What to Negotiate Besides Your Salary

When most people think of job offer negotiation, they immediately think of trying to get better pay from the company in the form of more salary or a higher per-hour rate. But a job's compensation consists of many elements. Consider also negotiating these key aspects of your compensation package.

Vacation
The nice thing about negotiating vacation time is that it's not a direct, out-of-pocket cost for the company. So it can often be easier for hirers to let things slide and give you what you want. Small companies are generally more flexible than large firms on this one, since they're less prone to being ruled by rigid corporate guidelines. Start by negotiating more days in general, but if that doesn't work, look to accrue time more quickly. Or use it as a bonus -- if you achieve certain measurable goals, then you get a pre-determined extra amount of time off. At the very least, see if you can roll your vacation time over instead of losing it at the end of the year.

Insurance
This one can be a little tough, since most companies buy insurance in preset group packages. So you're best off trying other, more flexible aspects of your compensation to negotiate first. That said, if you have special needs that depend a great deal on insurance, this might be a good place to start. Begin by asking if the company has any leeway to negotiate on insurance before you waste time butting your head against the wall on it.

Miscellaneous Perks
Such extras as expense accounts and company cars typically offer tremendous room for negotiation. And it's not just whether or not you get such perks. Consider what the exact nature of them is. For example, is the "company car" a used Ford Taurus or a brand-new Mercedes S-Class? And is it going to be replaced every year, or every four years? Obviously the difference in terms of compensation could be huge.

Severance
Extra money for layoff time is a great thing to negotiate, because the company knows there's a pretty good chance it will never have to pay out on this request. Naturally, if the organization doesn't offer any severance to begin with, any amount of it you can score should be considered a nice extra.

Bonuses
If a company won't go any further with your salary and you still aren't satisfied, try working out a bonus that's tied to your performance. Just make sure to bust your butt where it counts so you actually get the extra pay -- it looks bad indeed to make them bend the rules to give you a bonus and then you don't deliver on your end later.

Job Title
You should always lock in the specific responsibilities and expectations of the job before you even begin to discuss compensation. But the actual title of the job can be brought up later in negotiation as a way of making up for shortcomings in compensation. Having a better title can make a huge difference when you look for your next job, by allowing you to present yourself as one step further up the ladder with a reasonable degree of truth. And such an advantage may even kick in before you leave the company. If you can present yourself in a somewhat higher position, it might give you leverage to take on more responsibilities and get assigned to prestigious projects. Your better title can also come into play for internal promotions. Best of all, job titles don't cost an employer anything, at least up front anyway. So companies are often glad to concede this point to get out of other more costly demands.

Review Period
How often you're to be reviewed and considered for raises can make a big difference in your overall compensation. Negotiating for an early first review can be a terrific way to compromise when a company won't meet your salary demands. By accepting their final offer and then getting a salary review just a few months after you start, you give them a way out of a salary bind for now, while also building in a chance to prove yourself and your abilities in a way that's more directly linked to compensation.

Which of these compensation elements you emphasize will depend largely on your individual needs, preferences, and negotiating skills. But no matter what your priorities are, if the company isn't offering enough salary, you should consider trying to make up for it with some of these other key components.