Entering the job market is exciting, but it’s crucial to make smart decisions about what type of compensation you’re offered to ensure you’re being paid your worth from the get-go.
So, how do you make educated compensation decisions?
The first step is to make sure you’re informed. While everyone knows that putting in work at a company equals a paycheck, compensation can actually be broken down into even more segments. This is important to understand in order to comprehend your different compensation options.
Let’s break it down. Compensation for employees at private companies can be made up of one or more of the following:
- Base Salary – the fixed amount of money paid by your employer.
- Actual Bonus – the most recent bonus you were paid.
- Total Cash – can either be a mix of base salary and bonus, or just base salary if no bonus is given. Not all companies have a bonus program.
- Target Bonus – the projected bonus for the coming year should key goals and objectives be met.
- Equity – a non-cash payment in a private company that represents a percentage of ownership.
Now that you have a concrete understanding of basic compensation instruments, the next question is simple: how do you determine if you’re being paid fairly?
While the question is straightforward, many facets need to be taken into consideration including the specific industry, job position, your experience, location, and so much more. It can be a daunting task to try and comb through all of this information. But it doesn’t have to be…
Complander is a free salary assessment tool for entry level up to director level individuals at private companies and investment firms. No more wondering if you should be asking for a higher salary, what bonus is competitive and the amount of equity or carried interest for your role. With custom and verified data tables, making informed decisions about your compensation and career has never been easier.
In less than 5 minutes, you can:
- Evaluate a new job offer
- Discover what you should be getting at your current job and if it is in line with market
- Compare location & industry specific salaries
Now, for the first time, employees have access to the same private company and investment firm compensation data that’s previously only been available to their employers. Complander is your one stop shop to evaluate and understand your compensation. #ItPaystoKnow
Use promo code “AFTERCOLLEGE20” for 20% off your verified and custom data tables today.
Let us know what you think of the Complander report by emailing us at care (at) aftercollege (dot) com.
AfterCollege does not assume responsibility for the services provided by Complander, an independent service provider.