Each week, we are sharing a financial wellness tip to help you make the connection between financial management decisions, your overall wellness, and student success. Money touches every aspect of our lives, and a lack of financial literacy can cause unnecessary stress and negatively impact our mental and physical health.
Financial Considerations when Comparing Job Offers
In preparation for the University-Wide Career Fair
this week, it’s important to remember salary isn’t the only thing to consider when comparing job offers. Yes, you read that right!
When comparing job offers, it's important to look at the total compensation package – both direct pay (base salary) and indirect pay (benefits and perks). All employees are typically offered some benefits (they may differ by job category), but perks may vary.
Here are some things to consider in addition to salary:
- Vacation time
- Annual merit increases
- Bonuses
- Cost of health care coverage
- Retirement savings programs
- Paid leave
- Insurance
- Educational benefits.
Over time, these benefits and perks can add up and may outweigh the actual salary offer. Next time you get a job offer, be sure to do your research, ask questions, and weigh all of your options before committing to a job. Learn more about the arious sources of indirect compensation >
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