You have finally secured the job of your dreams that you have been working so hard for after beating your competitors and convinced the hiring company that you are the right choice. You now enter the final phase which is the salary and package negotiation. Most of the time, it’s in your best interests to negotiate salary. Not only are you likely to get more money, but not asking will almost certainly come back to haunt you. Keeping quiet could cost you hundreds of thousands of dollars over the course of your career.
When the offer isn't close to what you are expecting, there are many other things you can negotiate. Here are some of the things you can negotiate when accepting an offer other than money.
1. Signing bonus at the time of hire
A signing bonus is a one-time payment companies use to beat out competition if you receive an offer from another company with a higher salary. Companies may also use this as an incentive to make up for bonuses that a candidate might be missing out on as he or she starts his or her new job. This is not always presented to every candidate, so if you think you should be entitled to one, don’t be afraid to ask!
2. A Better Title
Sometimes negotiating for a more senior-level title can be a better way to create more non-monetary value for yourself especially in your next job. Think about a title that’s relevant to the job and specifically ask for it.
3. Ability 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 and be specific on your ideal arrangement.
4. Educational opportunities
To get to the next level on the corporate ladder, you need to level up your skills. If you can get your employer to cover the cost of that certification, class, or seminar, so much the better. The knowledge you gain now can have a big impact on your earning power in the future or the next job.
5. 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 wasn’t offered initially.