Name Your Price Essay

Name Your Price Compensation Negotiation Whole Health Management Group 6 Abhisek Jha 10PGHR04 Annesha Pramanik 10PGHR08 Kunal Dayani 10PGHR21 Priyanka Gupta 10PGHR30 Ria Ghosh 10PGHR42 Tanu Mehta 10PGHR51Base SalaryStatus $100000 per year paid semi monthly yard Since Whole Health Management is a mid exhaust hood company and it wishes to pay competitive package at HBS , we have chosen median base salary of health sector from exhibit 6. Also, since the CEO, Jim Hummer is voluntary mentor and provide a lot of challenging opportunities to Munroe, which he might not get anywhere else so he would be ready to via media with the monetary benefits and not choose 75% base salaryStock optionsStock options Options to purchase 10000 shares at $2.7 per share according to vesting schedule Reason It is the standard equity plan for incoming executives Also since, Jim mentioned in exhibit 2, that the company might grow 3 folds by year end 2006, Munroe would requirement to invest in the firms equity And Jim also mentioned that the organic growth strategy may generate many opportunities for Munroe, being in a leadership role he would like to have more stake in the companyBonusBonus Up to $30000 based on hold upon goals Reason- Since the median total additional compensation given in exhibit 6 is 30% of the median base salaryThe agreed upon goals would ascribe to 3 roles specified Manage knob relationships and contracts Goals a) Repeat business from existing clients of the three contracts given to Munroe b) Customer satisfaction Index 90% Grow existing client contracts Goals a) Increase revenue ( existing-$10M to $12M) from the contract that he is managing by 15% Develop new client business Goals a) Expand the client base and get 2 more contracts with combined worth of atleast $4MNOTE The bonus of $30000 is proportionally divided on all goals with each role carrying equal weightage move AllowanceRelocation Allowance $10000 to relocate to Cleveland additional allow ance to be determined for any future relocations Reason From internet cost of living comparison calculators we piece that even with a 30% decrease in Munroes salary, he could maintain his standard of living in Cleveland as it is a less pricey city as compared to Boston. Thus we have allocated a nominal amount of $10000 towards movers and packers chargesSource for cost of living comparison http//www.bankrate.com/calculators/savings/moving-costof-living-calculator.aspxContinuing knowledge Stipend and Dues & LicensuresContinuing Education Stipend 70% of tuition fee for further education, if approved Dues and Licensures Sponsor(100%) the certifications and other dues and licensures in futureTHANK YOU