What is a Compensation Package?

Answer:
A compensation package includes all of the benefits

that an employee gets from his employer, including a salary or wages. In addition to this monetary compensation, an employee may receive other perks in a compensation package, including stock options, retirement accounts, vacation time, employee discounts, and health insurance.

Job seekers will take the entire compensation package into account when deciding between job offers, not just how much money an employer is offering.

Employers are beginning to offer compensation packages with more varied benefits than before. Some items which are showing up more often in compensation packages are on-site child care, company cell phones, and funds for employees to pursue continuing education.


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