You have just received a job offer, but you read through it and feel as if something is missing. You have done your research and know the offer is competitive for the position you are seeking, but maybe you have a stellar track record in your industry and thought it would be a bit higher. In attempting to negotiate, you find the hiring manager doesn’t have a lot of wiggle room in terms of base salary. There could be a number of reasons for this – the size of the company, the state of the economy, the state of the industry, the growth of the company or other budget constraints.
At this point, if salary is off the table, you could decline the offer, but if you really want the job, there are still other areas where you might be able to negotiate more favorable terms, namely, with benefits. And if the company is eager to hire you, they may be open to discussion. Some benefits, such as healthcare and retirement plans, are already predetermined. But there are other perks you can negotiate. Here are a few.
1. Signing bonus
This is a single cash payout usually offered to lure applicants into taking jobs that are hard to fill. You may be able to negotiate such a payout, particularly if there is a gap between the salary the company is offering and the industry standard.
2. Vacation days
Most companies offer two weeks’ vacation to new hires. But you may be able to negotiate an extra week or more, especially if you earned more than two weeks at your previous job.
3. Moving up your performance review
Most companies conduct an annual performance review, at which time salary and raises are also discussed. If you can negotiate moving up your first performance review to six months, you could negotiate a raise earlier.
4. Relocation expenses
If you are relocating for your new job, you may be able to get the company to pay for the cost of the move.
5. More flexibility
You may also be able to negotiate working from home a few days a week or starting later in the day and working later, or something similar.
Learning how to navigate the negotiation process when accepting a job or asking for a raise can be tough at first. If you are looking for more help in your professional career or considering a new opportunity, the team at Opti Staffing can help find the perfect fit for your needs.