Job Tips: How Much Money Is Enough?

These valuable tips and suggestions will help you determine how much pay is enough when contemplating a new job or change in employment.

When on a quest to find a new job, not only do you need to consider your hourly wage or weekly salary; you need to consider many other important aspects regarding the potential job. You probably already have a good idea of how much money you require in order to pay your bills and live the lifestyle you are accustomed to living. That brings us to the all-important question, how much money is truly enough? If you're like most people, no amount of money is ever really enough. The more we make, the more many of us spend. It's important to figure out your bottom line and stick to it though.

Don't underestimate what your skills are worth. You'll notice that on most job applications there's a space to note your expected pay. The problem is, if you write what you think the company's starting wage is, you might be shooting yourself in the foot. If you write a figure that's too high, you might never get called in for an interview. So, what do you do? It's best to write, "scale" in the space requesting a desired starting wage. When asked to explain the statement, tell the interviewer you wish to be paid according to the company's wage scale. That way if the company starts new employees out at $12.00 an hour, you won't have belittled yourself by stating that you'd accept $8.00 an hour. Also, you won't price yourself out of the ballpark by requesting too high of a starting wage.

Insurance is a major option to consider when looking for employment. Insurance benefits are worth a lot of money, even if you have to pay a portion of the premiums. Try pricing insurance policies and benefits comparable to what prospective employers are offering. You'll realize the dollar value of those benefits. Optical, dental, medical, life, and disability insurance are all very valuable employee benefits. It may not be worth it to take a higher paying job with lower-quality benefits instead of a lower paying job with premium benefits.

Some companies offer profit sharing plans, 401K retirement plans, bonuses, paid vacations, employee discounts, and employee stock purchasing options. These are all very valuable benefits to take into consideration when deciding on a change of employment. Sure, the benefits don't pay the bills, but you may not be able to pay your bills someday without these benefits.

Another consideration when applying for a new job is the location of the prospective workplace. Time is money, and a 45 minute commute may not be worth an extra $2.00 an hour in the long run. You also need to consider the fuel it takes to get from point "A" to point "B". The distance you drive each day is certainly something your vehicle insurance company considers. Drivers who drive in excess of a predetermined distance have higher insurance premiums. The fact is, the longer you are in your vehicle, the more likely you are to get into an accident.

Last, but certainly not least, you need to consider whether or not a change of employment is beneficial to your overall happiness. A larger paycheck may not be enough compensation for a job you're not happy doing. Work isn't always going to be pleasant, but since most of a full-time employee's waking hours will be spent on the job, it's important to be satisfied with the job.

Whether you're new to the workforce or considering a job change, it's important to carefully consider all aspects regarding compensation. There's more to that decision than just figures on a paycheck. With careful planning and other considerations in mind, you'll be able to determine how much pay is enough to start a new career that will satisfy you financially as well as emotionally.

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