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tigerforever7
LSU Fan
Baton Rouge
Member since Aug 2012
480 posts

How much do you value and use your company benefits plan?
Hey everyone, mostly a lurker here. I am about to finish my MBA and finally get into the real world. I have come across a company that does not offer a nice benefit package, however the salary is slightly higher than another job. How much do y'all value a good benefits package and how much do you use it? Thanks


castorinho
Oklahoma Fan
13623 posts
Member since Nov 2010
57709 posts

re: How much do you value and use your company benefits plan?
Depends. If we're talking Healthcare, if you can find out how much the company pays, or the delta between what you'd pay and something like Cobra, then you can quantify it. 401k matching, fairly straightforward.
If you can put numbers to it, it makes it easier to compare


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30
LSU6262
LSU Fan
Member since Jun 2008
4892 posts

re: How much do you value and use your company benefits plan?
401k - very highly valued
Insurance - very highly valued
Vacation - negotiable


For your first job out of school, pay should not be the number 1 reason for accepting a job. Training, experience, and career progression should be the things you most consider.


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51
thegreatboudini
McNeese State Fan
Member since Oct 2008
4157 posts

re: How much do you value and use your company benefits plan?
Big scope here.

I currently sacrifice 10–15% salary to have 25 days PTO, every holiday you can imagine, 6% match, top notch healthcare, dental and vision, office breakfast and happy hours basically weekly and the ability to work from home on any given day (typically just not when clients are in).

I’m currently working from home in prep for a trip I’m leaving on tomorrow. I work from home every Friday, and 1-3 Monday’s and/or Thursday’s a month.

I know I will be bored of this position and eager for something new one day, but it is going to be tough to leave this.
This post was edited on 5/15 at 11:00 am


TheWiz
LSU Fan
Third World, LA
Member since Aug 2007
9926 posts

re: How much do you value and use your company benefits plan?
I'm in a similar boat. I am probably underpaid by $10k-$15k.

Our 401k is above average. Lots of Vanguard Admiral options and a 4% match up to $4,000.

I get 30 days of PTO/year but I've been here 11 years and on our executive team. We have a reasonable amount of holidays as well.

Healthchare is my biggest perk. I do not pay a dime for medical and something cheap for dental. I think it is $50'ish a month. Healthcare may not be your biggest priority as a young buck, but it will be one day. To put it in perspective, my son spent 8 days in the ICU when he was born and then at 5 months had open-heart surgery. The bills were right around $500,000. I spend $2,750 for our low deductible.


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81
hungryone
LSU Fan
river parishes
Member since Sep 2010
8667 posts

re: How much do you value and use your company benefits plan?
Benefits are why I have a job. I leverage an 80% position w/full benefits to support my outside activities & self-employed spouse. As you age, the price of healthcare becomes increasingly important. The subsidized cost of my employer family plan is easily worth multiple thousands in my age bracket.


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32
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USA
Member since 2001
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fjlee90
LSU Fan
Baton Rouge
Member since Nov 2016
1991 posts

re: How much do you value and use your company benefits plan?
401k - Excellent.
Healthcare - Above average and on the up and up from what I have seen.
Incentives - On par with industry average
PTO - 6 year employee, 26 days
Pay - Industry average

Can't complain.


lynxcat
Rutgers Fan
Member since Jan 2008
20110 posts

re: How much do you value and use your company benefits plan?
A good benefits plan can easily be worth $15-20K in value...I say that as a single individual without a family. With a family, the health benefits alone could push to $30K+ in value.

Your opportunity cost would be what it costs to go to the private market to get a similar plan (in the case of healthcare).


BenDover
Texas Fan
Austin
Member since Jul 2010
4796 posts

re: How much do you value and use your company benefits plan?
I use my company's plan, it's a huge perk and definitely something to consider. As much as salary if it's going to be your first job. As a reference, our benefits are below --

401k: 9% match up to 6% of my salary
Individual plan: $120/mo, $1,500 deductible with an HSA. Max out of pocket is $6,550
PTO: 15 days, 7 federal holidays
Paid cell phone plan
$12k tuition reimbursement


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bayou choupique
LSU Fan
the banks of bayou choupique
Member since Oct 2014
1130 posts

re: How much do you value and use your company benefits plan?
my employer sends an annual cost to employ statement. my health insurance is about $22,000 for a family of four. add on 6% for 401k and another = +/- $8,000 per year. benefits add up quick.


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LSUTOM07
LSU Fan
Baton Rouge
Member since Dec 2011
671 posts

re: How much do you value and use your company benefits plan?
quote:

How much do y'all value a good benefits package and how much do you use it


Benefits can add up. That's is how great companies are fighting to attract and retain top talent. One plus I've seen from working at a company with some of the best benefits in the country.. many people are happier at work. But the pay must still be competitive, or its tough to justify a few extra perks.


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10
meansonny
Georgia Fan
ATL
Member since Sep 2012
7886 posts

re: How much do you value and use your company benefits plan?
Huge value

Company pays $17551 for my health insurance.
Pension (about $7k/yr)
Matching 401k (caps about $5300/yr)
Dental $771
HSA $1k contribution
Mileage reimbursement about $1200/yr

And I get to work from home.

Huge factors in my job positioning.


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