Smart Lemming Diary: Will I Get an Offer?
July 1, 2005
Today, I’m hoping to receive a call from Tom, regarding the Director of Marketing position. Our meeting on Wednesday went well. We spent two and half hours discussing his expected sales revenue over the next six months from a key partnership, his direct sales, and future expectations. He responded very well to Needs Assessment I had sent him on Monday for this meeting. The Needs Assessment helped me identify his priorities for a 90-day plan. Surprisingly, we talked salary history and compensation expectations.
Needs Assessment Priorities
He didn’t share the assessment with the CTO or my inside contact, keeping it only for himself. The Needs Assessment identified four pages of deliverables with expected target dates, ranging from strategic to tactical. He told me he wanted, “Everything now,” but of course, he had to prioritize. During our meeting, I gave him 90-Day Plan outlining my recommended six initiatives that should concurrently take place based on the needs assessment from my perspective:
- Lead Generation
- Key Messaging Work Plan
- Sales Reference Guides
- Product Marketing for New Product in Development
- Initial Competitor Sale Tools
- Market Planning for 2006
Lesson Learned: Be On Guard at All Times
He closed the meeting by asking me my compensation history, taking me completely by surprise. I mistakenly told him my base (only for my former employer), but then followed up with total compensation. He paused as he gave me a blank stare. Then, proceeded to tell him that I’m only looking for “fair market value” based on the role and responsibilities of the position.
It’s a bummer that I blurted out some figures. I was caught off-guard by this question. I was able to regain my thoughts, as I told him that I had purchased the employer salary data set for his industry, company size, and for roles & responsibilities. He was then taken by surprise by this new information. “Wow, that’s more than I’ve done.”
Accommodating Time-Off & Schedule
After the compensation discussion, Tom asked me if there was anything else important besides salary base. I told him time-off. I’m sure he expected to hear stock options, but I’m more concerned with vacation time, since my mother’s getting older and I have to travel to her or bring her to me. I have two big trips per year with my Mother and Brother. Tom was fine, actually accommodating with this admission. He then offered to be flexible with my commute schedule. “Okay. I’ll put something together. Please send me your references…I’ll call you in the next 24 to 48 hours.”
Gun Shy or Issues with Salary Base?
Yesterday, I sent him my references, per his request, but he didn’t say he would contact them only that he’d like to have them. What’s interesting is that Tom wants to do something with me, but then hesitates; it’s always associated with money. He’s a cautious guy. I respect that, especially on money.
Compensation Concerns
I talked with a friend this morning, because I needed an objective perspective on the issue around compensation. I only want what’s fair for the roles & responsibilities and for the unique value that I could bring to his company. I don’t want to be taken advantage of. I know I have to balance his “eight-year old startup” constraints, so I’m trying to take that into consideration.
All I’m waiting on is: (1) Will he actually offer me the position; and (2) what he’ll propose for salary base and stock options. My buddy gave me a great line to use if Tom’s offer comes in lower than expected, “How did you arrive at that figure?” Besides this wonderful line, I also have my negotiation spreadsheet, so I can calculate the counter offers on the fly. It also measures how the initial offer and counter offers compare to my goals.
Similar Posts:
- Smart Lemming Diary: 6 Tips on Salary Negotiations for Total Compensation Package
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- Smart Lemming Diary: Assessing Priorities for 90-Day Plan & Salary Negotiations
- Smart Lemming Diary: Former Sales Colleague Interviews Well
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