how to negotiate benefits for a new job

• Understand what benefits you can negotiate. When you receive a copy of the company's benefits package, ask about the potential for negotiation. ...
• Do your research. Look online to learn what companies in your industry commonly provide as benefits and whether they align with your potential employer's offer.
• Provide specific reasons. Providing the reasoning behind your requests can strengthen your argument. ...
• Show your value. During the negotiation process, remind your potential employer of your worth and why they wanted to hire you.
• Get the final offer in writing. Once you have finished the negotiation process, make sure to get a written offer. ...

Full Answer

What questions should I ask before accepting a job offer?

When you meet a potential co-worker, ask them these questions:

• What made you decide to work here?
• What do you love most about working here?
• What do you think it takes to be successful here?
• What’s some advice you wish you had been given before you started working here?
• What are the things you wish you knew back when you took the job vs. now?

What to say when negotiating salary in a job offer?

Tips for salary negotiation

• Familiarize yourself with industry salary trends. Perform some preliminary research on industry salary trends before your interview. ...
• Know the salary range of the job you're applying for. Review the job description to see if the employer listed the salary or a range for the position. ...
• Take the time to think. ...
• Show excitement and commitment. ...
• Be open. ...

How to ask for more money after your job offer?

• Thank the company for their job proposal
• Ask for more negotiations
• Clearly point out what aspects of the contract you would like to negotiate
• Ask for the hiring manager’s response to your subsequent negotiations and your conditional statements

How to negotiate salary after a job offer?

What to Say When Negotiating Salary

• Obviously, it is only polite to start your job offer negotiations with a humble and straightforward greeting to the hiring manager or employer. ...
• Add a gratitude and excitement statement expressing how impressed you are to be considered for the position. ...
• Explain to them the value you will bring to their organization should they increase your salary. ...

More items...

What benefits can you negotiate in a job offer?

So, if there's no room in the budget for a higher salary, be ready to negotiate these other great perks and benefits.A big signing bonus. ... Training opportunities. ... A flexible work schedule. ... Relocation assistance. ... Smaller perks.

How do you negotiate a compensation package for a new job?

How to Negotiate Salary After You Get a Job OfferBecome familiar with industry salary trends. You need to enter a salary negotiation as informed as possible. ... Build your case. ... Tell the truth. ... Factor in perks and benefits. ... Practice your delivery. ... Know when to wrap it up. ... Get everything in writing. ... Stay positive.

What can I negotiate when getting a new job?

Things to Negotiate in a Job Offer (Perks and Benefits)Flexible Work Hours. Whether you work in-office or remotely, flexible work hours make your life a lot easier. ... Remote Work. ... Your Start Date. ... A Signing Bonus. ... Relocation Costs. ... A Better Job Title. ... Stock Options. ... A Career Development Plan.More items...•

Are health benefits negotiable?

You should know that some employee benefits are usually non-negotiable. At most jobs, this includes health benefits, 401(k) plans, insurance plans and stock options [source: Sturgeon]. That said, if you or a family member have a specific health concern, your employer might work with you to secure the coverage you need.

What is a good total compensation package?

The most common benefits employers include within their total compensation package, and statement, include but are not limited to: Annual salary or hourly rate of pay. Medical and dental benefits coverage (including employer-paid portions) Healthcare flexible spending accounts or health savings accounts.

How much do employers expect you to negotiate?

Your target number should always be more than the salary range you found in your research. Let's say the offer is $50,000. Based on your research, you know you should be making $60,000 to $65,000. So the target range you present in the negotiation process should be something like $68,000 to $72,000.

What benefits to ask for in a new job?

You can ask your employer to help you cover some of the costs your professional development involves. They can pay for training classes, seminars, certifications or conferences related to the job you are doing now. Some even offer tuition reimbursement for undergraduate and graduate classes.

Should I accept the first salary offer?

“Don't accept the first offer — they expect you to negotiate and salary is always negotiable.” “That's just not true,” says Weiss. Sure, much of the time there is an opportunity to negotiate, but some hiring managers genuinely give you the only number they can offer. The best way to find out, says Weiss, is to inquire.

When should you not negotiate salary?

Don't negotiate your salary until you have a firm offer. Don't try to get one company to match another company's offer. Don't rely on the estimates you see on a salary website. Don't fixate only on money.

How do I ask for better benefits?

