When accepting a new job, salary negotiation is so important. You may have to consider many additional costs that may not be readily apparent to you, which the new job may demand and which are not there in your present job. The costs may or may not be quantifiable but it is important to be aware of them when thinking of salary negotiation. This article explains these issues in more detail. The salary that you want to earn in the new job should not be a fixed figure but rather be in a range. This is because during salary negotiation of the new job the total cost involved may not be clear in the beginning. The expected figure should be disclosed to the prospective employer after fully understanding all the implications of the new job and may require to be calculated. One of the undisclosed expenses may be health insurance. The insurance policy of the new employer may require you to pay a higher amount from your pocket for each pay period whether it is weekly or bi weekly or monthly. Even if it is a small amount per pay period, an annual calculation may make it substantial.
Paid overtime hours is an important issue you have to consider. If your present job pays for your overtime hours and the new job requires you to be on call 24 hours, then you may be actually getting less if you divide the extra hours put in from your annual salary. Even if it is a few hour a week, it will become considerable amount when calculated for an entire year. There are many other issues, which are sometimes called perks to consider like reimbursement of tuition expenses, flexible working hours, 401(k) contribution, on-site daycare and health clubs, company paid training, mobile phone and/or laptop computer provided by the company, paid professional membership to associations and institutes, vacation and personal holidays, car parking expenses, tax deductible expenses, and the possibility of working from home. Many of these factors are intangible benefits – one might not be able calculate them in dollar terms but depending on your situation they may be very important to you like for example the option of working from home for a mother having small kids to look after at home.