Salary Add-ons

When you are trying to figure out what your real salary is, you don’t just look at the dollar amount on the paycheck right? Different jobs come with different packages.

To truly evaluate the job, you need to factor in the benefits beyond the hourly rate. Private employers may have Bonuses, but Public jobs have advantages too.

Here is the breakdown of our salary additions.

01/29/16   HIS

Health Insurance…….$ 15,675

Amount paid by employer

Sick/vacation days…..$ 8,901

Holiday pay…………..$ 3,988

HSA contribution……$ 1,979

Employer monies into HSA

Defined Contribution.$ 5,583

Retirement paid by employer

Bar Dues………………$ 345

Covered by employer


Total………………….$ 36,471

Total Compensation..$116,241

01/29/16    HERS

FERS Contribution….$ 16,350

Federal retirement system

FEGLI insurance…….$ 237

Life insurance paid by employer

TSP……………………$ 5,967

Other Federal retirement system

Holiday pay………….$ 4,590

Sick/vacation days…..$ 17,902


Total………………….$ 45,046

Total Compensation..$164,790

Next, you have to consider the less tangible pros & cons of any job. Things like;

  1. Distance of the commute. This one may not seem that important in the beginning, but year after year of driving back and forth, or dealing with traffic, really takes it toll. Not to mention the added stress of winter driving. (where applicable).
  2. Workplace Culture. Every workplace has its own flavor. A place you want to be at everyday with people you would choose to be around is considerably more valuable than a poisonous work environment. Full of spiders and sharks.
  3. Career Mobility. Does this job have any realistic room for you to advance? Looking at the long term is a more nuanced calculation, but it is still important to consider.

I personally have recently left a job to take a $5,000 pay cut. Here are our Current Paychecks. I traded in for a way better work environment and the possibility of future advancement. Dollar amounts aren’t everything.

 

Let's get things nice and sparkling clear