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Benefits, Benefits, Benefits
When you get that job offer make sure you are reviewing and deciding on more than the money being offered. In Calgary’s economy, the benefits you are being offered are just as important as the money you are being offered. Remember to consider the tangible and intangible benefits you are being offered. Intangibles would include job satisfaction and what the work environment is like.
Tangible Benefits to Consider
These are just some of the tangible benefits to consider when mulling over an offer.
Health Insurance – This is about premiums and what is paid for and what isn’t. How much will your out of pocket costs be? Make sure you understand this before you accept the job.
Life Insurance – not all jobs offer this and many only for as long as you hold the job. Again just be sure you understand and are comfortable with whatever it is.
Short Term Disability Insurance – this pays you a percentage or all of your salary if you are disabled for 6 months or less.
Long Term Disability Insurance – this kicks in after your short term disability insurance runs out and typically pays about two thirds of your salary for as long as the policy stipulates. Some conditions pay for a couple of years while others pay indefinitely.
Long Term Care Insurance – this is insurance for assisted living and/or nursing homes and skilled care down the road.
401K – there should be a pension, retirement or 401K plan. Hopefully this is a plan that both you and your employer contribute to, but at the very least one or the other.
PTO versus Vacation and Paid Sick Leave – for many workers this is a critical benefit while for others it is not as important.
Paid Maternity Leave – this is a major perk if available
Paid Paternity Leave – this is an even bigger perk and seldom seen.
Company Vehicle – certain types of jobs might come with either a vehicle or a transportation allowance. These are usually jobs that require travel as a part of the job.
Parking – a safe, lighted place to park is a very important benefit.
Bonuses – if you cannot count on raises try to get a bonus system set up.
Intangible Benefits to Consider
Who you report to is usually very important to most people. Be sure you are comfortable working for this person and that you have met and interviewed with your actual boss not just a human resources person or your boss’s boss.
Work Environment – will you enjoy working there? Is the environment casual? Intense? Increasingly competitive? Does your personality fit the personality of the work environment?
Culture and Management Philosophy – what is the culture of the company and the philosophy of management? Do you fit in or will you be fighting against the culture and philosophy all the time? If you are stressed out by the culture don’t take the job. You won’t be happy and you won’t stay long term.
Commute – how long is the commute and how hard is the commute? It might be only a few miles but due to congestion and roads could take 30-40 minutes. How much time are you willing to spend commuting?
Advancement Opportunities – are they abundant or few and far between?
Whatever your needs are, make sure you are aware of them, prioritize them and get the most important ones met when you accept that new job.