Salary and Benefit Resources
Benefits
- Insurance: Health, Life, Disability and more
- Time Off: Vacation, Holidays, Sick or Personal Days
- Financial Investments: Pension Plans, 401(k), Profit Sharing, Stock Options
- Salary-related Options: Overtime, Bonuses, Commissions
- Reimbursement Programs: Parking, Commuting, Relocation, Tuition
- Work-Life Balance: Flextime, Maternity/Paternity Leave, Telecommuting
- Other: Professional Development, Gym Membership, Employee Discounts, etc.
- Create a spreadsheet with all jobs listing all benefits
- Don’t let higher salary trick you; add the whole package together
- Wait until you have an offer to ask about benefits; avoid asking at an interview!
- College hires may not be able to negotiate benefits, but consider later in your career Find out what is typical in your industry for your level of experience
- Ask Human Resources for an annual benefits statement; this should show dollar value for all benefits
- Consider setting up a one-on-one meeting with Human Resources to review benefits
- Make sure you get an offer letter in writing that details salary and benefits before you say YES
- Is there an overall monthly cost?
- Do the benefits just cover you, or also family members?
- When do the different benefits come into effect?
- Are the benefits taxable?
- How often/when can you change your choices on different benefits?
Salary
Whether you are negotiating salary or other benefits, make sure to show your value, do your research, and ask appropriately!
Try to answer these questions before you start to see what you bring to the table:
- What qualifications (skills and experience) do you bring to the position?
- What does the position typically pay for that geographic location and experience level?
- What salary will help you meet your budget and lifestyle (housing, food, utilities, loans, etc.)?
- How will you be able to provide for your future (savings, retirement, investments, etc.)?
Come into the discussion prepared and knowledgeable.
Below are some websites to research salary by career field and location:
- Paycheck City: Learn how much of your salary you will actually be bringing home
- BestPlaces: Cost of living can vary greatly by location. Find out what your salary needs to be
- Intuit Mint: Find out how your expenses and debt will match up with your income.