Four Things to Negotiate That Can Be More Valuable Than Salary
When it comes to getting a new job, the first thing we often think about is how much it pays.
While salary and your hourly wage are 100% important sometimes there are even more important factors beyond your paycheck.
As a career coach to thousands all over the world, I have found my happiest clients find jobs that not only help them fill their pockets, but also help them live better, grow personally, and fulfill their ideal careers. Let’s dig into the aspects of work life that are often left in the shadows but can really shine in your career journey.
Who You Will Work With
We often overlook this aspect when coming into a new job but your teammates can really make or break your day at work. In fact, they might just be the most important people in your life when you factor just how much time you spend with them.When you’re discussing a job offer, try to get a sense of who these people are. Ask if you can meet them, or at least have a quick chat over Zoom. Is there a good vibe in the team? Does everyone seem to get along? Do you think you’d fit in well? Remember, your teammates are the ones who’ll have your back when things get tough. Understanding and getting to know the team you’ll be joining is one of the boxes you want to tick that will help you make the right choice.
Perks Of The Job
Ah, benefits. Those extra factors that can make a job offer stand out more than just the base pay. We all know about health benefits, but that’s just the start. Since the pandemic, more and more job applicants are looking for work flexibility. Can you work from home if you need to? Or choose your own start and finish times?
Then, there’s the always-exciting annual bonus, a yearly thank you from your company for your hard work. And if you’re lucky, the company might even toss in a sign-on bonus as a warm ‘welcome aboard’ to your new role. Keep in mind, though, that sign-on bonuses aren’t always a given by every company.
All these benefits can add up, sometimes even more than an extra bit of salary. So next time you’re negotiating, remember to consider these perks and don’t be afraid to ask for what you want. If they can’t meet your salary expectations, you have a better chance to get other benefits to make up for it.
How Your Performance Is Reviewed
Moving onto a less tangible factor but equally important — how will your work get reviewed? Some bosses might watch how many tasks you tick off your list each day. Others could be more interested in the big projects you do over the year. Are you set to reach KPIs or OKRs? Or maybe it’s about how much your clients or teammates appreciate your effort?
Every boss does this differently, and it’s useful to know what they’re looking for right from the start. That way, you’ll have a clear bullseye to aim for, and you’ll know what a home run looks like to them. So, when you’re deep in your negotiation conversations, don’t forget to ask about this. After all, the first step to winning a game? Knowing how to score!
Equity And Stock Options
Being offered stock options feels like being handed a piece of the company pie. The bigger your piece, the bigger your share when the company becomes successful. These are big in the startup world and tech companies where they like to make team members feel invested in growing the business. But don’t get lost in the excitement too soon because this does not guarantee a surefire success. Sometimes, they can turn out to be worth nothing. So it’s a bit of a gamble but could go both ways. When your next job offer comes around, keep an eye out for stock options and understand what they mean. This can be something they throw in more of to sweeten the deal.
Remember, when it comes to the job hunt, always think beyond the initial salary. Yes, money is important but a more fulfilling and balanced role can play an even bigger role. So next time a job offer comes your way, take some time to examine these 4 angles. You might find a gem of an opportunity that offers you more than just money in the bank. Happy negotiating!
