What To Consider When Accepting a Job Offer

What To Consider When Accepting a Job Offer

Congratulations, you got the job! After dozens, maybe hundreds, of applications, weeks of interviews, and countless sleepless nights, you can finally exhale. Alert the group text, because it’s time to celebrate!

When most employees review their offer, they immediately focus on salary. While this is a key component, it is only one aspect of the overall compensation. Your compensation also includes your benefits package and unique perks that the company offers. These benefits will most likely have a direct impact on your day-to-day finances. 

While there's a multitude of items you should think of when considering a job – from personal growth opportunities and progression to culture and fit, we're diving into they key components you should review financially. Keep reading for a breakdown of the 5️⃣ most common benefits, the dollar amount they could add to your overall compensation, and how they factor into decoding your job offer to its full extent.

1. Healthcare

For many people, their healthcare package can present huge savings. Most health coverage includes vision, dental, and routine/preventative medical care. In addition to these benefits, some companies now offer wellness coverage such as acupuncture, massage treatments, nutrition counseling, and more.  According to the Kaiser Family Foundation, the average monthly health insurance cost for an employee with single coverage is $95. Typically this coverage will include your regular routine medical checkup, two dental cleanings and an optometrist appointment. Depending on your service provider, those three health services combined could cost you $850 or more. If you need contact lenses, new glasses or additional medical appointments, that total could easily balloon beyond $2,000 for the year. After your monthly health insurance payments, your company could be saving you over $1,000 every year.

2. Financial wellbeing

If you don’t feel financially secure, it can lead to a large amount of stress that can factor into all aspects of your life.  As a result, many companies are now offering financial wellbeing benefits to their employees. Financial wellbeing benefits range from financial coaching and debt management to overall money management support. With these benefits, your company could be saving you between $1,200 and $6,000 per year. Not to mention, the financial skills you can learn through this benefit could help you build security for your future. 💸

3. Vacation time and work from home privileges

Although going on vacation probably does not help your savings account, work-life balance is mentally and physically important. When reviewing your job offer, check to see if the company offers unlimited vacation 🌴 or floating holidays. 

If you are someone that needs variety in your work environment, check to see how flexible the company, or your department, is with you working from home. This is a huge benefit especially if you have a long commute. According to the US Census Bureau, the average commute is 26 minutes resulting in an average annual transportation cost of $2,600. Depending on your commute, your company’s work from home policy could add savings to your bank account.

4. Stock options and retirement benefits

Whether your company is public or private, stock options have the potential of yielding huge rewards and can be a big boost to your overall compensation package. The value of your stock options is based on dozens of variables and understanding the monetary benefit will take considerable research on your part. To start, you’ll want to know your vesting schedule and the strike price. Not only is it important to factor in the amount of stock options you are receiving, but you should also take into consideration if and when you may be rewarded with more stock options – whether that is based on performance, promotion, or time with the company.Similar to stock options, your retirement benefits can help you build long-term wealth and financial freedom.

The most common retirement offering is a 401(k) account, which essentially acts as a company-sponsored retirement plan. You contribute a percentage (usually up to 6%) of your annual income, and companies may match your contributions –  essentially giving you free money. The amount a company matches can vary, but can be up to dollar-for-dollar. For example, if you have a $100,000 base salary and contribute 6% to your 401K, you will have $6,000 in your plan after your first year. If your company does a dollar-for-dollar match, that balance would go up to $12,000. 💸

5. Free lunch and meals

In the United States, the average person spends $13.00, Monday- Friday, on lunch and coffee. Over the course of a year, this adds up to over $3,000. If your company provides meals on site and unlimited coffee and tea, consider yourself $3,000 richer. And take advantage of this as much as possible. 😉

While the base salary will grab your attention the fastest, all of these components should factor into your acceptance decision. Spend some quality time comparing your expenses with the benefits offered, and make sure to include all of your financial factors. Consider the savings that these benefits present and how the extra money in your pocket will help you build financial independence and a solid grounding for your future.


1) Salary is important, but it's not the end-all when looking over a job offer. Key benefits that may add up, such as healthcare and time-off policies, should be extensively reviewed and understood before signing your name on the dotted line.

2) Though retirement can seem a long ways away – as you're literally reviewing a job offer – it's important to plan ahead for your financial future. Are stock options included? Is 401K matching possible? Understanding your salary breakdown and how it directly relates to your savings is key.

3) Take. Advantage. Of. Free. Food... 🙃

This material has been distributed for informational and educational purposes only, is subject to change without notice, and is not intended as financial planning, investment, legal, accounting, or tax advice or opinion.  Petal assumes no obligation to provide notifications of changes in any factors that could affect the information provided.  The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to follow any specific investment strategy.  There is no guarantee that any strategies discussed will be effective.

Furthermore, the information presented does not take into consideration tax implications, or other costs, which may significantly affect the economic consequences of a given strategy or financial decision. 

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