What is total compensation?

• Bonuses

• Commissions

• Paid vacation

• Paid sick leave

• Paid holidays

• Stock options

• Insurance plans (medical, dental, disability, life)

• Retirement plans

• Child Care assistance

• Tuition assistance

• Gym memberships

When employers provide additional benefits to a worker's base salary these are reflected in total compensation statements that detail the total amount paid to the worker.

Many companies use total compensation statements to keep their employees for the long term. These can help workers feel valued and appreciated when they see the total amount of money that is actually associated with their position.

Job seekers also benefit from comparing total compensation packages, rather than just comparing one job's base salary with another's. This can better inform their decision as to which company would provide them with a more stable lifestyle and income.