A Severance Negotiation Success Story: The Inside Scoop
Today, I’m soaking up a gentle breeze on a tropical balcony, a world away from my past life on the East Coast where a monster winter storm rages. I’m considering extending my stay in Costa Rica, which would mark my third month here. Not long ago, I was dreading another snowy commute, but losing my job turned out to be the best thing for me. It wasn’t by chance; it was the result of a strategic plan to secure a six-figure severance package.
Now, as I enjoy my days surfing and exploring with my daughter, I’m still amazed to see full paychecks landing in my account. I nearly walked away with nothing before I came across Sam’s advice, which set me on a path not just to secure a great severance but to remind others to always negotiate before quitting.
Starting my journey wasn’t straightforward. I had a fulfilling 20-year career in mass media, traveled the world, and ended up with a great salary and benefits. But as time passed, the job lost its spark for me, especially after becoming a dad. I wanted more time for myself and less time at a desk.
I toyed with the idea of freelancing, knowing it would cut my income in half and I’d lose benefits, but quitting seemed like a waste after two decades. My company did offer severance packages during rough patches, though usually to those underperforming, not someone like me who was still valued. I needed a way to make my case without burning bridges.
That’s where Sam’s guidance came in. After a deep dive into his book and a personal coaching session, I was ready. I learned from colleagues who had negotiated their exits and got a tip that there might be funds for severance at year-end.
I first approached a well-connected manager, not my direct boss, discussing my wish to care for an ill relative. This opened up discussions about possible leave or remote work, but I steered the conversation towards severance by suggesting how my departure could free up resources for more critical company areas. We agreed she would explore further with senior management.
Expecting nothing, I was stunned when, a month later, she hinted at offering me the severance package we’d discussed. The final deal was more than I could have hoped for—a year’s salary plus extended health benefits.
Here are a few lessons from my experience: believe it’s possible, it’s not personal, leverage your knowledge of company practices, and have a plan for after you leave. I secured nearly a year’s worth of pay which lets me enjoy this break and plan my next steps in freelance, cushioned by some savings and passive income.
I know there’s some anxiety about the future and leaving a steady paycheck behind, but the freedom to control my time and the potential to still earn makes it worthwhile. I’m ready to embrace whatever comes next, even if it means driving an Uber or, why not, moving permanently to Costa Rica!
If you’re thinking of leaving your job, consider negotiating for severance instead of just quitting. It can provide a financial runway for whatever comes next, not to mention possible benefits like healthcare and unemployment. Trust me, it’s worth exploring.
