As a business executive, you may be wondering if you are being paid what you are worth. You might wonder if someone else in some other company is getting better compensation benefits than you. You should be concerned, because there will always be someone making better money with a better benefits package. However, you do not have to stay in a position with any company that is not paying you your worth. Sit down with an executive compensation consultant, and find out just what the real deal is for someone with your expertise and experience.
Your Salary Compared to Others
The consultant will look at your salary and compare it to the salaries of hundreds of executives who are on the same level as you. You will see right where you fall and whether or not you should be given a raise. In fact, when hundreds of executives with similar backgrounds, education, training, and experience are making more than you, you can use that as a jump-off point with your employer to argue for a raise and better benefits package. Just make sure you are working for a company that sees how valuable you are to them and not how disposable you could become.
Your Benefits Package
Health and medical insurance is a pretty standard part of most benefit packages, but how about vision and dental? How good is the vision and dental part of your benefits package? Could these be better? Additionally, how much vacation time and paid time off are you given, versus other executives in similar positions? Do you have short term and long term disability insurance? There may even be some benefits offered to other executives that you have never even heard of, and if those benefits are attractive, you may want to ask for them specifically.
Who does not like a Christmas bonus? They are not typically called that anymore, but a seasonal or holiday bonus is something most people look forward to. A job that offers this perk to employees is one that encourages everyone to work harder, smarter, better, and faster all year long. If you are not receiving a holiday bonus, find out why. If your company does not give out bonuses, decide if that is a deal-breaker before you accept a position. Otherwise, you may have to decide after you have been hired whether or not you want to continue working for a company that does not hand out bonuses.
For more information, work with a consultant from a firm like Gressle & McGinley LLC.