The bailouts and contractual bonuses paid to the private sector have redirected focus to how public sector employees, especially managers, are compensated. Key to establishing executive compensation is conducting negotiations in a transparent, objective, and fair manner. But there are always two sides to what's fair. What might have been an honest and good faith deal yesterday could be viewed as costly and greedy today.
This article provides advice on the negotiation process and answers questions related to severance, buybacks, and early-retirement incentives. For additional information, review the ICMA Guidelines for Compensation.