Would you trade benefits for higher pay? If so, how much more would you have to make? If not, whichbenefits would you have to keep and why? Provide an explanation for your response. Support yourresponse with an APA cited references.Often times, people try to find the job that has the highest pay/salary. When comparing jobs and theirsalary, if the difference is not significant, benefits become a crucial factor (Appleby, 2021). Personally, Iwould trade higher pay for better benefits, especially if the pay is not significant. I also believe thatcircumstance is very applicable in this situation. Meaning that, if I was 26 years and under the answerwould be yes to trading benefits for higher pay. If I was older than 26 than I probably would not tradebenefits for higher pay. For instance, individuals can stay on their parent’s insurance until the age of sothey are not using that benefit. The benefit of insurance that the individual would be forgoing would bebetter as an addition to pay monetarily. A lot of employees will continue with positions that pay less ifthey receive ample benefits, such as unlimited PTO.If it comes down to a job with benefits versus a jobwith no benefits, it is usually best to take the job with benefits, which millions of American workershave chosen (Appleby, 2021). Furthermore, a retirement plan program is an integral part of anemployee compensation packagethat it might be worth considering over higher pay. Besides thebenefit of a retirement account being funded with pretax dollars, some employers offermatchingcontributions. This is where employer is matching the amount the employee contributes up to a certainpercentage. Any matching contributions, profit-sharingcontributions, and the income tax savingsthrough salary deferral should definitely be considered when comparingjob offers and deciding onwhether to trade benefits for higher pay or not (Appleby, 2021). In essence, there are tradeoffsbetween higher pay and significant benefits that depend on the individual and their currentcircumstance.References
