Negotiating Your New Salary – Know the Landscape!
The interview skills that you honed have been superb, and your ability to stay focused during the group interview was exemplary. The list of accomplishments on your resume gave you credibility, and your vision showed well.
Now, you have the pleasure of being selected for the job you coveted. Job one now is to make sure that you get a “deal” that you can live with. Too many sales professionals have avoided the discomfort of negotiating, which should be what you do best, and have settled for something that they later regret.
Salary- Know the Landscape
There is nothing more compelling for a sales professional than getting paid what they are worth. In order for this to happen for you, you need a brief education and awareness of the salary landscape. Getting what you deserve requires this understanding, as it is the basis for your ability to effectively negotiate. This requires some background, some homework, and a little bit of intuition.
The good part is that if you’re currently an employee of the desired company, you most likely have knowledge of their compensation. Also, the databank of information that you have accumulated during your business and sales career, no matter how long it has been, is useful.
One useful yet controversial “tool” that will help to define the landscape is called Glass Door. Many professionals from numerous occupations use this tool, and it is abused by just as many. One of the most common uses is to determine a baseline and as I explain further you will have better understanding of Glass Doors’ worth and veracity. I will provide a link to Glass Door’s site below, but first let me give you some caveats.
Glass Door depends on user/member reporting to build its database of information. Each participant must give up some information on himself or herself before having full access to the information provided by others in this database. It is extremely popular at this time, yet is probably to some degree a good place for “liars poker” as well. With that in mind, I suggest you take it with a “grain of salt.” It does not mean that you can’t use this in your quest for information, but you do need to do it with an understanding of the limitations of the tool. You can get to Glass Door by using this link, or putting http://www.glassdoor.com in your browser.
Glass Door gives you salary information on a number of different positions, including those involving sales and service. Interestingly enough, that may include sales positions at your current employer, as well as sales positions at your prospective employer. It also factors in your geographic area as well.
This gives you a jumping off point, as you look to understand what sales professionals of like experience and position will make. Keep in mind the Glass Door is not limited to sales.
This tool gives you more information than salary. Keep in perspective.
Before we leave this brief discussion on salary expectations and requests we should also recognize that the salary probably should not be your driving issue. You’re driving issue probably should be total compensation, and that should will be driven by the strength or weakness of the sales compensation plan that you are on. You will need a solid review of the plan to get an idea of your earning potential. You should ask questions liberally, and I would suggest that you see the mechanics of the plan using some real sales situations.
You should get this in spoken to in the offer letter.
Lock in your “Conditions”
I will simplify this to avoid confusion. Your “conditions” would be anything that is not salary and not employee benefit driven. This will include the following items:
- Territory
- Goal Expectations
- Expense allowance–per diem
- Company Vehicle
- Inherited business
- Inherited prospects
- Issues regarding assistance and support
- Expectations on any legal costs and issues regarding any non-competes or contracts
These items are important as well, and need to be negotiated just like the salary. I call them conditions because they are a condition of the agreement that should be observed by either party. These are part of the employment agreement and should be discussed and recorded.
Above all, get it in writing.
Lock-in your benefits
This is ultra important, not because it makes the job any less difficult, but because it makes the working conditions palatable.
I would include in that discussion the following items:
Vacation
Personal days
Employee Benefit Issues
You may not be negotiating employee benefit issues as they should be going “by the book”, yet you should get definite clarification on these issues and have a meeting of the minds as you will feel abused if you lose a dispute about these in the future.
Above all, get it in writing as no one wants to hear what you understood to be the deal; they want to see the agreement. Remember, as you have heard before, it is not what you know; it is what you can prove!
The Power of Commitment
I think that you know my sentiments reducing all agreements to writing. It is best for both sides. You should also be prepared to live with it. You negotiate for a living, and this is the most important negotiation that you are going to be involved with for years to come.
Do your homework, and be knowledgeable. Close the deal and get to the business of selling. No one likes surprises!
Next Post will cover the actual salary negotiations. Knowing the landscape puts you in position.
Good luck and good selling.
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