Final answer:
Work package estimates should include contingencies to allow for a realistic project plan. Total compensation package may offset lower pay through benefits. Salary renegotiation may be possible after demonstrating value to the employer.
Step-by-step explanation:
Work package estimates should indeed include allowances for contingencies to account for unexpected events or issues that may arise during the course of a project. This ensures that the project can continue to move forward without significant delays or budget overruns. Contingency allowances allow for a more realistic and manageable project plan. When considering an employment offer, total compensation package can often make up for lower pay if it includes benefits such as health insurance, retirement plans, stock options, paid time off, or other perks. As for the possibility of renegotiation of salary, some employers may be open to this discussion 6-12 months from the start date, especially if the employee has demonstrated significant value to the company.