What should I include in total compensation?

Total compensation includes: base salary, annual bonus (target), employer 401k match, health/dental/vision insurance premium (employer portion), stock options or RSUs, paid time off value, remote work savings, education reimbursement, and other cash benefits.

How do I value employer health insurance?

The average employer health insurance contribution is roughly $7,000–$8,000/year for an individual and $21,000/year for a family (2023 data). Compare the premium you'd pay at each employer and note deductibles, networks, and HSA eligibility to quantify differences.

Should I consider commute time as compensation?

Yes. A 1-hour commute each way costs roughly 500 hours/year of personal time. At your effective hourly rate, this can be worth $10,000–$25,000+ annually in time cost alone. Remote work or shorter commutes have significant but often overlooked economic value.

How do I compare salaries in different cities?

Use cost-of-living index to adjust. A $120,000 salary in San Francisco buys less than $80,000 in Austin due to housing, taxes, and costs of living. Divide salary by the city's cost-of-living index relative to a baseline to get comparable 'real' purchasing power.

How do I value a 401k match?

If Employer A matches 50% up to 6% of your $100,000 salary, that's worth $3,000/year in free money. If Employer B offers no match, that's a $3,000 difference in real compensation. Always try to contribute at least enough to get the full employer match.

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Compare two job offers or salaries side by side. Go beyond base salary to account for benefits, commute costs, hours worked, and bonuses to find which offer truly pays more per hour and total.

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Beyond Base Salary

A higher salary doesn't always mean more money in your pocket. A job paying $95k with expensive health insurance, long commute, and 50-hour weeks may be worth less per effective hour than a $85k job with free benefits, remote work, and 40-hour weeks.

What to Include in Total Compensation

Cash: Salary + bonus + commissions + profit sharing
Retirement: 401k match value (e.g., 3% match on $100k = $3,000)
Health benefits: Employer contribution to premiums (~$7–21k/yr)
Remote work: Commute savings, home office deduction, flexibility
Equity: RSU vesting value, stock options
Paid time off: Value = salary ÷ 260 work days × PTO days

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Beyond Base Salary

What to Include in Total Compensation