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Compensation will be a key factor in your decision whether to accept a new position. However, few people take the time to really understand their economic choices, mostly because there are so many hidden factors, such as cost of living, benefits, and so forth. To help you put your choices into perspective, use the following guide to evaluate your prospective compensation package with what you’re currently earning.

Position Compensation Guide
Directions: Compare the economics of the old and new job.

Current Job

New Job

Element to Consider

$ $  Base salary
$ $  Bonus, commissions
$ $  Additional perks
$ $  Profit sharing potential
$ $  Value of stock or equity
$ $  Pension
$ $  401(k) contribution
$ $  Reimbursed expenses
$ $  Cost of living differences
$ $  Moving expenses
$ $  Travel expenses
$ $  Insurance premiums
$ $  Property taxes
$ $  State, local taxes
$ $  Sales taxes
$ $  Other expenses (specify)
$                     $                        $              Difference (+/-)

Regardless of where compensation ranks on your list of priorities, it’s a good idea to know what you may be getting into when faced with a career decision.

 

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Let’s assume your employment interview went well, and there’s sincere and mutual interest on both sides. You now need to decide two things: first, whether the new position is right for you; and if so, what sort of offer you’d be willing to accept. To help in the decision-making process, take the following test as a way to compare the two positions.

Position Comparison Guide
Directions: Compare the new job with what you already have.

Old job

New job

  Element under consideration
  Position title
  Supervisory responsibility
  Project authority
  Decision-making autonomy
  Freedom to implement ideas
  Ability to affect change
  Promotion potential
  Challenge of tasks
  Ability to meet expectations
  Access to professional development
  Professional growth potential
  Company/industry growth
  Company/industry stability
  Starting salary, benefits, perks
  Future compensation
  Commuting distance
  Travel requirements
  Work environment
  Rapport with co-workers
  Rapport with management
  Comfort with corporate culture
  Other considerations (specify)
  Total score: New job vs. old job

 

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