I'm 31 and have been offered an SVP of Global Sales and Ops position. I'm happy to negotiate the salary myself but have no idea how to negotiate travel, expenses, healthcare; etc. can someone with experience please help?
OT: first time executive role - negotiation help needed
- Thread starter KeithK7624
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Generally, companies have well-defined policies related to things like expenses and healthcare so there wouldn't be a lot to negotiate.
Focus on cash compensation, i.e. salary and bonus.
Seriously- are you working with a headhunter or alone? Headhunter could help here.
Would think that healthcare would not be negotiable.
Travel expenses are typically covered.
Car allowance?
Congratulations on the offer.
Congrats on the job offer. Make sure you get a nice hookers and blow per-diem.
You want to look at the entire compensation package including salary, bonus, how bonuses are awarded, stock options or RSU if applicable, defined benefit or defined compensation plan (not that you can negotiate that or health care but these should be considered as part of the compensation package), vacation, travel reimbursement and travel policies, possible career path opportunities, etc. In my opinion it's reasonable to ask for a written offer that covers these areas. You need to view the big picture and then decide which areas you may want to emphasize.
SVP at 31 is pretty sweet - remember to donate a few hundred million to RU sports after you make CEO. If you've made it that far that quick, not sure you really need to be taking advice from anyone on this board.
don't forget stock options and vacation time. get whatever you can.
Except for me, because my advice was awesome.
I agree with the advice above. Most companies have policies in place for benefits including whether you get a car allowance/company car. If this is a start-up/small company, and they do not have policies in place, then use your existing situation as a point of reference and negotiate from there.
Of course, comp. and upside opportunity are most important, but almost as important, in my experience, is, getting an employment agreement vs. just being an at will employee. If you cannot get an employment agreement, then see if you can get a severance agreement. Good luck.
Of course, comp. and upside opportunity are most important, but almost as important, in my experience, is, getting an employment agreement vs. just being an at will employee. If you cannot get an employment agreement, then see if you can get a severance agreement. Good luck.
I agree with most of the comments here and will add this: remember that the best deal you will ever make with this company is the first deal, before you accept their job offer.
Also, if you believe in your ability to help grow sales, put extra performance bonus clauses in there, even if some of them seem outrageously unattainable. That will impress them, and if you happen to hit the pie-in-the-sky goal(s), you will be richly rewarded.
Also, if you believe in your ability to help grow sales, put extra performance bonus clauses in there, even if some of them seem outrageously unattainable. That will impress them, and if you happen to hit the pie-in-the-sky goal(s), you will be richly rewarded.
What you are asking may not be worth it? Companies don't have much of a latitude to negotiate what you are asking.
I would focus on something that does not cost them much but could pay off in a big way for you..
1) Training so you can develop new skills. This makes you look like a go-getter and it benefits them too.
2) Quarterly one on one off-site breakfast meeting with the CEO to discuss how you can help him with his strategy for growth; this will put you on C-level track.
3) Attend at least two significant conferences to network and learn what others are doing
Think big and strategically.
I would focus on something that does not cost them much but could pay off in a big way for you..
1) Training so you can develop new skills. This makes you look like a go-getter and it benefits them too.
2) Quarterly one on one off-site breakfast meeting with the CEO to discuss how you can help him with his strategy for growth; this will put you on C-level track.
3) Attend at least two significant conferences to network and learn what others are doing
Think big and strategically.
Thanks all. The current salary offer is 25% more than I'm making, 3 month sign on bonus, 3 year contract, with 1 year guarantee, and 6 month buy out. I instantly want to accept. But I've been told to negotiate travel allowance and policy as there will be a lot of international travel, international healthcare, etc. these benefits are new to me so I want to see if there's anything I'm missing.
For international travel, it's really nice and also more productive to be able to travel business class. See if you can get that. Will you keep the miles or do they go back to the company. Congrats!!
it all sounded great until you said India...JK
Congrats, travel is personal but you should talk to a professional about international insurance.
Some good advice. I was wondering about the expenses part as many have stated that it is usually standard but if you are in India, I can understand it and it is actually more about allowance and travel rather than expenses. Best thing to do is understand their current travel policy first then negotiate only if you have to. Make sure of business class and see if you keep your miles. That is a big one.
Vacation and or remote work is also big as well. Does your line of work have any big conferences that you would like to attend, have those included as well. Things like meeting with CEO and or "strategy planning" that is part of the interview process to build yourself up, don't waste negotiations on things that are not monetary or time...
And congrats
Vacation and or remote work is also big as well. Does your line of work have any big conferences that you would like to attend, have those included as well. Things like meeting with CEO and or "strategy planning" that is part of the interview process to build yourself up, don't waste negotiations on things that are not monetary or time...
And congrats
Are you a contract or at-will employee? If you are contract, the terms there are your primary concern.
My wife went to Duke for law school. Not worried about the In and outs. I'll be on contract.
Hopefully she is well versed in employment and contract law. I consider it to be a specialized field, and I know more than one executive that got screwed over by a missed clause. The choice of law on the document would be interesting with your place of employment.
With your foreign income I would also have a good tax lawyer in speed dial.
I've never heard of a "travel allowance." Any reasonable company's travel policy should cover all travel expenses...employee should never be "out of pocket" for business travel.
Having a car allowance is a separate thing from a travel allowance. These often default to being taxable income, and therefore isn't a true trade off to expense reimbursements.
