It’s Payday! …at least for some of us. Perhaps your check
looks a little weak and you’re seeking new employment
opportunities this year. However, when comparing job offers be careful not to just focus
on the salary in determining the financial benefits or disadvantages. The
following are factors to consider that may make your paycheck bigger or
smaller.
Distance. For
many this may be an obvious factor, especially in terms of fuel cost and
commute time. However, be careful not to dismiss an opportunity solely on the
basis of distance. Explore other factors such as the location’s access to
public transportation, employer’s transportation benefits, and opportunities to
carpool and telecommute which may significantly decrease the cost.
Benefits. Accepting an offer without knowing the cost
of the benefit plans, particularly health, especially if you have a family can
be detrimental. I've made that mistake when I accepted a position which appeared
to be a pay raise from my previous position. Unfortunately, that stack of cash
with the googly eyes I thought I was getting by switching to another company was negated
by the high insurance premiums. Also, find out if there are benefits that could
potentially lower the cost of things you already spend money on such as child
care or pet insurance, which could stretch your paycheck.
Perks. Did
anybody say “free lunch?” Did you know that Google
provides free breakfast and lunch for its employees? I know, old news for some,
but only to make the point that discounts are nothing to sneeze at. It’s
estimated that Google pays about $20/day per employee and as the old saying
goes, “A penny saved is a penny earned!” I once worked for a telecommunications
company and only had to pay $10 a month for my cellphone bill, which saved me
$80/month for comparable service at full price. That equates to $960 a year! Now
for those of you who are current students or thinking about returning to
school, you should definitely inquire about any tuition discounts or
reimbursements. This could save you thousands and help give you a competitive
edge that’s priceless.
These are factors to consider with your current employer as
well, which may prove to be helpful in determining if jumping on another
opportunity will be a leap forward or a dive off a fiscal cliff. Either way,
look before your leap; there might be a hidden paycheck.
Moving you forward,
Cathy Francois
Career Coach
Founder of Rezume Forward
Continue the discussion on Twitter @rezumeforward
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Cathy Francois
Career Coach
Founder of Rezume Forward
Comment on Facebook