Any HR people around who can tell me about negotiating pay etc for a new job?

[MrsFogi]

So the back ground - I have a pretty senior job but am very underpaid (as a result of getting the role while unemployed after redundancy (i.e. pay was 30% lower than my previous job), promotions being internal and my company being super mean about pay rises i.e. you get promoted and may get a little pay rise but then no pay rise for 3-4 years). I know the pay for my position is well below (about 50% below) that of people with the same positions in competitors (because I have seen what their teams members are being paid when they apply to join my team and also when I have been called about potential jobs with these competitors). Anyway I haven't moved for years mainly because I didn't want to end up having to start out anew somewhere else.
Recently I was called by an agent who had been tasked with putting forward some candidates to a competitor. The role is the same as mine but with a bigger team and the remit of growing the business. I am interested in this role and am seeing them again this week for another interview. I have already been contacted by their HR to ask about my current package (I was a bit caught off guard so told them my basic and bonus) but didn't really have the chance to say what my expectations were.
Can any HR people give me advice on setting out my expectations without putting them off. Also as I haven't moved for over 10 years can you give me any pointers on what I should be doing about e.g. holidays (I have lots in my current firm but suspect I would have less at the new firm - this is very important to me) and things like share options in my current company that have not yet vested? I take it that people ask for a significant uplift to cover the loss of job security (i.e. if I was made redundant in my current company I would be in for a significant pay out whereas if I move I would be taking a risk re this)? All advice welcome - as you can see I am pretty clueless as I simply haven't negotiated this sort of thing in the past.

”I take it that people ask for a significant uplift to cover the loss of job security (i.e. if I was made redundant in my current company I would be in for a significant pay out whereas if I move I would be taking a risk re this)?”

No. The pay should be appropriate for the role, your skills, qualifications and experience. You don’t ask for an “uplift” to the salary offered because you’d be a new employee and therefore have fewer rights in the event of a redundancy.

You sound like you have plenty of information about the market rate for the role, so that’s your starting point. Are the recruiting company not giving any details of what salary/salary range the role attracts?

It would be unusual for holiday entitlement to be negotiable. Normally this is consistent for all staff, either statutory minimum or an enhanced arrangement, but not something individuals usually get to haggle on.

Assuming this is private sector, holidays should be approx 24 days plus bank holidays. Not much difference between companies and not negotiable (except in startups where unlimited holiday is becoming more common - not as cushy as you might think).

You lose your current options and may or may not get options in the new role but they’re unlikely to compensate you for the lost options unless you’re in a very senior role and are headhunted into it with golden hello’s.

Looking at your salary, it will be hard to overcome that you’re so underpaid currently and they might try to offer you a sizeable pay rise to take you up from what you’re on now but will still be below market. Employers often look at hiring people for what they can get away with, not necessarily what the job is worth. It shouldn’t be like that but it often is, even in huge corporations.

The agency will know at least what the potential salary range is, be armed with this and go in and sell yourself. Regardless of what the role is your interview is a sales pitch for yourself.

Play up the value you’ll bring to the role, how you are the best person to grow the business and you deserve to be compensated accordingly. If they ask what you want to be paid ask them in return what the job is worth to the company then state your case.

Especially with the business development angle ask them what the target is, what the bonus will be when you hit it and then tell them that you’ll smash it and want kickers when you exceed it, which you will.

Know your value and don’t shy away from demanding it. Be prepared to walk away if they don’t offer what you want.

It’s a negotiation and you need to have a red line or they’ll take advantage, it’s their job to do that.

Don’t accept less than you want in the hope that they’ll increase it in time, as you’ve seen in your current role it’s really hard to overcome starting on a below market salary