Compensation Negotiation Tips
|Clients often receive verbal offers of employment by phone before receiving an official written offer letter or employment agreement. We strongly encourage clients to take good notes when receiving a verbal offer, ask clarifying questions and inquire about items that aren’t mentioned, but not to say “yes” or “no” during that “offer” call. It’s a far better approach, and considerably more advantageous to the client, to then document and analyze what was said and compare it to the written offer before entering into any offer negotiation with the prospective new employer.|
When negotiating your compensation package for a new role, it is critical to first do your homework. It is clear that the same role can be set at very different salary ranges, and have different elements included in a total compensation package, depending upon a variety of factors, including, among other things, your industry segment, the size and financial condition of the company making you the offer, whether the company is public or private and, of course, your own experience and skill set. Be sure you know the range of compensation that the “market” places on your prospective role based on these and other factors so that you can negotiate a total compensation package that accurately reflects your value.