As we always tell our students, it is crucial that one plays the numbers game when applying/negotiating for Product Management roles.
More offers create more options!
Once you have a number of offers on the table, the next step is to navigate through each of them to decide which one is best for you. Suppose you really want to work at one company but you feel like you are getting low-balled. Meanwhile, you have two higher offers waiting on your response but you honestly couldn’t care less about those companies. How do you reconcile all this while maintaining the upper-hand in the hiring process?
In this Product Gym podcast we sit down with one of our students, J, to help walk him through negotiating multiple Product Management offers. Throughout the podcast we discuss when and how to approach the salary question. We also discuss the importance of continuously applying while using other offers as leverage.
When broaching the salary subject, you need to imagine that you are house hunting. You would never tell the real estate agent your actual budget, otherwise they may try to raise the price, or in this case, lower your salary.
Therefore, you want the recruiter to reveal their number before you can reveal yours. That way, you retain the upper ground without getting lowballed on the first go. If their offer is too low, put it on hold by saying that you need to further discuss it with your family and other loved ones.
As you do this, remember to mention existing offers to leverage new ones. This will put some pressure on the recruiter to appeal to your salary expectations. Like a Product Manager, you must be assertive.
This is also why we encourage our students to KEEP ON APPLYING. More offers creates more options to choose from, as well as more leverage to help you land the best Product Manager job for you.