Money Money Money! Utilise this template to help you prepare for upcoming salary negotiation! All the best! 👍🏼

YouTube Video Guide: Using this template

https://www.youtube.com/watch?v=-cEqec75lNA

General Guidelines:

Your final pay should reflect and correlate to the following:

• Years of experience (how long you have worked for)
• Interview performance (how well you did during the interviews)
• ~ 20% to 30% Overall Package Increment (if it’s not your first job!)

If a recruiter asks you about compensation expectations early on in the process / first chat - ALWAYS DEFER this conversation until after you complete your interviews using the following quotes:

• At this point, I would prefer to hear from Company X a proposed compensation that they would find suitable for the skills and experience I will be bringing to the table.
• Before I share any details, I'd like to learn more about [Company]'s Compensation Philosophy, do you mind explaining this to me?

Compensation Structure & Philosophy

Every company's compensation structure differs, so make sure you fully understand from the recruiter how it's structured. In fact, compensation structure could also differs for different job scopes (fixed company plan v sales plan with commissions etc).

This is to really get a full picture of how the company pays you for your contributions at work.

TOTAL COMPENSATION is usually made up of the following:

• BASE SALARY
  • The minimum amount the company pays you yearly. Divide this amount by 12 and you get your monthly salary.
• BONUS
  • Usually a fixed % given at company level or your own level.
  • Sometimes given at a higher % based on your work performance across the cycle as well.
  • Minimally, it would be at least a 1 month bonus.
• EQUITY
  • These are stocks given by the company.
  • The theory is when you own part of the business, you will be incentivised to work and ensure the company is successful.
  • Equity is usually used as a retention tool, and it usually vests across a few years (so they don’t become actual stocks you own until you hit a certain tenure in the company).
  • Equity is usually given at the discretion on the company

The rest of these are usually optional and should not be considered as part of your total compensation. These are usually given at the discretion of the company:

• Benefits (Insurance covering dental, vision, doctor’s visits etc)
• Extra Cash Bonuses or reimbursements (WFH Kits, Educational Reimbursements)

Important Questions to Ask

To further understand how performance reviews and compensation works in each company, these are a few important questions to ask and clarify with the recruiter: