I am in a small business and I am currently negotiating a contract. What benefits should I ask for?
jjdubya asked:
My boss is claiming that he can’t afford to pay me what he knows I deserve right now (but will be able to in less than a year) and wants me to hold off and wait. I told him that if I am not going to be compensated financially then at least I should have good benefits.
My boss is claiming that he can’t afford to pay me what he knows I deserve right now (but will be able to in less than a year) and wants me to hold off and wait. I told him that if I am not going to be compensated financially then at least I should have good benefits.
Besides for insurances and 401ks (which are out due to small company) what should I demand?
How many sick days?
How many vacation days?
How many legal holidays?
What other perks can I request to compensate for my hard work?
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Tags: Insurances, Legal Holidays, Vacation Days
February 3rd, 2009 at 7:05 pm
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Become contract labor, a sole-propritor of service you have to offer. Consider time and materials you will need to put into the job at hand. You work when you can and get it done and get paid for your work. There are tax advantages. This might be a way for you to bridge the gap and as a contractor you can work on your own schedule and not 9 to 5 just so you get the work done to get paid.
February 4th, 2009 at 2:04 pm
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Do you know how much the business makes?
If you know the business’ financials, and potential, you could ask for a bonus based on profits. So like 5% of profits, in exchange for a lower pay. Or you could ask for stock in the company, or a share since it’s a small business.
Basically if you’re underpaid, you can find value elsewhere, by grabbing a chunk of the business. This works in your advantage, as you’ll be able to sell out later for more money than you put in, but also works in the boss’ favour, not only does he spread the risk, but also gets you working all the harder to make it a success.
It’s sort of underhanded or a bit ruthless, but it may get you a good payout.
Basically instead of getting a raise, your boss gives you the equivalent that you’d make in the year as a percent of the business. So if your added salary would be 1% of the business, you go for that. So you forego that raise in exchange for being a shareholder basically. Then sell out when the business grows.