Compensation will be a key factor in your decision whether to accept a new position. However, few people take the time to really understand their economic choices, mostly because there are so many hidden factors, such as cost of living, benefits, and so forth. To help you put your choices into perspective, use the following guide to evaluate your prospective compensation package with what you’re currently earning.
Position Compensation Guide
Directions: Compare the new job with what you already have
| Current Job |
New Job |
Element to Consider |
| $ |
$ |
Base salary |
| $ |
$ |
Bonus, commissions |
| $ |
$ |
Additional perks |
| $ |
$ |
Profit sharing potential |
| $ |
$ |
Value of stock or equity |
| $ |
$ |
Pension |
| $ |
$ |
401(k) contribution |
| $ |
$ |
Reimbursed expenses |
| $ |
$ |
Cost of living differences |
| $ |
$ |
Moving expenses |
| $ |
$ |
Travel expenses |
| $ |
$ |
Insurance premiums |
| $ |
$ |
Property taxes |
| $ |
$ |
State, local taxes |
| $ |
$ |
Sales taxes |
| $ |
$ |
Tuition reimbursement |
| $ |
$ |
Other expenses (specify) |
|
|
|
| $ |
$ |
$ Difference (+/-) |
Regardless of where compensation ranks on your list of priorities, it is a good idea to know what you may be getting into when faced with a career decision.
You might also be interested in:
Since March 2020, the businesses around the world have changed the way they manage their talent significantly. The workforce has experienced changes, especially in remote work and relationships between employers and employees.
If you want to win the war for talent, skills-based hiring must be a part of your strategy. Judging talent by degrees alone is not enough.
