The Economic Factor

The Economic Factor

Compensation, of course, will be a key factor in your decision whether to accept a new position.

Oddly, few people take the time to really understand their economic choices, mostly because there are so many hidden factors, such as cost of living, benefits, relocation expenses, and so forth.

Regardless of where compensation ranks on your list of priorities, it’s a good idea to know what you may be getting into when faced with a career decision.

To help you put your economic choices into perspective, use this compensation comparison to evaluate both your prospective compensation package and what you’re currently earning.

The best time to make your calculations is before an offer is made. That way, you can form a clear idea of what you’ll need, without having to dicker (or experience shock) later on.

If you’re looking at an opportunity that’s in a different geographic location, you might want to do some investigating before you even interview. For example, if you live in a nice suburban community in Lawrence, Kansas, what would it cost you to maintain your current lifestyle in an area like San Francisco? Your answer (and your willingness to make the necessary trade-offs) will help determine your level of interest when considering the new position.