how to negotiate benefits to maximize your job offer.

You pulled in a job offer, congratulations. However, before you jump at the opportunity, step back. Consider how to best negotiate benefits and other perks. If you fixate on your base salary, you’re straying off course.

Why? You’re overlooking the potential to flesh out a better deal. Furthermore, don’t lose sight of the overall package. Talking over benefits with a new employer can truly pay dividends for your work life. How? By helping you progress financially.

So, how can you create the best first impression? How to cleverly talk about benefits, so you don’t come across as desperate? This article helps you prepare for that conversation. It’s interesting, real and thought provoking. Dive in!

how to best negotiate for benefits.

Getting an offer puts you in a position of strength. The company wants you to sign up. They believe in your ability to deliver. They trust your potential. In fact, finding the right person is a challenge they want to put behind.

What does this mean for you? They want to close the deal, and you get a sneak peek into the benefits package they offer. This means, they’re ready to sit down and work out the details. Don’t let fear shut you down.

Step up and negotiate. Take charge of the opportunity and steer the conversation with confidence. Stand up for yourself, as employers also know you might show them a counter offer. However, they look for candidates who stand their ground and negotiate. It shows you’re worth their wait.

how to negotiate benefits: beyond the base salary.

When considering a job offer, look at the entire package. While your base salary is critical, other elements contribute to your overall compensation. Here are 12 key areas to consider when negotiating your job offer.

1. paid time off is one of your preliminary benefits.

Paid time off is a valuable benefit that directly impacts your work-life balance. Still, many companies offer more to attract top talent, so don't hesitate to ask for additional days, especially if you have experience or seniority in your field.

Vacation time is something to consider when accepting a job offer. Unwilling to use your entire vacation allowance? Learn why it's crucial to make the most of all your vacation days.

2. flexible work hours are a must.

With the changing nature of work, many companies now offer flexible schedules. Whether it's adjusting your start and end times or working from home occasionally, flexibility can greatly boost job satisfaction

Are you looking for a flexible job? Read our article on the subject or consult our remote work job offers.

3. benefits you can’t ignore: signing bonus.

You’ll run into signing bonuses more often in tight labor markets. They are a tool of trade when negotiations stall. Sometimes, a hiring manager simply cannot augment the salary offer. If that happens, suggest a one-time bonus to seal the deal.

This helps you get around the salary cap. Furthermore, it gives you prompt financial benefits to kick start your new tenure. This even helps your company. Why? They don’t have to factor in a higher base salary for years to come. 

4. a higher commission rate is not just a nice to have.

Do you work in sales or a performance-based industry? When evaluating a job offer, consider asking for a higher commission percentage. This allows you to profit off of your skills and is attractive to employers because you only get paid if you’re successful.

If you’re confident in your sales ability and don’t mind that your salary may fluctuate monthly, negotiating a higher commission can increase your salary long-term and offset a lower-than-desired base salary.

5. retirement savings matching.

A comprehensive job offer sets you up for the present and future. You can’t afford to ignore security in the long haul. You must dig into the details of their savings plans. Inquire about pensions and matching plans they may have reserved a spot for.

Moreover, traditional pensions are hard to track down now. However, most companies are matching RRSPs. How? They base this on your contributions. That said, you can safely count on a match between 50 and 100 percent. This helps you nest significant funds without feeling the pinch.

6. the benefits of working from home.

Do you hate commuting and wish for a better work-life balance? Do you think you can get more done in the peace and quiet of your home?

Something to consider when accepting a job offer would be to have the flexibility to work from home. Depending on your role, it could be full-time, part-time, or a hybrid, depending on your needs. If you’re new to working from home, consider asking for one day to work from home per week and go from there. If it’s successful, after accepting the position, you may be able to argue for even more work-from-home days going forward.

7. stock options are complementary.

Stock options are a great way to bet on your company’s future. For public companies, this perk can really pay off. You get the right to purchase their sates at a fixed price. If the market performs well, this move can turn into a major financial win for you.

However, don’t gloss over this section of the contract. You need to curate a list of specific questions. As about the vesting schedule to know how long your money is tied up. Find out the strike price. In addition, look for any restrictions on selling. Working out these details allows you to assess the value you’re locking in for.

8. relocation expenses can add up.

Heading off to a new city for work? The expenses can really pile up. Fortunately, many employers are willing to chip in. They want to you ease into the move. So, don’t hesitate to ask for support. Push for full coverage of moving costs.

Ask about temporary housing while you look around for a permanent place. Factor in travel expenses for your house-hunting trips. Crucially, nail down the financial terms. Figure out if the process involves submitting receipts or getting a flat fee upfront.

9. ongoing professional development is non-negotiable.

Your career depends on picking up new skills. You must consistently build on your expertise to climb the ladder. When you’re working out the details of an offer, bring up training in your chat with the recruiter. Don’t settle for stagnation. 

Ask for professional development allowances. Find out if there’s a budget to further your education. Check out any internal training opportunities they have in place. If you’re a new grad, ask for tuition reimbursement. It’s a sizable benefit to lock in early.

10. a better job title is all that you need.

When it comes to how to negotiate benefits, don't underestimate the power of a job title. It might seem like a small detail, but your title can significantly impact your career path. If you feel the offered title doesn't quite match your experience or responsibilities, speak up! 

Many employers are open to tweaking titles because it doesn't cost them anything. A better title can boost your professional profile and set you up for future success. Just make sure it accurately reflects your role. You don't want to overpromise and underdeliver.

11. childcare expenses to support your family.

Childcare costs can really eat up your monthly income. The bills add fast. You shouldn’t have to fork out all your earnings just to keep working. This is why, ask for specific childcare benefits. Do this when you sit down to hammer out your deal.

Progressive employers often set aside funds for this. They might run on-site childcare facilities. They could help you out with subsidies. Additionally, look for flexible spending accounts to pay down costs. See if they offer emergency backup to tide you over.

Never shy away from this conversation. Bringing it up shows you’re looking ahead. It proves you’re serious about sorting things out with your potential employer and that you prioritize the balance between work and personal life.

12. expense reimbursements take care of your costs.

Last but not least, let's talk about the day-to-day costs of doing your job. As a new employee, you might be surprised by the range of expenses you can negotiate to have covered. This could include your daily commute, business travel, meals with clients or even your home office setup for remote work. 

Some companies might offer a company car or phone instead of reimbursements. When discussing this with your potential employer, be clear about what you need to perform at your best. If you're expected to wine and dine clients, make sure there's a generous entertainment budget. If you'll be working from home often, negotiate for a grant to set up a comfortable and productive workspace.

randstad has your back.

Learning how to negotiate other perks and benefits can effectively boost your take-home pay. Your career aspirations are crucial when you gauge an offer. That said, you’re not running out of options. Explore our app to see a diversity to roles to choose from. Meet a recruiter and discuss your current and future career growth vision.