Advice from Coffee & Conversation

I am not being represented by a search firm; therefore, I need to negotiate my own compensation package. I know the company is going to offer less money than my current compensation. What should I do?

The advice that came from one of our “Coffee & Conversation” forums was:

The candidate had to come to the compensation discussion fully prepared with data. They would need to reaffirm what they are being asked to do and demonstrate how comparable roles are paid at other companies.

We had one participant that was being considered for a Vice President role for a startup company. There were only 50 employees, but the company’s intent was to grow to several hundred employees. They felt they should pay this Vice President below the market value because they had so few employees. She had to demonstrate that the work was the same for 50 employees as for 500 employees and she was also able to articulate the value she would add to the organization to help it grow.

Another participant was in a similar situation. He interviewed for a Vice President role and the compensation he was offered came in close to $100K less than his prior compensation. The candidate really wanted this job. He liked the CEO and connected to the mission of the company.  The “Coffee & Conversation” forum helped him to be creative. He told the CEO that he would take the role at the lower pay if he could have a clause built into his employment contract stating that if he exceeded expectations, his pay the second year would reward the value he added to the company. (He would get the $100K and perhaps even more.)  It was a “pay for performance” solution.

I made a “mistake” when I joined my last organization. The culture just wasn’t right. How can I learn about the real culture of a company while I’m in the throes of interviewing with that company and not when it’s too late?

If you look at a mission statement for any company, they all use the similar verbiage. No company is going to say “Gee, we’re unethical and we’re run like a dictatorship.” How do you get to the heart of a corporate culture while still in the interviewing stage?

The participants of one of our “Coffee & Conversation” small networking groups said it was important to ask questions of every person you meet during your interview process. Their answers will help paint a picture. Remember, a company is not just interviewing you; you’re interviewing the company as well.

They also advised that the candidate contact search firms and consulting firms. A search firm’s area of expertise is corporate cultures and they can be extremely helpful in getting to the core.

One of the participants in our “Coffee & Conversation” networking group interviewed with a major pharmaceutical company. The company had a wonderful reputation. Although their products are fabulous (which is why they had such a strong reputation) this individual was interviewing for a staff role. The corporate culture, for those who were not in R&D, meant limited career opportunities.  This participant obtained these insights by speaking with three different search consultants who knew the organization.

“I’m discouraged. I’ve been out of work for 6 months with very few interviews over that time span. How can I keep myself motivated?“

The majority of advice from the networking group was not to focus on a job search 24/7. If phone calls are not being returned and/or people are curt because they’re short on time, your day can be downright depressing.

Candidates who are emotionally “healthy” find a balance between looking for a job and doing “something else”.  For some candidates it means getting involved in a not-for-profit.  One individual talked about how he was named the project manager for his Habitat for Humanity team and how good that recognition made him feel; other candidates taught at the college level. Most major cities have universities and colleges which offer continuing education courses. They love to hire adjuncts with real-time work experience.

One participant in our “Coffee & Conversation” networking group discussed how she was selected to teach an 8-week course in her area of expertise. She had to write the syllabus, select the reading material, get interesting speakers and devise a final project. She said it was a lot of work but it was very rewarding.  Several candidates said they looked for consulting opportunities. This route wasn’t that easy, because it involved “selling”—either selling their practice or selling to another consulting firm to sign them up as a contract consultant.  In addition, if they were engaged in a consulting assignment, they had to remember not to get too caught up in the project and to continue to devote time to their job search.