Negotiation

I didn’t know that I could negotiate more than my salary. Don’t limit negotiations to salary alone. Other components of a job offer that can provide additional value: Bonuses A structured bonus can significantly boost your earnings, rewarding you for achieving specific performance targets. Equity Equity can offer substantial financial rewards in the long-term, though it carries a higher risk compared to fixed income. Paid Time Off More paid time off can improve your quality of life and provide you with well-deserved breaks. Job Title An enhanced job title can increase your professional standing and open up future career opportunities. Professional Development Seek opportunities for the company to fund your professional development through courses or certifications, enhancing your skills and career prospects. Flexible Working Conditions Negotiating the flexibility to work remotely or adjust your working hours can lead to a better balance between work and personal life. Consider these negotiation options to maximize your total compensation and job satisfaction. What have you negotiated or wish you had negotiated before accepting a new role?

Are you willing to be uncomfortable for 90 minutes in order to gain an extra $7K annually? Most of you would say yes, right? Yet data shows that only 28% of women asked for higher pay when they were last hired (according to 2023 research from Pew Research Center). Men didn’t do much better – only 32% chose to ask. Here’s the kicker: of those that asked, 66% got more money than the original offer. Typically, companies are able to increase the initial offer by around 5%. 💲 It PAYS to ask. 💲 I get that it’s uncomfortable. We do this only a handful of times in our career, so we’re always rusty. But it is worth your time to do the work. Spend 90 minutes to: 1️⃣ Get clear on what matters most to you in the compensation package (salary, bonus, vacation, WFM flexibility, etc.) 2️⃣ Do your research to figure out the likely range for the role. Use salary sites and comparable jobs based in CO, NY, and CA (where salary transparency laws mean job descriptions have to include salary ranges) 3️⃣ Build your case for how your expertise will add value to the company and solve the problems you discussed in your interview process 4️⃣ Determine your counter offer and practice saying it out loud 5️⃣ Envision yourself having the conversation with confidence. Get into a professional, “we-can-figure-this-out” mentality These steps also apply when asking for a raise at your existing company. Remember, companies expect you to negotiate. You’re not going to surprise them by countering. #negotiation #jobinterviews #salary #coaching

Salary negotiations can be tricky, but let me share a story about helping someone secure an ideal salary during a job search. A few months ago, a talented marketing professional was exploring new opportunities. They had impressive experience but felt unsure about negotiating salary with potential employers. We started with thorough market research to understand their worth. Together, we crafted a compelling resume highlighting key achievements and their impact. As they landed interviews, we prepped weekly until we finally landed an offer. We rehearsed the pitch, focusing on tonality, clarity and confidence, and discussed strategies for various scenarios, including handling low offers. They set a minimum acceptable salary and an ideal target. When the job offer came, it was initially below their target. They responded by first appreciating the offer, the interview process, and the team. Then respectfully asked for the desired salary, outlined their value, and referred to their research using sites like Glassdoor, and outlined specific achievements to justify the salary increase. The employer appreciated their preparation and professionalism, revising the offer to include an increase in total compensation that met the needs of my client. This experience reinforced the importance of preparation and confident negotiation. For anyone navigating the job market, remember: that thorough preparation, clear articulation of your value, and confident negotiation are key to securing the salary you deserve. Don't be afraid to negotiate your salary. You are worth it. P.S. Here's the template we used in the comments below. #salarynegotiation

A former colleague of mine reached out a few days ago to get my thoughts on whether he should accept a counter offer. My answer to this question is always the same: With very few exceptions - No. More money isn't going to change the reasons that you were looking in the first place. And is it really MORE money? Or are you simply front loading the merit increase you were going to get in the next few years? It's not uncommon for those increases to scale back as you near the top of the salary range.... And if you were entertaining outside offers simply to leverage your current employer for more money, then you either were underpaid in the first place (in which case you should be leaving, because - screw them for not recognizing your value until they were forced to) or you are just being greedy (in which case you will be looked at negatively going forward and yikes - should still be leaving). There are countless studies about people leaving within a few years of accepting a counter offer, either because the things that prompted them to leave in the first place haven't changed and the novelty of the higher pay wears off, or because they were now first on the chopping block and got let go because their boss felt that disloyalty. It's fine to kick the tires and see what else is out there, but if there is enough good in a new opportunity (the job itself, culture, management, $$$) to get you to the point of giving your notice to your current employer - DO NOT RESIGN IF YOU'RE NOT PREPARED TO WALK! 🚶♀️ Not only does it leave a negative taste in the mouth of your current employer (and your colleagues if they knew what you were doing), but it can also damage your reputation with that prospective employer for future opportunities. I see this most often with people who've been at one company for a really long time. They can muster up enough courage to look elsewhere... and sometimes even to resign... but when it comes to holding firm and actually leaving, they waiver and accept the counter. Which is really unfortunate because they are the ones whose careers would benefit most from gaining perspective at another company. 🤷🏼♀️ #humpdaythoughts #counteroffer #walk #dontacceptifyouwontwalk #careeradvice #insurancecareer #recruiterlife #insurance #insurancerecruiter #cpcu #cic #arm #cisr

