Congratulations! You’ve attained your Master’s in Business Administration (MBA). You’ve now joined the sea of MBA students looking for employment. To get a competitive advantage in the job market, you need to stand out from the rest of your colleagues.
Landing a job is a lot like closing a business deal, and who better to know about business deals than an MBA student? To get a sale, a business owner needs to be a tactful negotiator. In the same way, to survive and thrive as an MBA student, you’ll need to be distinct and learn how to negotiate well.
Check out these negotiation practices to stand out.
Do Your Research
Researching a potential client increases the chances of closing a business deal. Through taking a negotiating class, MBA students can increase their capacity to conduct research. Negotiation class prepares you for the right questions to ask. Negotiation students learn how to make the best offers, when to reject offers, and how to make counteroffers. Research supports your pick for the best strategy to adopt in each unique situation.
Your success as an MBA student in the competitive job market is more likely if you research your prospects. Avoid going for interviews without having the essential information concerning the company. Find out what their objectives are, which pain points they may be trying to address, and their history in employment trends.
The information you gather will equip you with tailor-made responses for your interviews. Recruiters may like how knowledgeable you are on the company’s needs and may overlook any of your shortcomings.
Have Guiding Principles
Negotiation classes emphasize sticking to principles that guide business decisions. Values and morals determine your principles and assist you in staying on course. Not every lucrative deal may be ideal for you, especially if it forces you to compromise on your values.
Being a student at the best MBA programmes isn’t your only advantage. Having your work and life values spelt out is essential in demonstrating your work ethic.
Companies notice principled applicants. Most managers like working with people who aren’t quick to compromise for the sake of short-term gain. Taking such a bold stance may position you for better opportunities. Organizations that share your values and principles may start looking for you.
One tactic deal-makers use is segmenting objectives into different issues. Undertaking a class in negotiations can give you a more in-depth explanation of fractionation. In brief, the aim is having multiple ideas to allow for more concessions.
As an MBA student, divide your advantage points into categories.
Pointing out your different strengths may make you appear like a better candidate. A high-grade score is great, but adding some real experience to your resume is better. Mention any volunteer work you’ve participated in. Highlight your work experience during internship placements.
Another aspect of leverage is your soft skills. Most graduates assume employers are only interested in their academic strengths. The truth is, most of your uniqueness lies in your personality and soft skills. Talk about your great communication skills, leadership traits, humility, and people-oriented nature. Research by industrial psychologists confirms that self-promotion often results in a positive outcome of an interview.
Business owners and sales reps are often negotiating for better deals. In contrast, most untrained graduates shy away from discussing their salary and benefits.
What happens when job candidates have equal academic qualifications? Employers may be more interested in what distinguishes you from the rest. By suggesting to you an offer, a recruiter would like to see you negotiate to get the job.
Bold engagement reveals your confidence levels. When you negotiate, your interviewer may get the impression that you can use your job to drive for more gains for the company.
To prepare yourself to engage others confidently, simulate a discussion with a friend or family member or use a negotiation simulation. Plan what you will say and how to behave during the interview. Practice how to respond when the interviewer presents an offer. You can ask for higher pay based on your research on how much other employees at your level earn. Persuade your prospective employer for better benefits.
Don’t appear so desperate to accept the first offer presented to you, especially if you have prior information that it can go higher.
Having your MBA may not be enough to land you your dream job. Aim to stand out from the crowd and gain the upper hand to land you the best job opportunities. Don’t shy away from engaging interviewers about the terms of employment. MBA students who show confidence and a strong work ethic are more likely to stand out against their peers.