Put them on your wishlist.
Nowadays, workers are quitting their jobs in droves and looking for better deals. If you’re not happy with your current job, you might be interested in getting a new one that pays better and comes with a schedule that works better for you.
But remember that your salary is only a part of your total compensation. It is also important to look for a job that offers a good package of benefits. In fact, the following benefits were high on the worker priority list in a recent MetLife study, and these are benefits you should be aiming for as well.
1. Health insurance
A good health insurance plan could make medical care easier to obtain and pay for. Some employers fully subsidize workers’ health insurance premiums, while others offer a partial subsidy.
You can also have different choices of packages to choose from. Pay attention to the insurance offered to you when looking for a new job and make sure you are eligible for it when you are hired.
2. A pension plan
It is common for workplaces to offer a 401 (k) plan for retirement savings purposes. If you find a new job that doesn’t offer one, you can still save for your retirement in an IRA. But companies that offer 401 (k) usually match worker contributions to some extent, which translates into free money for your retirement years.
3. Paid leave
Paid time off can be an important part of maintaining your mental and physical health. You might want to look for a company with a generous paid time off policy for things like sickness and maternity / paternity.
4. A health savings account
Some health insurance plans have a deductible high enough to make participants eligible for a Health Savings Account (HSA). An HSA allows you to save money for healthcare in a tax-efficient manner. HSA contributions are made with tax-free dollars. Put $ 1,000 in an HSA and the IRS will not tax $ 1,000 of your income.
HSA funds can also be invested so that they become a larger sum. And these funds never expire, so there is no pressure to use your money before the end of a given calendar year.
5. A flexible expense account
While not all health insurance plans are compatible with an HSA, Flexible Spending Accounts (FSA) are open to anyone with health expenses. Like an HSA, an FSA allows you to set aside pre-tax dollars for medical bills, but unlike an HSA, you must deplete your balance at the end of your plan year or risk losing it. Nonetheless, it is advantageous to use an FSA over a regular savings account for healthcare expenses because of the tax savings alone.
FSAs also include a component for the care of dependents. If you pay for child care, you can set aside pre-tax funds to cover your costs.
You can have a certain salary in mind when looking for a new job. But don’t forget to research the benefits that can save you money, help you achieve different goals, and generally improve your quality of life.