Negotiating: It’s About More Than Just Money

Benefits at your new gig are about much more than just your paycheck every two weeks. Many people think of asking for a few thousand dollars more a year when they go into the office to negotiate a deal, but salary isn’t the only thing to take into consideration.

† Insurance

The majority of working people can’t say no to insurance. It wouldn’t be a smart decision come flu season, not to mention wellness visits and dentist checkups. But, if you are under 26 and your parents allow you to stay on their insurance policy – DO IT.

Insurance is a major deduction from your paycheck. If this is your first major job out of college and you have no children, you’ll be able to save up a great deal of cash if you forfeit insurance. And not only does it benefit you, keeping your hard earned money for yourself, it’s great for your company too because you are one less person they have to pay for, should you need surgery or medications.

A good place to start is how many years you don’t need an insurance plan. If you are 23, ask for an extra $3,000 because the company won’t have to pay anything toward your medical expenses for three years.

† Paid time off/sick leave

As someone who was given only two holidays off a year and had no vacation days for the first six months, paid time off is a big deal, especially your first missed Christmas home. Again, if you are forfeiting a health insurance plan, ask for a few extra paid days off in place of a higher salary.

You may think the money is more important than a couple extra days to yourself, but averaged out, $3,000 is only a little over $100 extra a paycheck – easy to spend without realizing it. Try taking an extra day with your family next Easter, and you’ll see a drop in your paycheck if the day wasn’t taken as paid vacation.

† Growth opportunities

You can’t exactly negotiate growth opportunities before you start working. No company is going to promise a promotion to someone they haven’t yet seen hit the books, but setting a time for a raise, say six months or a year, is security for both you and your employer. You are promised a more comfortable paycheck, and your employer is promised time not spent hiring someone to fill your vacant spot.

The next time you go into your boss’s office to talk about a raise, don’t take no to a higher salary as defeat. Negotiate things other than straight cash, and you both can walk out happy. For more on negotiating an entry-level job offer, check out websites like H&R Block or Forbes.

Gif of Success.Taking care of business

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