{"id":1100,"date":"2018-01-04T11:17:55","date_gmt":"2018-01-04T11:17:55","guid":{"rendered":"http:\/\/www.recruitment-connection.co.uk\/?p=1100"},"modified":"2018-01-04T11:17:55","modified_gmt":"2018-01-04T11:17:55","slug":"job-searches-look-at-the-entire-package-not-just-the-salary","status":"publish","type":"post","link":"https:\/\/www.recruitment-connection.co.uk\/index.php\/2018\/01\/job-searches-look-at-the-entire-package-not-just-the-salary\/","title":{"rendered":"Job Searches: Look at the Entire Package (Not Just the Salary!)"},"content":{"rendered":"

Job Searches: Look at the Entire Package (Not Just the Salary!)<\/span><\/h1>\n

The start of a new year often coincides with a spike in job searches. In fact, more than half of the UK population will look for a new job in 2018. It can be tempting to focus solely on the offered salary. However, a wider perspective which takes into account the entire package being offered is advisable. Other factors to be considered include:<\/p>\n

Pension Contributions<\/span><\/h2>\n

It can be important to consider whether your employer is using a defined contribution (DC) pension or a defined benefit (DB) pension scheme. The average employer for a DC scheme puts in 3.2% of salary, but this number can range from the minimum 1% to 10%. The average employer for a DB scheme, conversely, puts on 16.9%. If you seek a greater reward for your work, rather than additional cash, this can be a way of getting more money from your employer by diverting a greater amount of your salary into your pension.<\/p>\n

Life Cover<\/span><\/h2>\n

Almost all employers offer a payment of several times your salary if you die while performing contractual duties. The majority will also pay for income protection; this will provide you with a regular income if you are unable to work for a while.<\/p>\n

Medical Insurance<\/span><\/h2>\n

One-fifth of employees have private medical insurance. To replace this benefit, it would cost an average of just under \u00a31,500. The benefits outweigh the payment of tax on their cover.<\/p>\n

Save as You Earn Schemes<\/span><\/h2>\n

After paying a monthly sum into such schemes for a period of three to five years, you will be given a bonus. You can then buy shares in your employer at a fixed price. If the share price has increased during the period you can buy the shares at a large discount. If share price has fallen, you simply get your savings back with the addition of the bonus.<\/p>\n

If you are currently involved in such schemes and decide to move employers, you will only get your savings back and no longer have the option to buy shares. Occasionally a new employer will compensate you for the forgone share options.<\/p>\n

Other Benefits on Offer<\/span><\/h2>\n

These include:<\/p>\n