AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Why You Should Never Make the First Offer in a Negotiation
In a negotiation, it's crucial to never make the first offer because of the concept of information asymmetry. By letting the other party make the offer, you gain advantage from knowing their position and avoid potentially undervaluing your position. Avoid giving a specific number and politely decline when asked for your salary expectations. Only consider making the first offer if you have a strong reason to believe that the other party will come in super low, as in the case of selling items on Craigslist.