Director Role - Package - Help
Discussion
Hi all PHers,
First post on this account, made a throwaway one as want to keep semi-anonymous!
There is a possibility that I will be made a "director" at my current place of work.
Exciting I know! However i've been in a middle-management type role for a few years now and the current Director/MD indicated that in the near future this would be where my career path would end up going
It'll be the highest "role", i've ever held so after a bit of advice from all you PH expert company directors!
I've got an idea of where the salary would be for the role based on the company (i've been here a long time and worked my way up the ranks), the sector we operate in etc... So I'm happy with that, but...
What other perks should I be asking for as part of the package?
What do you other directors out there get and consider basically standard for this level of role?
I don't want to go into any negotiations and come out looking like a plonker asking for an Aston and weekly champagne baths..
(not that I would!)
Improved pension (only get the bare minumum at the moment)
Car?
Mobile?
Health Care
Dental Care
Profit Sharing (currently get this but it's a pretty poor agreement)
Over to you guys & gals!
What would you think would be a suitable benefits package for director of a small(ish) company (circa 30 employees)
First post on this account, made a throwaway one as want to keep semi-anonymous!
There is a possibility that I will be made a "director" at my current place of work.
Exciting I know! However i've been in a middle-management type role for a few years now and the current Director/MD indicated that in the near future this would be where my career path would end up going
It'll be the highest "role", i've ever held so after a bit of advice from all you PH expert company directors!
I've got an idea of where the salary would be for the role based on the company (i've been here a long time and worked my way up the ranks), the sector we operate in etc... So I'm happy with that, but...
What other perks should I be asking for as part of the package?
What do you other directors out there get and consider basically standard for this level of role?
I don't want to go into any negotiations and come out looking like a plonker asking for an Aston and weekly champagne baths..
(not that I would!)Improved pension (only get the bare minumum at the moment)
Car?
Mobile?
Health Care
Dental Care
Profit Sharing (currently get this but it's a pretty poor agreement)
Over to you guys & gals!
What would you think would be a suitable benefits package for director of a small(ish) company (circa 30 employees)
Zoon said:
I assume with director being in quotation marks it's in name only? i.e. Not an actual director on the board of the company?
Hardly a director of a FTSE 100 company..... I would suggest not to get too carried by your obvious ego and the title Director!30 people, hardly worth it!!
Are there any other employees in that role (or similar) right now? Any ideas what the Managing director is on/what benefits they have? PHers could suggest a world of things to ask for but you'll want to keep yourself grounded in terms of what others of equal or senior positions within the company are receiving.
parabolica said:
Are there any other employees in that role (or similar) right now? Any ideas what the Managing director is on/what benefits they have? PHers could suggest a world of things to ask for but you'll want to keep yourself grounded in terms of what others of equal or senior positions within the company are receiving.
Yeh, small company so difficult to find any comparison and they are very strict on anything like this about salary, package etc... must not be discussed with other employees etc. written into contract as a disciplinary if found out.I'll just keep my head down and see what they offer and go from there :-)
Depending on the role and sector your in, recruitment companies may be the best to advise.
I work in an industry with quite a lot of movement between companies at a similar level, therefore things like Salary ranges and packages at different companies are reasonable we’ll known.
It’s to the extreme that some agency’s post “salary guides” stating what the typical range is by role and region.
I work in an industry with quite a lot of movement between companies at a similar level, therefore things like Salary ranges and packages at different companies are reasonable we’ll known.
It’s to the extreme that some agency’s post “salary guides” stating what the typical range is by role and region.
Despite being only a small organisation, it might be worth seeking a mentor.
My wife wife found it... And continues to find it... helpful when she was appointed to the board a few years back.
It's very easy to be a bad director... Leadership is VERY different to technical competence. As Google found to their cost.
My wife wife found it... And continues to find it... helpful when she was appointed to the board a few years back.
It's very easy to be a bad director... Leadership is VERY different to technical competence. As Google found to their cost.
super7 said:
Hardly a director of a FTSE 100 company..... I would suggest not to get too carried by your obvious ego and the title Director!
30 people, hardly worth it!!
What a completely unnecessary attempt at pissing on someone else's bonfire.30 people, hardly worth it!!
The OP has been promoted to a senior role. Whether there is 10 people or 10,000 people, he's done well and is asking for some advice.
If you can't offer that advice, maybe best to stay schtum.
OP - packages vary so much it's not generally a case of 'ask for this' or 'ask for that'
Put simply, research some other roles that are in similar businesses and of similar scale, then look to realistically replicate that, taking into account your experience of the company you are in.
demoman said:
Zoon said:
I assume with director being in quotation marks it's in name only? i.e. Not an actual director on the board of the company?
Yeh it would be a name only thing, I guess just a perk, show of willing from them to say well done etc. don't leave! As a Director, you will have a greater and more tangible influence on company performance which would need to be proven before the owners start getting overly generous with perks and package (some people fly as Managers but struggle as a Director).
It sounds like you could expect a modest hike in salary so explore the incentives - if you hit a certain target; what will that mean for you? See if these are written into the contract and get them written in if not.
Good luck
Muzzer79 said:
What a completely unnecessary attempt at pissing on someone else's bonfire.
The OP has been promoted to a senior role. Whether there is 10 people or 10,000 people, he's done well and is asking for some advice.
If you can't offer that advice, maybe best to stay schtum.
OP - packages vary so much it's not generally a case of 'ask for this' or 'ask for that'
Put simply, research some other roles that are in similar businesses and of similar scale, then look to realistically replicate that, taking into account your experience of the company you are in.
