Let's talk about the money

Let's talk about the money

When it comes to negotiating a job offer and salary it’s easier and smoother if there’s someone handling it on your behalf. But that’s only going to happen if you’re working with a consultant. So if you're on your own this post is for you.

When I'm not recruiting for companies I'm coaching people to shine and be successful in interviews.

I’ve recently helped two of my coaching clients to navigate the final stages of the recruitment process. One of them had been approached by a former boss who wanted her for his newly created executive team. He took the time to sell the dream but she was going through the formalities and negotiating her package with HR. The other, a business leader, had two offers on the table and wanted my help as a sounding board to weigh them both up.

As well as going through the 'what if?' scenarios I helped them to keep their feet on the ground.

It’s very exciting (and flattering) being courted for a role so having someone with good perspective standing in the wings is advisable when it comes to the negotiation.

 

If you haven't got someone in your corner these tips should help:

  • Be transparent about the components and structure of your current package. Outline any guaranteed bonuses and the dates they'll be paid out. And when it comes to giving a start date – be realistic and remember to factor in your commitments. Once you’ve had the conversation you can follow up with an email and provide the details in writing
  • Make it clear that you’re serious about the offer and then pick your points wisely –you don't want to keep going back and forth and be seen to be nitpicking
  • Package negotiations aren’t black and white – there’s lots of opportunity for grey so do look for flexibility with benefits, holiday allowance, working from home, four-day weeks, nine-day fortnights
  • Don't be too aggressive and heavy handed – aim for a win-win solution
  • Don’t compare apples with pears, if you’ve been used to a corporate business and you’re talking to a small brand then you might have to bite the bullet on some of your current perks
  • Keep perspective – job satisfaction isn’t all about money, it's the whole package – the opportunity, the people, and the culture
  • Don’t let your head get too big – allow the intelligence of your intuition and your ‘gut’ to inform your decision   
  • Do your own due diligence and behind the scenes referencing about the company and the people you’ll be working for as you go along
  • Be mindful when you’re negotiating – small details should be handled by HR not the CEO
  • Do keep in mind that there will be company constraints and accept that there may be sticking points
  • Do your negotiations face-to-face or on the phone then follow-up with an email
  • Don’t negotiate just for the sake of it