How to ask for more benefits and sweeten a job offerKnow the going rate. ... Ask for flexibility. ... Take advantage of growth opportunities. ... Negotiate for the title you deserve. ... Ask for more vacation time.

Can I decline benefits for higher salary?

You can say that you'll agree not to ever take benefits, but the company can't sign off on that. And as for agreeing to take a pay cut if you decide to take benefits, that doesn't go over well either. No one likes to get their pay cut, even if they volunteered to do so 3 years previous.

Can you negotiate no benefits for higher salary?

The majority of employers are open to negotiating salary for some or all positions once a job offer has been made, but that openness does not extend to bonuses and benefits, according to a new survey.

What to do when you receive a copy of a company's benefits package?

When you receive a copy of the company's benefits package, ask about the potential for negotiation. They may tell you that certain aspects, such as insurance plans or 401 (k) contributions, are not negotiable while others are. Once you gain this clarity, you can begin determining where you need to negotiate. For example, if the non-negotiable benefits do not meet your standards, you can start thinking about asking for benefits that would supplement those needs.

How to convince your potential employer to hire you?

Reiterate the successes from your professional history, such as your ability to save costs, streamline processes or promote growth. Then explain how you aim to provide that same value to their company, and the benefits you receive should reflect that. When employers recognize the talent and advantages you offer, it may make them more interested in adapting to your needs.

What do you need to know when you get a promotion?

When receiving a promotion, you need to understand what the role entails before accepting the offer. Find out what the responsibilities include and determine whether you have the necessary skills or training to perform them. If you know you can carry out the tasks of the job, you will feel more confident about your qualifications and thus your ability to negotiate.

What to say before accepting a job offer?

We’ve all heard about the value of negotiating salary before accepting a job offer. “Know your worth,” “Ask for what you deserve,” “Be willing to walk away if you don’t get what you want,” and so on. But a new hire package typically comes with other benefits woven in—many of which are up for negotiation, as well.

What are the benefits of a new hire package?

But a new hire package typically comes with other benefits woven in—many of which are up for negotiation, as well. Paid time off, parental leave, commuter benefits, professional development opportunities, tuition reimbursement—the list goes on. There are so many things you can consider when assessing an offer, and understanding the full range ...

What to ask for if you have a long commute?

“If you’ll have a long commute, there are plenty of benefits you should consider asking for. For instance, you could request that they provide you with an automobile to use. If they won’t do that, maybe they could add your car to the company insurance policy, cover a certain portion of your automobile expenses, or share the cost of a leased vehicle.” —Michael Rainey, a business instructor at Pepperdine Graziadio Business School

What is non monetary benefit?

“Sometimes, non-monetary benefits can translate into greater value than a simple raise can. For example, negotiating for a more senior-level title or office is an obvious way to create non-monetary value for yourself. Plus, your ability to innovate and create bilateral benefits might impress the prospective employer, as well.” —Michael Rainey

Can you ask about stock options?

“You can always ask about stock options or other long-term incentives if you’re at the management level. Many companies reserve some of these benefits for certain levels, but it never hurts to ask if it hasn’t come up.” —Tiffani Murray

Is it reasonable to work from home?

“Working from home is becoming increasingly popular, and it’s a completely reasonable ask for most jobs . Just be sure to negotiate for it appropriately. Don’t just drop in out of nowhere and ask your boss if you can work from home every Friday; make the ask after you’ve finished a great project, or frame it in a way that benefits the company.

Can you negotiate a sign on bonus?

You can negotiate for a sign-on bonus or relocation bonus when you first accept an offer, and you can also negotiate for other kinds of bonuses—ones you earn if you excel at your job.” —Claire Bissot, the managing director of HR services at the financial services and business consulting firm CBIZ. 17.

Why is it important to negotiate your benefits?

It’s important to negotiate your benefits while thinking about your long-term goals , such as retirement . While you may be new to the workforce and just starting out, you could be working in this position for some time. Therefore, you’ll want benefits that protect you throughout your life.

When negotiating benefits, is it important to know what you want?

When it comes to negotiating your benefits, it’s important to know what you want. By clearly defining your goals, you’ll be better equipped to outline your wants and needs to the employer, ensuring that the negotiation meeting is a productive one.

Why do you research benefits offered by a company?

You’ve probably already done this during the interview phase of landing a job, but researching the benefits offered by the company will allow you to understand which perks they offer so you can negotiate the right ones. It will also demonstrate your interest in the company and hopefully put your boss in a more positive attitude during negotiations.

