Here’s a question I get asked in class from time to time:
Can I pretend to have a competing offer to improve my chances during a negotiation?
Perhaps you’ve had some success bluffing with vendors in the past. While haggling the price, you made it clear that you would be fine walking away because you had other options. Maybe your act was convincing enough to score you a better deal.
But is bluffing an effective strategy to pursue during a professional negotiation?
Options, especially competitive ones, can certainly help you achieve the upper hand during a negotiation. They signal a real demand for your expertise and services, and provide a significant boost to your market value.
But do you know what can absolutely tank your market value? Lying.
Negotiating in the workplace is not the same as engaging in a harmless back-and-forth with a random salesperson. In professional negotiations, you are dealing with individuals who value integrity and honesty, not just an impressive resume. The last thing you want to do is get caught in a lie and harm your reputation, relationships, and prospects down the line.
In reality, most active industry players such as recruiters and managers are knowledgeable about the latest market comps, roles, and overall hiring landscape. The other party may even find your “I have another rockstar offer” bluff disingenuous and decide to end talks altogether:
“Well perhaps you should go with your ‘rockstar offer’ as this opportunity doesn’t seem to be the right fit.”
How you present yourself during a negotiation speaks volumes about who you are. If you do in fact have other legitimate offers, handle the conversation with grace and thoughtfulness. If you don’t have options, you can still make a strong case for more by emphasizing the data points which elevate your worth (e.g. skills, expertise, experience, and substitutability):
“For this next chapter in my career, I am looking forward to applying my 15 years experience of launching successful products to a senior management role and I’m exploring several exciting opportunities at this time.”
How much you want to share about your options is ultimately up to you. For example, you may only want to disclose data that’s helpful for your case (e.g. the specific details and status of your other competitive offers). Also remember sticking with the status quo is always a valid option, especially if the terms in question result in a potentially worse outcome for you.
Advocate for more, but do so with integrity. This sets you up for the right opportunities with the right people, putting you in situations where you will be rewarded for your results and your character.
These are the wins to be proud of.