Other monetary benefits of work

Aside from getting a regular paycheck, there are several other benefits some jobs offer their employees.  It would be nice to look at your company’s benefit’s packages that are available that you might find useful. Here are a few examples. 

1. Direct Deposit- This may not seem like a big deal to many, but it’s a relief to know that your money is available in your checking account on the day you get paid. You can schedule payment of your bills readily and avoid late payment charges that adds up over time.

2. A 401k or 403b retirement fund- This benefit allows you to invest in your retirement fund and your company matches some of your investments.

3. Option to buy company stock- In addition to having the opportunity to invest in funds or stocks when you’re enrolled in a retirement plan, you can also purchase stocks of your company which makes you a shareholder. This means that when the company does good, you make money too.

4. Pension- This is also a type of monetary benefit some companies provide their employees upon retirement. They get a monthly stipend of a particular amount depending on the length of their service with the company.

5. Medical/ Dental and Vision Insurance- Insurance costs are pricey and many people can’t afford them on their own even if they work for themselves. People nowadays just work to receive insurance through their company. It lessens the burden of having to pay for thousands of dollars out of pocket when you need medical help.

6. A Cafeteria Plan- This is a benefit that allows for you be reimbursed for a portion of your medical expenses throughout the year. Most of the time, you get at least the tax portion reimbursed back to you.

7. Tuition Aid- Some companies pay for their employees to go to school for a job related degree. Each company and benefit have their yearly cap and maximum cap. They is also a list of contracted schools that participate in their programs. Even if the Tuition aid may have a cap and may not completely pay for your education, it gets your started in accomplishing your educational goals.

8. Scholarships- These scholarships are for the children of employees. Some are even up to $2500 per child. All they have to do is write an essay and they can qualify to receive free money for school, how easy if that?

9. Discounts or freebies on your company products and services- It may be a 20% employee discount for purchases or subscriptions to company owned products. Or it may be free upgrades that you would otherwise be charged if you don’ work for that company.

10. Discounts or specials from company affiliates- Some businesses provide valuable discounts if you present your ID from a affiliated company. Examples of some businesses that are represented are local gyms, car dealerships, local stores and restaurants, etc.

11. Job Referral Bonuses- Bigger companies offer incentives for their employees to refer friends and relatives to work for them. Many times, they wait for the referred employee to at least make it to 3 months of working before offering compensation to the referring employee.

12. Priority on Job Openings- Being already in the company allows you to know immediately know what job positions are available. You can take advantage of such opportunity to find a position that might work for you better in regards to schedule or salary.

13. Bonuses and perks- Some company perks include company laptops, cars, cellphones etc. Bonuses may be monetary or gifts ranging from gift cards to fancy trips. In any case, it’s nice to receive bonuses and perks just for doing a great job.
14. Onsite facilities- There are useful onsite facilities that available on some businesses. They may be a nice gym that employees can work out at before or after work. It may be a recreation area that employees can watch tv or relax during their break. Or it may even be a onsite daycare center for employees with little ones.

So if you’re looking for a job, or already have one, look at what benefits they provide. You may be surprised. They may have something that can benefit you and save you lots of money in the long run.

~kristine munda