US hiring is booming – 528,000 jobs were added in July, up from 398,000 in June, according to the Bureau of Labor Statistics. Job hunting is a balancing act: some people want shorter commutes or higher salaries, others want health insurance or flexible schedules, and some want to work in a new field. Most workers look elsewhere because wages don’t rise as quickly as prices.
According to Jill Gonzalez, a financial analyst at WalletHub, compensation, job location, and work environment are essential factors to consider when seeking a new position. You should think about these two things before looking for a job:
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Salary
Depending on your industry, how you calculate your income is important. Justin Taylor, a Minneapolis restaurant worker, is concerned not only with his hourly wage, but also with tips. In his new job at a local restaurant, Taylor earned $20 per hour instead of $15 per hour at Chipotle.
At his current job, tips from customers significantly increase his take-home pay, compared to his previous job. Transparency is rare in pay conversations. The US Bureau of Labor Statistics offers a list of average wages and salaries for most industries if you’re not sure what yours might be.
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Commute
A job with a higher hourly rate but a longer commute might not be much of a pay raise after factoring in gas or public transportation costs. It was just a matter of saving money on transportation. He commutes on his electric scooter for less than 10 minutes now instead of 30 minutes on public transport.
Taylor also sold his truck because gasoline prices rose compared to a year ago. The American Automobile Association reports that in March, 64 percent of US adults changed their driving habits. Check whether your potential new employer offers pre-tax benefits if you use public transportation or pay for parking.