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Money is not always a priority when it comes to picking a job. For that reason, many choose to settle for a lower monetary package in favour of non-financial rewards. We give you a list of options you must consider apart from the salary when taking up a job offer.

Training and development opportunities
Get details about the company's approach to training its executives. For a young professional, it pays to join a company that is training intensive and offers learning opportunities. A compromise on the salary front may land you at a two weeks sales seminar at the company headquarters in America -- not a bad trade off. At the start of your career, what you learn is often more important than what you earn.

Increased responsibilities
Fine, you didn't get the 35 per cent hike you wanted, but maybe your span of control is increasing. It's worth it if you are getting to manage a bigger team or becoming responsible for a larger sales territory. For an ambitious employee, responsibility and recognition of talent is an enormous reward. If taken advantage of, it can mean a quick promotion or further compensation down the road.

"Going back from ITES to the hospitality industry meant a cut in my salary, but I was getting an opportunity to become a store manager at an early stage in my career," says Noida based Abhishek Singh, store manager at Barnie's coffee shop.

Strategic assignments
If you always wanted to work on a high impact project, it's worth it to compromise on the monetary front to earn a seat on that coveted task force. If you develop new business for the company as a result, the ultimate reward down the road could include a promotion and more money.

Employee stock options (ESOPs)
Most people believe the stock market is a risky proposition. However, they can be a great replacement for monetary benefits. If your company does well, you will benefit from the rewards. This is a great option, especially if you are joining a company in sunrise industries like retail, ITES, biotechnology, etc. Employees of companies like Infosys and Wipro are testament to this as they saw their wealth rise due to stock options. As long as the company's balance sheet does not take a hard hit, stock grants can be a win-win proposition for all.

5-day weeks and flexi time
We all want more time with our families and more leisure time to pursue other interests. So, company policy of 5-day weeks or a work from home system is a good trade off to consider. Make sure you reach out to your prospective employer and ask for more flexible time. "I wanted to get back to normal working hours and weekends off, so I decided to leave a big company and work for a smaller outfit," says Kamlika Chandla, ex-employee of Convergys, a leading BPO company.

Education Aid

The company may be willing to pay the tuition fee for that MBA you always wanted to pursue or send you on an all-expense paid management development or leadership program offered by several business schools. You may even be able to put your new degree to work for a promotion or bigger responsibility in the future.

Props and freebies
Maybe the company is offering you a brand new laptop or the latest mobile device you have been eyeing for some time. It could also be willing to provide you a company-owned vehicle and house. These are potentially heavy-duty expenses that make for a great replacement for an outright cash component.

Medical reimbursement

A practical option to consider if your parents and spouse are dependents. Hospital and medical bills can burn a hole in your pocket so, if a drop in the total salary package buys you free medical cover for self and family, it's an option worth its weight.

If you are thinking of getting the salary you want along with all these benefits, you certainly are optimistic. Then again, there is no reason in demanding some of these benefits, especially when a hike during salary negotiations seems unlikely.