How would you negotiate if you are in my situation.
I am expecting to sign a contract with a small investment banking boutique and I am afraid that they are going to lowball me.
All feedback would be appreciated
Quick Guide: negotiating an investment banking salary
Negotiating an investment banking salary and offer can be difficult. But working hard to break into the industry just to receive a low ball offer is equally challenging.
Here are a couple of key points for negotiating your offer.
- Determine if you're liked
- Determine if the person sitting across from the table likes you. This helps gauge the amount of social/political capital you have to work with.
- Create a "because"
- You need an x % increase in your base salary because.... Make sure you have sound justification for asking for what you want. Talk about why it is need not a desire
- You want to work for them
- The person across the table from you does not want to negotiate with a candidate you will renege on an offer. Make it clear that you want to work with and for them.
- Consider their limitations on improving your offer and what they might be.
- Tell the truth
- You may get some hard questions that you cant prepare for. Tell the truth. Evading and lying will only make the situation unwinnable.
- Put it in perspective
- Is this your only offer? Will making a sacrifice in short term pay benefit your career in the long term? Zoom out and put it in perspective.
from certified user @TNA
Tread softly with the negotiations. There are probably a hundred people on this board who would gladly replace you for the same salary.
If they give you a figure where you honestly cannot live on just say so, but don't try to bump it up just for a little more cash because they could simply say good bye.
Are you being paid fairly?
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