What's your strategy when negotiating for a higher TC?
I don’t have much experience (2 yoe) so feel free to prove me wrong, but a good approach is to make sure you get the highest possible bonus. Like if you didn’t use a recruiter, ask for the recruiting bonus. Also obviously leveraging other offers, you play 2 or more companies off each other.
First side to give a comp range or expectation is at a disadvantage.
If asked to give your salary expectations, how do you get out of giving your side first?
Something along the lines of, " I'm open to competitive offers."
Having another offer is the best way
Agree, if maximizing TC is the most important aspect for you. Get yourself connected with a few solid headhunter agencies.
The best way to do this is to walk into the conversation like you dont even need the offer. The rest comes naturally
Hardest to easiest negotiation is base, equity, sign-on bonus. The base will make the biggest impact on your TC over time and companies don’t want to give you much room to negotiate because of that. Try your hardest to get the most base because it will move the needle and is guaranteed money vs equity which is determined by the stock price. It also determines your annual bonus. The next best item to negotiate is equity. Equity is a little more flexible because you can make the case that the base is lower than what you expected. Be sure to calculate enough equity you need (not appreciated) at grant that equals about what you would lose by taking a lower base. Additionally, don’t forget to factor in the unvested RSU at your current company that you will leave. To make the case for higher equity is to let the recruiter know you are committed to staying with the company because it takes 4 yrs to vest fully. After all that is done, then you lastly try to negotiate sign-on bonus. The case for sign-on bonus is to let recruiter know that this amount you want is what you will leave behind at your current employer for the annual bonus by coming to their company. Companies will gladly give you more sign-on bonus to make you happy at negotiation time and seal the deal because it is only a one time payment they need to make to you and psychologically, it makes the candidate feel like they at least got something by negotiating. Of course having competing offers will greatly help you negotiate the above.
What exactly do you mean by factoring in unvested shares at current company? How do you factor in? Ex: current company shares are $50k/year ... new company is offering $100k/year but base is same (assume). Or in a different scenario, new company offers more base but reduce the stock... what will you do? Does factoring in mean making sure one get the equity that they have been getting in their current company?
Yes, make sure you get equity at least equal or more than you are due at your current company
Competing offer
Currently leaving Tesla but here was my strategy for doubling my TC. Get a few offers. Don't negotiate till you have them all in hand. Take your highest offer and make the company you least want beat that offee. Then continue up the chain till your offer is at its max point with the company you want. If you performed well on your interview these companies will give you large numbers
Are you a software engineer?
Have you actually tried this in the strategy?
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I personally was not able to negotiate at all with Netflix.
Same
What was their offer?