Interviewing, Sharing Your Overall Compensation & Negotiating the Offer

When is the timing appropriate to start discussing offer package when you are in the interview process? My advice for optimal outcomes for the individual and the company is quite simple.

Start early, be detailed and remain open. 

Yes, I am well aware of the states that have made it unlawful to ask current salary data and I personally believe that at the professional level that works against the individual. I am also aware of the opinions that you should not play your hand as to what you are currently making because it should have little influence on what the role is willing to pay. I discuss those subjects in Bypass Silly Salary Laws.

One of the most troubling practices of “human resources” and the interview process is the SINGLE LINE on the job application that requests information concerning your current salary and bonus. A single box / line for a company to inquire about your compensation? Really?

Your offer package should include all components of pay and incentives. At the proper time in the interview process, you should share all of the components of your package in an email with the company that you are interviewing with. The suggested list is below. I also recommend that you start out the email with the following:

Dear Hiring Manager. I continue to be very interested in the role that we are discussing. The market excites me and the role seems to be a great fit with where I would like to continue to develop my career. Opportunity is #1 for me. Compensation is also an important factor although not the primary driver. I have included a detailed inventory of my current package and I hope it can provide a guideline should we get to an offer stage. Looking forward to our next meeting.

• Base salary
• Last Raise and next expected increase. Both the percentage and timing.
• Bonus – when it is paid and historically what you have received.
• Long Term Incentives, commissions, spot bonuses or incentives.
• 401k or profit-sharing company contributions.
• Company benefits and yours and the company contribution.
• PTO / Vacation time.
• Relocation package if required.
• Any tuition reimbursement, relocation reimbursement that may be due if you leave the current employer.

Giving details of your total compensation package will much more likely secure you a better offer than not. Organizations do not like surprises. If there is a large disparity in your current package and what the company is willing to or able to pay, wouldn’t you like to find out now? Would you also like to know where they can bend and cannot? 

The timing of sharing this email and information varies.

There are a few decisions that you need to make along the way that will determine how early you share the details of your current compensation package. 

Most interview processes start with a telephone call and then move to a number of face-to-face interviews. The telephone interview is typically a meet & greet over the telephone and some basic information is exchanged and the role is further flushed out beyond the online job posting and both parties can decide is moving forward to an in-person interview makes sense.

Decision to be made. Are you going to further pursue the role in an exploratory fashion or does it already seriously interest you? If you are still in the exploratory mode, no need to share more than your current base and bonus with the future potential employer, however, let them know that you consider your total compensation package to include a number of other items beyond the base salary and bonus. That will set the table for later when you decide to share the rest of your package.

Negotiating your package is a lot simpler than people allow it to be. Check out Salary Negotiations at 30,000 feet.

Transparency, communication, respect, tolerance and understanding are all keys to successful offer packages. Remain patient and empathetic and you will get a better offer every time.