How to negotiate 401(k) match?

To negotiate a 401 (k) match, start by seeing if the company matches your contribution. Consider the salary you were offered, too. A company may be offering a high salary, but unwilling to match your 401 (k) contribution.

How to negotiate additional insurance perks?

To negotiate additional insurance perks, start with an understanding of the company’s existing insurance offerings. If they don’t offer an HSA, see if they’re willing to, or ask for the employer to contribute more funding towards your insurance coverage.

What are commuter perks?

Commuter Perks. In some cases, the job you’ve been offered might be a bit of a distance from where you live. When you receive the job offer, negotiate commuter perks with your employer. You may be able to leverage stipends for bus or train fare or even gas by demonstrating the expense of getting to work.

Why is it important to research the benefits offered to you from an employer?

Ultimately, the benefits you are offered should be a deciding factor when you’re considering a new job.

What to do before replying to job offer letter?

Before you reply to that offer letter, you have to make sure it’s the job you really want. To do that, you need to take a hard look at the fine print.

When you receive an offer, do you have the upper hand?

When you’ve received an offer, you have the upper hand—while you may not get the requests you make, this is the one time that your prospective employer is ripe for negotiating. Plus, you may find that while there’s no leeway for negotiating a higher salary, benefits adjustments are easier to accommodate.

What are the benefits of 401(k)?

Benefits are more than just health insurance and 401K plans. These days, they include perks like extra vacation days and the opportunity to work remotely . Now’s the time to get creative.

Why is it important to ask about educational opportunities?

Asking about educational opportunities not only makes you look intellectually aware and motivated to your future employer, it also opens the door for potential opportunities for personal career growth, like conferences, seminars, certifications, and even degree programs that you may not otherwise have access to.

Is money good for job hunting?

Money's pretty great, but you'll also want to make sure you're getting the best perks at your company. Here's how to negotiate the best benefits for you. We all know that job hunting can feel like a full-time job.

Is a company's benefits package negotiable?

The thing many of us don’t realize is that a company’s standard benefits package is usually negotiable. Perks play a surprisingly powerful role in how you'll feel about the job—in the end, they can make a seemingly average salary offer quite tantalizing.

What to negotiate with a new job?

If you’re looking for a new job, you can negotiate the first offer they give to you if it doesn’t meet your expectations. Counteroffer with the number you’re comfortable with, but don’t forget to consider their compensation package as a whole. While they may offer a lower starting salary than you expected, they may provide additional perks like outstanding health insurance, a signing bonus, or in-office child care.

What to do when you are negotiating a job offer?

If you’re negotiating a job offer from a potential employer, your next step will either be to accept or refuse the counteroffer you receive.

What to do if you don't hear back from your boss?

If you don’t hear back within a week, follow up with your boss or hiring manager to ask for an update. Don’t let them avoid giving you an answer, even if it isn’t what you want to hear. If your request is refused, it can affect whether you accept a job offer or start looking for new employment.

How to manage emotions?

Another way to manage your emotions is to plan for the conversation in advance. Book a meeting with your boss or hiring manager beforehand so you can both be prepared. Feel free to let them know you’d like to schedule a time to discuss your compensation so that you’re both aware of the purpose of the meeting.

How is base salary influenced?

Your base salary is influenced by a variety of factors, including where you live, the industry you work in, and your level of experience. The first step you need to take when preparing to ask for increased compensation is to research the average salary range for your position in your area.

Why is salary important?

Your salary is one of the most important aspects of your life, and you should have input as to how much you earn. Being underpaid affects your lifestyle, your retirement, and your attitude toward your job.

How to counter a higher offer from another company?

Alternatively, you can also use a job offer as leverage with your current employer. Let them know you received a higher offer from another company and give them a chance to counter . This way, they can decide if they’re willing to match the offer you received, or if they’d rather let you go. However, make certain that you actually want to work for the offering company, since it won’t look great if you don’t get an increase but stay with your current employer anyway.

How to negotiate an alternate work arrangement?

The key to negotiating an alternate work arrangement when discussing the employee benefits package is to include your thoughts on how this type of perk would benefit the firm, not just you. Coming into work an hour later than the rest of the team, for instance, might save you half an hour on your commute and allow you to be more productive in the morning.

What to do if your employer doesn't offer subsidized training?

