Thought Process Series: Changing Jobs

May 11, 2020

Thought Process Series: Changing Jobs

This series is intended to give you a little "Food for Thought" regarding every day topics.  The topic today, evaluating job changes.



Apples to Apples
SalaryCurrent JobJob Offer
Hourly Rate  
Overtime available?  
Bonus pay/structure  
Employer Paid Life Insurance
How much?  
Supplemental available?  
Short Term Disability
Elimination Period: How long until it kicks in?  
What percentage of your base pay is covered?  
Benefit Period: How long does it pay you?  
Long Term Disability
Elimination Period: How long until it kicks in?  
What percentage of your base pay is covered?  
Benefit Period: How long does it pay you?  
Is there a base plan and then a "buy-up" option for additional coverage?  
Retirement
Do they have a retirement  plan?  
How much does the employer match?  
Is there a vesting schedule?  
Is there an additional profit sharing plan?  
Is there a vest schedule on the profit sharing?  
Does the employer offer a pension?    
What are the payout options?  
What are the retirement ages/qualifications?  
Does the company offer stock or stock options?  
Time Off
How much vacation or PTO time will you have right away?  
Will you earn additional time with years of service?  
Do you need to take time off in specific increments?  
When is your vacation time awarded for the year or is it accrued pay period by pay period?  
Can you work remotely?   
Does the schedule align with your family's needs?  

 

This is meant for educational purposes only.  It should not be considered investment advice, nor does it constitute a recommendation to take a particular course of action. Please consult with a financial professional regarding your personal situation prior to making any financial related decisions.  (05/20)