CORPORATE COUNSEL WOMEN OF COLOR 12TH ANNUAL CAREER STRATEGIES CONFERENCE September 21-23, Las Vegas, Nevada SALARY NEGOTIATION WORKSHOP

Three Questions What can you offer? What do you want? If the answer is no?

What can you offer? What is your story? People hire people. What are you doing now and why do you want to move? Don’t embellish! Honesty is very appealing trait! What have you done? Make a list of projects that you have handled; include specifics about the problems encountered and how you have resolved them What are your soft skills? Do you have experience dealing with difficult people? Are you good at achieving consensus and at keeping the project moving?

What do you want? Know the market What do similar positions at other companies pay? What benefits do people in your position generally receive? Pay scales in the geographic area? Who do people with your level of experience make?

What do you want? Know your desired career path; where do you want to be a few years from now? Power (more control over how to do the job, resources or people) Compensation Flexibility

What do you want? Negotiate for more than base salary Benefits (typically 30% of total compensation) Health plan Employer contributions to 401(k) plan Pension plan Bonus Equity compensation, severance, change of control Think about vesting, know what happens if you were to be terminated?

What do you want? What is realistic? Know what you can negotiate for (e.g., bonus) and what are generally non-negotiable items (e.g., pension plan benefits) Know the ballpark of salary/benefits for the position You don’t want to lowball your ask but you don’t want to look clueless either Know what you will be leaving at the table at your current job Annual bonus Unvested equity compensation

What do you want? Think about: Best case scenario? Alternative best case scenarios? What can you live with? What is your walk-away scenario?

What do you want? If the answer is yes! Don’t accept on the spot! Yes, we would like to hire you! Lets talk compensation. What is your current salary? Tip: don’t be the first to come up with a number Don’t be afraid to get clarification on job description, bonus structure, details of any performance goals regarding bonus Request to get the details in writing

If the answer is no… Be prepared to counter offer If unable to negotiate a higher base salary, consider asking for a higher bonus, or a guaranteed raise the following year If cannot get an annual bonus, consider asking for a performance bonus Have a reason for the ask E.g., tie signing bonus to money that you will be leaving at the table when you leave your current job E.g., if moving to a higher cost region, tie a higher salary to cost of living in the area or to salaries offered in that market Feel free to back up your ask with facts and figures

If the answer is no… Don’t give ultimatums Don’t bluff E.g., don’t say this is the lowest I am prepared to go UNLESS the number is indeed your walk-away number If you do end up having to give an ultimatum, do it nicely! Give the other person an out (I understand if you are unable to go higher because of your internal pay structure but…) Don’t bluff Say you have another offer when you don’t have an offer Say you will leave if you are not prepared to walk out the door

To discuss… Why do you want to move? What is your current salary? What are your salary expectations? We are sorry but the salary that you are asking for is above the salary band for this position. I am sorry but we cannot promote you this year.