Evaluate the Compensation Package
Consider the net value of all monetary benefits and expenses. Fringe benefits, such as health insurance, retirement contributions, and tuition reimbursement programs, can amount to 25鈥�40% of the salary. Job-related expenses, such as safe and convenient housing and transportation, can significantly decrease your net income.
To evaluate a salary package, consider:
- starting salary, including benefits package.
- comparative salary and cost-of-living information.
- vacation and other leave-with-pay time.
- salary review schedule.
- signing bonus, if offered.
- relocation stipend.
- spousal/partner assistance in locating a new position.
- stock options, if applicable.
Other factors to consider:
- employer reputation and stability
- job security
- facilities and working conditions
- any 鈥渃atches,鈥� such as a restrictive non-competition clause