If you have been offered promotion, this will often result in a package being offered. It is important that you know your own worth and negotiate a contract which is as beneficial as possible. Obviously you need to know what is realistic for both yourself and your employer.
Here are the various aspects of a contract offer that you need to consider:
Be aware of your salary bracket and its upper limit. Don’t demand over the limit or the whole process could break down.
Child Care (if applicable)
Determine whether the arrangement is suitable and you’re happy with the quality.
You need to calculate whether the offer represents real value. It also depends on your belief in the potential of the company. Do your research and decide what you believe the shares to be truly worth.
This is often an essential aspect of an improved contract. Do some research into what is standard in your sector and decide on the requirements for your own individual circumstances.
Bonuses and Incentives
Make sure the targets are realistic and calculate what you believe you can earn if you perform well throughout the year. Consider that information when you’re weighing up the basic salary. This is often an area where you have strong negotiating power because if the targets are met, it’s good for both parties.
Company Facilities and Perks
For larger companies this can be a very attractive aspect. If you can see yourself getting good usage out of the facilities, that’s a big positive.