Pursuing Multiple Job Leads? 4 Negotiation Mistakes To Avoid

Any advice on how I can negotiate these two potential offers? I just received a verbal offer at a boutique agency based in [LARGE CITY]. I also made it to the final round of interviews with another agency based in [MIDSIZE CITY] and they’re trying to find the budget for my role based on some anticipated, incoming business. – Advertising Account Executive

On the plus side, this job candidate is pursuing multiple job leads simultaneously and not relying on any one lead to come through. One negative, however, is that they are asking for negotiation advice instead of interview advice. Though both leads sound promising, only one is a clear offer. Mischaracterizing your situation leads to a common negotiation mistake job seekers make when pursuing multiple leads.

Planning for what may be is a waste of energy. Focus on the actual situation

This job candidate has one verbal offer and one late-stage interview invite, not two offers. Yes, things look promising but you’re not done yet! Stay focused on turning late-stage interviews into actual offers, as well as keeping any verbal offers warm. Don’t waste time on weighing pros and cons of the various jobs because there is no decision to be made. Instead, the key steps to take are honing your interview technique, conducting more research on both companies to ask intelligent questions and continuing to network and fill your pipeline in case the late-stage interview doesn’t convert to an offer or the verbal offer doesn’t turn into an official written offer.

Prevent a premature decision. Sync up the hiring timelines of your multiple prospects

Another key step to take is to slow down any offers you do receive, while speeding up any late-stage interviews. Let the late-stage companies know that you have an offer, but you would rather work with them (that is always potentially true because you don’t know exactly what the offer could be!). At the same time, stay responsive to the companies that have given you an offer but push your decision out by continuing to ask questions. Get clarification on benefits. Ask for more details about the role, organizational structure or other aspects of the work. Companies hire on different schedules. One of the trickiest things is to have multiple leads turn into offers at the same time. Yet, that’s what needs to happen to keep yourself from having to decide on one offer without knowing if another lead will become a better offer.

Don’t just settle for what’s offered. Negotiate your key priorities

The account executive who asked this question didn’t give a lot of detail, but did highlight the different geographies of each prospect, which suggests that geography is a priority. We know that one prospect is in a large city and one is in a midsize city, but there are multiple geography-related factors to negotiate. Is there location flexibility? Where are clients located and how much travel would there be? What relocation benefits are offered? It’s not just how the company initially describes the role, but what you and the company ultimately agree to. Whether it’s about geography or some other factor, ask for what you want, not just what you assume you’ll get.

Assume the best, but prepare for the worst. Negotiate for downside protection

Speaking of assumptions, of course you accept the job that carries an expectation that things will work out great. But new leadership might come in. The economy could deteriorate, hitting your new employer particularly hard. This account executive even alluded to one of their prospects banking on “anticipated, incoming business”. What if that business doesn’t come in? When you negotiate your offer, ask for downside protection – e.g., guaranteed severance if your role should disappear through no fault of your own, immediate vesting of any bonuses if your tenure is cut short (again through no fault of your own). It doesn’t cost the company anything, but it gives you valuable protection.