Taking a job just because of a fat paycheque is tempting, but did you know 20% of total compensation goes beyond your salary? Most Canadians still change jobs in search of higher pay, but a growing number of workers are now prioritizing perks like health coverage, vacation time, and work flexibility: over half of people aged 25 to 34 say they are willing to switch jobs for better mental health support. You might think people opting for lower pay are suckers, but high salaries don’t always equate to better overall compensation. For example, losing a week of vacation is like working an extra week for free. Ultimately it’s up to your priorities — higher pay will give you more immediate purchasing power, but other benefits can improve your lifestyle or wellbeing. Regardless, don’t skimp on negotiating benefits on top of salary, and prioritize what’s most important to you at the time — for some that’s a group RRSP matching program, for others it’s a paid gym membership.
