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

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

3. 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?

4. 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?

5. 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

6. 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?

7. 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

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

9. 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

10. 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

11. 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

12. 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.