Successful Negotiation of Thousands of Packages
While they may be excellent company negotiators, we have seen many strong people
leave serious money on the table when it came to negotiating their own package.
Since most people seldom face this experience, it should come as no surprise that few of us are real experts at negotiating for ourselves.
We equip each client with our system for negotiating, which involves a soft sell, negotiating skillfully and with dignity. Negotiating is not just about money, but the nature of the job and everything that goes with it.
Many clients have commented that our negotiation advice has increased their income by tens of thousands of dollars. In this discussion, we will share some of the principles we have learned through our involvement with thousands of negotiations.
In a world of complex negotiations, our goal is to help you negotiate a financial package that is attractive at this stage of your career. For some, this can mean a higher guaranteed income. For others, equity with a big upside is preferred and salary is secondary.
We handled a marketing executive for Kellogg in Michigan. He wanted to have his family move to a new area that met outdoor lifestyle requirements, and he suggested to us that a 20 percent reduction in income would be acceptable.
However, after a three-month search, he accepted a top position with a firm in Boca Raton. When negotiated, his compensation was actually 15 percent higher, and he received a signing bonus as well.
Another executive was based in New Jersey with Johnson & Johnson. He left his large company career behind when he was retained by a venture capital group. His assignment was to oversee ventures which the firm funded by serving as acting CEO. He was to complete the initial setup, find a permanent CEO, and then move on to another assignment, but remain on the Board.
Based in Castle Pines, Colorado, he will handle two ventures simultaneously for six- month periods-eight over two years. His base of $200,000 was a decrease, but if just one firm goes public, his equity benefit will be in the millions. Needless to say, the final staging of executive negotiations didn't just happen.