3 ms·
A market has a bid and an ask. They are bidding for you. If the bid is several deep, its not illigitimate to introduce this information into the discussion.
by 001sky 14y ago
A market has a bid and an ask. They are bidding for you. If the bid is several deep, its not illigitimate to introduce this information into the discussion. But a few considerations:
> Right Time, Right Place
> Relevance, Comparability
> Don't Bluff
Right time is only when it will make a difference. Upfront is not the right time. The right time is when there is an actual/reasonable offer put forth with a flaw or other "bridgeble" gap, that if it were "at market" would be a non-issue. The other offer is evidence of "where the market is at". This is completely fair use.
Relevance and comparability, though, mean that you should not pretend an offer for X is the market for Y. If you do this (on purpose or unwittingly), not only will it most likely not work, you may raise some eybrows. Classic example is using a comp from one market (like, from SF) in another market (midwest), or between job-titles, or whatever. If you are truly deciding between a career in X and Y, you need to be very careful about this.
Lastly, be very careful unless you are willing to walk from the table. If you are 100% OK with taking the other job, for example. Alternatively, if the point you are negotiating is a definitive deal killer (ie, it will make you walk away) then again, it makes sense to consider bringing what you have to help get a deal done. This will give the other party some ammo to use internally to overcome a barrier, which is in both of your interests, etc.