Negotiating Non-Financial Perks: What to Ask for Besides Salary in an Executive Job Offer was originally published on Ivy Exec.
Many professionals dread the prospect of salary and benefits negotiation before accepting (or turning down) a job offer.
According to statistics, only 46 percent of men and 34 percent of women negotiate at all before accepting job offers. CNBC found that 58 percent of professionals took an offer without challenging it.
Companies are in part to blame for the mystery and anxiety surrounding salary and benefits negotiation. 70 percent of managers expect this back-and-forth before their offers are accepted, but few actually tell candidates that they are free to haggle over job terms.
Perhaps this is why many professionals who do negotiate focus solely or primarily on landing higher salaries. However, there are so many other non-financial perks candidates can ask for in addition to increased monetary remuneration.
“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. Beyond that, employee benefits often signify how much a company really cares about its employees,” said Sarah Woehler for Career Contessa.
Here are some non-financial perks you could consider requesting in your next salary negotiation.
A More Impressive Title
One of the best perks you can negotiate for is a better title.
While an impressive job title might not matter while you’re in the job, it can open doors in your next role. You can even be clear that you’re not asking for a salary increase, just a job title change.
How do you know what job title you should ask for?
“If you’re described as a coordinator, but you know you’re more of a manager, get that title in place. To determine what you think your correct title might be, consider consulting the company’s leveling guide – it should advise you as to the specific responsibilities for your role,” said Woehler.
Increased Time Off
If a company can’t offer a salary that meets your parameters, you could instead negotiate for increased paid time off.
You’re not earning more money per se, but your time is, essentially, worth more than it otherwise would be.
For instance, instead of working for eight hours for five days each week, you could suggest a schedule of nine hours per day for four days each week, a total of 36 hours. Or perhaps you ask for a month of total time off over the year, rather than the company’s policy of only three weeks.
Again, you want to come to the negotiation with the evidence others in your company and field have already secured similar time-off perks.
More Schedule Flexibility
If your company isn’t able to offer you more time off, you could request increased flexibility in your 40-hour workweek.
Perhaps you are most productive in the afternoon and want to work a non-traditional 11 am until 7 pm schedule. Or maybe you want to ask for a shifting schedule with working hours that you’ll schedule afresh each month.
Talent acquisition specialist Sara Curto suggests spending the first few months full-time in the office to demonstrate that you’re committed to the job and organization.
“Demonstrate to them that you’re committed to the job (hence spending the first few months in the office) and that you feel you can add more value to the company if you’re allowed a more flexible schedule,” she said.
Robust Professional Development and Training
Another non-financial perk is professional development opportunities.
For instance, you may want to ask for opportunities to attend conferences and take continuing education courses. While enrollment fees could be considered a paid perk, you could also request free professional development options, like a mentor who will help you learn the ropes.
“These days, no job is guaranteed or stable, so you need to think less about the 401K and more about the training opportunities you will have that will look good on your LinkedIn profile,” said Executive Coach Dr. Caroline Thorpe.
Increased Parental Leave
One of the most commonly overlooked non-financial perks you can ask for is increased parental leave.
If you are planning on welcoming a child to your family, you can ask for more time off than is standard company policy.
“The same rules apply to negotiating parental leave that applies to all other job negotiations. Just as you would for a salary negotiation, do a little research to learn what’s standard for people in your field. Can you share any comparative information with your prospective employer to help build the case that not offering a solid parental leave plan will put the company at a disadvantage when it comes to recruiting solid talent?” wrote Allison Kade for Fabric.
Why Negotiating Non-Financial Perks Is Important
When considering what they want most in their next job, 64 percent of the nearly-14,000 respondents to Gallup’s poll said they desired salary and benefits increases.
However, many of the other most important factors were non-financial benefits, including an improved work-life balance and well-being.
This poll indicates that while it’s important to secure higher pay in your next job, it’s also crucial to negotiate for non-financial perks. If you want a flexible, hybrid schedule, but your employer only offers nine-to-five, in-office schedules, you’re just not going to be satisfied. So, why not ask for the non-financial perks you’d require to be happy in the position?
Of course, negotiating salary is still important, especially for women of color who may be less likely to ask for what they deserve. Read our guide on the “5 Salary Negotiation Rules You Should Always Follow” for tips.
