Good Executive Salary Negotiation Tips
Executive Salary Negotiation Tips: To benefit most from executive salary negotiation tips at interview, ExecutiveCV.net highlights some important tips to improve relative control, bargaining power and overall success in terms of optimising salary, benefits and other incentives with employers. ExecutiveCV.net recommends the following actions and considerations to negotiate a higher executive salary. For more detailed information, please see our Executive Salary Negotiation Strategy and Executive Salary Negotiation Process pages.
TOP EXECUTIVE SALARY NEGOTIATION TIPS
- Research the Company, job market and competition to benchmark salaries and other benefits.
- Identify unique selling points (USPs) – give solid examples, achievements and evidence at interview.
- Evaluate salary needs based on lifestyle / economic factors – define a minimum acceptable salary.
- Be prepared to negotiate – let employers negotiate downwards if asking for a slightly higher salary.
- Be confident, know your stuff and be prepared to fully justify the salary expectations at interview.
- Consider the whole package, not just salary – there maybe other benefits and incentives on offer.
- Find out why the vacancy has arisen – this can provide important clues for a good salary strategy.
- Be prepared to discuss salary expectations at anytime during the selection and interview process.
- Achieving a formal offer of employment increases relative bargaining power – they are interested!
- Try negotiating on terms other than salary – there maybe incentives, benefits and other aspects.
- If salary expectations are too low, politely ask if there is room for negotiation – be very realistic.
- Avoid playing salary catch up for years to come – do not set salary expectations too low initially.
This is just a brief overview about deploying executive salary negotiation tips and skills. However, everything is underpinned by effective research and planning to derive an overall strategy, whilst understanding the processes involved can give executives a perceived advantage at interview. Similar principles apply for when negotiating pay rises with employers. Our other articles on Executive Salary Negotiation Strategy and Executive Salary Negotiation Process go into more detail about the whole executive interview salary negotiation agenda.
EXECUTIVE SALARY NEGOTIATION TIPS: CONCLUSION
Perhaps the most important thing to take away from Executive Salary Negotiation Tips is the need for effective research, good preparation and to be armed with a strong strategy that gives some flexibility and room for negotiation. If nothing else, take forward the above Executive Salary Negotiation Tips to provide the basis of an outline framework for successful salary negotiation.