If a potential employer doesn't offer subsidized training at all, you might ask if they would be willing to if the training you pursue benefits the organization — if you're an accountant working toward a CPA designation, for example.

What are the benefits of telecommuting?

A great perk to have in your employee benefits package is the option of pursuing alternative work arrangements. Telecommuting once a week can save you money in commute costs and effectively increase your salary — not to mention the reduced wear and tear on your car.

What did new hires take from potential employers during the recession?

During the recession, new hires often took what they were initially offered from potential employers. Back then, the idea of negotiation seemed like looking a gift horse in the mouth. But now that the job market has improved, especially for highly skilled talent, applicants are once again feeling confident about asking for more than the offer on the table — including a better employee benefits package.

How many weeks of vacation do you get for a new hire?

One option is to request more time off from the start — three weeks of paid vacation rather than the standard two, for instance. Another is to ask that your allotment of vacation and sick days be increased more quickly than would normally be the case. A third option might be to take unpaid time off from time to time.

Can you forget your benefits package when you start a new job?

All it takes is a miscommunication between the hiring manager and human resources. So be sure all details of your employee benefits package — including any special adjustments you've been granted — are clearly stated in your contract or offer letter.

What is the first step in negotiating benefits?

If an employer decides to negotiate benefits, the first step is choosing which benefits programs can be included in the negotiations. Employers must "be clear about what benefits they are legally able to negotiate," said Kristen Fowler, practice lead with Clarke Caniff Strategy Search in Troy, Mich. "Be upfront with employees and job candidates on what benefits the organization offers and if they can be changed," she said.

What is the importance of negotiating benefits packages with current and prospective employees?

An employer's willingness to negotiate benefits packages with current and prospective employees can make all the difference when it comes to retaining and hiring talent.

How many employees negotiate benefits?

Employees are proactive when it comes to these negotiations. Of the 64 percent who attempted to negotiate benefits with at least one employer, 87 percent did so during the hiring process and 60 percent after being hired. Roughly 80 percent of those who sought to negotiate benefits said they were successful, according to the survey by Paychex, a payroll and benefits services firm.

Which is more likely to request flexible work hours and parental leave?

Women were more likely than men to request flexible work hours and parental leave.

Do employers need to have policies for telecommuting?

As these requests and questions become a fixed part of recruiting processes and employee retention strategies, employers will need consistent policies governing telecommuting.

Is employee benefits negotiation difficult?

Employee benefits negotiations can be difficult, however, with a range of legal, tax and regulatory issues involved. Although the Paychex survey found that 401 (k) matching or discretionary contributions are the most desired benefit (cited by 75 percent of respondents), employers must tread carefully when considering these requests so that they do not run afoul of IRS nondiscrimination requirements.

Do unlimited PTO programs have pros and cons?

Of course, unlimited PTO programs have their own pros and cons that employers should monitor and consider when administering these programs.

How to negotiate salary?

It’s important you know exactly how much value you can offer an employer before you begin the process of negotiating a salary. There are several factors that can influence your compensation, such as: 1 Geographic location: Consider the cost of living in your geographic location. For example, you might require a higher salary in San Francisco than Minneapolis for the same set of responsibilities because it generally costs more to live there. 2 Years of industry experience: If the job description requires 3-5 years of experience and you meet the higher requirement, it might warrant a higher salary. 3 Years of leadership experience: Similar to industry experience, if the employer prefers or requires leadership skills and you meet or exceed their expectations, it may be justification for higher pay. 4 Education level: Relevant bachelor’s, master’s, PhD or specialized degree programs can impact your compensation depending on the role or industry. 5 Career level: In general, you might expect a higher pay range as you advance further in your career. 6 Skills: Niche or technical skills that take time to master may attract higher salaries. 7 Licenses and certifications: An employer may require or prefer that you have specific licenses or certifications. If you already have them, you might be in a good position to request greater compensation.#N#When you begin your salary negotiation, be sure to reiterate why you’ll be a valuable employee and consider using the above factors to justify your desired salary.

Why is salary negotiation important?

Salary negotiation is a critical step in the hiring process. By taking the time to talk through why you feel you need more compensation, you can help employers better understand the value you provide. As with any new skill, the more you negotiate, the more you’ll improve and the easier it will become.

What is the rule of salary negotiation?

