Irvinecommuter said:Bullsback said:People may not consider them, but they should. Does a company offer a huge 401K match, a pension, free healthcare...those are all things that you should factor into what I call "total" comp. Do you get 40 days of vacation vs. 10. Now you need to individually weigh the importance of these benefits to you, but you absolutely should compare.Irvinecommuter said:riznick said:Yes and no... I've yet to work at a company that offered benefit packages at that price. That column also includes overtime pay and other bonuses. Also, my kids teachers are still 6 figures without the benefits.Irvinecommuter said:1) It's unfair to add in benefits as part as pay. Most people get benefits but most don't know what their total benefits packages costs.
Yes but when people talk about what one earns, benefits are not usually in the discussion. Teachers' benefits are public information so the figures are out there.
Again...teachers can get to 6 figures if they have a lot of experience and advance degrees. Starting is around $55K...not great if you're talking about a job with an advanced degree.
If Joe blow makes $70K and gets nothing else and Joe Lucky makes $70K base, but gets 8% of every dollar he makes which is put in his 401K (plus a 50% match of any of his investments...no maximum) and then gets healthcare that Joe blow pays $13,000 / yr for his insurance (family of 4). Came up with a rough estimate based upon fact that Obamacare, average family of 4 pays about 16K (if you made 120K...so I adjusted downward for a few grand for simplicity). We'll also assume Joe Blow gets 10 days of vacation and 3 sick days plus 8 holidays. Joe lucky gets 10 holidays, 5 sick days, and 20 days of vacation.
If you don't look at total comp...you just blindly assume the same. Yet, without even factoring in the cost for the additional vacation time...Joe Lucky actually gets (whether he can use it all now or later) makes significantly more.
Now you don't blindly just go off of the benefit factor (as you may not actually benefit from whatever a companies cost is so when you decide between job x and job y, you pick x) but you should look at what your overall comp.
Agreed but that's not what we are talking about about. We are talking about comparing apples to apples when talking about teacher's salaries. If we include benefits for a teacher in the discussion while comparing it to just earned income for others, it's an unfair discussion.
I think it's fair and reasonable to compare the whole financial package.