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Whether you are relocating to a new city, or just changing jobs seeking better executive compensation, the only time you are truly able to obtain a solid increase in compensation and benefits is when you are negotiating a job offer with a new company. As you know, once you become an employee, you must wait until the next annual salary review; and then you only get a small percentage increase. You cannot change any other terms of your original employment agreement after you have signed it. Get what you deserve now through compensation negotiations--protect your career and financial future.

One of the comments I hear most often from executives is the struggle to negotiate their salary when the offer is presented. This is especially true for executives who have been conducting an executive job search for some time and wish to return to the workforce as soon as possible. Some think being too demanding when negotiating executive compensation might jeopardize their job offer.
 
Let’s take a look at three mistakes you can avoid when negotiating your salary.
 

Earlier today, BlueSteps hosted the #ExecCareer Compensation TweetChat featuring our expert BlueSteps Executive Career Services (BECS) panelists. Our expert career panelists, Barbara Safani and Louise Kursmark, provided very informative and useful answers for all in attendance.
 
If you missed it, catch up on all the excellent advice that was given in the Storyfy transcript below. Topics covered included:

The AESC BlueSteps survey of 778 executives was conducted in September 2013 and included responses from CEOs, CFOs, Board Members, Senior VPs, VPs and other management worldwide, including 53 percent from the Americas, 35 percent from EMEA and 12 percent from Asia/Pacific.

“This BlueSteps report highlights the inconsistencies in perception about C-suite executives, in contrast to the high profile cases of robust corner office salaries,” said Peter Felix, President and CEO of AESC. “On the contrary, for most senior executives in our survey salary increases and bonuses have only modestly begun to rise after the financial crisis.”

The 2014 AESC’s BlueSteps Executive Compensation survey was conducted from October 2014 to November 2014 and received 907 responses from senior-level executives across the world. The purpose of this survey was to better understand trends in global executive compensation and provide a unique benchmarking resource, providing executive compensation information across a wide range of industries, functional roles and regions.


Total Compensation on the Rise for Most Executives

AESC’s BlueSteps survey of 778 members finds C-suite salaries drop while other management compensation rises; gender gap narrowing in executive suite

When choosing your career path, it is often said that one must choose between job satisfaction and salary, as it is impossible to achieve both. In times of economic uncertainty, many people are choosing careers based on salary alone, however, Daniel H. Pink, author of Drive: The Surprising Truth About What Motivates Us, now warns that this decision can have adverse effects.
 

Releasing the results of their 2012 Executive Compensation Survey, BlueSteps, the executive career management service of the Association of Executive Search Consultants (AESC), announced today that even though turnover in the C-suite is increasingly rapid, 65.4% of global executives, from a survey of 731 executives worldwide, believe long-term incentives do in fact motivate them to higher levels of performance.
 

In a recent BlueSteps study of over 100 senior executives working in China, seventy percent stated that executive pay had become more competitive over the last 5 years, and 89% indicated their intent to stay in China for over 3 years. The majority of respondents were expats working in China (77%), in general management roles including CEO/COO (63.4%), earning over USD $150k (74%).

In a comparison of six nations, senior executives ranked China as the fourth highest paying country, ahead of other emerging markets, Brazil (5th) and India (6th), yet behind developed nations Germany (3rd), UK (2nd) and USA (1st).  70 percent of respondents indicated that compensation in China has moderately or significantly increased in competiveness in the last 5 years.

Money is flat and meant to be piled up. – Scottish Proverb

Both as a recruiter and as a career coach, I have heard women downplay the importance of compensation. Even if you don’t believe this Scottish Proverb should be your life mantra, paying attention to money matters is important. For most people, your compensation and your ability to earn it and increase it over time is your biggest asset. Do you understand all of the elements of your compensation plan in your current job? If you are looking for a job, are you aware of what is out there? Here are some of the most typical components of compensation: