how to negotiate benefits in a job offer

• 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

Why you should negotiate a job offer?

… whatever our circumstances, Joseph Barber writes, we should all negotiate for something as part of our next job offer. Negotiation is an important way to advocate for your professional skills and experiences.

What should I consider before accepting a job offer?

You also need to know these details:

• How often you'll get paid.
• Whether there's a bonus plan, and if so, what that bonus plan entails.
• When your performance and salary review will take place.
• Whether or not you're eligible for overtime, and if so how that overtime is calculated.

How to negotiate salary and job offer?

How to ask for a raise — negotiating a higher salary & more

• Know and Prove Your Value. Understanding your worth is the bread and butter of helping you make your case to finally get that raise.
• Rehearse Your Pitch. Don't go into your meeting with your boss unprepared. ...
• Have a Backup Ask. Why is asking for a raise so scary? ...
• Timing is Everything. ...
• Leverage Another Career Opportunity. ...
• Pitch New Ideas. ...
• Don't Be Afraid. ...

How to negotiate, accept, or decline a job offer?

• Think about what you want out of your job and use that as a framework to determine the elements of the offer you would like to alter
• Be selective about what you push back on
• Employ classic negotiation techniques by maximizing the cost of the things you are prepared to accept and minimizing the things you seek.

What to say when negotiating benefits?

You might say something like: "I definitely understand budgeting issues, and I want to be as flexible as possible to work with your team. I'm still very excited about joining your group, and would like to explore whether $60,000 is possible given my specific experience and skill set."

How do you counter offer a benefit?

How to Negotiate a CounterofferKnow your value and the industry rate for your position. ... Don't rush it. ... Don't forget non-salary benefits. ... Don't push too hard. ... Don't say too much. ... Know what's really important to you. ... Use a template to frame your request.

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.

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.

Do employers expect you to negotiate?

But you should know that in almost every case, the company expects you to negotiate and it's in your best interest to give it a shot. In fact, a study by Salary.com found 84% of employers expect job applicants to negotiate salary during the interview stage.

How do I negotiate a better benefit package?

5 Tips to Negotiate Your Compensation PackageDon't Be Afraid to Ask. Here's a simple tenet but one you should never forget: It never hurts to ask. ... Think Outside of the Paycheck Box. ... Get a Better Title. ... Seek Out Learning Opportunities. ... Get Everything in Writing. ... Make Compromises Between You and Your Career.

How do I ask for more 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.

What other benefits can I negotiate?

11 Benefits You Should Negotiate Other Than SalaryProfessional development. ... Phone allowance. ... Transportation reimbursement. ... Your title. ... Vacation time. ... Work from home/remote. ... Childcare reimbursement. ... Educational opportunities.More items...•

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 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

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

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

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.

Health benefits

It's unlikely that you can negotiate a better rate within the company health plan. However, if you already have external coverage — say, through your spouse — you may be able to negotiate for a higher salary if you forego the insurance plan at work.

Bonuses and commission

Ask about the possibility of earning a bonus for exceptional performance or for reaching a certain service milestone with the firm. Alternately, if the company offers a 401 (k) plan, consider requesting matching funds or an additional annual contribution to your account.

Paid (and unpaid) time off

Some companies will negotiate with new hires for more vacation or sick days, and, in general, there can be more flexibility here than with other elements of the employee benefits package. One option is to request more time off from the start — three weeks of paid vacation rather than the standard two, for instance.

Flexible work schedules

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. Plus, you'll be trading commuting time for more personal or work time.

Training and continuing education

Ask whether the company provides financial support for obtaining an advanced degree or certification. Sometimes, company policy requires that employees work for a set amount of time — usually one year — before becoming eligible for this benefit.

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.

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.

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.

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 do we need paid time off?

Paid time off allows an employee to avoid burnout and strike a work-life balance, which helps them cultivate job satisfaction and be more productive at work. Demonstrate the need for paid time off to the employer. By explaining how time away from work allows you to come back refocused and reenergized, you may be able to obtain a few extra days off or ask for leeway on a pre-planned trip.

Do employers offer benefits?

Most employers offer basic benefits that help employees cover the costs of healthcare and invest in their retirement, but some employers offer even more. From flexible work schedules to personal days and paid time off to volunteer, there is a world of other benefits out there than you can leverage in your negotiations.

Can you know if you are entitled to benefits?

You can gain a better understanding of the typical benefits in your industry, but it might be difficult to know the benefits you’re entitled to. It’s a little more tricky to research benefits in a specific role because they vary by company, but ask your network about the benefits they receive.

What is the primary influencing factor in negotiating a contract?

Salary. It makes sense to start with the big one. For most folks, salary is the primary influencing factor in their decision to negotiate. At The Hired Guns, we believe that you should always attempt to advocate for your own interests, even if the offer is pretty solid.

How to find market value of a job?

If you’re not sure how to determine your market value, Jim recommends the following steps: 1. Look for job postings in which the salary is listed. 2. Check websites such as payscale.com, salary.com, and glassdoor.com. 3.

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.

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.

What does it mean to ask for a better title?

Having a more marketable and impressive title means you’ll have something to lean on when the time comes to ask for a promotion or when you’re moving onto your next company.

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.

Should You Try to Negotiate When You Get a Job Offer?

The first question everyone has during the job offer process is, “Should I negotiate?”

Tips on How to Negotiate a Job Offer Like a Pro

Now that you’re confident in your ability to negotiate, there are a few tips to keep in mind while submitting your counteroffer.

Wait to Discuss the Salary Until You Have a Formal Offer

You want to avoid talking about compensation until the hiring manager is convinced they want to work with you. After they’ve invested time and thought into your candidacy, you’ll have the most bargaining power. But sometimes employers want to discuss the salary early in the interviewing process—or even when you first apply to a position.

Once You Have a Job Offer, Be Prepared to Negotiate

Research your job title, region, and experience level to find a realistic salary range. Think about what you learned about the company and the open position during the interview. What contributions can you make to the organization? How does this factor into their bottom line? Use these points to guide your discussion.

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.

Is it "negotiating a salary" or "negotiating a job offer"?

Sadly, to many people, “negotiating a job offer” and “ negotiating a salary” are synonymous. But much of your satisfaction from the job will come from other factors you can negotiate—perhaps even more easily than salary. Don’t get fixated on money.

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.