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How do you compare jobs when one is giving you higher pay while the other will provide you better benefits?
Which is better a job with more benefits or a job with higher pay?
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Karin’s Answer
Hi Carlos,
Congratulations! The good part is, if you got multiple job offers, you are competitive in the job market. The bad part is, you have to decide, and most of the time jobs are just different, not necessarily better or worse.
Things you might consider:
Are both jobs the same, i.e. same level of qualification/responsibility, same general job description? If not, which one suits you better? Will you be able to advance in your job?
Look at the offered salary carefully: what does it look like after taxes? How does it compare if you consider housing and cost of living as well as the commute? A higher salary in the bay area often turns out not to be enough for you to buy a home. A lower salary in the mid west might be comfortable.
What about 401k and stock options as part of your package?
Are the benefits offered important to you? If you are male and not anywhere close to settling down, the maternity policy might not be important to you. But if you plan to start a family soon, that might be very important. If you are struggling with a chronic disease, a health care plan that has you covered would be more important than a bit more salary.
If you still want to pursue a higher degree, would a company offer tuition assistance and time off?
What are the values and policies of the 2 companies? Do they match yours in issues that are important to you?
Where are those 2 jobs located? Is one in a more desirable location for you? South vs North, beach vs mountains, closeness/distance to family and friends, 2-body problem?
What is the work environment like? Do they have a high turnover or do people work there for a long time? Why was the position available? A high salary does not compensate for a toxic work environment and a bully of a manager.
What is the financial situation of the company? Are they expanding or just barely scraping by?
Are the companies start-ups, mid-size companies or one of the big ones? Which work environment would suit you better?
Can you negotiate the lower job offer since you have the bargaining chip of a higher offer? If they can't offer a higher salary, can they give you something else?
I hope this helps! All the best to you!
KP
Congratulations! The good part is, if you got multiple job offers, you are competitive in the job market. The bad part is, you have to decide, and most of the time jobs are just different, not necessarily better or worse.
Things you might consider:
Are both jobs the same, i.e. same level of qualification/responsibility, same general job description? If not, which one suits you better? Will you be able to advance in your job?
Look at the offered salary carefully: what does it look like after taxes? How does it compare if you consider housing and cost of living as well as the commute? A higher salary in the bay area often turns out not to be enough for you to buy a home. A lower salary in the mid west might be comfortable.
What about 401k and stock options as part of your package?
Are the benefits offered important to you? If you are male and not anywhere close to settling down, the maternity policy might not be important to you. But if you plan to start a family soon, that might be very important. If you are struggling with a chronic disease, a health care plan that has you covered would be more important than a bit more salary.
If you still want to pursue a higher degree, would a company offer tuition assistance and time off?
What are the values and policies of the 2 companies? Do they match yours in issues that are important to you?
Where are those 2 jobs located? Is one in a more desirable location for you? South vs North, beach vs mountains, closeness/distance to family and friends, 2-body problem?
What is the work environment like? Do they have a high turnover or do people work there for a long time? Why was the position available? A high salary does not compensate for a toxic work environment and a bully of a manager.
What is the financial situation of the company? Are they expanding or just barely scraping by?
Are the companies start-ups, mid-size companies or one of the big ones? Which work environment would suit you better?
Can you negotiate the lower job offer since you have the bargaining chip of a higher offer? If they can't offer a higher salary, can they give you something else?
I hope this helps! All the best to you!
KP