Now that you’ve decided to make a candidate an offer, what should that offer be? Should you focus on equity or salary? What about their needs? It’s almost impossible to know what will make the candidate most excited, so I suggest making 3 offers.
1. The Offers
Give the candidate 3 distinct options. One should be high equity, with a low salary; one should be high salary but with low equity and then something in the middle.
2. Give 3 Verbals, 1 Written Offer
Don’t try to paper all 3 offers, instead make the 3 offers verbally and ask the candidate which one they’d like you to put in writing. This avoids extra effort and naturally starts the discussion process.
3. Negotiation Ready
This approach sets the parameters for any negotiation, as you’ve already given your high and low ranges. Plus it creates a need for communication after the interview so you have more opportunities to make your case.
Best of luck out there.
Sterling Road invests in idea stage and pre-seed B2B startups based in the US, Canada and UK.
