A rejoinder to this topic here .....
https://www.nairaland.com/7621296/common-mistakes-when-accepting-offer

Most motivational speakers tell you one side of the story... The other side they don't tell you is this...
Common Mistakes When Accepting Offer Letters.

When considering taking an Offer, don’t always keep your focus on the Salary (direct compensation), this may be misguided when you don’t look at the other indirect compensations and benefits.

Indirect Compensation are non-monetary as they don’t come in the form of direct cash sometimes but they can make a huge difference to your budget

What other Indirect Compensations can you consider?

1. Bonus: Are there performance or sales target that you can leverage on the percentage to be paid? A monthly Sale or Quarterly bonus will boost your overall pay which may not be quantified with your annual remuneration.

1- The truth is MOST companies already have thier pay packages, you either accept the offer or leave it, there is NO space for negotiation

2. Sign-off Bonus: Usually paid out as one-off upon accepting an offer. When contextually added, you get a higher salary pay as they are indirectly linked to your offer.

2- Very few companies pay sign on bonuses in Nigeria, you will have to be extra ordinary to find yourself here ..

3. Loan Availment: Do they grant loan without a fee and zero or low interest rate? I remember when one of my sisters got a job with a lower pay but the organization grants loan to its employees at single digit rate with opportunity to pay back on a longer time period.This wasn’t available at her previous place except at a higher job grade.


3 Aside Financial institutions, MOST organizations do not give loan to staffs, you will have to get it from the unions in the organizations if they have any...

4. Learning & Development:Don’t eat your future without developing yourself. If this is included as a perk and there is a budget attached to it, consider it as a catalyst for your career growth. Companies volunteer to pay certain professional exams on your behalf. It may also be in the form of tuition reimbursement.

4- The truth is MOST. Organizations demand 40hrs a week from staffs, Standard SLA... You will have little or no time in the week for anything career/educational advancement except the one the organizations already has in place for thier staffs... Or else, Other staffs will demand they want to go for thier masters if it's granted to anyone... Soon the company will be paying 90% of it's staffs running one program or the other with 0 turn over or returns... The most painful part is this staffs either resign or abscond as soon as they have gotten the qualifications...

5). Vacation pay: Do they grant leave? Do they pay leave allowance? Some companies lump this with your pay while others make it as an aside thus additional money not quantified with monthly pay.[/font]

5- Very few organization offer stuffs like vacation pay, the best they offer is, pay on leaves such as annual leave, maternity leave sick leave etc... Organizations that offer you couples of mills to go flex in the Bahamas are just to insignificant in number...

[font=Lucida Sans Unicode]6. Health Care Benefits: Can you register with a HMO immediately upon resumption or is it after confirmation? Can the company cater for the rest of your family or is it only Self?

6- Most good organizations offer HMO, but it all depends on the packages they subscribed for from the HMOs... Coming to negotiate has a slim chance to scale unless you want to foot the difference from your pocket...

7. Life & Other Insurance: Health Insurance (HMO) isn’t only the insurance you are entitled to. Does the company offer life, disability or accident insurance during the course of work?[/font]

7- Most companies in this categories hardly even pay hazard allowance, and when they do, it an insignificant amount and it's often across board, You coming to negotiate may not scale...

8. Stock or Trust-stock: Before you can access this, some companies require you work for more than 3-6 years. Others would quantify this and pay you cash as dividend while others would allow you buy stock at lower stock price.[font=Lucida Sans Unicode]

8- Most companies do not offer stock or trust-stock, what they offer is your salary and any other allowance which often times isn't negotiable...

9. Profit Sharing (P.S): This is another perk not attached to your monthly pay but trust me sometimes when you get this, it may make up for your lower gross salary. Let’s say your PS is N500,000. Divide this by 12 months and you get extra N33,333 if annualised.

9- Take this to the bank... MOST companies do not share thier net profit to staffs This goes the the owners of the Biz and when they do, it's an insignificant amount of the profit, negotiating profit sharing with owners of the Biz is like wanting a Carmel to pass through the eye of a.... U no the rest...

10: Pension or Retirement Funds: If you get a company paying this or even paying more than the statutory 10% on your behalf. This is a great talent retention strategy for some.

10- Most Organizations pay pensions which is across board... Negotiating this is almost not possible..

This negotiations are often not applicable in Nigeria, you can try them abroad... If you over shoot your luck, the result will mostly be... WE WILL GET BACK TO YOU... And you know what that means...

I am doing a rejoinder because what the writer wrote is obtainable in less than 5% of the organizations in Nigeria .. Nairaland is a general platform... Don't post what is obtainable to 1 or 2 % of the population here, kindly post what 70-80% of the population can get...