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Best Practices to Negotiate the Best Product Manager Offers

Negotiating the compensation you deserve is as important as getting the Product Manager job you want! In this podcast series, we are giving you a COVID19 proof strategy to be the most desired Product Manager in the market!
4 min read

 
We get it. Product Manager positions these days are generally available in the most expensive cities. You need a sufficient salary to provide for your needs and desires and save up for your future.

Winning the Product Manager offer was a nearly impossible task on his own and now asking for the compensation you deserve? This podcast series shows you how to get what you deserve, even in the times of COVID19!

If you haven’t familiarized yourself with any of our publications, then you should know that we are the biggest fans of the numbers game. Our strategy is based on an abundance mindset. Similar to the way we believe that the key to the Product Manager offer is through multiple Product Manager interviews, the key to the most rewarding Product Manager job is through multiple Product Manager offers!

And why is that? The answer is simple: by taking multiple Product Manager offers, you are proving your target company that other companies want you! Your skills and potential have been verified by more than a single company.

When we make this point, we get a common complaint most of the time. There are only a handful of companies that one wants to work at, so there is no point in spending time getting offers from non-target companies.

You don’t have to commit to a company just because you received an offer from them. You only need the offer to have the leverage to go out there and start negotiating with your desired company. We had a member who landed a very rewarding offer at Facebook. To get to that level, he landed eight other offers, which only didn’t give Facebook the validation that the person’s skills are very much desired in the market but also the motivation to make the best offer to keep this talent to themselves. Note that those eight offers weren’t from brand name companies like Google or Uber. They were startups that most of us never heard of!

So, make sure to get multiple offers before committing to a Product Manager job.

Other hesitations we continuously deal with are members comparing themselves with candidates coming from prestigious schools/MBA programs and candidates with highly in-demand skillsets. Yes, there is no doubt that these merits are still very much desired in the market.

If you go to Google’s or Airbnb’s Linkedin page and check their Product Managers profiles, you will see that a good number of them come from top-ranking MBA programs or have computer science degrees. But, you know what? A good number of Google PMs don’t have these qualifications, which proves our point that you can get to the place you want with multiple offers.

Even with multiple offers, the company you want to work at might hesitate to reward you with a good compensation package. What is the game plan then? Listen to the second part of this podcast and keep on reading!

Landing multiple offers might not be enough for most of the companies. Especially at the height of COVID19 and economic uncertainty, the last thing on their agenda for many companies is talent acquisition. Most of them stopped hiring, if not started laying off their own talent. 

If you are still struggling to come up with a roadmap your Product Manager job hunt during COVID19, make sure you watch our job hunt strategy video to stop feeling hopeless and lost!

So if that’s the case, what should be your next step. There are two choices:

  1. Exit: Yes, it’s that simple. Just leave the offer and keep on searching for better opportunities.
  2. Be a wartime Product Manager: If a company is actively looking for new talent during these uncertain times, then there is one quality that they are craving for: the ability to find new ways of making money! You should prove to them that you know how (or at least have a solid idea) to help them survive this global pandemic in the best possible way.

Here’s the story of a successful Product Gym member and instructor on how he chose to be a wartime Product Manager to get what he wanted in record time during lockdown!

Let’s take a close look at option 2 and how it works. We strongly encourage you to take the extra step to figure out a way of enhancing your target company’s business. Take their problem personally and come up with creative and feasible means of solving them. Show them that you are as concerned about the issues they are facing as they are!

We know that this is more work, but getting what you want is never easy, especially during a global pandemic! Have the courage and mindset to prepare a 90-day game plan for your company to improve a vital metric. The metric might be customer retention rate or cost of goods sold (COGS). Whatever you are trying to improve, make sure that it solves a core business problem that will help the company survive COVID19!

When we suggest this solution, some of our members are wondering if that’s too much. They believe that their boss or leadership should make such decisions. With the unexpected and enormous pressure that this global pandemic has exerted on the economy, NOBODY knows what to do precisely. It has erased all the assumptions and predictions for 2020 and beyond 2020. So take control of the situation and don’t rely on anyone!

We know for a fact that 99% of the workforce looking for new opportunities are far behind the negotiation stage. If you are still in the process of branding yourself and interviewing, make sure you read our guides to land multiple Product Manager offers in the least amount of time. 

Can’t find sufficient number of opportunities to apply? Watch our COVID19 industry overview video to see which industries are thriving and actively looking for new talent to join their team.

 

We cover the impacts of COVID19 on the Product Manager job market regularly and share our findings through our YouTube channel. Be sure to subscribe to our channel to the first one to know about our latest releases!

Still need more direction? Schedule a free consultation with us today to see how we can help you become the product Manager you have always dreamt of! 

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Best Practices to Negotiate the Best Product Manager Offers

Negotiating the compensation you deserve is as important as getting the Product Manager job you want! In this podcast series, we are giving you a COVID19 proof strategy to be the most desired Product Manager in the market!

Share this post

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Share on google
Share on twitter
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Share on pinterest
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Share on email

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