Lifeway Foods CEO Julie Smolyansky discusses growing as a female executive with McDonald Hopkins panel
- Negotiation considerations for professional women and executives
- Important distinctions in negotiation approach between men and women
- Negotiating for more than salary and the components of “total direct compensation
- The importance of advocates and male allies
- Non-compensatory issues such as board rights versus equity rights
Julie Smolyansky, who at 27 became the youngest female CEO of a publicly held company when she took over Lifeway Foods in 2002, offered her advice and experience to the full house at the 300 N LaSalle Conference Room in Chicago, Illinois.
McDonald Hopkins’ Hayley Gladstone discussed the importance for women to negotiate for more than solely compensation and to keep total direct compensation in mind. She mentioned that cash negotiation can be the easy part of the negotiation process, but there is significant non-cash value that makes up the full scope of an employment negotiation – oftentimes for executives the majority of the value is held outside of the pure cash or salary components
Hayley Gladstone and Christal Contini added that having an advocate in your corner, whether that be legal counsel, a strong mentor, or even a positive support system around you, is something that is vastly underrated at all stages of your career. Advocates and your “support system” can often offer objective advice and unvarnished perspective that may help not only with negotiations, but for your professional development, as well.