A job offer may seem like the solution to executive career woes, but that anticipated phone call is only the beginning. Salary negotiation is a minefield, even for execs experienced in the art of asking for more, and periods of unemployment often put professionals in a “take what I can get” mentality. Stop settling for mediocre pay. Negotiate a salary worthy of your expertise.
4 Tips for Negotiating an Executive Salary
Know market value. What are professionals with your experience, skills, and talent for growth earning from your potential new employer? Google takes most of the guesswork out of researching salaries for specific positions, even within specific companies. Do a quick internet search of your title + “salary” or “compensation.” For more specific information, use the salary estimation feature on almost any job aggregator website.- Negotiate smart bonuses. It doesn’t matter how generous the bonus structure is if the criteria are unattainable. Before accepting a job offer, research how frequently the company pays out bonuses to high level employees. If payouts are low, renegotiate your bonuses before accepting the job.
- Be vocal. Many companies are more willing to bend than they lead candidates to believe. Be upfront about your deal breakers, whether those include salary, bonuses, healthcare plans, or paid vacation.
- Ask about resource allocation. How well will your employer equip you to succeed? Think beyond base salary and bonuses to the resources you’ll need to excel. Will your company give you a team, financial resources, and an opportunity to promote growth? If not, you’re likely fighting a losing battle, no matter how extraordinary the benefits may be.
For more information on career building and negotiating executive compensation, contact Colleen at Executive Resumes Atlanta.