Negotiating beyond the salary
When it comes to professional negotiations, the emphasis is usually on making a case for an increased salary or better title — and justifiably so. It is important to ensure that your salary is in line with your market value, as it has the potential to follow you for years in your career.
However, in addition to compensation, there are often other overlooked areas worth advocating for. I’m not necessarily talking about maximizing benefits like free coffee, complimentary dry-cleaning, or even extra vacation days. Although these perks can be attractive, they don’t make a material difference to your career trajectory. I recommend thinking about factors that can empower you to achieve greater impact and professional advancement.
Here are three areas worth advocating for that can make a significant difference for your career growth:
Performance parameters
What: Performance review timelines, bonus structures, etc.
Why: At established companies, compensation increases and promotions usually take place during the annual performance review. One way to accelerate your growth is to increase the frequency of these checkpoints when possible. If presented with compelling results, your manager may be willing to reassess your role, responsibilities, and compensation outside of the formal review process.
Who: Mid-level to senior employees
Win-Win Script: “Thank you for considering my request. As you mentioned if I am able to increase sales of product X, would it be possible to reassess my role during a midyear review?”
Strategic access
What: Access to strategic projects or teams, leadership meetings, conferences, etc.
Why: Securing an invitation to work with strategic people and efforts is an effective way to be in the room “where decisions are made” and increase your visibility, connect with influential sponsors, and contribute to impactful projects.
Who: Junior or mid-level employees
Win-Win Script: “As you know this project I’m leading is of great importance to our team. Would it be possible for me to join the weekly leadership task force meeting so I can promote our work and identify potential areas of collaboration with other key stakeholders within the organization?”
Career development
What: Tuition assistance, career development resources, professional coaching, mentoring, etc.
Why: It’s always a smart decision to invest in your education - and it’s an even smarter decision if you can convince another party to pay for it, especially if there are high-quality training options available to help you develop the skills required to succeed at your current or future job.
Who: Junior, mid-level, and senior employees
Win-Win Script: “I would love your feedback on a leadership course offered by Stanford Continuing Studies. This course teaches many of the skills that we have agreed would be beneficial for my career growth. I was wondering if there is budget for me to enroll? After taking the class, I can share key learnings with my peers across the org to help with their leadership development and performance as well. I’m happy to provide more details and I welcome your thoughts on this.”
Although I believe it’s always worth the time and effort to evaluate if a professional opportunity is in line with your market value, there are other significant areas not directly related to compensation worth advocating for. Fancy corporate perks and other miscellaneous one-off gains may ultimately yield very little value for your career growth. Keep your eye on the prize by advocating for opportunities and resources which can effectively position you for meaningful impact and influence.