Salary and Benefits

Understand the Benefits

A great benefits package can make up for a lower salary. Nowadays, many companies are getting creative with benefits packages. But don’t lose sight of the important things like health insurance, retirement planning, and paid time off. Here’s a quick overview of the most common benefits:

• Paid Time Off (PTO)
  Your employer may provide time off through a variety of ways. Some offer PTO as one lump sum, while others separate vacation, personal, and sick leave. Either way, evaluate the total amount of time off that you will earn and accrue over time.
• Health and life insurance
  Employers generally provide various types of wellness insurance, including health, vision, and dental. They may also offer short- or long-term disability insurance and life insurance. After you are hired, you will have the opportunity to choose which insurance benefits you want. Your employer may pay for all or a portion of your insurance premium costs.
• Retirement investment plan
  Retirement may be a long way off for you, but it’s never too early to start planning. There are different types of plans (e.g., pension plans, 401k, 403b, and more). Each offers retirement saving opportunities. The key is to participate. And, if your company matches your contributions, even better (free money!)
• Other benefits
  • Employee stock ownership plan
  • Performance bonus or incentive program; sales commission
  • Flexible work hours (flex time)
  • Relocation reimbursement
  • Tuition reimbursement
  • Student loan reimbursement
  • Childcare subsidies or onsite childcare
  • Onsite fitness center or gym
  • Parking and transportation assistance
  • Employee discount programs
  • Onsite cafeteria or food services
  • Social activities and programs
  • Casual dress code