10 Factors to consider when selecting a job

December 5, 2018 Pete the Planner

Articles for Pete the Planner

Income is just one factor to consider when deciding what job is right for you. Ignoring the “other” factors will often result in leaving a job after just a couple years. Money isn’t everything, but your ability to manage household finances may allow you to take a lower-paying job.

10 factors to consider when selecting a job:

  1. Base income: but you need to think bigger.
  2. Additional compensation: will your potential new job allow you to earn commissions, bonuses or overtime?
  3. Income growth potential: be sure to think long term.
  4. Health insurance benefits: don’t take a job unless you have fully investigated the insurance benefits that come with it.
  5. Retirement options: does your new job have a retirement plan? If so, does the company add money to the plan for you? Will you have a pension or defined benefit plan?
  6. Equity options: does your potential employer offer stock options?
  7. Professional development: some employers truly see the value in developing talent within by pushing their employees to be more.
  8. Distance from home: the cost of a commute can be substantial.
  9. Time commitment: consider how flexible your hours are when you select a new job.
  10. The people factor: you need to consider the people who you will work closely with.

Choosing your next job will affect your job satisfaction and your ability to manage your household finances. Use these ten factors to evaluate your next potential job to assist you in making a sound decision. For a more in-depth look at these factors, you can view the Pete the Planner Guide on Selecting the Right Job


Developing Your Investment Strategy
Questions to Ask Before Taking a Loan from Your Retirement Account
Pete the Planner: Setting Financial Goals