One fundamental rule of salary negotiation is to give the employer a slightly higher number than your goal. This way, if they negotiate down, you’ll still end up with a salary offer you feel comfortable accepting. If you provide a salary range, the employer will likely err on the lower end, so be sure the lowest number you provide is still an amount you feel is fair.

How to deliver a negotiation with confidence?

Delivering your negotiation with confidence is as important as the words you say. The more confidence you convey, the more confident the employer will be in their consideration of your feedback. Confidence, an appreciation of our own abilities and qualities, should not be confused with arrogance, an exaggerated sense of our importance. Lack of confidence can also result in over-explaining or apologizing for your ask, neither of which is helpful in a negotiation scenario. Instead, confidently and simply state your requested salary, including a brief summary of your reasoning.

What to do if you don't feel the pay aligns with your education?

If you don’t feel the pay aligns with your education, career level, skill set and experience, you may choose to negotiate for more money. You may also suggest another form of compensation, such as equity or stock options, or additional perks such as extra vacation days. Knowing how to negotiate salary offers is a valuable skill ...

What to say when you reach the offer phase of a job?

Once you reach the job offer phase of the hiring process, you’ve probably invested a great deal of time and energy applying and interviewing for the position. The employer has also invested time in the process, so it’s crucial you recognize this and thank them for considering you for the opportunity. Be sure to share any specific reasons why you’re excited about the job, such as the culture or the product.

Why do you ask for an increase in salary?

Another reason you may ask for an increased salary is to cover any costs you’re accumulating by taking the job. For example, if you’re relocating to a new city for the job, you’ll have to pay moving expenses as well as any costs associated with selling or leasing your current home.

How to negotiate a job offer?

Don’t get fixated on money. Focus on the value of the entire deal: responsibilities, location, travel, flexibility in work hours, opportunities for growth and promotion, perks, support for continued education, and so forth. Think not just about how you’re willing to be rewarded but also when. You may decide to chart a course that pays less handsomely now but will put you in a stronger position later.

How to avoid pitfalls in negotiation?

This is about more than being polite; it’s about managing some inevitable tensions in negotiation, such as asking for what you deserve without seeming greedy, pointing out deficiencies in the offer without seeming petty, and being persistent without being a nuisance. Negotiators can typically avoid these pitfalls by evaluating (for example, in practice interviews with friends) how others are likely to perceive their approach .

Why don't companies give you a salary?

But they still may not give it to you. Why? Because they may have certain ironclad constraints, such as salary caps, that no amount of negotiation can loosen. Your job is to figure out where they’re flexible and where they’re not. If, for example, you’re talking to a large company that’s hiring 20 similar people at the same time, it probably can’t give you a higher salary than everyone else. But it may be flexible on start dates, vacation time, and signing bonuses. On the other hand, if you’re negotiating with a smaller company that has never hired someone in your role, there may be room to adjust the initial salary offer or job title but not other things. The better you understand the constraints, the more likely it is that you’ll be able to propose options that solve both sides’ problems.

How to make it seem like potential employers have it in for you?

Tough salary negotiations or long delays in the confirmation of a formal offer can make it seem that potential employers have it in for you. But if you’re far enough along in the process, these people like you and want to continue liking you. Unwillingness to move on a particular issue may simply reflect constraints that you don’t fully appreciate. A delay in getting an offer letter may just mean that you’re not the only concern the hiring manager has in life. Stay in touch, but be patient. And if you can’t be patient, don’t call up in frustration or anger; better to start by asking for a clarification on timing and whether there’s anything you can do to help move things along.

What is weak labor market?

In some industries, a weak labor market has left candidates with fewer options and less leverage, and employers better positioned to dictate terms. Those who are unemployed, or whose current job seems shaky, have seen their bargaining power... Job-offer negotiations are rarely easy.

Do companies negotiate?

Companies don’t negotiate; people do. And before you can influence the person sitting opposite you, you have to understand her. What are her interests and individual concerns? For example, negotiating with a prospective boss is very different from negotiating with an HR representative. You can perhaps afford to pepper the latter with questions regarding details of the offer, but you don’t want to annoy someone who may become your manager with seemingly petty demands. On the flip side, HR may be responsible for hiring 10 people and therefore reluctant to break precedent, whereas the boss, who will benefit more directly from your joining the company, may go to bat for you with a special request.

Can you adjust your salary if you never hired someone?

On the other hand, if you’re negotiating with a smaller company that has never hired someone in your role, there may be room to adjust the initial salary offer or job title but not other things.