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Can anyone share their experience with an ESOP?
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Can anyone share their experience with an ESOP?
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Yes, you should not get offended by any of this. It's not your money. People are trying to do what's best for them. Besides, budgets can be stretched for the right candidate at times
it's because have been told they should always ask for more or they'll be leaving money on the table.
And when the posted range is 100K As in 115K - 215K and the candidate hits all check marks and they offer 120K. Why would the candidate not negotiate then? I mean even half is about 165K and if you say no my budget is only 145? What’s the candidate supposed to do? Take less than what they are worth or try to negotiate?
Depends on the firm for example bofa wants candidates to negotiate wages while wells fargo doesn't usually allow for wage negotiations
Bowl Leader
Also if someone rescinds an offer because you negotiated, you don’t want to work there. Opting for nuclear option vs. discussing does not indicate a healthy workplace culture. If anything, it’s telling of their attitudes towards any future time-off requests to deal with family emergencies or when anything goes wrong with clients or your team once in the role.
Are you getting offended because it makes you uncomfortable to have to say no? Try to separate those feelings. It is perfectly reasonable for somebody to try to negotiate a salary, people can in many places.
Bowl Leader
Candidates are expected to negotiate within the range, especially for higher-level roles, so first make sure you’re not just calling out the fact that candidates are negotiating in general.
If you’re seeing candidates negotiate outside of the range specified, repeatedly, maybe it’s worth considering if you’re (1) paying market value for such roles and (2) if you need to reset the role grade - i.e. are you hiring for a exec level role while advertising it as mid-senior? - and thus expecting the pool of qualified candidates to accept a salary less than they made in roles 2-3 grades lower? I would rather make 1 good hire for a role per 5-10 years than hire replacements every other year, for time, and much of this discernment falls on HR. You have influence to seek the budgets you need for roles to place good candidates.
I’m sympathetic to budgetary constraints, but having a more competitive pool of candidates doesn’t excuse trying to get more for less, because it’s an option. Taking advantage of desperate job seekers on comp isn’t something we can ethically advise is ok. Luckily, consulting and tech are largely unaffected if not aided by current market conditions in terms of growth, so it’s not an issue for most on these bowls.
Ultimately, you get what you pay for, and it may just have to be a 23 year old, requiring training programs and considerable ramp up instead of someone with 5-10 years of experience, who may be fully operational day one, with greater insight, trade-offs. Many caveats, of course. We don’t know the specifics.
Conversation Starter
I feel like it's odd if the candidate is negotiating outside of the provided range. Understand why it can seem disrespectful- it's a waste of both your and their time
If they want the candidate, they will be flexible
What's the level of the role, work location, and salary range? I'm asking because if the posted range isn’t aligned with market expectations for that level and location, savvy candidates SHOULD negotiate. And frankly, they’re doing you a favor by helping correct that data.
Also, out of curiosity, when you were job hunting at the Director level, are you saying you didn’t negotiate?