How many times have you finished an interview or ended a negotiation session and wished that you had asked for additional compensation items or, at least asked for ones that were more closely aligned with your career goals? Did you feel that you might not be in a position to ask for more because you feared they might withdraw their offer?
Now is not the time to be timid. Your starting salary is the leading factor in how far this job can take you toward attaining your career goals. It can take years of hard work to attain what can be skillfully negotiated in just a few focused meetings. In addition, now that you have beaten the competition for the job, it is the perfect time to negotiate because the employer really wants you.
Compensation often includes items beyond salary that can be very important to meeting your career goals. Every individual has a different set of priorities related to their ideal compensation package and it is essential that you know what you want and how to articulate that to your new employer. Remember, their job is to get your value-add for as little as possible. It is your job to get as much as you can and your negotiating skills and decisive prioritization related to compensation will be appreciated by your potential employer.
Creating a good compensation list requires you to analyze the priorities in your life and the needs of your other family members. An executive with young children who is building a second family will have different priorities than a young executive with no current family obligations. Your employer has no knowledge of what your ideal compensation package will look like so it is your job to determine exactly what you want and what you must have for this job to meet both your career goals and your current life circumstances. Corporations are very competitive with one another when it comes to attracting the best talent. In addition, there are many different forms of compensation that may sweeten their offer for you.
This is your chance to pull together in one list all of the things related to your salary and compensation package and prioritize them. Don’t end up in your next negotiation session unprepared. When reviewing these, you can prioritize the must-have items verse those that are nice to have. When you compile your list, contact SC&C to discuss how we can help you achieve you goals, and position yourself so that the company “gets” your value-add and will be happy to offer you more.