Money Isn’t Everything: 9 Negotiable Non-Salary Benefits to Offer Millennials

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When you’re job hunting, what are some of your requirements for an employer? You probably have a certain salary in mind—but maybe you’ll adjust that number a bit if you’re presented with any of these nine non-salary benefits as part of your job incentive package.

  1. Employee Stock Option
    Investopedia breaks down the definition and benefits of this benefit—which provides shares of company stock to employees of said company. Learn the differences between non-qualified and incentive stock options—and be sure to partake in benefit #3 below, if available.
  1. 401K
    Retirement seems ages away for millennials, but our parents have all made a point of telling us that they should have started saving for retirement at our age. Take their advice—and understand that a 401K plan from your employer is a valuable benefit.
  1. Financial Advising
    Millennials are notorious for their lack of financial expertise. If we’re educated and shown practical application, we’ll get the hang of it. If offered stock as well as a 401K, we should have the opportunity to learn more about these financial services.
  1. Higher Education Funding
    In passing, I’m sure you’ve heard of a peer who had his or her Master’s degree paid for by an employer. Such employers are not mythical, they are real—and our list of 20 companies who will pay for a graduate degree proves it.
  1. Transportation Reimbursement and Flexible Scheduling
    Have you ever been in a job interview situation where the job sounds great, but don’t want to spend money on a long commute? What if the employer offered to pay for your gas or for your public transportation? Your time is valuable too—and with flexible scheduling, the ability to come in to work at 10am (after traffic has cleared up) can also be a deciding factor, as you won’t have to spend an hour in the car in the morning, followed by two hours in the afternoon. Regarding public transportation, I know that I would be happy just to have peace of mind in the knowledge that I would not be penalized in any way if my train ran late.
  1. Child Care
    It’s not uncommon for companies to offer onsite care facilities for children of employee—and employer-sponsored child care (at least based on this list of top 10 employers that offer it) costs less than the average US cost of $972 per month.
  1. Product Allowance
    In writing about what it’s like to work at Facebook, I learned that Facebook offers $250 to each employee to use on his or her own Facebook ad usage. If you’re in a product-based situation, it is imperative that you have product knowledge that can only come as a result of using said product.
  1. Telecommuting
    Work from home? Why not? Well, if you’re anything like me and have an attention span comparable to a goldfish, working from home—where distractions live—may not be the best option for you. However, those exhibiting laser focus should have the option available to them. In other words, it shouldn’t be a requirement, but telecommuting is great for those who can handle it.
  1. Employer-Mandated Professional Development/Seminar or Conference Attendance
    If you’ve taken on a new role, you should be afforded the opportunity to hone your skills. Certain fields—such as real estate, insurance, personal training and cosmetology—require specific licensing before beginning work. If you work in an ever-changing field—such as social media—it is important that you stay ahead of the curve on the field’s evolution. Courses similar to this social media seminar are available both online and in person.

These employee benefits are also adjustable based on your salary and other benefits that are part of your incentive package. Before signing your name to the dotted line, determine if your future employer is willing to negotiate—for example, you’ll take a lower salary if offered child care at a certain price, or if you can telecommute and be home with children two out of five days, you won’t need child care. Find out what the rules are, but don’t be bashful about respectfully negotiating benefits.

 

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About Author

Mary Grace holds a Master of Arts in Public Communications and Media Studies from Fordham University, and a Bachelor of Arts in Communication Studies from Salve Regina University. She spends her time in the editorial department at the National Association of Professional Women by day, and is a community thespian and wannabe politician and activist by night. Her favorite things include trips to Walt Disney World, drinking too much coffee, browsing Sephora, her Apple Watch and her "nephew," Luis.

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