So you got a job offer at a company that you love— congrats! But there’s just one thing keeping you from accepting: you’re not completely satisfied with the compensation package. Even worse, the hiring team already let you know that the budget for the position maxed out, meaning there’s no room for you to negotiate.
Salary is one of the most commonly negotiated things before saying yes to a position, but did you know that’s not the only thing that can sweeten the deal? By knowing what to negotiate in a job offer, you can come away with a great new job and a benefits package to match.
What to negotiate in a job offer
If a higher salary is off the table or it simply isn’t quite what you’re looking for, consider negotiating for one of these perks:
1. Flexible working hours
Flexible work hours allow you to adjust your daily start and end times to better suit your needs and lifestyle. This flexibility can significantly improve work-life balance, reduce commute stress, and offer a more personalized approach to productivity.
2. Remote or hybrid work options
Remote and hybrid work have grown in popularity over the last five years, meaning that more employers are willing to offer this type of flexibility.
These options give you the opportunity to work from home or a location of your choice for part or all of the workweek. Like flexible work hours, this benefit can lead to a better balance between personal and professional life, save time and money on commuting, and offer a more comfortable and personalized work environment.
3. Sign-on bonus
A sign-on bonus is a one-time financial incentive offered to a new employee as an enticement to join a company. This immediate, upfront reward can help cover transition costs, like relocation expenses or compensate for benefits lost by leaving a previous job.
A sign-on bonus can help bridge the gap between the salary you were offered and what you were hoping for. This can give you time to prove your worth and negotiate a higher salary down the road.
4. Performance bonuses or profit-sharing
Performance bonuses or profit-sharing involve additional compensation based on your individual or company performance.
From an employer’s perspective, performance bonuses can be lucrative because they can motivate you to succeed and reach your full potential. From your perspective, it’s a good way to increase your yearly earnings, even if you don’t get the base salary you were aiming for.
5. More PTO
Want to spend more time outside of the office? Negotiate for more time off than what their current policy would give you.
RELATED: 15 Companies That Offer Unlimited PTO
6. Professional development opportunities
Professional development opportunities include access and reimbursement for training, workshops, and conferences.
These benefits enable you to enhance your skills and advance your career. This, in turn, also keeps the company at the forefront of industry trends and practices. If you are especially eager to learn, grow, and remain competitive in your field, this could be a great benefit to negotiate.
7. Better insurance benefits
Health insurance is a common benefit that employers provide.
Every company is different in how they administer their healthcare benefits, so it’s worth inquiring about how it’s done. You may be able to negotiate a better insurance plan or fewer out-of-pocket costs on your end.
8. Stock options or equity
Stock options or equity in the company give you the chance to own a piece of the business. Though this is a long-term investment and may not pay off anytime soon, stock and equity foster a deeper connection and commitment to the company’s success.
9. Relocation assistance
Relocation assistance helps cover the expenses and logistics of moving for a job, including moving costs, travel expenses, and temporary housing. This support eases the transition for new employees, which is great if you’re considering a position that requires moving to a new city or country.
10. Job title
A better job title can have a significant impact on your career trajectory. It often reflects higher status, responsibility, and recognition within the company.
For jobseekers, an enhanced title can be a powerful tool for career advancement, increasing your marketability and opening doors to future opportunities.
12. Work equipment or home office setup
Have a dream WFH setup in mind? Negotiating office gear or an equipment stipend can help with this! This benefit can improve comfort, efficiency, and productivity, making it a key consideration if you value a well-equipped and ergonomic working environment.
13. Paid parental leave
If a growing family is on your horizon, negotiating paid parental leave can reduce stress by giving you a significant amount of paid time off to care for your newborn.
14. Tuition or student loan reimbursement
Recently graduated or still going to school? Tuition or student loan reimbursement could help you further your education or pay off your debts.
Tips for negotiating job offer benefits
Negotiating any benefit with an employer follows the same general rules as negotiating a higher starting salary.
Keep the following tips in mind:
- Prioritize your needs: Identify which benefits are most crucial for your personal and professional life. Trying to negotiate for all of these benefits will likely lead to unfavorable results or even a rescinded job offer.
- Articulate your requests clearly: Clearly and succinctly communicate the specific benefits you’re seeking, ensuring there’s no ambiguity in your request.
- Let the employer know why you are worth it: Emphasize your unique qualifications and accomplishments to justify your benefits request. Explain how your skills, experience, or expertise align with the company’s needs and goals. Illustrate past achievements that showcase your value to the organization and how additional benefits would enable you to contribute even more effectively.
- Be flexible and open to counter-negotiations: Show willingness to consider alternative benefits or compromises that the employer might propose.
- Always be respectful: Maintain a respectful and professional tone throughout the negotiation, regardless of the outcome. This helps preserve a positive relationship with your potential employer.
Remember, most companies are open to negotiations when it comes to job offers. In fact, some even expect candidates to negotiate. Rarely is a job offer rescinded because of negotiations, and when that is the case, it is usually because the negotiation was handled poorly.
Get the compensation package you want
The right mix of benefits can significantly enhance your job satisfaction and work-life balance, making it just as important as your salary in defining your overall compensation package. With so many options, start your negotiation process by prioritizing your needs and understanding what benefits will bring value to your life.