Optimal Work Daily - Career, Productivity and Entrepreneurship 1190: Why a Lower Paying Job May Still Be Worth More by Kelley Long with Financial Finesse on Total Compensation
7 snips
Jan 3, 2024 Kelley Long discusses the hidden value in lower-paying jobs, emphasizing premium benefits, health insurance, retirement plans, financial wellness benefits, professional development support, and life insurance as part of total compensation.
AI Snips
Chapters
Transcript
Episode notes
Salary vs. Benefits
- Kelley Long learned that higher salaries don't always mean more take-home pay.
- Her new job's lower benefits offset the salary increase.
Health Insurance Evaluation
- Evaluate employee benefits like health insurance premiums, deductibles, and HSA contributions.
- Consider the maximum out-of-pocket expenses for each health plan.
Retirement Plan Contributions
- Factor in employer retirement plan matches and discretionary deposits as part of your total compensation.
- Contributing less than the maximum match is like refusing extra pay.