How to Evaluate your Compensation Package Guide (with Calculator!)

Sweet, you have multiple job offers from companies you’ve pursued for your next career move, but what’s next? How do you decide which company is best for your goals and needs?

In this guide, we walk through how to evaluate your holistic offers against each other.

Disclaimer: This guide isn’t just for digital marketing professionals— it’s for all job seekers in any industry!

 

Why Evaluate Compensation

Digital Marketing is In-Demand

Digital marketing roles grew 33% as companies continue to lean into digital efforts. With over 800,000 job openings, LinkedIn ranked digital marketing roles the 6th most in-demand job in the market.

“During my first ~5 years recruiting at Seer, most applicants would be interviewing with 1-3 other local companies. There’s been a palpable increase in the number of opportunities that each candidate is interviewing for throughout 2021.”

Lauren B. | Sr. People Operations Manager

The adaption of remote work has created a competitive “job seeker” environment. Our recruiting team has seen three trends emerge: expanded reach, dips in acceptance rate, and an increase in internal and external counter offers.

JUMP INTO THE TRENDS

Some offers may sound more tempting than others and it can be overwhelming trying to dissect and understand which is right for your needs.

What if Company A has a higher salary but Company B has a more comprehensive healthcare plan? What if your current job counter offers and puts a raise on the table?

We want to help you make the best decision for your future. So we’ve created this guide to support your offer navigation journey.

💡 Keep reading for the analysis or click here to skip right to our new tool.

What is a compensation package?

Compensation includes more than just salary. Your compensation package includes your salary as well as the benefits, perks, and rewards an organization extends to their team. These different elements can be both monetary and non-monetary– often with great variation from employer to employer.

Monetary Perks Non Monetary Perks
401k match Unlimited PTO
Medical HRA Remote work flexibility
Student loan repayment Growth opportunities
$500 professional development & wellness budget Rec room

At Seer, we offer a breadth of benefits and perks aimed at enabling our team to be their best selves.

As new challenges and roadblocks are identified for our team, new benefits and perks are released to better support them. A few examples::

What’s most critical in your total compensation package is unique to you.

Weighing each element against your values and needs will help you align yourself to what structure suits you best– evaluating each offer through this lens. But again, having a firm grasp on the elements available to you is step one. (Remember: salary is just one piece of the puzzle.)

Why should you consider benefits and perks in your compensation package?

A company’s benefits and perks are invaluable. Not only do they help offset the cost of expensive services like medical insurance, but they also support you as a whole person– both inside and outside of work. Your skills, the time and quality you put into your work is worth more than just a dollar amount. At Seer, we look across the following elements to support our team members holistically:

INVEST IN YOUR FINANCIAL FUTURE

  • Salary Transparency & Total Comp Calculator
  • Profit Sharing: Phantom Equity & Fixed Shares
  • 401K matching (4% match, qualify year 1+)
  • Salary Growth: 4-12% annually
GROW YOUR CAREER AT SEER AND BEYOND

  • $500 Kaizen budget for professional development
  • $3,000 student loan reimbursement
  • ~30% of our team is promoted annually
  • Accessibility to Seer Leadership
BALANCE IN WORK AND IN LIFE

  • Unlimited PTO (avg 3-4 wks), sick, & volunteer time
  • 11 paid holidays & “holiday hours” (12/26-31: 2 hrs/day)
  • 12 weeks paid parental leave, optional phased return
  • and unpaid leave extension (up to 20 wks leave total)
CARE FOR YOU AND YOUR LOVED ONES

  • 70% of medical premiums covered
  • $3,000-$4,500 HRA (Seer funded) for medical expenses
  • $1,000 HRA (Seer funded) for additional health expenses
CELEBRATE YOU, YOUR TEAM, AND COMMUNITY

  • Daily wins, monthly MVPs, & your Seeriversary
  • Rally Day: interactive care box & ½ day for team activity
  • Donation matching, $758K Seer funded #Seergivesback
  • Gifts thanking your parents on Mothers & Father’s Day

What Benefits Are Important

When an employer is approaching you with a job offer, it’s important to know which parts of the full compensation package are most appealing. If all your preferred elements are present and adequate when they make that offer, then you’re in good shape!

But if not, now’s the time to talk about what should be included or taken out for this particular job based on their importance to you personally–that way there won’t be any surprises down the line.

Step #1: Ask Yourself What’s Important to You?

We all have our own life circumstances making different benefits more or less valuable. That is why it’s important to know what healthcare, retirement options, and more your new endeavor offers.

To help you best evaluate the various aspects of your job offer, take the first step to understanding how personal life factors impact various benefit offerings.

For example, team members with kiddos would want to know if healthcare covers dependents and at what rate. Or for the digital nomads, you’d want to ensure you have the freedom to work from where you want.

So take a moment and ask yourself, what are you looking for in a job? If you understand the necessity of having an organization support you holistically, write down your life circumstances and your needs for each.

Example of How to Evaluate Compensation Based on Life Circumstance

“I have two children, one who requires glasses and braces. I have $10,000 left in student loan debt, and I use my home office as a working station. I’d like to find a job that values professional development so I am able to accelerate my career to retire at 50.”

