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The value of employer benefits

Benefits combined are worth about 30 percent of your total compensation package, according to the U.S. Department of Labor. They cost employers an average of $8.81 per hour worked in December 2008.

Suppose you're offered an annual salary of $50,000. Your benefits package would theoretically be worth more than $15,000, so your total compensation would be valued at roughly $65,000.

Take a look at how much your benefits package adds to your overall compensation, based on the Department of Labor's most recent estimates.

Benefit breakdown, based on $50,000 annual salary
Benefit descriptionPercentage of payDollar value
Legally required benefits including Social Security, Medicare, unemployment insurance and workers compensation insurance7.8 percent$3,900
Life, health and disability insurance8.4 percent$4,200
Paid leave (vacation, holidays, sick leave and personal)7.1 percent$3,550
Average employer contribution to retirement and savings4.4 percent$2,200
Supplemental pay2.5 percent$1,250
Total Value:$15,000
Source: U.S. Department of Labor – December 2008 Employer Costs for Employee Compensation Survey

 

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