Total compensation statements

I’m not sure if other employers do this, but mine issues total compensation statements annually to highlight my total compensation. This includes my pay for time worked, my paid time off (PTO), and all my benefits listed as a dollar value, including what I contribute toward my benefits out my checks (pre-tax) and what my employer contributes.

It’s a really cool way of thinking about what I make. I try not to let my salary define me, but I feel somewhat validated by what I get paid. I know my annual salary, and I think it’s quite generous for my position. I did not expect to get such a wonderful job straight out of graduate school, so I am grateful not only for the job, but that it exceeded my salary expectations significantly. I went into graduate school knowing that I’d have to make a specific dollar amount per hour post graduation to pay off my loans, and I got it and then some.

With all of the benefits listed, my total compensation is actually about $10K more than my annual salary. This is kind of incredible to see on paper, and I really appreciate it. I’m sure someone could determine these numbers for themselves by looking at their benefits packages and pay stubs, but it’s nice to have it all laid out.

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2 thoughts on “Total compensation statements

  1. That’s a really cool idea! It seems like more companies should do that to highlight the full benefits they provide employees. It’s easy to forget about these extras (e.g., retirement contributions, insurance, etc.) but, as you note, they are extremely helpful and important! Thanks for the reminder. πŸ™‚

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