I Will Teach You to Be Rich, Second Edition: No Guilt. No Excuses. No B.S. Just a 6-Week Program That Works

How to Tackle Future Large Purchases

broke down their job posting line by line and wrote down my skills and projects I’d worked on that directly related to their description.

2. I researched their website extensively, read articles about the company, and looked up the management teams’ backgrounds so that I could speak knowledgeably about the company and why I was a good fit.

3. I prepared a spiel about my somewhat eclectic résumé, which can look unfocused if not set in the proper context.

4. I called an expert on startups, finance, bargaining, and a half dozen other things to get some outside counsel. Ramit gave me some key advice, including “Tell them you want to get your hands dirty” and “Suggest three things you would do to improve/enhance their marketing efforts.” Yes, he does talk just like he writes on his blog.

5. I actually took Ramit’s advice, which is where a lot of my work came in. I dreamed up three proposals for generating greater interest at trade shows, better responses to direct marketing efforts, and increased name recognition in the general population.

4. Don’t ask “yes” or “no” questions. Instead of “You offered me fifty thousand dollars. Can you do fifty-five thousand?” say, “Fifty thousand dollars is a great number to work from. We’re in the same ballpark, but how can we get to fifty-five thousand?”

5. Never lie. Don’t say you have another offer when you don’t. Don’t inflate your current salary. Don’t promise things you can’t deliver. You should always be truthful in negotiations.

Case Study

Things You Should Never Do in a Negotiation

1. Don’t tell them your current salary. Why do they need to know? I’ll tell you: So they can offer you just a little bit more than what you’re currently making. If you’re asked, say, “I’m sure we can find a number that’s fair for both of us.” If they press you, push back: “I’m not comfortable revealing my salary, so let’s move on. What else can I answer for you?” (Note: Typically first-line recruiters will ask for these. If they won’t budge, ask to speak to the hiring manager. No recruiter wants to be responsible for losing a great candidate, so this will usually get you through the gatekeeper. If the gatekeeper insists on knowing, I recommend you play ball, realizing you can negotiate later.) And in New York, asking for your current salary is actually against the law.

2. Don’t make the first offer. That’s their job. If they ask you to suggest a number, smile and say, “Now come on, that’s your job. What’s a fair number that we can both work from?”

3. If you’ve got another offer from a company that’s generally regarded to be mediocre, don’t reveal the company’s name.

9. If it doesn’t work, save face. Sometimes the hiring manager simply won’t budge. In that case, you need to be prepared to either walk away or take the job with a salary that’s lower than you wanted. If you do take the job, always give yourself an option to renegotiate down the line—and get it in writing.

Practice negotiating with multiple friends. This sounds hokey, but it works better than you can imagine. If you practice out loud, you’ll be amazed at how fast you improve. Yet nobody ever does it because it feels “weird.” I guess it also feels “weird” to have an extra $10,000 in your pocket, jackass. For example, one of my friends thought it was too strange to practice negotiating, so when he faced a professional hiring manager, he didn’t have a prayer. Later, he came to me like a clinically depressed Eeyore, whining about how he didn’t negotiate. What could I say? This lack of practice can cost, on average, $5,000 to $10,000.

7. Smile. I’m not joking. This is one of the most effective techniques in negotiation. It’s a disarming technique to break up the tension and demonstrates that you’re a real person. When I was interviewing for college scholarships, I kept getting passed over until I started smiling—and then I started winning a bunch of them.

Be cooperative, not adversarial. If you’ve gotten to the point of negotiating a salary, the company wants you and you want them. Now you just need to figure out how to make it work. It’s not about you demanding more or them screwing you for less. Negotiation is about finding a cooperative solution to creating a fair package that will work for both of you. So check your attitude: You should be confident, not cocky, and eager to find a deal that benefits you both.

Negotiate for more than money. Don’t forget to discuss whether or not the company offers a bonus, stock options, flexible commuting, or further education. You can also negotiate vacation and even job title. Note: Startups don’t look very fondly on people negotiating vacations, because it sets a bad tone. But they love negotiating stock options, because top performers always want more, as it aligns them with the company’s goals.

Negotiating tactic: Your line is “Le

amount they’ll pay you.

4. Have a toolbox of negotiating tricks up your sleeve. Just as in a job interview, you’ll want to have a list of things in your head that you can use to strengthen your negotiation. Think about your strong points and figure out ways you might be able to bring them to the hiring manager’s attention.