On your way to earning that six-figure salary, or while you are raking in 6 figures already – you have got to ensure that you understand all your company’s benefits. Your company offers them for a reason. Indeed, to keep you happy and because you deserve these benefits, so use them and make sure that you…indeed…benefit!
You think you aware aware of and understand all your company’s benefits?
Haha – good one! Check your benefits! No really! You have no clue!
Sure. You know your salary, your bonus, you understand the pension plan (you think), AND you reimburse your public transportation or miles / kilometers by car. Well. Good job. Do you want a medal? Truth is. Often there are a lot more benefits than you realize.
It took me 3 years to realize that my company has a deal with local car dealerships. Brands like BMW, Audi and Volvo are giving up to 30 percent discount. The less sexy brands like Skoda, VW, and Seat up to 8 percent. This, always on new cars, but it does not matter if you buy or finance / private lease it. And despite what you might think, this is not just for the sales people or account managers that go out to visit clients. No, these ladies and gentlemen often drive company cars. This is really something different. Fleet discount is a direct discount on a car that you will privately buy! What a benefit!
“Who pays this?” I can hear you think. Well, actually the car brands give this discount and pay it out of pocket. So, it is a benefit, but not even paid directly by your company. These brands have a relationship with your company and this is how they draw new customers that become brand loyal. “Get those people in young and you keep them perhaps for the rest of their lives” is the strategy here. A very good strategy. But more important, for you it is a good benefit. Always ask for the fleet discount when you go car shopping!
Also, what about stock options? Check if you can buy company stocks monthly or quarterly. Perhaps with a discount even. It is possible that you can automatically set aside a certain percentage of your monthly salary, for which stocks will be purchased. This, hopefully, for the lowest price during that month – with an additional discount on top. Your company gets you to buy in and get more engaged with the company. And you? You get stocks against a discount. A clear win – win. Also, because you cannot immediately spend the money, it is a smart way of saving. On your bank account your interests are close to 0% if not negative, so why not? Do it! Check this company benefit and let me know how much your discount is!
Gym equipment or a massage
Haha, no no – not the Thai massage with the happy ending. Regular massages however, are often included in the benefits as they contribute to your health and overall well-being. Did you know this? Ok, you might have heard about that gym membership reimbursement. You can perhaps reimburse your gym subscription up to 700 USD a year. Also, especially due to COVID-19, check if you can get gym equipment for at home reimbursed. Yup, a health benefit. Do not miss out on that 600 USD reimbursement on gym equipment for in your living room. Big companies, especially those in the Biotech or Pharmaceutical industry will certainly offer this! Don’t be a thieve of your own wallet and make the mistake to leave it laying around.
Are you aware of any other benefits? Share them below! Keep going, up you go! Good luck!
Good luck, keep moving up!
Let me know what you think in below comment section!!
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