This Job Offer Calculator Will Let You Know If You're Being Paid As Much As You Should Be
While the concept of a job offer is usually regarded as an opportunity worth celebrating, sometimes it's not the right opportunity for you. It can be flattering to be wanted by an employer, even sometimes disorienting, which is exactly why Fidelity has created a job offer calculator so that you can step back and take an objective look at the facts before deciding if it's time to leave your job.
Sometimes the excitement of a job offer clouds your ability to see all the fine print. Sometimes a raise in salary distracts you from the decrease in benefits, bonuses, and flexibility. And sometimes a job that might not look impressive in the annual salary sense might be more appealing to you based off the work-life balance and lifestyle quality that comes with it. Fidelity points out that Millennials are willing to take large pay cuts for new jobs that will improve their work and life quality.
And while your current and potential future employers are always the best people to talk to about these things, it can be awkward and uncomfortable to talk about the money. With Fidelity's calculator, you can get a bird's eye view of your two options, side by side. That way, when you are ready to make a decision, you know you've really thought it through. And sometimes, having this information can be helpful when negotiating a new contract for yourself. It's always good to have the facts straight when you're getting ready to make a case for yourself. Here's a peek at what the calculator looks like, what type of information you'll need to use it and what kinds of things you'll need to start thinking about if you're planning on making a choice between two opportunities:
It's not the most important deciding factor but it's definitely important. Bills don't pay themselves. Can you make do with a change in salary? Really think about your expenses.
Benefits can be crucial. Some medical and dental plans can be very light and leave you in a vulnerable position to potentially shell out a lot of money for even the simplest procedures or doctor visits. It's so important to really look into your benefits and make sure they work for you.
Obviously, if your new job is going to require travel, you'll need to think about the cons and pros. But even if your job is on a different side of town, it might change your day-to-day more than you think. Take the time to really consider the differences in location and how that will affect your life.
Don't forget the extras! Think hard about any expenses that might present themselves. Will your new job require a new wardrobe? Longer train rides? Does your new office allow dogs, or will you need to pay for day care? Does your new job offer you free lunch? Discounted gym memberships? Think about all the small details. They add up!
Image: Pixabay; Job Offer Calculator