“Give it to me I’m worth it, baby, I’m worth it
Uh huh, I’m worth it, gimme gimme, I’m worth it”
-Fifth Harmony
That’s right. You are worth it! You deserve to be compensated for the value you bring to the company. Especially when you are negotiating for promotions, a new job, and new compensation packages. When it comes to enhancing your career and maximizing your net worth, you deserve it.
What To Do with Your Worth
When searching for a new job, you deserve what you are worth. To find out what the market is paying you can get specifics from sites like levels.fyi. Furthermore, you can work with a recruiter and get additional compensation information. It’s best to work with a recruiter who charges a flat fee, not a commission. This way your incentives will be aligned and the recruiter won’t put you in a job just to collect a commission. Instead, they will work with you to find the right fit.
After numerous conversations with recruiters, both independent and those that work for companies, it seems candidates aren’t savvy about important equity compensation components like RSUs and stock options. Candidates do not understand the instruments, they don’t know what to ask for, and they don’t know how they fit in with their financial picture.
Don’t fret! There’s help. A professional financial advisor with experience working with equity comp can help you. How? By guiding you through a review of what’s in your package and how to make the most of it. With this approach you will find the right position with the appropriate compensation. You are worth it. Your career is worth it.
Hiring An Advisor For Assistance
Hiring a financial advisor when you are evaluating a career move may not be the norm. And may create questions such as:
“Will advisors add enough value to justify the cost?”
“I don’t have confidence in understanding the equity compensation piece, but is the fee worth it?”
“Should I buy 3 ETFs on my own and just be done with it?”
These are definitely important questions to have answered. And just like you are worth it, the value of financial advice is worthwhile. How? The benefits of hiring a financial advisor are beneficial from an economic standpoint as well as an emotional one. Let’s go through an example.
I have a client who at first was wary about hiring me. She was unsure if the fees were worth it. With her permission, Vanessa has allowed me to share her story.
Emotional Decision Making
When we first met, it was obvious Vanessa was a smart, capable woman. She also had a lot of anxiety around money. Vanessa was especially confused about her equity compensation and felt that she was missing out on opportunities. She had a lack of financial competence around equity compensation that made her feel discouraged.
In working with her, she became comfortable with her entire financial picture. Because I was able to use my expertise in equity comp to explain the specifics of her compensation package in plain English, we developed a robust plan that fits with her economic and emotional needs. Now she has a solid grip on her equity compensation and financial trajectory, and her career is thriving. Furthermore, she doesn’t feel like she is throwing money away by making the wrong decisions regarding equity compensation.
If you are wondering about how much your current compensation package is worth, the specifics of a recent job offer, or anything else, feel free to set up a chat.
Just remember, you’re Worth It!