The Lonely Office
How to Negotiate Like a Pro Athlete
Oct 23, 2024
Negotiation isn’t just about numbers; it’s an art that can be mastered. Discover how athletes like Shohei Ohtani and Michael Jordan leverage unique contract structures and 'love of the game' clauses. Learn about creative approaches to salary discussions and how an empowered mindset can transform your negotiations. From innovative compensation models to cautionary tales in sports, unravel valuable strategies that can help you negotiate like a pro in any field.
28:25
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Quick takeaways
- Athletes' contracts reveal the benefits of creative compensation structures that prioritize long-term gains over immediate salary payouts.
- Recognizing personal value in negotiations empowers employees to propose innovative terms aligned with their contributions and the company's success.
Deep dives
The Power of Unconventional Contracts
Shohei Otani's contract with the Los Angeles Dodgers offers a glimpse into how unconventional compensation structures can be beneficial for both employees and employers. With an overall value of $700 million, only a small fraction is allocated as annual salary, with most of the payout deferred to years after he retires. This arrangement reflects a focus on long-term gains rather than immediate cash, allowing the team to manage its budget more flexibly while providing stability for the player later in life. Such creative negotiations demonstrate the potential for higher earning stability, motivated by mutual benefit in the employer-employee relationship.
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