Regarding travel, most companies do have very standardized travel policies. These policies don't just exist on a whim, most are designed to comply with IRS guidelines. That being said, person above mentioned business class travel. I have seen new hires sometimes include in their contract that they are able to use business class (or even first class for a really high level exec). I think most corporate policies are that domestic flights (4 hours or less) should be economy and international (>4 hours) can be business..
FWIW, when I worked outside my home country part of the employment agreement is that the company paid for all my income tax work. It would routinely run in to the several thousands per year, so definitely something you want to consider if working outside your home country. At the company I was working for this was a common practice, but not sure if it is common for all companies.
Negotiate for x number of trips home per year. See if you can get at least 2 that they will cover in full. Airfare, car rentals, hotel, time off, etc. You probably want to negotiate for 4 weeks vacation if that is not standard, given the travel load and distance from home.
You may also want to negotiate flex time with business travel --- day off after 24 hour flight, coming in later in the morning day after an overseas trip or a red eye,etc.
As others stated-- anything work related should be pretty well defined by company. Travel expenses may be per diem or up to certain maximums (but, again, they usually are well defined not negotiable). Healthcare for your "home" country (sounds like India here) again should be well defined as part of job (though I have seen it negotiable due to local customs outside of the US). You want to be sure you understand any in-pat/ex-pat healthcare/emergency evac/repatriation coverage if you are doing international travel (but, again - it's usually pre-defined by the employer).
Salary, signing bonus, annual bonuses, stock options, termination buy-outs are usually the things you negotiate.... possibly participation in any executive bonus programs or vacation days and/or they "level/type" of benefit program you participation in as an employee (though - again, those are usually pre-defined by the company's policies).
If you are living away from home - living expenses (e.g., rent and/or living allowance) and return travel to visit family may be up for discussion. Also things like car allowance, driver or even a security allowance can be discussed (usually for executives on overseas assignment). You may also be able to discuss reimbursement for financial consulting/tax pre-patriation services if doing a lot of travel--- but again (to be repetitive) if this company has done this stuff before...the rules/coverage/benefits (or at least the options) should be pre-defined.
Salary, signing bonus, annual bonuses, stock options, termination buy-outs are usually the things you negotiate.... possibly participation in any executive bonus programs or vacation days and/or they "level/type" of benefit program you participation in as an employee (though - again, those are usually pre-defined by the company's policies).
If you are living away from home - living expenses (e.g., rent and/or living allowance) and return travel to visit family may be up for discussion. Also things like car allowance, driver or even a security allowance can be discussed (usually for executives on overseas assignment). You may also be able to discuss reimbursement for financial consulting/tax pre-patriation services if doing a lot of travel--- but again (to be repetitive) if this company has done this stuff before...the rules/coverage/benefits (or at least the options) should be pre-defined.
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Are they classifying you as an American expat employee (as I assume your current gig is)? And are they going to pay you in dollars instead of rupees?
As mentioned above, keep a good tax advisor handy and have them cover your expenses to file federal taxes in the U.S. as an expat.
As mentioned above, keep a good tax advisor handy and have them cover your expenses to file federal taxes in the U.S. as an expat.
I just came back from a 3 year ex-pat assignment. Everything is possible and you just need to know what you are willing to push for.
So first I am assuming you are an American Citizen if so - then make sure you are tax equalized. Also you should ask about location or hardship allowances. Search the web for expats in India to see what typical packages are. We found a group for our country and it was very helpful.
Negotiate travel back for you and your family back home (both quantity and class - it is negiotiable also ask for the value and not the actual tickets)
Driver and car is negiotable.
Where you will get paid is negotiable and a choice between US and local currency will be possible.
Your rent / housing allowance is negotiable. If you have children, school in international schools should be included.
International SOS should be included which in cases of medical emergency would help with evacuations.
Always get it in writing. Didn't realize the OP was dealing with something outside the USA, so my initial post is somewhat irrelevant.
You went from the call center to SVP!? Impressive!
Is the company Indian? Are there cultural issues to consider in the negotiation? I'd recommend talking to someone in the company, but not in your chain of command who could serve as a bit of a mentor. You might also want to talk to someone in HR.
How do you like living in India?
Is the company Indian? Are there cultural issues to consider in the negotiation? I'd recommend talking to someone in the company, but not in your chain of command who could serve as a bit of a mentor. You might also want to talk to someone in HR.
How do you like living in India?
To be blunt, get a good employment lawyer. I have used them as both an employee and as an employer and the good ones have saved me more than I have paid them in fees by an order of magnitude. The bad ones have hurt me tremendously (and the worst one I used was a huge, well known NYC firm).
I have many lawyers in my family - none practice this type of law, so I won't use them - its simply too specialized
I can refer you to a few excellent ones if you reach out to me
Add in season tickets to Rutgers football and basketball. Doesn't hurt to ask.
Thanks all for your responses. Some valuable things to consider and things I would have never even thought of.
But yes, I've been living in India for about 18 months and maintain my season tickets. This year I'll only make it to about 3 games!
But yes, I've been living in India for about 18 months and maintain my season tickets. This year I'll only make it to about 3 games!
I would try to remove or reduce the 3 year contract. I basically signed something like that when I hopped into an AVP role 2 years ago and a few months in I felt "trapped". It's one of those weird psychological things, at least it is for me.
Also, with salary always ask for more. They're expecting you to counter and ignore what any recruiter tells you is impossible to get.
Also, with salary always ask for more. They're expecting you to counter and ignore what any recruiter tells you is impossible to get.
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