Not just the salary, you can negotiate the perks in your job offer too. i bet you didn’t know this. Negotiating with the perks is equally beneficial if not more. And your employer is more willing to negotiate on the perks than the salary.
Health insurance is not something you can negotiate. No amount of efforts there would help you get a larger coverage or coverage for more people in the family. It is more or less fixed with little to no flexibility. But the following can certainly be negotiated.
Stock Options and/or Bonus
Many a times managers are bestowed with the power to increase bonus or stock options of employees. These don’t really help you get more money instantly or doesn’t even raise your salary, allowing you to get bigger raise next time, but it certainly helps in some way. One has to realize stock options depend a lot on market conditions in case of listed companies, and even more when the company has not gone through an IPO so far. Bonus does give you money to use immediately, but it is not considered in the base salary while raising your salary the next time.
If you can’t get your hiring manager to boost your salary, at least you can negotiate with stock options or bonus.
Young people often prefer experiences over possessions. To those young people, here is a good news. You can negotiate more paid holidays per year. And the best part is that this negotiation is easily accepted by managers. Especially when asked to increase salary first.
Commuting is an expense. The more you commute to work and back, the higher will this expense be. And not just expense of commuting, frequency of washing and ironing clothes goes up. consumption of coffee and restaurant food rises too. Overall expense increases significantly with office commute. If you can get the flexibility to skip coming to office on some days and work from home, then your expense also reduces. You commute time is saved too. All this adds up to more saving on money and time. And managers are less likely to reject such negotiations.
This might sound absurd to you at first. But this could really help you get a salary hike early. If you negotiate with your manager to schedule your review 6 months early, it is highly likely that you get salary hike six months early. That is six months of hiked amount extra as earning.
With these options, you are sure to earn more with less efforts. Managers can be easily convinced for these benefits if not salary hike.