You’ve got a job offer. Boom, fantastic! If all looks well, it could mean the end to your current job or of your grueling job search. Alas, your work is not yet done. Negotiation is the name of the game if you want to secure some early benefits that will sweeten the deal. Companies often leave room in their budget for offer negotiations. In fact, many companies expect some negotiation.
Salary is the first item on the table, but sometimes companies lock it down before negotiations even begin. Fortunately, that doesn’t mean the negotiations are over! There are many other avenues to take the negotiation conversation that would net you some serious benefits in the long term.
If your job is forcing you to move you’re in the perfect position to ask for a relocation stipend. This is a one-time check that helps allay the costs (if not cover them altogether) of movers, gas, and anything you need during the move. If they say yes, then you can keep the negotiations going and try to get them to bump it up even more.
2. Retention Bonus or Signing Bonus
Everyone loves a good bonus. These two are the most common bonuses to negotiate in the offer, with each one having its own advantages. Prepare a negotiation plan prior to going into the meeting. Negotiations can, of course, go on for too long, turning your go-getter attitude into something akin to arrogance in the eyes of the company.
These two bonuses are good items to negotiate when they’ve taken salary off the table because they are set payments over the short term. A signing bonus is a once-and-done, and retention bonuses are a good sell because you can leverage the fact that you mean to stay for a number of years.
3. Work Schedule
This is a bit more company-dependent and has risen in popularity since the Covid pandemic. Negotiating your work schedule could mean more days working remotely or the start time of your workday. During this negotiation you can ask to start earlier or later, perhaps work a four-day week, or any adjustments you want! You have a little more room to work with because these adjustments don’t have to do with money or overall work time, but some companies are very strict about their schedules.
4. Vacation and Paid Time Off
The final item to negotiate is your vacation time. Additional days go a long way in planning holidays and other excursions throughout the year. This item is generally more flexible in smaller companies, as larger companies have a very structured system that dictates how many vacation days you get and they are unlikely to make exceptions for any new hire.
Don’t just stop here when negotiating, here are some other options when negotiating.
- Educational Reimbursement
- Training in literacy/ job skills
- Tuition reimbursements
- Travel/Transportation reimbursements
- Company car
- Food services/paid meals
- Bonuses for productivity
- Overtime pay
- Workers’ compensation
- Unemployment insurance
- Child care
- Family/maternity leave
- 401(k) matching
- Matching savings plans
- Deferred compensation bonus plan
- Life insurance
- Home office allowance
- Health & Medical
Wherever you are in the negotiation process, don’t leave anything on the table. Pathrise can connect you to an experienced professional for one-on-one negotiation support and help you turn the offer in your favor. Learn more and connect with a Negotiation Consultant here.