December 2, 2015 by texasbbacareerservices
They say consider the “whole package” when it comes to your job offer, including your benefits; but how do you know what “good benefits” are?!
Remember, it’s okay to ask questions and for clarification. It’s great to actually talk to a Human Resources representative at the company. They are well versed in the jargon of benefits and can help you understand and make educated decisions. Also, talk to your parents and other family members or friends that have had years of experience picking insurance and retirement plans. They could have personal experiences/stories that can help you make a choice.
Lesson Learned: I saved money monthly with a cheaper dental plan; however I recently paid the price! I had slim pickings on dentists covered by my insurance; this was not pleasant when trying to find a “good” specialist for a root canal. I can’t wait for Open Enrollment when I can change my dental plan; this time I’ll pick a plan that costs a little bit more a month but has a lot more flexibility!
The whole package does matter; don’t cut yourself short by not considering the benefits package of your job offer!
Here are a few helpful articles/websites to get your research started:
- Understand All 24 Components of Your Job Offer Benefits Package
- Overview of benefits, including: Insurance, Vacation, Sick/Personal Days, 401 (k) Plans, Pension Plans, Profit Sharing, Stock Options/Restricted Shares/ESOPs, Tuition Reimbursement, Overtime, and more!
- Understanding Your Employee Benefits
- Brief overview of benefits, including: Health, Life and Other Insurance Options, Employer Match, Paid Vacation and Sick Time, Stock Options, Flexible Spending Accounts
- Total Compensation: Understanding Benefits Packages in Your Job Search
- Brief overview of benefits, including: Health insurance, 401 (k) Plans/Retirement Options, Sick Leave and Vacation Time, and Stock Options or Profit Sharing
- Employee Benefits: How To Know What To Choose
- Looks at how to choose a retirement plan, how many allowances you want to claim with taxes, health, life, and disability insurance, Pre-tax Medical and Childcare, and making changes.
Articles/Websites On Specific Components Of Your Benefits:
- How to Pick a Health Insurance Plan
- A 3-step retirement savings plan for 20-somethings
- How do stock options work?