I have an offer on the table that includes the employer paying 100% of all of the medical benefits offered, and they start the first day of employment. My salary offer is nice but I got a counter offer from another compnay that offers a "standard" benefits package meaning still have to pay our of pocket but they are offering almost 10k more in salary. Any advice?
2006-11-28 02:49:06 · 5 answers · asked by Making Them Listen 3 in Business & Finance ➔ Careers & Employment
I would go with the employer paying all medical benefits with coverage starting the 1st day of employment. Such compensation is not taxable (yet).
In addition, the 10K additional salary may put you in a higher tax bracket.
2006-11-28 04:49:10 · answer #1 · answered by PALADIN 4 · 1⤊ 0⤋
My employer offers 100% paid medical, dental & vision benefits as well and this averages to about $4000 per year.
Both Jobs sound great. Question you should ask yourself is do you have alot of health issues. If you are healthy and only see a doctor once or twice a year for checkups then by all means take offer 2 with the 10K more per year. However if you have alot of medical issues and see doctors on a regular( 1 to 2 x per month) basis & they order alot of test this could add up to thousands of dollars per year as well, so offer 1 would be best for this situation. The choice is yours, you have to be happy and confident in whatever decision you make.
You also have some negotiating tactics you can take with offers like this. since #1 job is offering to pay 100% of your medical you could negotiate for a 10% to 25% income increase from the start or over a period of 1- 2 years. This could very well equal the additional 10K the other company was offering.
2006-11-28 03:11:18 · answer #2 · answered by babygirl70529 1 · 0⤊ 0⤋
My employer partially subsidises our benefits so i pay about 100 a month for medical dental and vision (pretty typical) which is much less than 10k a year. If the jobs are comperable then the better financial decision is to go with the higher paying salary.
Good Luck! and congrats on your 2 offers!
2006-11-28 02:53:32 · answer #3 · answered by jess_smith3 2 · 0⤊ 0⤋
If they are offering 10K more, I'd go with the second one. You'd still pay out of pocket expenses, such as co-pay, etc. with the both of them, you just wouldn't pay any monthly insurance fee taken out of your paycheck with the first offer. This probably wouldn't be much of a savings really, especially if you would be getting 10K more at the other place. That'd usually more than make up for it.
2006-11-28 02:56:08 · answer #4 · answered by joannaserah 6 · 0⤊ 0⤋
Go with the one paying 10K more, providing that the time you will not be covered by insurance does not present a huge problem. Your out of pocket contribution for insurance will not be close to the additional money you receive in your paycheck!
Good luck and congrats.
2006-11-28 03:00:07 · answer #5 · answered by Sweet Tooth 5 · 0⤊ 0⤋