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:
In recent years, personality assessment tests are being used more frequently in the hiring process, and for good reason: one’s personality greatly shapes every aspect of a person’s life, including how they conduct themselves at work.
The Philippines has, for six straight years now, topped the global rankings for both social media and internet usage. Last year, the Philippines also had one of the strictest and longest lockdowns in the world, impacting many businesses and accelerating digitalization. Find out how companies have leveraged consumers' digital savviness to survive, the kinds of digital solutions they have employed and what the projections are for digital commerce in the future.