For sample team member, they’ll be interested in learning the following about the potential employers’ compensation package:

  • Does the healthcare plan cover dental and vision for dependents? What’s the cost of copay?
  • Does the company offer tuition reimbursement? If so, how much?
  • Does the company offer assistance in utilities for remote team members?
  • Does the company offer financial assistance for professional development?
  • What does the 401k plan look like? When does someone qualify?

Now that you have an idea, write down the top three and top five factors you’re seeking support from an employer in the next phase of your career.

Step #2: Research

Now that you understand what you value in a compensation package, the second step when evaluating potential jobs should be to do research.

Find a Baseline

Consider what industry-standard pay ranges are in your region and which companies offer benefits you want – tools like Glassdoor make this task easier than ever before!

Take an hour to comb through industry standards on salary and compensation to compare against your offer. Robert Half 2021 Salary Guide for Creative and Marketing jobs is perfect for digital marketers!

GET THE GUIDE

💡 Robert Half also have compensation insights for the following industries: Finance, Administrative, Legal, and Technology.

Step #3: Ask

Benefits vary from plan to plan, and the details matter.

Remember, choosing a new employer is a huge life decision impacting your financial, professional, and personal wellbeing. With that– get all the information you need to make an informed decision. No question is too small, too silly, or not worth the ask. It’s your future– there’s nothing to be shy about.

Take your list of your non-negotiables and ask about each one, so that you can make an educated decision on what could be negotiated in order for them to offer something more appealing specifically tailored around your needs.

Jump to our example questions

💡 To get the most out of our tool, be sure to ask the right questions to evaluate your offers against each other fairly.

Step #4: Leverage our Holistic Compensation tool

As discussed, there are so many different elements to consider when comparing different opportunities. Trying to make an apples to apples comparison on compensation packages can be overwhelming and intimidating– on top of all the other feelings you may be experiencing when considering a big life change.

To help ease the burden, we’ve created a tool to make things a bit easier.

Meet Seer’s Total Compensation Calculator.

This interactive tool empowers job seekers with a robust framework to calculate your total compensation package. The first tab showcases 3 different compensation plans at Seer (hello transparency!) and the second tab provides a framework for any other opportunities you may be exploring.

In one view, you can evaluate Seer, your existing total compensation package, and any other opportunities you may be exploring. There should be no black boxes when understanding your compensation package. This tool helps make that possible.

Jump to the tool

Ask Compensation Details

Asking questions about the finer details of a job offer may feel uncomfortable, but it’s important to get all the information you need to make an informed decision.

The more you know about what a company offers to employees, and how they stack up against other companies in your industry or field of interest; the better off things will be for both parties down the line.

Questions to Ask Prospective Employers

We’ve gathered questions for you to consider in four categories: flexible schedules, financial support, healthcare coverage, and professional development.

Flexible Schedules:

  • How much paid time off is provided for holidays, vacation, and sick days?
  • Do unused vacation days roll over?
  • Are work hours flexible?

Financial Support:

  • What are the retirement benefits?
  • Are employee contributions matched and/or tax deferred?
  • What does the promotion structure look like? Are there annual raises?
  • Is there a profit share program?
  • Is there a tuition reimbursement program?

Healthcare Coverage:

  • How much do employees contribute for individual and family coverage?
  • Is there a health care flexible spending plan?
  • Is there a deductible and what portion of doctor visits is the employee responsible for?
  • Is domestic partner coverage available?
  • Does the employer provide life insurance? How much?

Professional Development:

  • Does the employer reimburse for attendance at conferences and workshops?
  • Does the employer help pay for certifications and courses?

GET DETAILED QUESTIONS

Compare Your Compensation

Our total compensation package has a tremendous impact on the livelihoods of ourselves and our families. Compensation decisions are big, complex decisions that require a great consideration. Use this interactive tool to crunch the numbers at Seer, your current employer, and other opportunities you’re exploring.

Even if Seer doesn’t make your list, we hope this makes your next big decision a bit easier.

How to use it

Discover your Total Compensation at Seer (Sheet 1)

  1. Identify which column best suits you. Columns D-F showcase each of Seer’s benefits packages, depending on your unique circumstance.
  2. Enter your offered salary in Row 5. Watch the dollar signs roll!
  3. Review your total compensation for years 1-3. Review total compensation for year 0-1 in Row 19, Review total compensation for year 1-2 in Row 26, Review total compensation for year 2-3 in Row 33.

Compare Competing Offers (Sheet 2)

  1. Enter your desired / offered Seer salary in cell D5. The following cells in column D will auto-populate with Seer’s total compensation package.
  2. Enter figures from other opportunities in Columns E-G. Don’t have the data? Ask!
  3. Compare total compensation side-by-side in Rows 19, 29, and 39.

Access the tool

Making a Decision

You made it! After all that deliberation– you’ve evaluated your offers, you’ve leveraged our compensation calculator. Now it’s time to make a decision on what job offer to accept and start the next step in your career.

Go ahead and send that email, sign that offer letter, and relish in the change and next move. This is all because of YOU! Congrats on the new gig- we’re proud of ya.

We’re Hiring and We’d Love to Meet You!

Check our our open positions and learn more about Seer Careers.

Apply now


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