Company A: Benefits

So, today I received the benefits package for Company A. I still have not received a salary offer, but expect to see it by the end of week. Here is what they are offering me in terms of benefits:

  • Medical- POS II (company pays premiums for my eligible dependents and I)
  • Dental- PPO Plan (company pays premiums for my eligible dependents and I)
  • Vision Plan
  • Employee, Child, Spouse Life Insurance
  • More insurance
  • Healthcare Spending Account (Min $250, Max $5000)
  • Tuition Reimbursement (up to $8,000 in a calendar year)
  • Holidays and Sick Time
  • Volunteer Program 🙂
  • Matching Gifts Program up to $1,000 matched to a non-profit
  • 7% 401K contribution, as long as I put in 5%
  • Stock Purchase Plan (I can purchase up to 7.5% of after tax base salary. Company will match each share after a 3 year vesting period)

According to a couple employees I talked to, their medical package is great. I know that their 401K contribution is also great especially in this economy. If I remember correctly, Company B offered 5% last year, I am assuming they will be offering me a similar package. I love the tuition reimbursement! As you know, I have 3 classes left in my MBA program ($6000), and this could potentially cover it! Also, the stock purchase plan looks nice! If I start with this company, I would definitely contribute 7.5% of my salary to stock, especially since the company would match it after three years, then I could sell the stock. Anybody have any experience with this?

I need to do more research on the medical package and what it entails. Right now, I only care about being able to see my urologist; I have been under his care for the past 16 years.

I wanted to share this because I realize there is not a lot of information on what benefits people receive. Especially right after graduation. Some people are uncomfortable sharing this information. I am not. Probably, because I blog anonymously. It’s great to compare! It, also, helps to establish a baseline. How do you know if you have awesome benefits, if no one wants to talk about them??? To me, it does not make any sense.

So what do you think? Is it a good starting point? Any questions I should be asking?

SavvyFinancialLatina

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8 responses to “Company A: Benefits

    • It is. I am leaning towards them right now. But I haven’t received salary offers yet, so I have to wait and see. Plus, right now the commute is not bad. Only 10 – 15 minutes away from in-laws house. I would have to relocate for Company B. Ahh decisions.

  1. Wow. That looks really good! Right now the only benefit I get from work is health insurance, but I still have to pay half the premiums

  2. That’s a solid benefits package! A 7% match is one of the highest I’ve seen recently. Do you happen to know which investments are available through the 401(k)? Hopefully there are low-cost index funds (Vanguard or Fidelity Spartan) available.

    I also like the matching gifts program. It shows that the company puts an emphasis on generosity and giving back.

    • Hi Evan! I actually do not know what options are available through my 401K. Something I will definitely have to look into. I really like the matching gifts program. I am probably going to utilize it if not within the year, the next year. I strongly believe in giving back to the community.

  3. I’m uncomfortable sharing salary but benefits? no way!
    those benefits ROCK! I only get a 3% match if i contribute 3%. However, i also get a pension.
    The most i got at a private job though was a 4% match if I contributed 5%. so you would have a total of 12, which is amazing!
    medical sounds good to me too! those are great benefits.

    • Yeah. I probably won’t share salary either. But a benefits package is a benefits package. Everyone in the company has the same benefits package unless you are an executive. Thanks for the input!!!

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