careersolvers

Friday, October 06, 2006

Salary Negotiation is a lot Like Monopoly

Today while one of my clients and I were discussing his salary negotiation strategy, he had an "ah ha" moment. He said "You know, salary negotiation is a lot like monopoly!" I liked the analogy so much I've decided to expand on it on the Career Solvers blog. Remember when we were kids playing Monopoly and we got to the point in the game where we needed to trade property or offer money in order to make a monopoly? We had to decide what we needed to do to stay in the game and then we had to work cooperatively with the other players to make it happen. Well, when you negotiate your compensation and benefits package with a potential employer the process is very similar. First, you need to establish trust and credibility and establish rapport to convince the other party that they are making the right decision. Next you have to consider your priorities and decide what you really want and what you are willing to give up. Finally you must create a win-win situation where both parties feel satisfied when the deal is sealed. So next time you are in the middle of a negotiation conversation, think carefully about what you are willing to give up to get that Broadway or Park Place card that you need in order to make a monopoly. Enjoy the game!

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