Changing jobs can be scary, and when you decide to take that plunge and you begin comparing one job to another you will often look at salary first. After all, one of the top reasons we decide to move from one career to another is monetary. If we aren’t making what we feel we are worth, or if the salary we are making is not covering the bills, then it is time to find one that pays better, right?
When calculating a job’s salary and comparing the salary of one to another it’s important to include the perks and benefits that go along with each. For instance, suppose you stumble across two jobs. The first pays a salary of $55,000 yearly while the other pays a whopping ten thousand more. At first site, the higher salaried position may seem like the obvious choice, but when comparing the two, stop to compare what goes along with that job as well.
For instance, how do each jobs pay out in insurance? Does one cover the majority of your premium? How much are copays for each? Will both jobs cover dental as well?
Secondly, compare off time. As a teacher making this salary you may have several months a year and all major holidays off from work to spend with the family. In another field, you may be working forty hours per week year around. Therefore, the salary may even out or the lower paying job may actually work out to be better because of the time off you would have to spend with your children and spouse.
Finally, what other office perks are available? Do you get a company car with gas allocated? Does the job include gym memberships? What about yearly bonuses? If the lower salaried position includes these perks and the higher paying position does not, you might end up making more with the lower paying job after a great bonus and a free membership to a gym.