Salary Negotiation: Part 3
Well, we made it to the final portition of negotiating a salary!
When making arrangements for a final offer it is important to consider the benefit packages as well. The following list mentions benefits common to salary offers:
- Year-end bonuses
- Relocation Assistance
- 401K and other investment matching programs
- Insurance Plans (you select the insurance benefits you want)
- Pension plans
- Company car or car allowance
- Car insurance
- Compensation time for unpaid overtime
- Country club or health club membership
- Life insurance
- Paid sick-leave
- Paid vacation
- Tuition assistance
- Professional development programs
- Child Care
- Home-based work oppurtunities
The Final Decision
When an employer extends a final offer of a compensation package, you should never accept the offer immediately. The appropriate action is to express your excitment at the prospect of becoming a part of the company and to ask for a few days to give the offer your final considerations. The traditional list of pros and cons can be a valuable tool during your final evaluation. Seek the opinions of mentors and advisors.
Upon making your final decision, you should contact the organization and verbally accept or reject the position. If you accept the position, a letter of formal acceptance detailing the specific position, salary, and benefits you are accepting should be forwarded to the company. If you decide to reject the offer, sending a letter of appreciation may maintain the lines of communication with the organization in case you wish to pursue future opportunities with the organization.