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Reflections On “Salary Negotiation” Essay

1451 words - 6 pages

This role-play focused on a salary negotiation between a student, who is going to graduate from an MBA Programme, and Taylor (the employer). Our group played the role of the student. The main task is to negotiate with Taylor to get a job offer with a decision on relevant issues such as salary, start date, cost of moving, etc. From the perspective of the student, the job offered by the company of Taylor is very appropriate to the student’s interest in term of location and the job’s requirement. To be specific, if the student can successfully get this job, he will work in New York. This is also where his fiancée lives. Besides, the job position is going to be a product manager of a famous ...view middle of the document...

We got to know that we needed to assess ourselves by identifying our goals, our rankings, the fallback position (BATNA), our limits, the bargaining packages. Furthermore, we also needed to consider the other party’s assessment, and the situation assessment. Therefore, our group did our homework by researching the real requirement and salary paid for this job in reality. We also looked specifically at the living cost in New York and San Francisco. Then we were able to explore more factors that relate to a job condition (promotion, benefits, insurance, etc.) and the determined our priorities. We decided specific goals for our Target point, Reservation point and BATNA. This plan is illustrated in the table below.

Priorities Issues Target Point Reservation Point BATNA
1. Salary $130,000 $110,000 $108,000
2. Stock option/Bonus 10% of Salary 8% of Salary Yes
3. Promotion Based on Performance Yearly Based
4. Start Date Sept, 1 Aug, 23 Sept, 1
5. Moving Cost $9000
(up front) $9000
(later) No Moving Cost
6. Benefits (Paid Holidays, Retirement Plan) Full Paid
30days/yr Full Paid
7. Sick Days / Personal Days Full Paid
21 days Full Paid
8. Insurance (Car, House, Health) Company Car
33% Reimbursement
9. Wellness Program( Fitness facility, Training) Up front Reimbursement
In brief, we wanted to start the negotiation with a small talk on our suitability to the company and suggest a first job offer with our target point ($130 million and other issues) for the start of 1st September. We also kept in mind our reservation point ($110 million and other issues) and our BATNA (other job, $108 million and other issues). Among the nine issues on the table, the salary was the most important factor to us.
In our real negotiation, we had a chance to negotiator with the team of the employer. The employer introduced the company, the job position and asked us how much do we want from this job. As we demonstrated our target point to the company ($130 million and moving costs), the employer did give many persuasive reasons to state that this salary could not be approved. Their offer was $80 million, no stock option, no moving cost. Their opinions were that they needed to spend money to train the employee so that they were incurring the training cost. Besides, the employer emphasised that the student had not met their expectation of working experience completely so they could look for other alternatives. Our group knew that we were in a lower position. All of our arguments that we prepared before were ignored by the employers. Both parties spent too much time to convince the other mainly on the salary that we were unable to discuss about other issues (start date, promotion, etc.). Finally, we closed the negotiation, but no deal was reached. Our group remained the first offer ($130 million) while the employer increased their offer to $100 million.
• Was your preparation sufficient? Explain why or why not....

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