Making it to the negotiation phase of the interview process is difficult. It may feel like you’ve spent countless hours preparing for interviews, answering mock interview questions, etc. If you’re reading this article, then the preparation has clearly paid off. Now, the same attention should be used toward the negotiation phase.
How to Negotiate a Job Offer
Typically, you’ll have a clear salary range in mind for the position. But what happens if you don’t get your desired salary? What if your salary range is slightly above the scope of the role? Typically, candidates will accept or decline, and leave the negotiation at that. The best way to negotiate the job offer is to have many negotiating items at your disposal. Here’s a list of items you can negotiate that aren’t salary.
Top Items to Negotiate in a Job Offer
There are many items that you can leverage in your negotiation that aren’t salary. These consistent of monetary items that have a dollar value assigned to them. You can consider this part of the compensation package.
Monetary Negotiation Items
When working in a sales or retail environment, you can also negotiation your commission rate. When negotiating commission, you are directly boosting your income at the company, without changing your salary. This can also show your confidence level in a sales role.
To increase the overall compensation package, you can ask for a one-time bonus. This negotiation tip is a great way to make a desirable package. Employers will also be happy to provide a one-time bonus rather than a commitment to a higher salary.
If your new role requires relocation, your employer may be able to compensate and travel-related expenses. This makes your transition easier so that you can prepare for your new role.
When your role requires personal spending, you can negotiate additional compensation. In most cases, this will mean travel expenses, compensated meals, or accommodation.
Health Spending Account
In addition to salary, you can increase your benefits package. Many employers will include a health spending account that can be used toward anything health related. You can negotiate this for a larger annual spending limit.
These items do not have a monetary value but can enrich the job offer. Typically, non-monetary items increase quality of life or job status. Also, these items can be more important than negotiation of monetary items.
Negotiating your title is a powerful technique. It will be displayed at the bottom of your emails, across company directories, and on business profiles. By negotiating a better title, you’ll boost your first impressions. This title change also helps you land future roles.
Maximize your time away from work with additional days or weeks of vacation time. If you do not negotiate vacation time you may be stuck with a standard 2-3 weeks of PTO for years.
If the company allows hybrid or remote work, you can negotiate for more days at home. This gives more flexibility to the role and leads to reduced spending on lunches, transportation, and time-savings.
Many companies offer flexible work hours that can be negotiated. This can include fewer overall hours per week, reduced hours in office per day, or even a four-day workweek. Work with the employer to determine what is flexible hour structure is realistic.
In the negotiation phase of your interview process, you should prioritize in order of importance. Remember, you might not get every item on your list. You will get a much better package than a candidate that only negotiates salary. Remember to lead with confidence and get a package that represents market value.
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