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Can I get some tips on either negotiating for or getting signing bonuses or contracts or guarantees in a written offer....and which is better.
I may be interviewing for an exec job with a major company which would meaning leaving my current job after 18 years....obviously I'd like a much guaranteed money as possible. (just in case we ever have to part ways)
I know it could go so many ways...
Do people at the exec level BS around (with "draw up a total compensation package and I'll have my advisors look it over and we'll get back to you") -- or cut right to the chase and say they'll "need a signing bonus of X, and a contractual guarantee of y."
This would be my first exec level compensation negotiation and I don't want to come off as naive -- and not even ASK for stuff that everyone else knows is standard. ( I already know the job comes with "equity."
Should I find an agent to quickly represent me... or just try to do my own negotiating. Is it expected at that level that you're not doing you own negotiating.
At your level, the question comes down to "what is market". If possible, I would hire someone (although I'm not sure who, maybe a well established executive recruiter) to negotiate for you and inform you about what market is in that particular industry and/or geographic area.
Another option (assuming your peer/competitor companies are public companies and that your management role is a major/senior role) is to go to the SEC EDGAR website and pull exec compensation agreements. Public companies must make this info public. Then go through those and try and get an idea of what is market. This can be a considerable amount of legwork, more so if you are not familiar with EDGAR. There isn't a link for a category of compensation agreements, you will have to wade through all the filings until you find one. It could be dozens or hundreds of docs, but it can be done.
If anyone has any tales or stories of negotiating for signing bonuses/contracts/ contract guarantees I’d appreciate it.
Sorry jaypee…make that 40 EVPs or SVPs, across all divisions.
It’s a top 100 multi-national, multi industry company with each division having its own president, leadership and structures and a top corporate parent company. (like GE for example has companies under its corporate umbrella. It’s not GE, that was just an idea of what I’m talking about. I cannot ID the company)
This gig would be with the parent company at headquarters
I’ve found some salary help.
I have a job so I might as well ask for what I want
I’ve been where I am 18 years, to RELOCATE –AND leave that for a new environment you’re darn right I’m going to ask for a contractural guarantee. If I go and things don’t work out – you best believe I want some kind of minimum guarantee in terms of separation package.
(I found an explanation of stock options vs stock purchase plans (what’s the difference and which is better).
I was just looking for advice on the kinds of things execs get as part of their compensation that someone else wouldn’t know to even ask for.
Depending on the field I know execs MIGHT get a car, and basic stuff like company computer, PDA, free parking, assigned parking. But I’m thinking that’s peanuts compared to what could be asked for.
Can we make this a general conversation about executive compensation? It could be a learning experience for a lot of people.
base salary
incentive pay, with a short-term focus, usually in the form of a bonus
incentive pay, with a long-term focus, usually in some combination of stock awards, option awards, non-equity incentive plan compensation
enhanced benefits package that usually includes a Supplemental Executive Retirement Plan (SERP)
extra benefits and perquisites, such as cars and club memberships
deferred compensation earnings
relocation expenses including buying your current
a say in your staff and managers working for you
supplemental life insurance- they may require this
executive health check ups- they may require this as well
use of travel assets
and of course the severance guarantees I mentioned (the term 'golden parachute' has such a negative connotation, now)
.....all contractually guaranteed -- of course.
I may not get any of these things at all and if not so be it.
I HAVE a union covered job that I can do blindfolded at a major company -- so I may end of saying no to a new job anyway.
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