1. Employee Benefit Package

2. How Do You Decide
When you are presented with more than one job offer, how do you make your final decision? Consider this information when deciding
Indirect vs Direct Compensation
Insurance Packages (Health, Dental, Life, etc.)
Perks (Company Car, Gym Memberships, etc.)
Base Pay, Merit Pay, Incentive Pay, Deferred Pay

3. Indirect Compensation
Definition: Something you receive from your employer that is not in the form of cash/money.
Indirect Compensation
Protection Programs
Medical Insurance
Life Insurance
Disability Income
Pension
Social Security
Pay for Time Not Worked
Vacations
Holidays
Sick Leave
Jury Duty
Services and Perquisites
Recreational facilities
Car
Financial planning
Low-cost or free meals

4. Direct Compensation Base pay Merit Pay Incentive Pay Deferred Pay
Definition: When you receive cash/money from your employer.
Direct Compensation
Base pay
Salary based on an annual amount regardless of hours worked
Wage based on an hourly set amount
Merit Pay
Paid for something special you do
Incentive Pay
Bonus
Commission
Piece Rate
Stock Option
Profit Sharing
Shift Differential
Deferred Pay
Savings plan
Stock purchase
Annuity

8. When Deductions Are Made
Pre Tax—deductions are made prior to paying taxes
Examples: Medical, Dental and Vision Insurance, Life Insurance, Flexible Spending
(*Is a benefit because you end up paying less tax…)
Post Tax—deductions are made after taxes have been deducted
Examples: Life Insurance (above what is offered), Disability
(*Is a benefit because it gets taxed now – not in 15 years when taxes are higher…)