Next Level Negotiation

In the spring of my senior year of college, I was freaking out a little about interviewing for jobs. I remember asking my economics professor, who was (and still is) the best professor I’ve ever had, for his advice on how to handle things like salary and benefits negotiations. “I heard that the first person to say a number loses,” I told him. He smiled and laughed out loud before proceeding to give me two of the best pieces of advice I’ve ever received.

Just remember kid- money isn’t everything and you’re worth a hell of a lot more than you think.

“First, don’t get a job. You’re young, you have no children, you think you’re tied down but you’re not- go explore the world.” I rolled my eyes and prodded him for the real advice, “okay, you want my opinion on the matter here it is: not only should you be the first to say a number- it should be a big number.”

He paused, looked at me to make sure I was following, and then continued, “realistically you aren’t going to get a starting salary of $100,000 but they don’t know that you don’t know that. There is a theory in psychology called anchoring that claims that the first number suggested to a person- even if it’s just made up- establishes the stakes. Once a person gets a number they unconsciously start to analyze it to see if it sounds too high or…