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Top 7 Non-Monetary Reasons To Accept A Job Offer
By Sunder Ramachandran
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You may think that financial reward is the most important factor to consider while accepting a job offer however for many professionals; money is not always a first priority.
Many choose to settle for a lower monetary package in favor of non-financial rewards. We give you a list of options that you must consider apart from the salary when considering a job offer.
- Increased responsibilities & Strategic assignments:
Fine, you did not get the 35% hike that you demanded but maybe your span of control is increasing. It's worth it if you are getting to manage a bigger team or becoming responsible for a larger sales territory.
For an ambitious employee responsibility and recognition of their talent is an enormous reward. If taken advantage of, it can mean a quick promotion or further compensation down the road.
If you always wanted to work on a high impact project, well it's worth it to compromise on the monetary front to earn a seat on that coveted task force. If you develop new business for the company as a result, the ultimate reward down the road could include a promotion and more money.
- Employee stock options (ESOPs:
The stock market most believe is a risky proposition however they can be a great replacement for monetary benefits. If your company does well, you will benefit from the rewards. This is a great option especially if you are joining a company that's on the rise.
- 5 day week and flexi time:
We all want more time to spend with our family and more leisure time to pursue our other interests. So it could be the company policy of 5 day weeks or work from home system, it’s a good trade off to consider instead of money. So do make sure that you reach out to your prospective employer and ask for more of flexible time.
- Education Aid:
The company may be willing to pay the tuition fee for that MBA degree that you always wanted to pursue or send you on an all expense paid Management development or leadership program offered by several business schools.
You may even be able to put your new degree to work for a promotion or a bigger responsibility in the future.
- Props & freebies:
Maybe the company is offering you a brand new laptop or the latest mobile device that you have been eyeing for some time. The company could also be willing to provide you a company owned vehicle and house.
These are potentially heavy duty expenses and make for a great replacement for an outright cash component in the salary.
- Medical re-imbursement
A practical option to consider if your parents and spouse are dependent. Hospital and medical bills can burn a hole in your pocket so if a drop in the total salary package buys you free medical cover for self and family, it's an option worth its weight.________________________________________
- Training & development opportunitie:
Get some details about the company's approach to training its executives. For a young professional, it pays to join a company that is training intensive and offers learning opportunities to its employees.
A compromise on the salary front may land you for a two weeks sales seminar at the company headquarters in the United States. It's not a bad trade off after all. At the start of your career – What you learn is often more important than what you earn.
Sunder Ramachandran is a Managing Partner at W.C.H (We Create Headstarts) Solutions - [http://www.wchsolutions.com], a Training solutions organisation. He can be reached at email@example.com
Article Submitted On: October 27, 2006