The "Whole Package" vs "The Salary"

By Kevin Enriquez, Campus Representative, Drexel University

According to a study by the National Association of Colleges and Employers, which tracks recruitment data, there is a 1.7% decline in the salaries offered for entry-level positions when compared with this time last year.

An article in Forbes about the study reads......

The Class of 2010 can expect an average offer of $47,673, compared with $48,515 in 2009. With that said don't expect a nice lump sum salary but focus on the opportunity. The "best" jobs for graduates will not pay the most at first but will offer a rewarding chance of promotion and benefits. Such companies may offer key training experiences or even pay for graduate school.

Denise Appleby, a consultant, wrote an article about the topic:

When looking for a job, people often focus on finding the job that pays the most. But, unless the difference in pay is significant, more pay does not always determine the best job offer. When considering a job offer, it is important to consider the entire package; this includes salary, medical and dental benefits, insurance coverage and the retirement plans under which an employee would be covered.

This is what I tell every friend and colleague I run into: Don't expect a huge salary, consider the benefits of companies that offer a great retirement plan, health insurance, paid lunches and my favorite benefit, some companies will reimburse a percentage of graduate school. In the long-run this pay out more than an increase in your base salary.