10 Key Elements of a Total Compensation Package

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Via: twitter.com
What's your total compensation package: Compute it: http://t.co/lwioNYvvyT #nowyouknow

"KFC’s salary offer is $58,000 and Greyhound's offer is $64,000. How can KFC be so silly and offer me less than I’m making now, and less than Greyhound!!"

The numbers and companies mentioned are fictitious, but it is a discussion we are all a part of from time to time – on either end of it.

I believe that tempting as it might be, because of its abject simplicity, comparing base salaries is a terrible idea. Yes, base salary is a very important part of our compensation. But it is just one part. When we compare job offers, as we surely will given our new year resolutions (!), the number to focus on is our total compensation.

There are ten elements that comprise a typical compensation package. They are:

Base Salary

Annual/Quarterly Bonus

Other bonus (