Executive Salary Negotiation - Top Tips
You've made it past the interview. You may think all is great in the world, but there is a harder part of this process that is coming. Now it's time for salary negotiation and to talk money. Here are our top tips on how to negotiate your salary and salary negotiation strategy.
First get into a mindset that has you ready to talk at the salary negotiation table. You need to be ready to discuss your strengths and why you are worth what you say you are. If you have great contacts in your industry, or special skills that make you a more valuable player in the company, don't be shy about bringing that up. You only get one chance to make this sale of yourself.
Before you go into executive salary negotiation, you need to make sure you are up to date on salaries, and your compensation options.
There are a number of salary websites out there (such as salary.com) that will let you look up your field and get average rates of pay for many of the jobs available. You will at least get a general look at the pay rates in the industry. The problem is many of those salaries, once you get to executive level jobs, are more subjective than you may like.
One thing to keep in mind is that your salary negotiation doesn’t have to be just about money. While money is nice, perks are too, and many companies have a long list of perks for their executives to take advantage of. Before you head to the negotiating table, try to see if you can find a list of the perks the company you are signing on with offers.
When you see a long list of benefits like stock options, supplemental benefits, retirement plans, use of company planes and vehicles, memberships to various clubs, and others, you need to prioritize which ones are the most important to you. You are not going to get a free slate to pick as many of them as you want, so decide what is most important for you and push for those.
Getting the salary you have been hoping for is not out of the question, you just need to make sure you go to the table researched and prepared.
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