4 Rules for a Hot Job Market

Management jobs are in demand with that demand likely to experience strong growth, according to the Future of Jobs Report by the World Economic Forum. This report finds that although many jobs will disappear in the near future (between 2015 and 2020) with advances in technology, artificial intelligence, and robotics, the management function will expand.  The report anticipates that the new, advanced technologies will require more sophisticated management.

As the Career Development Manager for the UCSB Master of Technology Management Program it’s my job to coach our MTM students to focus in on an area of personal interest and to use their time to identify job opportunities that are a good fit with their personality, priorities, and aspirations.  With the MTM skills and frameworks in demand, how do you handle receiving multiple offers from firms that are highly desirable to you?  Here are a few of my top tips

Rule 1:  Job offers are not like applying early decision to college.  Just because one company comes to you with an early offer, you are not obligated to take it without entertaining other offers--even if no one else has made one yet!  They will still expect an answer in a reasonable amount of time, perhaps up to 2 weeks--so circle back to your other leads quickly.  If you’re worried about running into this situation, you can delay an offer in some cases, by requesting a later interview time, giving you a chance to sync up all your interviews and try to get everyone on a similar timeline.

Rule 2: If they like it, they will want the opportunity to put a ring on it.  In a situation where receive an offer from Company X before hearing back from anyone else, immediately contact Companies Q, W, Y, and Z to let them know that you have an offer and inquire when they might make their own decision.  This is not being rude; this is good communication.  Chances are this situation will only make you more desirable if they really like you, Companies that are interested will not want to miss the chance to make you a good offer.

Rule 3: You can dump your prom date.  What if you’ve already accepted a position, and even started your new job...when a dream opportunity suddenly presents itself?  Assuming you haven’t signed a binding contract with an expiration date, you do have some options.  

First of all, you want to be sure not to burn any bridges, so don’t be hasty.  Take your time to evaluate and determine if the “dream job” really fulfills what you need to advance in your career.  Seek advice from a trusted advisor or mentor.  We teach our students to make senior-level connections starting early in the program so that when they are considering offers, they have a trusted, third-party advisor who can often provide some important perspective.

And, above all, if you DO decide to leave your company, keep your discussions with your supervisor and ALL others professional and cordial.  This is not the time to complain about any shortcomings you may have noticed at your current firm.  Make it clear that this is NOT about any deficiency at your current company (or with your current supervisor).  This is about a unique opportunity that offers you something different from your current position (e.g., not BETTER, just different).

Rule 4: Serve the whole enchilada.  When negotiating an offer with any company, give them all of your requests up front, with an indication of how important each one is to you.  This is the time you have the most negotiating leverage.  Once you’ve made your position clear, they can decide what parts of your requests they can meet.  You want to avoid “negotiation fatigue” in which burnout sets in after several sequential requests to change the offer.  Being clear up front puts the negotiation on level ground, doesn’t waste anyone’s time, and accelerates the entire process--especially important if you are juggling multiple offers on a limited timescale.

 

--The Master of Technology Management (MTM) program at UC Santa Barbara is designed to catapult engineers and scientists into leadership positions — within both startups and established companies. This 9-month, intensive program is designed to teach the frameworks, skills, and techniques you need to be a successful technology manager. No fluff, no filler.  The MTM degree will get you further, faster.

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