at a consulting firm was speaking there. We talked for a bit after and he gave me his business card. I'm looking for a summer internship - how do I make use of this card? Also, do large firms/companies ever hire interns unofficially...
    Got a business card at a school event - how to ask for an internship?
  • Hey guys, So I am very new to this....I know about the CFA and the CPA , but I recently read something about some ''series'' exams, such as series 7 and what not, and it sounds like taking and passing those would be easier and cheaper for someone with no background in...
    Series....series... 1, 2 3, 6, 9, damn you are fine
more

Upcoming Events

  • Advanced M&A Accounting & Tax Topics Webcast (Live)
    May 21 2013 - 6:00pm - 9:00pm
  • Boston WSO Happy Hour - Wed May 22nd, 6PM
    May 22 2013 - 6:00pm - 8:00pm
  • Financial and Valuation Modeling Boot Camp (Dallas)
    May 23 2013 - 8:00am - May 25 2013 - 5:00pm
  • Shanghai Happy Hour May 24th Friday 7:30PM - 10:30PM
    May 24 2013 - 7:30am - 10:30am
  • Hong Kong Networking Event - Happy Hour, May 24th, 7:30PM
    May 24 2013 - 7:30pm - 9:30pm
more

Highest Ranked Content

  • Week
  • Month
  • Year
  • All Time
  • Comments
I used to work with a guy that had everything on the surface, but absolutely nothing inside. The guy was 6 feet tall, good-looking, charismatic, multi-lingual, graduated from a top business school, and had made MD at a bulge bracket investment bank. Yet he couldn’t remember the last time he...
How to Develop a Personality
<em>Mod note (Andy): we vetted this user to confirm his identity/status and yes in fact he is who he says he is, and is eager to answer your questions :)</em> Bio: I decided to join WSO to help both students and young professionals advance in their Finance careers, whether that be...
I'm an MD and I run the Sales division: Ask Me Anything
For better or for worse, there’s a very unique feeling when everything goes completely according to plan yet nobody seems to care or notice. Such is the case with our favorite company of the moment, Tesla Motors. For those unaware, TSLA has rocketed upwards since its Q1 earnings release,...
A Perfect Storm
I'm currently a Private Equity Analyst in Shanghai, China. Academically, I graduated from a target school majoring in Economics and Chinese. I also spent my time at college as the president of an on-campus student organization related to Finance and Economics and a volunteer for a local...
Ask me anything… I'm a Private Equity Analyst in Shanghai
You've just gotten that promotion and now you're in charge of a small team. Congratulations! And welcome to middle management. All the hard work and the knowledge you've developed about everything your firm does these past few years has been noticed. But, now you have a small...
7 Things I've Learned About Being A Manager
Assuming that you have access to no financial products such as FactSet, Bloomberg, CapitalIQ, Thomson or otherwise, thought it would be helpful to give a step by step guide on how to ramp up on a new company from your home computer. Using FaceBook as an example. Lets go ahead and start with the...
Basic Guide Ramping Up On A Company With Public Information (Part 1 of 3)
Fellow Primates, We are looking for 1-2 students on each campus to help WSO in its sales efforts to student clubs/career centers, and overall promotion at your school both online and on the ground. Below is a description of the position and benefits...thanks in advance for your help! <a...
WSO is Looking for Campus Reps For Summer/Fall 2013 (and beyond)
<em>“You know, In The Flesh,”</em> a WSO monkey told me at a recent Happy Hour, <em>“that gentleman’s book is the real deal. I ordered that shit on Amazon as soon as I read your review. It’s so right, man. I want to be like that: keep my word, honor my commitments, be...
Being A Gentleman, Revisited
<em>Mod Note: This is a syndication from Jared's Daily Dirtnap daily market newsletter. WSO readers qualify for a $100 discount...just email [email protected] and mention "WSO Monkey Discount" You can follow Jared on twitter at @dailydirtnap</em> There I go...
In Praise Of High Interest Rates
<em>Mode note: Blast from the past - "Best of Eddie" - this one is originally from December 2010.</em> Monty09 may have gotten the best plug yet for his <a href="http://energyrodeo.com/">Energy Rodeo</a> in Houston next month, and it came from none...
New York vs. Houston
more

Recent Jobs

  • M-Payments Start-up: Chief of Staff & Business Development Manager
  • Venture Capital Associate - Austin, TX
  • Associate - Philadelphia
  • Vice President, Investment Banking Credit Division
  • Fund Accountant - Chicago
more



Sell Tickets Online through Eventbrite

Poll

Why would you NOT go to the 2013 WSO Conference? :
View the current poll results.

Silver Banana Rankings

  • Silver Banana Leaders
  • Soiled Monkeys
UserSilver Bananas
Edmundo Braverman1113
TNA1094
CompBanker873
happypantsmcgee742
IlliniProgrammer715
UFOinsider628
TheKing620
BlackHat564
Nouveau Richie420
cphbravo96404
more

Top WSO Members

  • Total Bananas
  • Active Monkeys
UserBanana Points
Edmundo Braverman14322
TNA13473
WallStreetOasis.com12039
UFOinsider10300
happypantsmcgee9621
IlliniProgrammer9178
CompBanker8504
Siberian Husky5862
AndyLouis5784
monty095398
more

New Groups

  • Denver Professionals
  • Minneapolis Bankers
  • Non-Target Networking in NYC
  • Prep School Bankers
  • Commercial Real Estate
  • University of London
  • University of Cambridge
  • Atlanta Monkeys
  • German Monkeys
  • University of North Carolina - Chapel Hill
more

© 2006-2012 WallStreetOasis.com | All Rights ReservedAdvertise | About Us | Contact Us | FAQs | Site Map | Privacy Policy

As Seen In

Sister Site

Syndicate content