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% 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?