Author Topic: Negotiating salary, how to push for more base pay?  (Read 2864 times)

big_slacker

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Negotiating salary, how to push for more base pay?
« on: August 10, 2015, 08:44:21 AM »
Getting ready to do this later today. Offer has come in thats good. Signing bonus, stock bonus (vested over 5 years) and a better lifestyle for me as a now family man. I'm going to take the job, however...

The base pay is higher than I make now, but bonus is smaller and only once a year instead of quarterly. At the end of the year it's basically identical to current wages. So I plan on trying to negotiate a higher base pay. A friend of mine who was hired there last year tried in 3 different exchanges to get higher base and was turned down. He has told me the amount is dead center in the middle of the salary range for the position. They did come up on signing bonus and stock for him, but that's one time vs. repeating.

I plan on showing that at my current gig I was given a retention bonus to hold on to me as an employee as well as cash awards for good work. I've saved more than one problem account, taking them from possible lost customers to repeat business. So I bring real monetary value to my work.

Is this the way to approach it, or should I be taking another tack? Any suggestions are welcome, I'd love to have some outside opinions on this!

Cap_Scarlet

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Re: Negotiating salary, how to push for more base pay?
« Reply #1 on: August 10, 2015, 09:39:46 AM »
Getting ready to do this later today. Offer has come in thats good. Signing bonus, stock bonus (vested over 5 years) and a better lifestyle for me as a now family man. I'm going to take the job, however...

The base pay is higher than I make now, but bonus is smaller and only once a year instead of quarterly. At the end of the year it's basically identical to current wages. So I plan on trying to negotiate a higher base pay. A friend of mine who was hired there last year tried in 3 different exchanges to get higher base and was turned down. He has told me the amount is dead center in the middle of the salary range for the position. They did come up on signing bonus and stock for him, but that's one time vs. repeating.

I plan on showing that at my current gig I was given a retention bonus to hold on to me as an employee as well as cash awards for good work. I've saved more than one problem account, taking them from possible lost customers to repeat business. So I bring real monetary value to my work.

Is this the way to approach it, or should I be taking another tack? Any suggestions are welcome, I'd love to have some outside opinions on this!

If it was me conducting the interview then I would say "look, if you are as good as you say you are then I will pay you a higher end of year bonus [on achievement of goals a, B & C]" you have to demonstrate to them there is upside for them.  It sounds to me like you want them more than they want you (but difficult to say from what you've written), so you have to avoid potentially souring the relationship from the get-go.

mxt0133

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Re: Negotiating salary, how to push for more base pay?
« Reply #2 on: August 10, 2015, 09:56:47 AM »
Are you happy with the overall compensation package?  How does the benefits compare?  Time off?  Would you be loosing tenure based vacation days?

I just went through a round of negotiations and one tactic is to get the other party invested in the deal.  Meaning if you can't agree on the salary then do everything you can to continue the negotiations.  Something along the lines of "ok, let's assume that we can come to an agreement on the base salary, can we talk about vacation days, working from home, ect."  Basically get agreement on a few little things, build goodwill during negotiations where both parties feel like it is a win-win for everyone.  Then you can go back to the main issue.

Also be firm with regard to what your base is, with out revealing it.  Do not make ultimatums, like "if you can't give me X then I'll walk".  Showing signs of you not being flexible is a sure way to end negotiations.  Present it as a problem that the other party can help solve.  Something like, "I really think that the position is a perfect fit for me and I would give it 110% if I were given the opportunity to join your company but the financial package is an issue, is there anything that we can work out that would benefit both parties?"

yandz

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Re: Negotiating salary, how to push for more base pay?
« Reply #3 on: August 10, 2015, 10:31:05 AM »
I don't even know if you have to go into as many details as you are planning to - it might even weaken your case.  Right off the bat, I would just keep in short and sweet.

"While I want to come work here, I need the compensation package to reflect my market value and the value I know I bring to the company. To make the move it, I would be looking for something closer to $XXX, can you meet me there?"

If you later need to justify why that is your market value, sure, pull out info from your last job, but don't start there.  And don't use your friend's experience as baseline, you don't know how s/he handled it.

I have been successful at negotiating raises when I have been paid "dead center of salary range" because, "Yeah, that is average. Employer, you and I both know I am not average. I bring above average value (backed up with facts) and get above average performance reviews (in my file, take a look), so my salary should match."  That is when I was working somewhere...if they bring that up here I think I would ask them if they offered the job to someone they thought was average?

This is always a good read before you start negotiating, though I agree with this article in saying that you started negotiating before you even applied...
http://www.kalzumeus.com/2012/01/23/salary-negotiation/

big_slacker

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Re: Negotiating salary, how to push for more base pay?
« Reply #4 on: August 10, 2015, 01:18:16 PM »
Well, got them to come up!

I just said that it was lower than I expected and only a lateral move for me, then the number I was looking for. They came fairly close to that and a little bit more stock.

Thanks all!

2Birds1Stone

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Re: Negotiating salary, how to push for more base pay?
« Reply #5 on: August 10, 2015, 01:39:17 PM »
Congrats!