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 25–40 percent 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 “catches,” such as a restrictive non-competition clause?