⏰ 30-sec Read: Offer Negotiation

Tired of lengthy offer negotiations? Extra rounds don't just waste time—they risk damaging candidate relationships. Using precise numbers can help.

Economists from Cornell and Berkeley Haas (Cheap Talk, Round Numbers, and the Economics of Negotiation) found that using precise, "non-round" numbers speeds up negotiations. Round offers (e.g., $200) invite more back-and-forth and lower outcomes. Specific numbers (e.g., $198, $157,500) signal credibility and finality, leading to quicker, better deals.

Instead of a round figure like $160,000, offer a precise number like $157,500. Precise numbers show deliberate thought, indicating limited negotiation room.

Try this small tweak to save negotiation time, preserve strong relationships, and close candidates faster.

Implementation: Use round salary bands for postings, then offer a precise, candidate-specific number in post-interview offer negotiations.