Canadian Finance Blog

Perks or Pay? What Makes a Job Worth It?

Posted: 06 Feb 2012 02:00 AM PST

When times are tough, many people express gratitude just to have a job. However, when you have time to think about your job, and when times are a little less tense, you have a little more leeway in terms of your ability to do the job you want. And, as a result, you can decide what is more important to you: Perks or pay.

Pay vs. Perks

For some workers, money isn’t everything. You might have, in the past, done a job that, no matter how much you were paid, it didn’t seem worth it to do the job. Additionally, there are times when non-salary perks are better than having extra pay. Some of the perks that can really make a company good to work for include:

Inexpensive on-site childcare
Gym membership, or on-site gym or fitness room
Excellent health beneftis
Flexible personal time off (paid or unpaid)
Flexible work hours
Coupons and promotions
Food and snacks available
Pleasant work environment
Ability to telecommute at least a couple days a week

A company might offer any number of perks in addition to regular pay. In some cases, the perks offered by one employer might outweigh better offers of payment from another potential employer.

There are some instances in which an employee might even be willing to forgo some payment for flexibility in a schedule, or for extra days of unpaid leave. Perks like good food in the cafeteria and on-site childcare might also be desirable. There are a number of reasons that you might be willing to accept a little less pay — especially if it benefits your life in some other way.

Money Isn’t Everything

While it’s true that money is necessary to buy the necessities — and some of the comforts — of life, it isn’t everything. You might value more time with your family, or you might want better benefits. The flexibility to choose certain hours, or telecommute on some days, can be worth more than extra money. Indeed, there are those who won’t work overtime, even though it means more pay, because they would rather spend the time in other pursuits.

Consider your situation, and whether or not you might be happier with better perks. There are companies that offer good work environments, as well as opportunities for you to gain recognition for your hard work, without paying huge salaries. You can earn enough money for your needs, and some of your wants, and enjoy the perks that come with your job. In many cases, that can mean an improved quality of life.

Earning a lot of money can provide you with luxuries. However, if you spend a lot of time working, and you don’t have time to do what you enjoy, it affects your quality of life. Additionally, you might not be happy with your job. If you don’t enjoy where you work, what you do and your co-workers, it becomes tedious to go to work. If you can choose a job with perks that increase your quality of life, pay may not be as important. Consider your options, and evaluate your priorities and preferences. Decide what works for you, and whether a job with more perks might be right for you.

Perks or Pay? What Makes a Job Worth It? originally appeared on Canadian Finance Blog on February 6, 2012.

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