Negotiating Compensation 3: Getting the Optimal Package
Overview/What You Will Learn
If the final offer is not high enough, consider negotiating for benefits that are in addition to salary.
- When you are given a final salary offer, if it is close to your range, you can negotiate for other forms of compensation as a package. Consider:
- Tuition reimbursement (even if you have completed paying for your MBA)
- Working as a independent contractor, if the tax benefits to you can be substantial
- Benefits including: health insurance, wellness, insurance
- Financial incentives including: stock options; profit sharing, performance bonus
- Moving and other housing expenses
- Research performance benchmarks associated with the position and propose a bonus based on your impact to the business.
Your Next Steps / Tips for Success
- Conduct research to be prepared with your response to the employer's final offer.
Since How to Make $1000 a Minute was first published in 1986, Jack has become a specialist in all aspects of salary and raise negotiations--from high-profile executive negotiations worth an additional $300,000, to strategies an hourly-wage worker can use to bargain for extra benefits or perks.
He has personally assisted over 2,000 individuals, one-on-one, in improving their careers through the challenges of job changes, career planning, and entrepreneurship, and has influenced countless others through his many seminars, courses, lectures, TV and radio appearances, and newspaper columns.
Jack's background includes seven years of study in the Jesuit order, where he earned a B.A. degree with 5 majors: Classics, Philosophy, Theology, Mathematics, and English. The holder of a master's degree in Vocational Guidance, he has had a wide variety of careers himself--teaching at the high school and college level, real estate management, corporate training and development, and career management consulting.
Contact Jack here: http://salarynegotiations.com/contact.htm.