Exercise 23 SALARY NEGOTIATIONS
NEGOTIATION 7e LEWICKI ▪ BARRY ▪ SAUNDERS Confidential Role Information for Employee Position 2B You are a loan analyst in the downtown office of the Modern Finance Company. This company has a number of offices around the city, and each office has a small staff of analysts working in positions similar to yours. Loan analysts assess how much money a customer can borrow for a car loan, home mortgage, paying off credit card debt, etc. You have worked for the same boss since you came to Modern three years ago. You and the boss get along well. You have been doing a great job, and have been complimented by your boss on several occasions for outstanding work in analyzing customers. As far as salary raises go, however, you have had what you consider adequate raises, but nothing truly substantial. You feel that your consistently good loan reports—a lot better than your peers-­‐-­‐merits a larger than normal raise. To strengthen your hand, you have been doing a little "seed planting" with M. Williams, the manager of one of the suburban offices of Modern Finance. While you don't have a firm commitment from her, Williams has given you signals that she would like you to work for her in her office. She has seen several of your projects, and was very impressed with the quality of your analysis and your ability to put a plan into action. She implied that you would get an immediate raise if you came to work for her. Williams had also heard about the quality of your work directly from your current boss. Since your boss feels that you are a valuable worker (and your work has proved it), isn’t it time to get the company to show it with dollars? Your last raise moved you from $53,000 to $56,000, which was about a year ago. It is now time to try for the big jump -­‐ a $7,000 raise. You have the leverage on your boss, because you have an implied offer from Williams (but no specific amount was named). While you really enjoy working for the downtown office, you don't want to limit your options, particularly when it involves money or opportunities for promotion. Take a few minutes to review these facts and then devise a strategy to approach your boss for this raise.