The job name may be the same, the salary may be the same, so what else should you consider when selecting an employer?

You like the job scope and you would like to work there having considered the work culture and work-life balance.

There are still other considerations to analyse besides the salary, as the total compensation package comprises of many other benefits too.

Bear in mind that not all companies offer every item in this list while some may even offer unique options too.

1. Insurance or medical coverage

Check if your employer offers the following options, how much is covered, and if your dependents are covered.

Medical insurance for outpatient and inpatient (hospitalised) treatment.

Maternity package and insurance coverage.

Vision/optical coverage

Dental coverage

Personal accident insurance coverage

2. Holidays and leave

Malaysia observes many public holidays, however, not all private companies observe every one of them. It would be good to know which ones your prospective employer observes.

Leave is time off which is different from holidays. Find out how many days are allowed for each type:

Annual Leave

Maternity Leave

Paternity Leave

Compassionate Leave

Sick Leave

Hospitalisation Leave

3. Overtime

If there is no mention about overtime pay in your offer letter, do ask HR about it.

4. Bonus

The bonus amount may be the same given to each employee or it may be awarded based on your work performance or the company’s annual performance.

5. Performance recognition rewards

Understand what actions are rewarded and what forms these rewards take:

High performance over a period of time.

Doing something exceptional that is aligned with company values and priorities.

Various forms of good behaviour.

Long-term employment.

Referring a good candidate for employment.

Some rewards are monetary while others are more for bragging rights. Get to know what your employer offers and decide how well this compares with what other employers offer.

One coveted reward is your employer awarding you company shares which are vested over a period of time provided you are still a legal employee of the company.

These are generally given to high-performing individuals that the employer does not want to see leave the company in the near future.

6. Employee stock purchase

Chances are you chose to work for this employer because you know the company is performing well.

Wouldn’t you love to buy some shares knowing that they are likely to go up?

There are several variations to how this works, ranging from an outright discount to buying shares at the cheapest point in a pre-set window of time.

7. Allowances

Allowances are additional payment due to specific reasons:

Mobile phone allowance.

Travel allowance.

Parking allowance.

8. Professional certification

Enriching your skills can be vastly improved with professional training and certification that may be difficult to obtain or be extremely costly. Learn what options your employer offers and how much of the fees they cover.

9. Tuition assistance

Does your employer offers academic tuition assistance? This may come with many strings attached since it is generally a hefty sum your employer is investing in your growth.

10. Work remotely

Does your employer offers flexibility to work remotely from home? This is beneficial when you’re required to be physically elsewhere for personal matters. This option is likely to be granted after you have gained your employers’ trust.

Conclusion

The list of benefits employers offer on top of your salary doesn’t just stop at these 10. However, no matter how many there are or what they are, do make the effort to get to know them and those of alternative employers so you can make a better decision when choosing a financially-rewarding career.

This article first appeared in MyPF. Follow MyPF to simplify and grow your personal finances on Facebook and Instagram.