If youve evernegotiated a salary, thats great!
But did you know your salary is only part of your bargaining mix?
To negotiate benefits, youll want to think about your overall compensation quantitative and qualitative benefits.
Quantitative compensation is countable things like salary, bonus structures or time off.
Qualitative compensation is less concrete, like the option for remote work or work-life balance.
Both types of compensation play into the total packages value for you.
Time Off
Paid time off (PTO) can have a huge impact on your overall job satisfaction.
Before you decide what you want to ask for, you oughta understand what the company is offering.
Research (or ask) about the companys PTO policy and culture.
When it comes to the actual negotiation, be clear with what youre asking for.
Know what you want and why you deserve it.
You might mention youre leaving a company with more PTO and already have commitments planned during those times.
Whatever the reason, be clear and specific, and wait and see what they say.
A signing bonus is pretty straightforward.
It rewards you additional funds for simply accepting the job.
You might consider asking for a relocation bonus if you plan on moving for this position.
Finally, you might consider negotiating your annual bonus percentage if your new job is highly bonus based.
Many of these bonuses appear as percentages of your overall annual salary.
So, it’s possible for you to consider asking for a higher percentage.
Often these percentages are preset by the company, but it never hurts to ask.
If the choice is between a higher salary or large bonus, pick the salary.
The first step in this negotiation is to understand the scope of your new job.
Youll also want to consider your job title.
Schedule and Flexibility
The pandemic opened up many employees eyes to thebenefits of flexibilityof working from home.
Unfortunately, many companies are pulling back these perks and demanding more rigid, traditional business hours and locations.
Before you negotiate, consider what you really want.
Are there specific days youd like to work from home or are you asking to be fully remote?
Are there nontraditional hours youd like to plan on and how will that function within the jobs role?
Timing of Benefits
An often overlooked negotiable item is the timing of receiving specific benefits.
While some companies wont be able to shift these requirements, it never hurts to ask and see.
You Know You Want To Negotiate Benefits, Now What?
Once youve decided what youd like your compensation to look like, its time to actually negotiate benefits.
We cant guarantee the company will meet your asks, but we can help you in your efforts.
First,plan ahead.
This is a crucial step to successful negotiation.
Next, youll want towait until you have an actual offer letter in hand.
Plus, it gives you a starting point to begin negotiating.
when you’ve got that offer letter, ensure thatthe employer knows you want this job.
No one wants to negotiate with someone that seems lackadaisical about the company or position.
Go Get Em
When asking for what you want, double-check tobe clearabout your requests.
If you want more PTO, ask if theres any wiggle room on vacation days.
If youd like a specific work schedule, share the days and times.
The clearer your ask is, the more your employer will be able to make a quick decision.
Youll also want to be clear with why this additional compensation is beneficial and deserved.
Be specific and direct and see what happens.
Before I accept, I wanted to discuss the possibility of implementing a hybrid work schedule for this role.
I believe this flexible schedule would allow me to maximize my productivity and thus output for the company.
Now that youre prepared its time to have the real conversation.
Grab your research, take a deep breath and good luck!
Contributor Whitney Hansen covers banking, credit cards and investing for The Penny Hoarder.
She also writes on other personal finance topics.
