Benefits combined are worth about 30 percent of your overall compensation package, according to the U.S. Department of Labor. They cost employers an average $8.81 per hour worked in December 2008.
Suppose you're offered a salary of $50,000 annually. 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 DOL's most recent estimates.
Benefit breakdown, based on $50,000 annual salary
| Legally required benefits including Social Security, Medicare, unemployment insurance and workers compensation insurance |
7.8 percent |
$3,900 |
| Life, health and disability insurance |
8.4 percent |
$4,200 |
| Paid leave (vacation, holidays, sick leave and personal) |
7.1 percent |
$3,550 |
| Average employer contribution to retirement and savings |
4.4 percent |
$2,200 |
| Supplemental pay |
2.5 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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