What does your total Compensation add up to? (Part 5 of 5) Have you taken into account your current, past and future financial and non-financial benefits?

Judith Cushman Compensation 0 Comments

Answer: The hiring process can easily take 6-months. Evaluate the benefits of staying with your company and how your earnings and promotional opportunities may improve. Also, family circumstances may dictate you stay where you are. Consider these issues early in the job hunting process; don’t make life-changing decisions under pressure. Your current situation may change for the better where you are. Your salary review may occur during the interviewing process. The increase may be significant and the new opportunity will be in a range that is now comparable to current earnings (so taking a new job is not worth the risk.) Or, you may quickly alert the potential new employer …

What does your total Compensation add up to? (Part 4 of 5) Have you taken into account your current, past and future financial and non-financial benefits?

Judith Cushman Compensation 0 Comments

Answer: Here is Part 4 in a series of 5 blog posts with check lists to jog your memory about financial and non-financial benefits. This list identifies benefits earned due to your longevity with your employer that you will leave behind. Some have no monetary value but are highly desirable and should be included in negotiations for a new job. Assuming there is a reasonable period of longevity at your current employer, you have amassed benefits that can’t be transferred. You will need to start again to replace those benefits. What are your vacation and medical benefits including time off and medical leave arrangements? Vacation days and medical leave (to …

What does your total Compensation add up to? (Part 3 of 5) Have you taken into account your current, past and future financial and non-financial benefits?

Judith Cushman Compensation 0 Comments

Answer: Here is Part 3 of a series of 5 blog posts with check lists to jog your memory about financial and non-financial benefits. This check list based on information gained from reviewing many corporate packages will help you document your benefits that are specific to your company. Part 3 – What benefits do you receive that are specific to your company (Situational Benefits)? Is there a special Dependent Care allowance to care for family members including young children paid from gross earnings? Additional business/educational travel and professional memberships—Do you have memberships in prestigious professional societies where you and your spouse attend the event? Education Benefits for you and your …

What does your total Compensation add up to? (Part 2 of 5) Have you taken into account your current, past and future financial and non-financial benefits?

Judith Cushman Compensation 0 Comments

Answer:  Here is Part 2 of a series of 5 blog posts with check lists to jog your memory about financial and non-financial benefits.  This check list will help you document your benefits that have a high value cash equivalency. Part 2 – What benefits do you receive that have a high value cash equivalency? Vehicle related benefits—do you have a company car? Are you reimbursed for vehicle usage for company business, repairs, etc? Parking privileges? What would you estimate is the cash value of this benefit? Retirement Program: do you have a 401K program? What is your contribution? What does the company contribute? If you leave before a full …

What does your total Compensation add up to? (Part 1 of 5) Have you taken into account your current, past and future financial and non-financial benefits?

Judith Cushman Compensation 0 Comments

Answer:  Here is Part 1 of a series of 5 blog posts with check lists to jog your memory about financial and non-financial benefits.  This check list will help you document and analyze your cash earnings. Part 1 – Compensation Check List: Earnings — Cash Compensation Base salary current (including the next 6-months since that is when the offer is most likely to be extended or a note mentioning today’s salary and the expected raise with an estimate of the higher earning) When was your last raise? What was the amount and the percentage? Is this a normal figure? How often is your salary review? (You may have a review …

What is the biggest misunderstanding relating to the question: “What is your compensation figure?”

Judith Cushman Compensation 0 Comments

Answer: There is no one number to give and the question is the wrong one to ask. Typically, when an HR Manager in an organization or a search firm executive is at the early stage of a search, s/he is looking for a number to keep it simple and to determine if you are in the ballpark they have in mind. At this point they are casting a wide net and if you give them a specific number it will most likely be the number they use right up until the offer stage, whether it is accurate or incomplete. And, this does not factor in changes in compensation through the …