Crafting an Executive Offer Letter?
Don’t Forget This
Employers want candidates excited to come work and stay long-term, without overpaying them.
Candidates want the maximum they can get without coming off too greedy and killing the deal.
Having a 3rd party recruiter like DSC to mediate this part makes it much easier: each party can express their wants freely, without risking to get the other party “emotional”.
Your executive offer letter should include:
Obviously: Base salary; variable compensation incl. bonus or commission and equity; benefits; PTO/vacation time; a start date.
But also: Annual CPI salary adjustment; annual merit reviews; achievability of targets tied to bonuses/commissions; ability to purchase additional equity (privately-held company). If in a sales or remote-based role: cell phone; company car or car allowance; office equipment; corporate credit card or budget for expenses. Finally, severance pay (6-12 months is standard) due to termination not related to performance or cause.
Need a hiring expert in your corner to facilitate your next executive hire? Consider using Dynamic Search Consulting (DSC), a boutique national executive search firm based in the Silicon Valley in San Jose, CA.