After a frustrating period of not getting promoted or raises, you finally decided to look for a new position. You’ve found a great company who offered you a raise and promotion (or track to promotion). How exciting! Your current company didn’t make it easy on you though. Your boss didn’t accept your resignation and put a counteroffer on the table matching your other offer. Wow! 💰 This is a very common situation and will probably become even more common in 2024 as the CPA and financial talent shortage continues to play out. So, what do you do⁉️ First things first. Let’s distill out the emotion and look at the numbers. Yes – there are actually studies that show what happens in the months following accepted counteroffers. While a counteroffer can be tempting, accepting a counteroffer can be a risky proposition. Turnover Rates after Counteroffer acceptance: ❗ 80% of counteroffer acceptors leave within a year. (Source: Layoffs.fyi, Bizjournals, LinkedIn) ❗ 50%-80% leave within six months. (Source: National surveys) ❗ 93% leave within 18 months. (Source: Ken Davies, career expert) Companies very often use counteroffers as a short-term solution to buy time while they search for your replacement. Even if they do keep you, the underlying issues that led you to seek new opportunities are unlikely to be addressed, leading to eventual dissatisfaction and a high chance of leaving anyway. Why You Should Walk Away: ➡️ Damaged Trust: Resigning demonstrates your desire for change. Accepting a counteroffer can damage trust and negatively impact your relationship with colleagues and superiors. ➡️ Unfulfilled Promises: Counteroffers often offer temporary improvements to retain you, but fail to address root causes of your dissatisfaction. ➡️ Limited Growth: Accepting a counteroffer could stall your career advancement, reducing your chances for promotions and new challenges. ➡️ Focus on Your Future: Instead of a short-term "fix," prioritize your long-term goals. The new job likely aligns better with your desired career trajectory and offers opportunities for personal and professional growth. Counteroffers are rarely a genuine commitment to employee development. They are often a short-term reaction to losing a valuable asset. Over the course of 30 years, I’ve seen a couple work out, but most times, I get calls saying “You were right. I shouldn’t have accepted that. Is the other position still open?” 🤦🏻♂️ By walking away, you're investing in your future and opening yourself up to a fresh start and hopefully more fulfilling career possibilities. Don't fall for the counteroffer trap. Choose the future that aligns with your values and aspirations, not one dictated by desperation or temporary incentives. 💼 #counteroffer #jobsearch #careermove #careervalue #warfortalent

Think twice before accepting that counter offer from your current company. 50% to 80% of employees who accept a counteroffer end up leaving the company within six months due to similar issues they faced earlier. (Gitnux report from 3/21/23) When I have a candidate facing a counter offer once they've put their notice in, I bring up two things: 1. Whatever the most up to date stats are (like above) on employees who accept a counter and still end up leaving the company. More money doesn't fix the reasons you went looking in the first place (unless it really was solely about the $ and there are no others problems). 2. Why'd your current employer wait until you were leaving to pay you what you're worth? Does that actually make you feel valued or is keeping you more convenient than having to hire your replacement? I've had candidates accept the counter, but time and time again, their "Open to Work" status pops back up in less than 1 year. If you receive a counter offer, I'd think twice before accepting it. #counteroffers #hiring #interviewtips

“Ask, the worst they can do is tell you no” I say that often. HOWEVER, the why behind your request matters- esp. when it comes to negotiating a salary. Before you counter, think about sticking to items that support the higher figure…. ❓ Have you done a market analysis and know what this role is paying in your area? Is the offer below this range? ✔ YES – counter. ❓ Do you have the “preferred qualifications” or unique experience that will benefit this role? Are you bringing more than just the minimum qualifications? ✔ Yes- Counter ❓ Did your recruiter give you a range prior, and the offer reflects the lower portion of said range that does not correlate with your YOE, qualifications or education? In other words- were you low balled? ✔ Yes – Counter ❓ Have a long commute and want to be compensated for the time and expense of said commute? How about childcare or student loans? 🚫 No. Cost of living is a thing for EVERYONE. Instead focus on #1. Your bills dictate the salary you need to survive, not what a company should pay you.  ❓ Have you been working as a contractor (not at this company) enjoying a much higher wage, and as a result you feel this offer should match that? 🚫 Another no- agency, contractor and traveler salaries are typically much higher than perm roles.  It's one perk (along with flexibility) that draws candidates to these types of roles. Internal Equity is a thing. No one wants turnover due to new hires being brought in well above their current team’s salaries. That’s a GOOD thing IF the ranges are in line with the current market and economy. It means they value their current employees, retention, and fair compensation. Ask your recruiter how salaries are calculated at the company.  I promise you it's not top-secret information requiring a security clearance. It’s important to know your worth. But it is so much powerful to be able to back it up with an understanding of current salary intel for this role, what you are bringing to the table and how it relates to their method of calculating compensation.  #salarynegotiation #jobsearch

