Covering Moving Costs
If a company needs a specialist who does not live in the area, it may offer him or her a generous relocation package. As part of such a package, the company may pay for you and your spouse to make a reconnaissance visit so that you can get to know the workplace and the area. If you decide to accept the job offer, you may have a second trip paid for to look for an apartment or house (a house-hunting trip). Again, the company will pay for the flight, hotel, car rental and meals.
Next, the employer will hire a moving company that will pack your belongings, transport them and unpack them at the new location. The employer will provide you with assistance in selling your home and buying another in the new location, as well as temporary housing for up to a month. Generous companies spend as much as a hundred thousand dollars to relocate an employee they really want.
Health Insurance and Savings Accounts
The most pressing issue is often health insurance for you and your family.
High health care costs can wipe out the raise from a new job, so make sure you will have solid health insurance there. Take into account all out-of-pocket costs, including deductibles and co-payments. Also check the size and quality of the network of medical providers to avoid inconvenience and high bills.
Your future employer may also offer health-related savings accounts that help you cover out-of-pocket expenses tax-free. Examples are Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA). Some employers contribute to these accounts.
Retirement Plans
Tax-advantaged retirement plans are an important employee benefit because they help you plan for the future. A popular example is the traditional 401(k) plan, which lets you make contributions, deduct them from your income and defer taxes on the earnings until you retire. The annual contribution limit is generous – $24,500 for 2026, with an additional catch-up contribution of $8,000 for people who have turned 50 (and for people aged 60–63 – $11,250).
Find out whether your prospective employer matches 401(k) contributions, because that is free money. For example, a company may contribute a dollar for every dollar you put into your 401(k), up to a certain percentage of your annual salary.
The best are traditional pension plans, which provide benefits in retirement equal to a set portion of your earnings. Unfortunately, they are very expensive for employers, so they are being phased out and have survived only at large companies, mostly those that employ unionized workers.
Paid Time Off
The amount of Paid Time Off (PTO) at a new job is important because it allows you to balance family and work responsibilities, and also provides continued income during periods when you are not working. Besides paid vacation and sick days, it may include time off for family reasons, bereavement or jury duty.
Find out how many days you will get for various purposes, what system the company uses to accrue vacation time and whether you can carry over unused hours to the next year. It is also worth knowing whether, and how many days, you can work remotely from home.
Bonuses and Incentives
Your company may offer a one-time bonus for new employees, a so-called sign-up bonus, fixed commissions or periodic bonuses that depend on reaching certain goals. Be sure to consider the bonus rates and how often they are paid, so that you know how they will affect your total compensation.
Other financial incentives often include stock options, which let you buy company stock at a discounted price. Although options can be profitable, they carry risk and come with a vesting schedule, so it is worth learning how they work and assessing the company’s future. Stock options at successful tech companies have turned even ordinary employees into multimillionaires.
Educational Assistance
If you are interested in earning a degree or taking professional courses, you can save thousands of dollars a year if your employer reimburses you for, or directly covers, part or all of the tuition. Check your company’s rules, because there may be restrictions, such as paying only for courses/degrees that match the company’s needs or your current position.
Some companies also offer scholarship programs for employees’ children.
If you are paying off a student loan, be aware that some employers help with repayment.
Life and Disability Insurance
You can save money and have peace of mind when your employer provides free disability insurance and life insurance. Disability insurance will replace part of your income if a covered event leaves you temporarily unable to work. Life insurance, usually based on your salary, is paid to your family if you die while employed.
If your new job offers these benefits, read the fine print to find out how these policies work and what their limitations are.
Location
If the cost of living in the new place is lower than where you live now, changing jobs and moving will be more advantageous than the raise in pay and employee benefits alone would suggest.
Also take into account the length of your commute to the new job, the quality of schools for your children, job opportunities for your spouse, access to nature and local attractions – everything that makes up your quality of life.
Good luck!
Elżbieta Baumgartner
Updated October 2026.
