Career Salaries vs the Full Compensation Package

Don't let career salaries alone guide your career search. There is a lot more to consider than money, and it's important to have a full understanding of the whole package before you accept - or decline a job offer.

It’s not all about the money.

Money is always the first thing people think of when considering compensation for a new job. Although it is very important to be paid adequately for the job we do, the actual monetary amount is not the only thing to consider. A job compensation structure may include other offerings that make up for actual dollars and cents.

When negotiating, if you are too focused on the salary amount, you miss out on other things that, in the long run, would make your work experience that much better. So try to consider all the other things that an employer may be able to offer you, and create the ideal overall package that works for you.

Here are some ideas of how to make your compensation package more attractive overall.

Base salary: This is the amount of money you will be paid for completing the work laid out in the job description.

Bonuses/performance incentives: Investigate whether the employer offers any performance based incentives. Sometimes this is directly related to your sales performance, but bonuses can be offered in non-sales positions too. it can be based on anything that is value to the employer.

Retirement pension: Usually, your employer contributes a percentage of every dollar you contribute. This can add up to high value. Now, more than ever before, in this unstable economy, having a secure nest egg is very important. A company pension is regarded as highly valuable in today's job market, as so many companies have been forced to do away with them due to tough economic times.

Vacations: Depending on your lifestyle and family structure, paid time off may be of value to you. This also, is a declining trend due to the economy. If you are able to negotiate a third vacation week in your first year employment, ask yourself what that might be worth to you.

Health benefits: Huge bonus for many families. Study the company’s medical and dental benefits package closely. Benefit packages can vary significantly, often favoring larger families. Be sure that the company offers a medical package that actually benefits you and doesn’t end up costing you a monthly deduction equivalent to the family of six.

Expenses: An employer may have an account set up to pay for such sundry expenses as cellular telephone, or vehicle expense.

Perks: Are you being provided with a company vehicle and gas account? Is your employer offering to cover your annual family membership to a popular fitness and aquatic center? Do you have full access to company owned facilities or services?

Your employer may suggest some of these compensation details, or you may bring them up. Think of what your ideal scenario would be to make you happy at this job, and don't be afraid to ask for it if it reasonable and justifiable. Just remember to move past the initial dollar amount, and calculate what all those little extras may amount to at the end of the year.

• Setting realistic expectations
• Planning and preparing your job search
• The almighty resume
• The cover letter
• The job interview
• Preparing for interview questions
• Evaluating a job offer