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There was an interesting thread on Reddit a while ago about job perks — readers, what employee benefits and perks does your company offer, and how are you optimizing these perks? There are, after all, a TON of them out there — I was blown away compiling this list!! — and there’s a lot of money involved.
In the past, we’ve discussed how many vacation days we get, and tech budgets, and (eons ago) we had a guest post from my friend Sue on how she saves $10,000 a year by maxing out her work benefits, including her flex-spending account, commuter spending account, and dependent care spending account… but we haven’t talked about employee benefits and perks too much. So let’s discuss!
Here are the questions:
- Which of the following perks do you get automatically?
- Which perks were not automatic — you needed to be employed there for a certain amount of time, you had to get to a certain level within the company, you negotiated something different than your coworkers, etc.
- How do you find information about perks and benefits — word of mouth? Is there a portal, or just an HR department, or just lengthy paperwork you got on Day 1?
- Have you negotiated for any of these perks (either for a new job or as part of a promotion)? If you were choosing among multiple job offers (such as after finishing law school or grad school), how much did the employee benefits factor into your equation?
- What employee benefit or perk is your favorite? Will you try to negotiate for it if/when you leave your current company?
- What would your advice be to someone just starting who has the same perks you have?
Employee Benefits & Perks You Might Be Getting
Stuff You Probably Know About
- remote / hybrid policies and arrangements
- vacation days, “closed office” holidays, half-day Fridays, sick leave, and other PTO
- fully paid or discounted health insurance: You probably don’t even identify this as a benefit unless you’re comparing your employer’s plan to the marketplace. I was surprised by how many people in the Reddit post said their health insurance is 100% paid by their company, often for the employee and dependents, sometimes the employee’s entire family!)
- 401k contribution or match (or a pension): Some companies contribute 3% (for example) automatically, regardless of whether or not the employees contribute to their 401k; others will match up to a specific dollar amount.
- professional development funds / education reimbursement
- access to a Flexible Spending Account or a Health Savings Account
- signing bonuses, year-end bonuses, other bonuses
- company stock or equity: Sometimes “phantom stock benefits” — one Redditor described it as shares appointed that have no value unless the company goes public one day, but it seems like the phrase typically means a form of compensation that tracks the company’s actual stock, but without giving equity in the company, as described in this Smart Asset article.
- relocation package or reimbursement for moving expenses (One friend’s relocation package even included broker help with selling their home!)
- Employee Assistance Programs: You may not know that EAPs typically provide more than mental health services. Offerings may also include legal advice, assistance with financial issues, referrals to childcare and other family supports, and more.
Other Health-Related Perks
- free or discounted therapy sessions
- Health Advocate services
- executive physicals (such as those mentioned in this PartnerMD article)
- free/discounted gym memberships, free ClassPass memberships
- disability benefits
- life insurance policies
- “earned perks” such as $25 if you walk 10,000 steps or work out for 30 minutes for X days in a particular month
- pet health insurance
Note also that employers can often choose what the company plan will and will not cover, or create different tiers of employees. For example, one of my employers did not cover birth control pills (until the women rioted, ha) — and there’s been a lot in the news lately about whether insurance plans cover weight loss drugs)
Parental and Family Planning Job Perks
- maternity and paternity leave: Note that the FMLA only applies if your company employs 50+ people.
- on-site daycare or childcare stipend
- dependent care flexible savings accounts (such as those described by this Investopedia article)
- family planning reimbursement (e.g., freezing your eggs)
- bereavement leave (sometimes pet bereavement leave, also!)
{related: How to Negotiate Future Maternity Leave Before You’re Even Pregnant}
Benefits You Can Taste
- snacks, soda, juice, etc., in the breakroom
- discounted / free office cafeteria for lunch
- reimbursement for dinner when working late / on weekends
Moving Fast: Job Perks for Travel
- cars home when working late / on weekends
- travel perks, upgrading your airline and hotel statuses
- reimbursement (partial or full) for mass transit, parking, gas
Mo’ Money: Smaller Job Benefits
- tech reimbursement or “remote work stipends”
- discounted rates on mobile phone services, home internet, equipment such as iPhones
- discounted tickets (theater, theme parks, etc.) and museum memberships
- “cool office” perks: game rooms, private movie rooms, kombucha-on-tap, etc.
- company merch
Stock photo via Deposit Photos / zimmytws.
Kat
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