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.
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.