The interview is behind you, your references have cleared, and after waiting for what feels like forever, you get the call you’ve been waiting for. You’re hired!
If you’re like most people, the first thing that pops into your mind is how plum a paycheck you can negotiate. And while we would never discourage anyone from going for the big bucks, your salary isn’t the only thing that matters in your new employment package. In fact, an employee’s salary typically accounts for 70% of their total compensation while the other 30% is made up by benefits. So if you’re not happy with the healthcare or retirement package the company is pitching you, it should be on the table for negotiation.
Here are five benefits (other than your salary) you should negotiate with a new job offer.
- How much paid time off you get. After a year of managing their own ideal schedules and reevaluating their priorities, a healthy work-life balance is more important to employees than ever before. If you’re one of them, how much paid time off you’ll get from work should be a point of interest for you. Many companies will offer a limited amount of paid vacation time, but if you’re coming from a business that gave you more paid vacation days, you can ask your new employer to match that number.
- Wellness programs. Even if your new employer offers great health insurance, would you be paying out-of-pocket to hit the gym? Wellness programs are gaining in popularity, and many companies are ready and willing to sign their employees up for gym subscriptions, set them up with a standing desk, or subsidize programs that can help you address less-than-stellar health habits. Some even offer rewards ranging from $10 to $500 for completing “healthy tasks,” like getting a flu shot or competing in a triathlon.
- Parental leave and child care compensation. Many families struggle when they see the blanket maternity or paternity statements on their contracts, as getting two to three months off might not be in line with their goals or lifestyle. If you’re expecting to have children soon, it’s worth asking about extending your time away. Child care can be a major expense for families, which is why child care reimbursement is a perfectly acceptable item to request with your new job offer. Depending on the size of the company, your employer may be able to help you cover a portion of the costs or have an affiliated daycare service.
- Professional development opportunities. Your outstanding experience helped you grab the new gig, but why not take your expertise (and your resume) to the next level with new skills and certifications? It’s in your employer’s best interest to pay your way to conferences, workshops, training seminars, or other professional development opportunities.
- Educational funds. Speaking of learning, your employer may be able to offer some educational funding, whether it goes towards grad school admissions or to help you pay off student loans. Most loan repayment programs offer an extra $100 a month, and while that might not seem like much, that money adds up over time. And if you’ve familiarized yourself with the company’s goals and values, you might be able to make a strong case for why you should continue your education.
Negotiating benefits can be daunting at any stage of your career – but there’s a definite benefit to working with our experienced team at Post Up to make sure you get what you want, and deserve, at this critical time of accepting a job offer. We’ll guide you through every stage of the salary and benefits negotiation process, from initial emails to final paperwork. Contact us here to schedule a career coaching appointment