TRACEY’S PRACTICAL EMPLOYMENT TIP
OF THE MONTH*

OCTOBER 2007: THE TERMS OF YOUR EMPLOYMENT ARE NEGOTIABLE

The expression “everything is negotiable” is just as applicable in the employment setting as it is in any other. It is knowing when to negotiate, what to ask for and how to lay the ground work for the negotiation that makes all the difference.

When to negotiate is easy. You can, and should, seek to improve your position with regard to title, bonus, stock options, salary, severance or any other item of compensation and benefits at any point in the relationship. Just because you negotiated for a bonus when you first started does not mean that you should not open a dialogue about your boss’ expectations at the beginning of each new year of employment. Although I recommend that where possible you negotiate for severance at the onset of the relationship, even after you are terminated the amount of severance you are offered is highly negotiable.

The key to what to ask for is to understand that it must be reasonable. If you far exceed what others are getting or have gotten you may end the negotiation before it even starts. To determine what is reasonable is not always easy but the more you lay the groundwork for the negotiation through the determination and application of leverage, understanding what others have received and paying attention to office politics by keeping yourself in the spotlight through successful work the notion of what is reasonable will expand.

The final ingredient to keep in mind is that if you do not ask you will never know what is possible. And, if you ask in respectful manner, have a solid foundation for why you believe you deserve it and what you are seeking is reasonable the worst that can happen is your employer (or prospective employer) will say no. The world belongs to the bold so do not be afraid to take a risk

Next Month’s Tip: DON’T BE AFRAID OF LOOKING FOR ANOTHER JOB

Monthly Tip Archive

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* Disclaimer: The contents of this page are for informational purposes only and nothing herein is intended to constitute legal advice nor should anything contained herein be taken or relied on as such. Each individual executive and employee has a unique set of facts and circumstances that the general discussion set forth above may be wholly inapplicable to. Only through consultation with a lawyer from our firm in which all of the facts and circumstances of an individual’s unique situation are explored and considered can a true legal assessment of your rights and remedies be ascertained. Any use of this information is taken solely at your own risk.