Why Employee Benefits Are Important

Benefits are important at any stage of your career.

Benefits are valuable

The value of benefits— including medical insurance, paid time off, short-term disability and other benefits— often make up about 30 percent of total compensation. Buying private medical insurance is almost always more expensive than a company plan.

Benefits can help you negotiate a job offer

Understanding the benefits included in a job offer helps you figure out the dollar value of that job. Benefits are being increasingly used by employers as an incentive for employee recruitment and retention. Therefore, knowing the standard benefits offered by companies in your field can give you a competitive edge during negotiations.

Think you don't need them?

When you're young and healthy, you may think you don't need health care or other benefits. But having no health insurance is a big risk. A small accident or illness can result in huge medical bills. Or you may go without insurance, which is very risky.