Video Tip: Total Compensation | February 2021-Total Compensation

Video Transcription

Video Summary

Total compensation refers to the overall value of an employee's remuneration, including both monetary compensation (salary, incentives) and the monetary worth of benefits and perks. These benefits can range from retirement contributions and healthcare coverage to generous vacation policies and tuition benefits. When comparing job offers, it is crucial to consider the details of the total compensation package and not just focus on base pay and productivity incentives, as the added perks can significantly enhance the overall value of the compensation. This ensures a fair and accurate comparison, preventing undervaluation of potentially generous packages. No credits were mentioned in the transcript.

Keywords

Total compensation

employee remuneration

monetary compensation

benefits and perks

job offers