What are some non-salary benefits to negotiate in a product management role?

?? A rewarding product management role isn't just about salary. I'd emphasize the importance of flexible work arrangements, allowing for a balance between professional and personal life. Investing in professional development through courses or conferences keeps skills sharp and careers on an upward trajectory. Performance bonuses and incentives add financial motivation, while stock options offer a share in the company's success. Health and wellness benefits, like insurance and gym memberships, are vital for overall well-being. Lastly, generous vacation and leave policies provide much-needed breaks for rejuvenation. These benefits collectively define a fulfilling career. ????

One of the most sought-after benefits for product managers is the flexibility to work remotely, part-time, or with flexible hours. This can help you balance your personal and professional commitments, reduce stress, and increase productivity. You can negotiate for a flexible work arrangement that suits your preferences and needs, such as working from home a few days a week, having a compressed work week, or choosing your own start and end times. You can also ask for the necessary tools and support to work effectively from anywhere, such as a laptop, a phone, and a reliable internet connection.

Another benefit that can boost your career as a product manager is the opportunity to learn new skills, gain new knowledge, and expand your network. You can negotiate for professional development opportunities that can help you grow as a product manager, such as attending conferences, workshops, courses, or coaching sessions. You can also ask for a budget or a reimbursement policy for your learning expenses, as well as time off to pursue your education. Professional development opportunities can help you stay updated on the latest trends, best practices, and innovations in your field, as well as enhance your resume and portfolio.

A third benefit that can increase your income and motivation as a product manager is the performance bonus or incentive. This is a reward that you receive for achieving certain goals, milestones, or metrics related to your product or project. You can negotiate for a performance bonus or incentive that is aligned with your responsibilities, expectations, and contributions as a product manager, such as launching a new feature, increasing user engagement, or improving customer satisfaction. You can also ask for a clear and transparent criteria and process for measuring and paying out your bonus or incentive.

A fourth benefit that can give you a stake and a voice in your company as a product manager is the stock option or equity. This is a form of ownership that gives you the right to buy or sell shares of your company at a predetermined price and time. You can negotiate for stock options or equity that reflect your value and potential as a product manager, such as having a fair vesting period, a reasonable exercise price, and a favorable tax treatment. Stock options or equity can help you benefit from the growth and success of your company, as well as influence its direction and strategy.

A fifth benefit that can improve your health and well-being as a product manager is the health and wellness benefit. This is a benefit that covers or subsidizes your medical, dental, vision, or mental health expenses, as well as provides you with access to wellness programs, services, or resources. You can negotiate for health and wellness benefits that meet your needs and preferences as a product manager, such as having a comprehensive and affordable insurance plan, a flexible spending account, or a wellness allowance. Health and wellness benefits can help you prevent and treat illnesses, injuries, or stress, as well as enhance your quality of life.

A sixth benefit that can enrich your personal and professional life as a product manager is the vacation and leave benefit. This is a benefit that grants you time off from work for various reasons, such as traveling, relaxing, volunteering, or caring for yourself or others. You can negotiate for vacation and leave benefits that respect your rights and interests as a product manager, such as having a generous and flexible vacation policy, a paid or unpaid sabbatical, or a parental or family leave. Vacation and leave benefits can help you recharge your energy, pursue your passions, or fulfill your obligations, as well as improve your morale and loyalty.