Identify
all your interests
Both you and your
employer probably have concerns
or aspirations that are not strictly
monetary. You might want CFP
training without having to pay
for it. The employer can satisfy
this interest in more than one
way: by building a cushion into
the salary that would cover schooling
costs or paying for the schooling
on your behalf. You might also
want one flex day per week or
the ability to work from home
a few times a month. You may
value being able to leave by
five o'clock consistently to
pick up your children, rapid
promotions, a gym membership
or full health care.
Before you walk
in to the negotiation, prioritize
your various interests and identify
places where you are willing
to trade one thing of value for
something else. Is the salary
more important than stock options?
Is a gym membership more important
than a review and likely promotion
in six months?
When you negotiate
the terms of the deal, discover
what your employer's various
interests and reveal your own
insofar as this would benefit
you. Maybe the employer cannot
go above sixty-five grand and
still maintain equity of salary
within the company. Find out
whether the negotiator has full
decision-making capability, or
if he is representing someone
else who makes the compensation
decisions.
Your employer may
be able to offset a concession
on your part by paying for your
education, offering stock incentives,
or giving you a signing bonus.
Be creative.
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