employee benefit package. how do you decide when you are presented with more than one job offer, how...
TRANSCRIPT
EMPLOYEE BENEFIT
PACKAGE
HOW DO YOU DECIDE
When you are presented with more than one job offer, how do you make your final decision? Consider this information when deciding
•Indirect vs Direct Compensation
•Base Pay
•Merit Pay
•Incentive Pay
•Deferred Pay
INDIRECT COMPENSATIONPay for Time Not
Worked• Vacations• Holidays• Sick Leave• Jury Duty
Protection Programs
• Medical Insurance• Life Insurance• Disability Income• Pension• Social Security
Services and Perquisites
•Recreational facilities•Car•Financial planning•Low-cost or free meals
DIRECT COMPENSATION
BASE PAY
•Salary based on an annual amount regardless of hours worked
•Wage based on an hourly set amount
DIRECT COMPENSATIONMERIT PAY
• Paid for something special you do
DEFERRED PAY
•Savings plan
•Stock purchase
•Annuity
INCENTIVE PAY
•Bonus
•Commission
• Piece rate
•Stock option
• Profit sharing
•Shift differential
EMPLOYEE + CHILD ONLY
Family CoverageFamily Coverage
WHEN DEDUCTIONS ARE MADEPRE TAX—Deductions are made prior to paying taxes
• Examples: Medical, Dental And Vision Insurance, Life Insurance, Flexible Spending
POST TAX—Deductions are made after taxes have been deducted
• Examples: Life Insurance (above what is offered), Disability