Answer : Benefits are designed to add extra value to the compensation package of
ID: 372947 • Letter: A
Question
Answer: Benefits are designed to add extra value to the compensation package of the individuals. Yes I will trade benefits for a higher salary if the difference between both is significantly higher. At times the benefits offered have lower monetary value and getting a higher pay yields extra money even when such benefits are purchased by the employee from his salary. Like forgoing a cafeteria benefit is feasible when the payment far exceeds the benefits it offers in terms of money. I will not like to give up the benefits like the retirement plan and health insurance if by the salary offered I am not able to make provisions for these. These benefits are important as they will directly impact on my current and future lifestyles.
Explanation / Answer
Would you trade benefits for higher pay? If so, how much more would you have to make? If not, which benefit(s) would you have to keep and why? Provide an explanation for your response. Support your response with an APA cited reference(s).