Thanks Muzzer & StevieBeeThe OP has been promoted to a senior role. Whether there is 10 people or 10,000 people, he's done well and is asking for some advice.
If you can't offer that advice, maybe best to stay schtum.
OP - packages vary so much it's not generally a case of 'ask for this' or 'ask for that'
Put simply, research some other roles that are in similar businesses and of similar scale, then look to realistically replicate that, taking into account your experience of the company you are in.
I've done some research although getting info on packages is a bit thin on the ground, it seems recruiters/HR often don't put in the job advert everything they offer for senior roles, which is understandable.
I've got an idea of what I'd like, whether it's realistic for my current company is another matter, but it's based off slightly higher roles I've been offered in the past with other companies. (Ended up not taking 2 other job offers in the past 18 months due to location and work/life balance)
Best to put the ball in their court I think and see what they put on the table then go from there.
@OP I think the key question is - what do the other Directors get.
In my experience packages can vary hugely between one organisation and another. In some cases I've moved to bigger organisations with less responsibility but been paid more (and vice versa).
In my experience in most organisations remuneration is "relative". it depends on what your colleagues get, what your boss gets, and what your Direct reports get.
In my experience packages can vary hugely between one organisation and another. In some cases I've moved to bigger organisations with less responsibility but been paid more (and vice versa).
In my experience in most organisations remuneration is "relative". it depends on what your colleagues get, what your boss gets, and what your Direct reports get.
Congrats OP.
Are there already other people in the organisation on a similar level? Would you report to the MD or replace the MD?
If you're replacing, does he have a car provided by the company?
You need to work out what level your responsibilities would be and ask yourself what you would need from the company to manage those responsibilities. Do you know how the company is performing? Can you see other similar roles advertised to compare to? You may not be able to ascertain salary info of higher level job ads, but you should what other companies pitch, to a degree.
What are you working for? Do you want perks, or would you rather have the cash so you can pick your own?
Are there already other people in the organisation on a similar level? Would you report to the MD or replace the MD?
If you're replacing, does he have a car provided by the company?
You need to work out what level your responsibilities would be and ask yourself what you would need from the company to manage those responsibilities. Do you know how the company is performing? Can you see other similar roles advertised to compare to? You may not be able to ascertain salary info of higher level job ads, but you should what other companies pitch, to a degree.
What are you working for? Do you want perks, or would you rather have the cash so you can pick your own?
I know a handful of directors from similar sized companie,
But the variation of pay is so massive that I don’t think comparing ads will be of much use.
Some companies (not yours by sounds of it) use the director term freely as ‘senior manager’ which further amplifies the problem.
So as usual it comes down to how much it would cost the business to replace the role they are cooking up for you.
If you were the one hiring and looking to fill this new role how much do you think you would have to pay to fill it?
But the variation of pay is so massive that I don’t think comparing ads will be of much use.
Some companies (not yours by sounds of it) use the director term freely as ‘senior manager’ which further amplifies the problem.
So as usual it comes down to how much it would cost the business to replace the role they are cooking up for you.
If you were the one hiring and looking to fill this new role how much do you think you would have to pay to fill it?
I used to work for a huge global corporation which at the time was said to have one of the top 5 headcount in the world (500k+ staff).
Once you reached a certain HR grade, your title automatically became Director. It was utterly ridiculous, they must have had thousands of directors (me included) globally. The next grade up from me was Vice President, and there were a gazillion of those as well.
In other words, yes, as above, if it's job title only, not only does it not carry much, but in terms of what you're entitled to, well, that will vary massively company to company, so in reality only you can answer that (for example, does everyone except the cleaner in your current company get a car, or does nobody get a car?). Me, I got a decent remuneration, partly results-driven, and benefits commensurate with the role and the size of the company but in my next role/company it was completely different again.
One other thing - if you think you might move in the future and you see a perfect role advertised with the job title of "Widgetation Manager", and you apply with your CV saying "hey, I'm a director", then are they going to consider you? I'm actually assisting someone with some recruitment currently, and had a CV in today for a middle-pay General Manager role, where the applicant describes himself as COO of his current company. Now, either he's way overqualified and will want x times the salary on offer, or he's COO of his one man band doing very little. Either way, he went on the Reject pile fairly swiftly, not least because he didn't offer any explanation of the above.
Had I not moved jobs to work with my former boss, who knew about all the job title BS where I was before, I would have had to tone my CV down to "Head of......" or similar, which in reality would be far more representative anyway.
Once you reached a certain HR grade, your title automatically became Director. It was utterly ridiculous, they must have had thousands of directors (me included) globally. The next grade up from me was Vice President, and there were a gazillion of those as well.
In other words, yes, as above, if it's job title only, not only does it not carry much, but in terms of what you're entitled to, well, that will vary massively company to company, so in reality only you can answer that (for example, does everyone except the cleaner in your current company get a car, or does nobody get a car?). Me, I got a decent remuneration, partly results-driven, and benefits commensurate with the role and the size of the company but in my next role/company it was completely different again.
One other thing - if you think you might move in the future and you see a perfect role advertised with the job title of "Widgetation Manager", and you apply with your CV saying "hey, I'm a director", then are they going to consider you? I'm actually assisting someone with some recruitment currently, and had a CV in today for a middle-pay General Manager role, where the applicant describes himself as COO of his current company. Now, either he's way overqualified and will want x times the salary on offer, or he's COO of his one man band doing very little. Either way, he went on the Reject pile fairly swiftly, not least because he didn't offer any explanation of the above.
Had I not moved jobs to work with my former boss, who knew about all the job title BS where I was before, I would have had to tone my CV down to "Head of......" or similar, which in reality would be far more representative anyway.
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