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Decoding Job Offers

Analyzing job offers for recent graduates using case studies to compare high salary with no benefits versus lower salary with benefits. Evaluating the impact of factors such as graduate school costs, savings, and future income.

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Decoding Job Offers

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  1. Decoding Job Offers Oliver Ambrosia Quang Nguyen Charuka Wijesekera Brook Yared

  2. Scenario #1: High Salary • Recent Graduate of Cal Poly Pomona • Age of Graduation: 23 • Job: Mechanical Engineer • Starting Salary: $75,000 • Blue Shield PPO: • No Deductible • $175/month • Term Life, Dental and Vision included

  3. Scenario #2: Lower Salary w/ Benefits • Recent Graduate of Cal Poly Pomona • Age of Graduation: 23 • Job: Electrical Engineer • Starting Salary: $60,000 • Benefit package: • Full Health, Dental, Vision - $14.97/month • 401K matching: 4% of salary (before taxes)

  4. Common Costs • Annual retirement savings (8% of Scenario 1 salary) • Graduate School - $12,524 (Cal Poly Fees) • IEEE - $200 Annual Membership Dues • 3% Annual Inflation • 5% Annual Wage Increase • 10% Annual Health Care Cost Increase • Vacation: 23 Days years 1-5 28 Days years 6-10

  5. 10 Year Salary Comparison

  6. Scenario 1 Cash Flow Diagram

  7. Scenario 2 Cash Flow Diagram

  8. FV Net Income

  9. FV Net Income Excluding Further Education

  10. FV Net Income w/ Increased Saving

  11. Conclusion Scenario 1 – High Salary without Benefits Scenario 2 – Lower Salary with Full Benefits • Initial Comparison favors Scenario 2 • Eliminating Grad School swings advantage to Scenario 1 • Increased Savings Favors Scenario 2

  12. References • EHealthInsurance.com • Tetra Tech - New HR Practices • Aerospace Corporation - Employee Benefits • Motorola - Employee Benefits Package • Raytheon - Employee Benefits Package • Fluor - Employee Benefits Package

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