According to job search website Monster.com, there are many signs from the company that you should find a new job but the best reason is that you have an eye on your own career trajectory. Even if you are happy with your job, if you do not see opportunity for advancement that matches you goals then it is time to find a job that will. Doing it this way means that you will be interviewing at the top of your game, allowing you to negotiate better benefits and perks.
Salary
Knowledge is power during negotiations. Before you sit down to accept a job, do some research on the company, especially their financials and the regional and national wage averages for your job class. These will give you a guideline for your salary requirements. The United States Bureau of Labor Statistics has wage information on almost any job category and industry sector that you can imagine. With these as a parameter, you can ask for the top of the salary range. Feel free to use the information as part of your negotiations, pointing out that these are the standards.
Signing Bonus
Even at entry level, there are certain fields that naturally offer signing bonuses. Nursing tends to top the list because of the deficit in qualified nurses. If you are being offered a job in a field that generally offers signing bonuses, then make sure that you get yours and that it is in writing. Even if you are not in one of those categories, you can negotiate a signing bonus based on your expertise. It is up to you to make the case that you are special and deserving of incentive to work at the company. This is especially effective if you are between two similar companies that can be played against each other.
Moving Cost
If you are moving from one place to another and the company knows that you are doing this for their benefit, then it only makes sense that they pay the costs. For example, this may include the assistance provided by relocation experts like ARC Relocation services. Like everything in negotiations, information is the key. Relocation can be expensive, especially if you’re looking to rent an apartment in a big city like NYC, the only thing really cheap could be the apartment cleaning. So look at ForRent.com to get an idea of the leasing costs for a new place as well as the cost of the actual move. Place this on the table and, like a signing bonus, make the case of why you are worth the cost.
Retirement Plans
There is a lot that you can negotiate regarding retirement plans that are less taxing on the company’s budget but still beneficial to you. The two negotiable amounts for your typical 401(k) plan are the matching amounts and the start date. Some companies will match a base salary amount but, if you are a bit older, you may be able to get them to match the make-up contribution for late investors. Companies often have a waiting period before you can start contributing. This can be anywhere from 60 days to one year. Negotiate this away, getting them to start contributions as early as the plan manager will allow.
Stock Or Other Ownership Options
If the company does not have a large open budget for your salary then you may be able to negotiate stock or profit sharing. This is the traditional golden parachute for a job well done. For every dollar that you make, save or generate, you get some type of monetary perk that does not get paid out until you either retire or the company sees the fiscal benefit.
If you recognize your value to a company, there’s nothing wrong with expecting or negotiating employment perks. In fact, you’ll likely find that such confidence and vision will serve you well during the interview and lead to increased job satisfaction once you start working.
Your career mentor,
Bud
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