In theory, choosing a new job should be easy.

All you should need to do is to think about the nature of the job and whether you want to do it, plus the salary level and then make your decision accordingly.

In practice, of course, it is sometimes rather more difficult than that.

For a start, we may sometimes not always find it easy to get a particularly clear view of the roles and responsibilities that come along with a job.  Theoretically again, these should be clarified as part of any formal job offer but ambiguity and vagueness in a job descriptions is far from unknown.

Remember that your job and role descriptions typically form a fundamental part of your contract of employment.  You would be well advised to make sure that you understand them thoroughly before you accept any position.

Sometimes, you may receive what is termed a remuneration package offer rather than simply a single stand-alone salary.  Essentially that simply means that you will receive a salary plus a range of other benefits.  Your employer may apply a notional total package valuation to your salary plus benefits.

This may, at times, make it a little difficult to understand exactly how much such a package is worth. The difficulty sometimes arises because your potential employer may, understandably, place a much higher and more positive interpretation on the value of the package than an independent assessor may do.

Of course, the value of the package components should not be underestimated either.  These benefits may be considerable and potentially include things such as private healthcare, group insurance schemes, sickness benefits, subsidised dining facilities and so on.

When you are looking at your package benefits and trying to value them, remember to make an allowance for the fact that many of these additional benefits may be treated by HMRC as taxable benefits in kind.  In other words, you will be taxed on them!

Your potential employer may be able to offer some of these benefits because they have arrangements with providers of a group insurance schemes.  You may be able to get an idea of how these schemes work, in terms of the relationship between the insurance provider and employer, by looking at the sites of such insurance organisations such as that of Drewberry group insurance, though there are others.

So, you may need to do a little mathematics before you’ll be able to say for certain, which job offer is actually worth the most to you!

Comments are closed.