The standard benefits that most executives negotiate besides salary are health care coverage, life insurance, retirement savings, and vacation. Consider these additional benefits that could be part of the negotiations conversation.
Flex-time. The workplace has dramatically changed in the last few years, and companies are considering non-traditional work schedules. One theory is that companies are open to accommodating executive requests for flex-time because of the perception that executives work more hours in a day than the average employee. Whether that is true or not, negotiate this benefit if it is important to your lifestyle.
Telecommuting. The concept of “face time” in the company offices is dwindling. That’s not to say that as an executive you don’t need to show up to manage and motivate the troops, it’s just that companies are starting to accept work models like “Telecommute Tuesdays.” This can be advantageous to you when negotiating working from home a few days a week.
Expedited review. The possibility of an earlier salary review is an easy way to assuage a low-ball salary offer. Employers typically schedule a performance review at the 90-day benchmark to make sure there is a fit with the person/job, and then yearly thereafter. Negotiating a salary review before the one-year mark could land more money in your pocket.
Professional development. Ask about the opportunities the company provides for educational advancement. This perk benefits both you and the company. It also indicates to a hiring manager that you’re conscientious about growing professionally.
Bonuses, stock options, and shares. If you are seeking a position in the private section, don’t short change yourself by failing to negotiate these additional benefits. Research standards for what’s customary in your industry. Also stay informed on the corporate health of the company you are considering working for.
As an executive, your skills are at a premium and hiring managers know this when negotiating a job offer. It is expected that people will negotiate salary, but many executives leave money on the table by neglecting to negotiate additional benefits.
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