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Employee Compensation Package
When you get the job offer letter, you need to evaluate the whole employee
compensation package, not just the base salary. Depending on the benefits
included, a job offer with annual salary of $80,000 might not be better than a
job offer with annual salary of $60,000. Here are some compensation features you
might want to take into consideration:
1. Compensation:
- Base salary
- Commissions
- Bonuses
- Stock options
2. Insurance:
- Medical insurance
- Dental insurance
- Vision/Eye care insurance
- Life insurance
- Disability insurance.
- Accidental death insurance, especially for dangerous jobs.
- Business travel insurance, especially for those who travel a lot for the
job.
3. Time benefits:
- Vocation days
- Paid Holidays
- Sick days
- Flex time
4. Retirement/Pension plans:
- 401k plan. This is the most popular pension plan, offering you both a saving
plan and a tax break. Employers usually match (or up to some level) employee
contributions.
- Other retirement plans include profit sharing plans, pension, stock bonus
pension plans, etc.
5. Other benefits:
- Relocation fee and sign-in bonus
- Parking/commuting expense reimbursement
- Tuition reimbursement
- Dependant care and child care
- Employee assistance/counseling program
- Overtime/travel compensation
- Health club/fitness classes
For more information on the compensation package, consider the following
reference sites:
Employee Compensation Package
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