By Jeff Altman, The Big Game Hunter
With kudos to salary.com, here is a list of benefits to consider negotiating for you C level or executive compensation plan.
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I thought I would do a video today about the kinds of things that executives / C level professionals can negotiate as part of their compensation plan in an effort to ensure that you cover all your bases.
I always want to start off by saying one thing. There are no rules. The only rule is that you do it in a way that you don’t present yourself as being adversarial, that you don’t muddy the waters for when you join the new organization and have them resent the fact that you squeezed the last ounce of blood out of for them.
For them, they may want to bring on board and hold it against you that you are a tough negotiator. So, you want to present yourself in a way where you appear collegial and have a smile on your face. With that, let me just walk you through some of the things that you might be able to negotiate depending upon your level.
I want to make clear, most of these are not for staff level individuals and if you can get some of these as a staff level person, God bless you. But you will understand why I say this is about executive negotiation.
It starts off, of course, with your salary, a signing bonus, annual incentive, your bonus for the year
A guaranteed minimum annual bonus.
Stock options.
Discounted on those options.
Restricted stock.
A loan to purchase the restricted stock.
A loan pay taxes
a loan to purchase a home.
Forgiveness of loan criteria.
The standard employee benefits.
Supplemental executive medical insurance.
Supplemental executive life insurance.
Supplemental executive retirement planning(SERP).
By the way, I want to give salary.com credit for this. They put together a great list here. So, again, this is an salary.com.
Nonqualified deferred compensation.
Club membership. First class air travel when you travel.
Financial, tax and executive estate planning services.
Legal planning services.
Use of a company plane.
A company car.
Tuition for your kids if they’re going to school or if they are in private school.
Golden parachute provisions.
Termination provisions and a tax gross up for taxable benefits.
When push comes to shove, the goal, of course, is to get as many of these as possible and to pick and choose your battles. After all, what’s going to be more important to you.
Seriously. What’s going to be most important to you in your next job or organization? Do you have other choices? Can you afford to sit on the sidelines for another six months before the next deal is proposed to you.
Figure all of this out in advance. I’m not saying to not negotiate courageously and not to negotiate what you’re entitled to. But I want to make sure that you pick the ones that are most important for you to get first and then all the ancillaries later on.
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ABOUT JEFF ALTMAN, THE BIG GAME HUNTER
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