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Decoding Job Offers

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

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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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