Most deals come together quite cleanly, with little need for haggling or creative financing. Sometimes, though, it takes a little imagination to satisfy both parties.
Money can present a problem for employers when your salary requirements exceed the published range for the position, or create an inequity within the department. In fact, internal equity issues (in which your expected salary might be greater than someone on the staff who has more professional or company seniority) are the cause of most deals that fail to close for financial reasons.
To satisfy money matters, look for ways to increase your overall yearly compensation, rather than your annual salary. Here are a few added goodies you can shoot for to boost your earnings without ruffling too many feathers:
- A sign-on bonus to be paid in cash on your date of start;
- A performance bonus to be paid after thirty, sixty, or ninety days, assuming your clearly defined goals are met;
- A discretionary bonus to be paid in a lump sum, or over a specified period;
- A generous relocation bonus to be paid on your date of start to cover expenses (but which can be spent at your discretion);
- An accelerated review which would occur after three or six months, rather than on your first anniversary of employment, in which your salary would be increased; or
- Early participation in the company’s bonus, stock purchase, or pension plan; or other employee benefit program.
When required, companies will sometimes serve up these tasty morsels to hungry candidates who recognize that overall compensation consists of more than salary alone.
The craziest deal I ever put together involved a candidate who’d just purchased a home and was beyond commuting distance to the interested company. Since the candidate wouldn’t sell his home and relocate, the company president agreed to buy the candidate (who had a pilot’s license) a single engine airplane so he could fly to work each day. It just goes to show, where there’s a will, there’s a way.
Careful evaluation mixed with a little bit of creativity will help you get the deal you want.