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Salary vs benefits

Mashudu Nenjelele • Sep 16, 2022

​When faced with a job offer most professionals are inclined to accept the job, which offers a higher salary than their current net salary. They may argue that money is the only deciding factor whether you accept a job offer. However, the employee benefits offered by a company should never be overlooked as they provide important sources of passive income as well.

Although employee benefits may reduce your nett salary, they have long-term value for professionals. Employee benefits assist employees to fund important expenditure such as retirement, life and disability cover and medical aid.

While benefits and remuneration are both equally important, Network Recruitment's specialist recruiters all agree that it depends on the candidates' preference. To determine which is more important to you, first establish why you want to leave your current employer then ensure that your new employer can meet your needs on a professional and personal level.

In addition, job seekers should always consider what is most important to their lifestyle. Given the current economic circumstances, the benefits that one receives from your employer could help you tremendously in the long-run. Medical aid and pension fund contributions are savings plans for that "rainy day" which might feel like a pinch in the pocket right now, but helps in future when it is really needed.

It makes sense for job seekers to want employee benefits because of the long-term rewards. However, we have noticed that many of employees prefer a higher net salary and have their own savings plans or Retirement Annuities (RA).

If you are good at saving on your own and prefer to choose whom you save with and what level of medical care you require then the best option would be to opt for a higher net salary and less employee benefits. Take into account that most conglomerates do not give you an option unless one can prove that you already have such policies in place.

Based on Network Recruitment's research, many of our finance candidates prefer not to have medical aid or pension included as part of their salary package as they want to choose their own medical aid and be able to manage their own investments or RAs.

Whether you choose a job offer with a higher salary or one that has more benefits, the choice is ultimately yours. However, if you chose the latter and your net salary is lower than your current net salary, keep in mind the long-term rewards of the benefits.

Looking for an IT job, Finance job or, Engineering job? Contact Network Recruitment, for all your specialist recruitment needs. Click here to APPLY.   

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