I do not really know the answer..... When is it time (or salary range or compensation package complexity) to have a compensation consultant or lawyer?
Compensation consultant or lawyer
Answers
Let me reprhase the question and put some context into it....
When is the right time/point to bring on a compensation consultant or lawyer to represent YOU the candidate in negotiations to protect your interest and make sure that you are getting the "appropriate and fair" package ? Is it the salary range? Size of company? Is it compensation package complexity? All of the above? ....and at what timing/levels?
The golden parachutes. the severance packages. the perks like the use of planes etc, just does not appear in the contracts and certainly the candidate just does not present it as his/her requirements in the beginning of the search.
I recognize and understand the need (or not) for both ends (high and low) of the spectrum....but my question is, at what point (in the middle) triggers the need.
My suggestion at the offer. Given the sophistication of the employer/client this may cause them to get skittish.
Another way of asking it is....how much should the appox. compensation package be to be worth the services of a compensation consultant or lawyer?
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I don't think it's so much a dollar amount (although probably over $200K for a specific position, but a broad based contract might be worthwhile for all positions) but the position itself.
Most definately C-Suite if the potential employee should want a contract (which imho they should). Any time stock is involved or a complex bonus structure.
For all salaried employees some type of basic contract should be used so there is no confusion as to roles, responsibilities, salary, etc.
How I would love to be one of those that has a contract rather than be an at will employee.
Recently, a CEO in our industry was forced to resign. His severance package was significantly more than several years of my salary.
Once again, shareholders take it in the shorts.
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Shareholders (through the Board) only take it in the shorts if they dont have a say on CEO pay/contracts. I doubt the CEO was hired without the Board knowing what they are in for....after all they hired him and they approved the contract.
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