What do you do if you want to secure a higher salary and better compensation as an executive?

2 Timing Matters

Choosing the right moment to discuss compensation is almost as important as the negotiation itself. Aim for a time when the company is doing well financially, or right after a major success that you contributed to significantly. Performance review periods can also be opportune times, as they naturally invite discussions about your contributions and value. Avoid times of company struggle or budget freezes, as these circumstances are less likely to result in favorable outcomes.

3 Articulate Value

When you're at the negotiation table, it's not enough to state your desired salary. You must clearly articulate how you add value to the company. Use specific examples of your achievements, how you've met or exceeded goals, and any additional responsibilities you've taken on. Make it clear that your request for higher compensation is aligned with the value you bring. This approach shifts the conversation from a demand for more money to a discussion about investment in a valuable asset — you.

4 Be Strategic

A successful negotiation involves more than just asking for what you want; it requires a strategic approach. Consider the full compensation package, including bonuses, stock options, benefits, and other perks. Sometimes, non-monetary benefits can be equally valuable and may be more negotiable. Be prepared to prioritize your requests and know what you're willing to compromise on. This flexibility shows that you're reasonable and focused on finding a mutually beneficial arrangement.

5 Practice Diplomacy

Negotiation is an art that balances assertiveness with diplomacy. You want to be confident without appearing arrogant, and firm yet open to dialogue. Practice your pitch, anticipate potential objections from your employer, and prepare reasoned responses. Being diplomatic also means listening carefully to the other party's perspective and addressing their concerns while maintaining your stance on what you believe is fair compensation for your role.

6 Plan for Pushback

Expect some pushback and be prepared to handle it without getting defensive. If the initial response to your salary request is negative, seek to understand the reasoning. There may be factors such as budgetary constraints or company policies at play. Use this information to negotiate creatively — perhaps by proposing a phased salary increase or additional performance-based bonuses. The key is to maintain a constructive conversation that leads to an agreeable solution for both parties.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?