1. Benefits & Job Expenses
Chapter 2, Section 2-4
Benefits & Job Expenses

2. I can… Find the total job benefits Find the net job benefits
Compare the net job benefits of jobs

3. What are employee benefits?
Also called “fringe benefits”
Employers provide other things to their employees besides wages
Low cost health care/insurances
Paid holidays/vacation time
Sick leave
pension
Company car
Uniforms
Child care
Education
Recreational facilities
Credit unions

4. How do you know what your benefits are?
It can be stated in money amounts OR as a benefit rate, which is a % of gross pay.
Employee Benefits = benefit 1 + benefit 2
Employee Benefits = benefit rate x gross pay
When considering different job offers be sure to take both wages and benefits into consideration.
Total job benefits = gross pay + benefits
Example 1, p.59
Check your understanding A & B

5. So how much of my benefits do I really get to put in my pocket (net)?
To find out you have to calculate your “net job benefits.”
First figure out your job expenses.
Examples:
Union or professional dues
Commuting expenses (how much it costs to drive)
Uniforms
Licenses
Tools
Net job benefits = total job benefits - job expenses
Example 2, p. 60
Check your understanding C & D

6. So how do I decide which job is better if I have a few to choose from?
You should think about the following things when comparing jobs:
Net job benefits
How much you like the jobs
Likelihood of getting a raise or promotion
Chances of layoffs
Job security
Example 3, p. 60
Check your understanding E & F