If you’ve ever wondered how CEOs walk away with millions when they’re forced out of a company, it’s because they negotiate those exit terms when they sign a contract. In an interview with Slate, executive compensation attorney Jotham Stein recommends you do the same, regardless of your position.
Photo by bpsusf.
Stein suggests anyone can do this when negotiating for a new position or a renegotiating for a raise:
Even for the person who is a mid-level manager or even lower, when they go to a new job they should say, “Listen, I’m happy to move jobs, but if you fire me, you at least should pay me some severance.” Say, one month, two months, three months, that’s the kind of protection people should be thinking about.
It’s not a bad idea, especially if you’re unsure about a new position or if they’re unwilling to give you a raise. You can find some more tips about negotiating your salary over on Slate.
Your Salary, and How to Raise It [Slate]