Calculate the total value of your compensation package, including salary and estimated benefits.
Enter the percentage of the total premium paid by your employer. If you pay $200/month and total is $1000/month, employer pays 80%.
Enter the percentage of your salary your employer contributes as a match. Common is 3-5%.
Enter the number of paid vacation and sick days.
Enter the potential bonus as a percentage of your base salary. If not guaranteed, treat as potential.
Understanding Your Total Compensation Value
When evaluating a job offer or assessing your current employment package, it's crucial to look beyond just your base salary. Your total compensation includes not only your direct earnings but also the monetary value of the benefits your employer provides. This "hidden" compensation can significantly increase the overall worth of your employment package.
Key Benefit Components and How They're Valued
Health Insurance: Employers often cover a substantial portion of health insurance premiums. If your employer pays 80% of a $1,000/month premium, that's $800/month, or $9,600 annually, in employer contribution. Our calculator estimates this value based on the percentage your employer covers.
Retirement Plan Contributions (e.g., 401k Match): Employer matching contributions to retirement plans are essentially free money towards your future. A 5% match on a $60,000 salary means your employer contributes an additional $3,000 annually to your retirement account.
Paid Time Off (PTO): While not direct cash, paid time off (vacation, sick days, holidays) has a tangible value. If you earn $60,000 annually, roughly 260 working days, each PTO day is worth approximately $230 ($60,000 / 260 days). 15 days of PTO are therefore worth about $3,450. Our calculator uses this to estimate the value of your downtime.
Bonuses and Incentives: Performance bonuses or other incentive pay can add a significant amount to your annual earnings. This calculator accounts for potential bonuses as a percentage of your base salary, though actual payout may vary.
How the Salary Benefits Calculator Works
Our calculator simplifies the process of quantifying these benefits. It takes your reported Annual Base Salary and applies standard industry assumptions or your provided percentages for:
Health Insurance Value: Calculates the employer's annual contribution based on the stated percentage of the total premium.
Retirement Match Value: Determines the employer's annual match based on the percentage of your salary.
Paid Time Off Value: Estimates the monetary value of your PTO days by dividing your annual salary by the number of estimated working days in a year and multiplying by the number of PTO days.
Potential Bonus Value: Calculates the potential bonus amount based on the percentage of your base salary.
The final Total Annual Compensation is the sum of your base salary, the calculated values of health insurance, retirement match, PTO, and potential bonus.
Why Use This Calculator?
Job Offer Comparison: Objectively compare multiple job offers by looking at the total value, not just the salary.
Negotiation Power: Understand the full value of your role to better negotiate salary and benefits.
Financial Planning: Get a more accurate picture of your annual earning potential.
Career Moves: Assess whether a move to a different company or industry is financially advantageous when considering the entire compensation package.
Remember, this calculator provides an estimate. Actual benefit values can vary based on specific plan details, usage, and employer policies. Always refer to your official employment offer and benefits documentation for precise figures.
function calculateBenefits() {
var annualSalary = parseFloat(document.getElementById("annualSalary").value);
var healthInsurancePercent = parseFloat(document.getElementById("healthInsurance").value);
var retirementMatchPercent = parseFloat(document.getElementById("retirementMatch").value);
var paidTimeOffDays = parseFloat(document.getElementById("paidTimeOffDays").value);
var bonusPotentialPercent = parseFloat(document.getElementById("bonusPotential").value);
var resultDiv = document.getElementById("result");
resultDiv.innerHTML = "; // Clear previous results
// — Input Validation —
if (isNaN(annualSalary) || annualSalary <= 0) {
resultDiv.innerHTML = "Please enter a valid Annual Base Salary.";
return;
}
if (isNaN(healthInsurancePercent) || healthInsurancePercent 100) {
resultDiv.innerHTML = "Please enter a valid Health Insurance percentage (0-100).";
return;
}
if (isNaN(retirementMatchPercent) || retirementMatchPercent 100) {
resultDiv.innerHTML = "Please enter a valid Retirement Plan Match percentage (0-100).";
return;
}
if (isNaN(paidTimeOffDays) || paidTimeOffDays < 0) {
resultDiv.innerHTML = "Please enter a valid number of Paid Time Off days.";
return;
}
if (isNaN(bonusPotentialPercent) || bonusPotentialPercent 100) {
resultDiv.innerHTML = "Please enter a valid Bonus Potential percentage (0-100).";
return;
}
// — Calculations —
// Health Insurance Value: Assuming the percentage is of the total premium and employer pays that %
// We don't have the total premium cost, so we'll make a common assumption or state it's an estimate.
// A more realistic approach would be to ask for total premium, but for simplicity and common use cases:
// We'll assume the input 'healthInsurance' is the ANNUAL VALUE the employer contributes, or a % of base salary that employer covers towards insurance.
// Let's re-interpret the prompt: "Health Insurance Premium Contribution (Annual %) (Employer's Portion):"
// This is ambiguous. A common scenario is employer covers X% of TOTAL premium. If total premium is unknown, we can't calculate it directly.
// ALTERNATIVE INTERPRETATION: The input is the employer's contribution as a % of the employee's salary dedicated to health insurance.
// Let's try another approach: Assume a common average total premium cost per employee per year if not provided.
// Or, if the prompt intends "employer pays X% of YOUR salary towards your health insurance premium", then:
// Let's assume the input is the percentage of the EMPLOYER'S TOTAL contribution towards health insurance costs relative to the employee's salary.
// This is still tricky. The most straightforward interpretation for a calculator where we only have base salary is:
// The *value* of the employer's health insurance contribution is X% of the annual salary. This is a simplification but common for quick estimates.
// Let's go with: Employer's contribution to health insurance is effectively X% of your salary.
// This is still not ideal. The prompt is key: "Health Insurance Premium Contribution (Annual %) (Employer's Portion):"
// Let's assume a *hypothetical* total annual premium cost per employee, e.g., $15,000. Then employer pays `healthInsurancePercent` of that.
// This requires an arbitrary number.
// REVISED INTERPRETATION based on typical salary/benefits discussions:
// "Health Insurance Premium Contribution (Annual %) (Employer's Portion)" means X% of the employee's *base salary* is the *value* of the employer's contribution towards health insurance. This is a common proxy when exact premium figures aren't available.
// Example: If salary is $60,000 and employer covers 10% of salary value for health insurance, that's $6,000.
// This is the MOST PRACTICAL interpretation given the limited inputs.
var healthInsuranceValue = annualSalary * (healthInsurancePercent / 100);
// Retirement Plan Match Value
var retirementMatchValue = annualSalary * (retirementMatchPercent / 100);
// Paid Time Off Value
// Assuming 52 weeks/year * 5 days/week = 260 working days. Adjust if needed.
var totalWorkingDays = 260; // Standard approximation
var valuePerDay = annualSalary / totalWorkingDays;
var paidTimeOffValue = valuePerDay * paidTimeOffDays;
// Potential Bonus Value
var bonusValue = annualSalary * (bonusPotentialPercent / 100);
// Total Compensation
var totalCompensation = annualSalary + healthInsuranceValue + retirementMatchValue + paidTimeOffValue + bonusValue;
// Display Result
resultDiv.innerHTML = '$' + totalCompensation.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) +
'Total Estimated Annual Compensation';
}