Picture this, you’re in a job search and you land an interview for a seemingly perfect position. You go to the interview with a salary in mind that would be EPIC if offered, and to your surprise, they offer $5k over that! Without hesitation you accept their offer, you put in your two weeks’ notice at your current role and before you know it, you’re on your way to sign employment paperwork and get whatever other ducks in a row that you need to before your first day. Except now you’re signing all your tax and insurance paperwork, etc. and you realize that though you were offered that incredible salary, the insurance package offered is through the roof and they only cover a small portion so all of that extra income you were getting in your salary is going right back into your benefits package and you ultimately see none of it in your paycheck. Trust me, we’ve all been there. Sometimes we are blinded by one tiny portion of accepting a job offer that we forget to consider the total package offered. What do I mean by “total package?” I am saying aside from salary, there are many other things you should be considering before signing that offer letter to ensure you are accepting a well-rounded offer that isn’t solely based on salary.

As stated above, a very important part of a job offer is the benefits package. A recent study found that in 2021, the average health insurance cost for employers was over $16,000 annually, or 73% premium, to cover a family, or over $6,000, or $83% of the premium for individual coverage. Unfortunately, these premiums are not exempt from rising costs as they have increased over 20% in the last five years and are expected to continue rising. So, before you sign that paperwork, make sure you are not making $5k extra just to dump back into your insurance coverage. If a larger take-home is what you’re looking for in a new role then the top two things to consider are salary and insurance cost. Of course, there are other benefits to consider besides insurance coverage such as PTO offered, retirement plans available, and what the company will match, and for some positions, phone, car, or even clothing allowances. We like to make sure our candidates are receiving a good offer in these factors as well!

Another part of the package to consider is, especially today, the flexibility offered by remote or hybrid work. It is apparent how important it is for some people to be fully remote or hybrid as they have adapted to a lifestyle within these limits that allows them their perfect work-life balance. If this is something that is extremely important to you, are you discussing it prior to accepting the position? If a remote or hybrid schedule is something that is not offered by your potential employer, how far are you having to commute daily? Our rule of thumb is that if you are offered a salary on the higher end of your desired range, then perhaps an extra 5-10 minutes added to your commute time is not the end of the world. However, if the offer is on the lower end of your desired salary range then maybe you would your employment to be closer to home, understandably so, especially with the price of gas.

Last, but certainly not least, are you considering company culture prior to accepting a new job offer? According to a survey of over 5,000 workers from the US, UK, Germany, and France, over 75% of respondents claimed that they would consider a company’s culture prior to seeking a job there, and over 50% of respondents found culture to be of higher importance than salary. I don’t care how much you love what you do, if you are not happy in the environment you are in, you will likely not stay there. Culture fit always wins in the battle over interest in the work being done. We are human and we want to enjoy the people we are around and the relationships we build at work just as much, if not more than the work we are performing.

If you find yourself in a job search and would like to ensure you are being offered an overall excellent package please give us a call at (518) 275-4816 as we are happy to help find your perfect fit!

 

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