When you’re working towards building a career and looking at roles, you might find that how much you get paid is the primary concern. However, looking at your salary alone can be a huge mistake. Benefits can be worth a lot more in the long-term, as well as when it comes to dealing with unexpected events that might otherwise cost you more than you can afford. Here, we’re going to look at the benefits you should be looking for, as well as the benefits you should be fighting for.
The vast majority of professional adults in the country get their health insurance through their employer. The costs of handling it alone are simply more than most employees can handle. Not all employers are required to offer it, only those that have more than 50 employees (and that may change in time.) However, besides ensuring that your employer provides health insurance, you should look into the greater details of what, exactly, they offer. Do they provide dental care coverage as well as clinical treatment? Are there any discounts on particular treatments? Do you have to change your doctor for someone who is part of the network? Don’t let any detail about your potential health insurance escape your notice.
Some benefits can help cover you in the long-term, as well as in the event that your life takes an unexpected turn. Disability insurance under ERISA law is one such example and can help you protect your income if you are injured and put out of work. However, while these kinds of protections can be a major relief, you aren’t necessarily guaranteed to receive them when you need them most. Providers can deny coverage, even when it is legitimate, and you might need an ERISA lawyer to help you get what you deserve. However, that will only be an option if the employer provides it in the first place. Consider not just the short-term benefits, but the long-term protections you may one day rely on.
All employees of all ages should be concerned about their retirement funds. The sooner you start saving, the more likely you are to have a healthy amount put together by the time you need it. Retirement plans are not mandatory, so it’s worth asking about. It’s also worth taking advantage of if your employer does offer it. You can maximize your retirement by paying as much as you can into it if the employer offers to match contributions up to a certain amount. To max your savings, you should also be focused on building your own retirement plan, such as using an ISA that your employer’s contributions supplement.
If it’s high enough, it is true that a salary can help you cover the costs of these benefits, but the truth is that it’s much easier to find an employer who will contribute their fair share rather than handling It yourself. For that reason, keep benefits in mind during your job search.