Deck 16: Negotiating a Job Offer

Question 1

An analysis of how MBA students react to job offers revealed that job candidates strongly consider how responsive companies are to their questions and whether recruiters are cordial.

Answer 1

True

Question 2

Potential job recruits should indicate their BATNAs to employers in order to increase the effectiveness of their negotiations.

Answer 2

False

Question 3

Which of the following statements is true of comparables and benchmarks in job negotiation?

A) Concerns for social comparisons are more important when people evaluate two options than when they evaluate a single option.
B) People are more likely to accept a higher-paying job that pays other employees more than a lower-paying job that pays other employees the same amount.
C) People do not want to be underpaid and would even give up more absolute money if this meant they were treated like others.
D) Signing bonuses are found to have a significant positive effect on rates of acceptance of job offers among most MBA students.

Answer 3

C

Question 4

What is the advantage of a negotiator breaking down issues important to him into smaller subsets,prior to a negotiation?

A) It provides greater opportunity for creative agreements.
B) It enhances the attractiveness of the negotiator's BATNA.
C) It helps the negotiator deal with any unplanned negotiation scenario.
D) It helps the negotiator assess the employer's possible BATNAs.

Question 5

It is important to stop negotiating if the other side is not responsive and reciprocal concessions grow smaller.

Question 6

Which of the following is a component of protection benefits?

A) stock/equity interest
B) disability insurance
C) bonuses
D) sick and personal days off

Question 7

If you have not yet been offered the job but sense that the employer wants to find out what you desire in a job offer,it is advisable to talk about salary or specific terms.

Question 8

A negotiator's negotiating power is greatest ________.

A) when responding to an employer's job offer
B) while interviewing for a job
C) after accepting a job offer from an employer
D) while awaiting results of a job interview

Question 9

You are in a much weaker position to negotiate before you have a job offer than after you are offered a position.

Question 10

Negotiators should always assume that a job offer is negotiable.

Question 11

People are more likely to accept a lower-paying job that pays other employees the same amount than a higher-paying job that pays other employees even more.

Question 12

Which of the following is a component of paid leave?

A) stock/equity interest
B) 401k
C) wellness programs
D) training time

Question 13

Exploding offers are those that are extended to prospective job recruits such that they can choose to accept or reject once they have exercised their BATNA.

Question 14

Which of the following is a component of retirement benefits?

A) stock/equity interest
B) wellness programs
C) 401k
D) bonuses

Question 15

Penny is a fresh graduate from a business school in New Jersey.She has interviewed with Penarol and Estudes for a marketing job.Which of the following guidelines should she follow during the job negotiation process?

A) She should discuss her BATNA with the employer and be honest about her current salary and wage package.
B) She should focus and select subjective standards that are most favorable to her and steadfastly stand by them.
C) She should not push the employer to negotiate for non-monetary perks such as flexible hours and bonuses.
D) She should always assume an offer is negotiable and articulate her needs and interests.

Question 16

A powerful negotiating strategy is to be vague about what it will take for you to agree when negotiating with the employer.

Question 17

Which of the following is classified as an additional living expense?

A) student loan debt service
B) life insurance
C) income tax
D) vacations

Question 18

Which of the following is a component of compensation?

A) pension
B) 401k
C) salary
D) insurance

Question 19

Prospective job recruits should immediately agree once they have received a firm job offer and a salary figure from the employer.

Question 20

Which of the following is classified as a necessary living expense?

A) continuing education
B) taxes
C) recreation and entertainment
D) charity

Question 21

According to the text,it is important to stop negotiating when ________.

A) the other side is highly enthusiastic about negotiations
B) a rival offer comes up with better terms
C) the employer extends an exploding offer
D) reciprocal concessions are becoming miniscule

Question 22

How should candidates deal with employers who attempt to gain information on their BATNAs?

Question 23

How do comparables and benchmarks influence the process of negotiating a job offer?

Question 24

Briefly describe a rational strategy to choose among multiple job offers.

Question 25

________ are job offers that should be accepted by a prospective employee within a short period of time before they are withdrawn.

A) Exploding offers
B) Standing offers
C) Unconditional offers
D) Lateral offers

Question 26

Write a brief note on BATNAs and their significance in job negotiations.