What other factors besides salary do I need to consider when negotiating compensation?

April 25, 2017

 

The figure on your bi-weekly paycheck is only one component of the overall compensation package offered by an employer. Other factors such as health insurance, life insurance, disability, stock options, yearly bonus, paid time off and continuing education assistance must also be taken into consideration. At some organizations, these other factors can also be negotiable.

 

View the full picture and gain a clear understanding of the total benefit that you would enjoy from an employer.

 

For example, Company A pays an employee $50,000 per year, but only offers a watered down health insurance plan and five days of paid vacation.

 

Company B pays an employee $45,000 per year, but offers a full-service comprehensive benefits package with 30 days of paid time off per year and top-notch insurance. 

 

In this case, the “better” offer will depend on what value you place on the various components of the total package.

 

Read More Career Advice for Therapy Professionals

 

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