After University

When negotiating your and with your , often the main focus of conversation becomes the salary. There are other areas that also need to be addressed and the following section discusses some of these that require careful consideration.

The salary your employer decides to pay will depend upon a number of contributing factors.

• The position applied for - This will probably have the most fundamental effect on the salary that you will get at the end of each working month. In salaries will differ depending on the jobs that people do. You may also find that people doing the same as you may be paid at a higher or even lower rate of pay, this is predominately due to the amount of time they have worked for the and their time in that position.
• Level of experience - If you have a significant amount of experience in a job, the fact that you are a newcomer will not have a bearing on your salary. It is likely that you will receive the for that position, dependant on the amount of experience that you possess.
• Levels of skill - Usually the levels of skill and experience go hand in hand, although it should be noted that this is not always the case. You can come across who are relatively new to a position, with little experience however they are highly skilled at what they do. If your skills are in high demand, then it's likely you will be sought after and the salary that you ask of your employer will be met.

For your first job your should not expect to be paid a high salary. It is far better to gain experience and training in your first years in the workforce. As your start to climb the career ladder you will find that your salary climbs with you. The position you work in and your general performance are usually reflected in the salary and benefits packages offered.

The benefits that you receive will be dependent upon the job you do and the position you are in within the company or .

If you in a permanent job, you are entitled by law to 4 weeks paid , and . In some companies you may find that the amount of sickness cover you are entitled to take is restricted, the can clarify what it will be for your firm. The amount of sickness cover will vary from company to company and in your first year you will be entitled to one-twelfth of your annual entitlement for each completed month of service. Some companies may provide you with a company pension too, although you will discover that not all companies offer this service.

A is usually integrated into your salary package. The Pension is a fund set up by your employer into which money is paid on a regular basis. You are not entitled to any money from the fund until you reach retirement age (normally 65).

On retirement the money in the fund can be distributed in monthly instalments or as a mix of a 25% lump sum and regular payments. An employer can provide a pension in one of several ways a personal pension that the employer and employee contributes to, a company pension that the employer and contributes to or a non- contributory pension. Of all the types mentioned, a non- contributory pension is of most benefit for the employee as no personal contribution is required.

Whatever position you choose to take, ensure that a pension is discussed and if a pension is not part of your package you should arrange one for yourself.

The that you receive can be dependent on the position you are taking and the methods that you use to travel to work.

If you are travelling by then it is likely that your employer may help you with the costs of travelling into London by paying for your , and then deducting it from your . Many employees will opt for this benefit as the cost of travel is expensive and usually escalates year on year.

If you have to travel by car as part of your job role, most will either pay for petrol as part of your expenses or they may hire a car for your use.

One of the most common benefits available. You are usually given a for a fixed period of time, and at the end of this period you can exchange it for a newer model. Some companies may simply pay you an allowance that you can use to hire or buy your own car. Companies will also pay for any petrol or maintenance cost associated with the car when use for business purposes.

Some large companies operate schemes where a mini bus will run from a local pick-up point such as a to the offices during the day. This is becoming a common practice as more and more companies choose to locate to areas just outside of town.

These entitlements are mandatory. Everyone is entitled to and . The amount of sickness cover will vary from company to company and in your first year you will be entitled to one-twelfth of your annual entitlement for each completed month of service.

Any annual leave entitlement you receive will be independent of any Public or . Some companies allow 20 days annual leave, however nowadays 25-30 is also a possibility. If you work for a US company you may not have to work on US holidays.

It is worth remembering if you receive any or all of the benefits mentioned you are a lucky individual. Apart from sickness and annual leave, your employer is under no obligation to you. Additional benefits not mentioned here could include , reward schemes, health club membership, and bonuses. When negotiating your final salary it is worthwhile taking some time to find out what other companies offer for similar positions so that you can accept a and package that is right for you.