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Patricia Annino - A Key Secret To Success<br />

positions at your place of business, and more<br />

importantly, how a new lateral hire coming<br />

into a similar position is being compensated.<br />

It may be that base pay is pretty similar across<br />

the board, but the timing of the payments, the<br />

determination of the bonus, and the additional<br />

perks all may vary significantly.<br />

Ask the open questions in your research: What<br />

are the available benefits and who has them?<br />

Is t<strong>here</strong> anything else I should be considering?<br />

Are t<strong>here</strong> benefits I am unaware of? Is t<strong>here</strong><br />

flexibility on the timing of the payments?<br />

Get Help from Experts<br />

Spend some significant time figuring out what<br />

you want to negotiate for and prioritizing it. In<br />

doing this research, women might want to ask<br />

men what they think. Developing a “kitchen<br />

cabinet” of successful men and women will be<br />

invaluable.<br />

It is also important to hire an attorney and an<br />

accountant who are well versed in the legal<br />

and economic terms in contracts for similar<br />

persons in your field, and are t<strong>here</strong>fore aware<br />

of the different types of clauses that would go<br />

into those types of contracts, as well as the<br />

ranges of ballpark fees. That research will help<br />

you determine how you want to negotiate.<br />

Plan ahead in establishing value<br />

About fifteen years ago I was involved with a<br />

client in the negotiation of a major league sports<br />

team. <strong>The</strong> agent who was instrumental in the<br />

47

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