What perks did you get when you were hired?

Q: Some companies are still interested in gaining a hiring edge over their competitors by offering perks to new hires. What kinds of perks did you receive when you hired on to your latest job?

Nick's reply: I don't think we're anywhere near another boom-time when companies will dole out extravagant come-ons to lure new hires. But with periodic up-ticks in company earnings reports, we may see more aggressive hiring and retention practices in some corners of the economy.

Perks that provide immediate value (like cash, cars and phones) are still relatively rare because employers must pay for them up front. Remember that stock options and education benefits -- while desirable and potentially valuable -- don't provide immediate, if any, value to the new hire. Since these benefits don't cost a company much today, it's easier to offer them.

Nonetheless, perks are wonderful both for new hires and for employers. To the employee, perks are proof of your value to a company and they add that special something to your life. Perks may even induce you to accept one job offer over another. To employers, perks cost less than salary because they're often one-time expenses that don't contribute to the ongoing cost of having the employee aboard.

I didn't write this Challenge to rub salt in anyone's compensation wounds. I'm asking about perks because I think more perks are coming, and readers should start considering what perks are really worth -- and how they are used by employers. The better you understand perks, the better you'll be at evaluating job offers that include them.

As a job candidate, remember that perks are sometimes offered to distract you from the negotiation of salary. (Headhunters like me, who negotiate compensation packages regularly, are more keenly aware of this than most job hunters.) Most perks you get just once. For example, a sign-on bonus does not factor into the company's contribution to your retirement plan or into your life insurance benefits (only your base salary does), and you won't see it again next year even if you get a raise.

On the other hand, a higher salary pays and pays, and it grows in compound fashion with raises. It boosts your life insurance benefits and your retirement plan. Consequently, when you negotiate your compensation package, you're usually better off fighting for a higher salary than fighting for stock options or a signing bonus. In the throes of winning the job, people often forget the distinction between salary and perks. Don't let that happen to you.

With some companies, including risky start-ups, you may be better off negotiating a good signing bonus for the simple reason that you may not be around to collect on stock options or performance bonuses (or education benefits) next year. Worse, the company may not be around to pay you what it promised. In other words, when the company is shaky, you're probably smarter to take any money you can up front.

A note to employers: If you're looking for a competitive edge when recruiting, consider that good, solid perks are still relatively rare. Offering good perks judiciously could give you an edge before your competitors -- and the economy -- catch up.

Copyright 2008. Distributed by Universal Press Syndicate

Nick Corcodilos is author of "Ask The Headhunter: Reinventing the Interview to Win the Job" and the host of www.asktheheadhunter.com. He can be reached by e-mail at seattle@asktheheadhunter.com or at North Bridge Group, P.O. Box 600, Lebanon, NJ 08833. Sorry, no personal replies.