Victoria Pynchon is an attorney who practiced commercial litigation for 25 years.
Since 2004, she has been mediating and arbitrating commercial disputes—the former with ADR Services, Inc.
And at the same time, you are communicating that you already know your skills are valuable.
Just as important as anchoring high, the second benefit of giving a number at the high end of your range is that you give yourself enough room to negotiate if you’re offered the job.
In 2006, Victoria earned her legal masters degree in Dispute Resolution.
She has been teaching negotiation and providing negotiation consulting services to lawyers, executives, professionals and entrepreneurs ever since.in Century City and the latter with the American Arbitration Association in Los Angeles.In 2010, she founded She Negotiates Consulting and Training with her business partner Lisa Gates.” The three major takeaways are these: Galinksy’s research shows that people typically tend to exaggerate the likelihood of their bargaining partner walking away in response to an aggressive offer, and that most negotiators make first offers that aren’t aggressive enough.Determine your best-case-scenario outcome, and focus on that.Negotiators who focus on their target price make more aggressive first offers and ultimately reach more profitable agreements than those who focus on the minimum amount they’d be satisfied with. In doing so, you’ll still likely get a profitable deal, and the other side will be pleased with the outcome.Remember, there’s little to risk if you put out the highest number you can justify, but there’s a lot to lose if you don’t.Next, I recommend writing “(flexible)” or “(negotiable)” next to your number.If you have room to do so—for example, in your cover letter—stress again that your salary requirement is flexible or negotiable and that there are so many working parts to compensation—benefits, job title, opportunities for advancement—that you’re certain you can find a way to satisfy both of you if you’re a good fit for the position.Now, I realize that making an aggressive initial offer can be a scary proposition. First, when the value of an item is uncertain—as your services to a prospective employer are—the first number you put on the table acts as a strong “anchor” that will pull the negotiation in its direction throughout the entire bargaining process.Professor Adam Galinsky of the Kellogg School of Business at Northwestern University has explained the anchoring phenomenon this way: “Items being negotiated have both positive and negative qualities—qualities that suggest a higher price and qualities that suggest a lower price.