Negotiating compensation can be intimidating. As an executive recruiter, I facilitate numerous discussions regarding compensation. Here are a few pointers to help you as you navigate comp negotiations: 1️⃣ Know Your Worth: Research the industry standards. Use websites like Glassdoor and PayScale and ask industry peers to understand what someone with your experience and in your position typically earns. 2️⃣ Establish Your Resistance Point: My dear friend Kristel calls this your "Happy Low Number". It's the lowest salary you will entertain (that affords you to maintain a happy quality of life - not just make ends meet). 3️⃣ Consider the Whole Package: Remember, salary is just one part of your compensation. Think about benefits like health insurance, paid time off, remote work options, and bonuses. Typically in executive comp, base salary only equates to about 30% of total comp with the majority coming from bonuses and LTI (equity). 4️⃣ Be Ready to Talk Achievements: Have a list of your accomplishments handy. Quantify your successes wherever possible (e.g., increased sales by 20%, optimized efficiency contributing to a 15% increase to the bottom line, projects delivered on time and within budget, etc). 5️⃣ Practice Makes Perfect: Role-play negotiation scenarios with a partner,/friend/coach. This helps build confidence and prepares you for tough questions. 6️⃣ Don't Feel Pressured to Accept the First Offer: It's usually a starting point. Express your enthusiasm for the role, but don't be afraid to ask for time to consider the offer. 7️⃣ Stay Professional and Positive: Negotiations are a part of business. Keep the tone positive and professional, even if you're turning down an offer. Remember relationships are extremely valuable, you never know when you might cross paths again. 8️⃣ Know When to Walk Away: If the offer doesn't meet your minimum requirements (happy low number) and there's no room for negotiation, it's okay to walk away. Settling below your resistance point almost always results in job dissatisfaction. Your skills and experience are valuable, and the right opportunity will come! #SalaryNegotiation #CareerGrowth #KnowYourWorth #NegotiationSkills

Loved learning from Heather Doshay at SignalFire and Peter Walker at Carta last week during our startup comp & negotiation session. Some takeaways 👇 1/ Know your numbers 📈 Companies leverage market data to come up with offers — job-seekers should, too. Create your own repository of salary ranges from relevant postings and recruiters in your network ✅ Leverage trusted data sources like Carta Total Comp that aggregate actual numbers, not just self-reported online info ✅ Only use this data in your actual negotiation ask if the offer is below-market. Otherwise, prioritize other arguments. 2/ Valuing equity at different startup stages 💸 Know what you’re trying to get out your next career chapter and target the stage startup that increases your probability of getting that. Late-stage startups typically communicate the equity value — what it’s worth at the current valuation. When joining at late-stage, your equity value may grow a bit, stay the same or decline (especially in the current market), but it’s unlikely to skyrocket. Early-stage startups: current equity value is very low but you’re buying into the dream of what it could be worth in the future and will have a bigger share of the pie than if you join later. Understand your % ownership to compare offers between different startups (not just # shares), especially at the early-stage. 3/ Consider a one-time cash ask 💰 Company can’t move on salary or equity? Consider asking for a signing bonus. Sometimes easier for companies to agree since it’s a non-recurring expense. Make sure to have a reasonable justification, such as: - Foregoing bonus at a current employer - Exercise shares at a prior startup to get you to leave - One-time true up for taking a lower salary in a new role - Multiple offers - Relocation or commuting expenses Remember that negotiating leverage matters — seniority and/or a specialized skillset increases the probability you can make bigger asks. — So many other gems relevant for startup job-seekers during this action-packed discussion. Check out the recording in the comments below #negotiation #gethired #jobsearch

Have you ever been tempted by a counteroffer when you're ready to leave a job? Let me share why this could be a career trap. I've seen many fall into the 'counter offer' pitfall – you're ready to leave, you get a better offer elsewhere, and suddenly your current employer wants to match it. It might feel like a win, but here's the catch: those reasons you wanted to leave? They're still there, lurking. Three months down the line, that extra 15% won't outweigh the issues that pushed you to look elsewhere. And if you do decide to leave later, you risk burning bridges. Your employer might feel betrayed after matching your offer. My advice? Think long-term. Like I tell my girls about dating – choose the place that values you consistently, not just when they're afraid to lose you. #CareerAdvice #CounterOfferCaution #CharleneWheeless #WiseDecisions #JobChange #CareerGrowth #LongTermThinking #RealTalk #LeadershipLessons