|Career Development Professional Profiles Office Culture Job Hunting Advice Editor's Picks|
Home > Article
Q. My company recently decided to eliminate company cars as a perk for any employee. Since they have always maintained that the benefit was "part of my compensation," I want to ask for a comparable amount of salary increase as a replacement for the loss. I've done a substantial amount of research and cannot find any good rules of thumb for determining the value of a company car benefit. How likely am I to get them to simply cover the cost of my monthly car payment on the replacement vehicle? Any ideas on the value of such a benefit?
A. You may not be able to receive the monetary value of your car if the car was a benefit that was not required for you to perform the primary responsibilities of your job. In other words, if you're a sales representative and you need a car to meet and sell your company products then you may be in a much better position to demand for the value of the car.
However, there is no rule of thumb when it comes to the value of a car. It typically depends on what kind of car your company leases on your behalf. If the standard car for an employee is a mid-sized American car then the value of the car can range from $10K to $18K.
Nevertheless, if your company has decided to eliminate its company car as a company benefit, it could be that they can no longer afford to offer it to their employees. In that case, asking them to adjust your base salary to reflect the loss in your company car may not be worth your while. You may want to consider asking for other noncompensatory benefits such as extra vacation time, tuition reimbursement, or stock options.
Copyright 2000-2004 © Salary.com, Inc.
More Related Articles
How should I address several months of contract work on my resume?
When the job market is tight for employees, most employers understand how to interpret a few months of contract work on a candidate's resume.
Is Cyber-Coaching Catching On?
After graduation, formal career guidance becomes nonexistent and young professionals are often on their own to navigate the new world of work. An increasing number of people are seeking answers to their career-related questions from online career coaches. But while cyber-coaches can provide a multitude of advantages, they can't help with every aspect of the career search. Learn about the advantages and disadvantages of working with a coach online.
20 Worst Excuses for Calling in Sick
You've heard of the dog who ate homework, but what about the cat who unplugged the alarm clock? These days, people are getting very creative when they don't want to go to work.
Google Web Search
Didn't see what you were looking for?
powered by Google