Factors Working Moms Should Consider When Evaluating a Salary Package

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Factors Working Moms Should Consider When Evaluating a Salary Package

Embarking on a job search journey can be both exhilarating and daunting. Amidst the myriad of options and considerations, it's crucial to start with a clear understanding of what you truly want from your new job. One aspect that often doesn't receive the full consideration it deserves is the salary package.

In South Africa, we refer to the salary package as the total reward package or benefits offered. It encompasses various elements such as bonuses, incentives, medical aid contributions, and retirement plans. Additionally, the total reward package includes non-monetary benefits like leave, flexible work policies, and childcare support. It's a comprehensive set of benefits that can positively impact your work-life integration.

Define Your Personal Needs and Wants

Knowing precisely what you need and want from a potential employer can streamline your job search process. By focusing on roles that align with your priorities, you can:

  • Avoid disappointment: By narrowing your applications to jobs that meet your criteria, you reduce the risk of unnecessary rejections.
  • Increase Job Success: Putting your efforts into roles that genuinely resonate with you can increase your chances of success during the application process.
  • Save Time: By pursuing opportunities that are the right fit, you save valuable time and energy, preventing a prolonged job search process.

Monetary Considerations

According to the Working Women in SA Report, salary is the number one factor that makes a job appealing. However, a salary should not be taken at face value. Beyond the initial allure of salary figures, it's vital to delve deeper into what a potential employer offers. It's crucial to consider the opportunity costs beyond just the salary.

READ: How To Confidently Answer “What Are Your Salary Expectations?”

As a working mom, factors like commute time, time with family, and potential relocation can profoundly impact your daily life and well-being. Assessing these costs will help you make informed decisions aligned with your priorities:

  • Fuel and travel time: long commutes can consume both time and resources. Consider the cost of transportation and how it may affect your work-life balance. Time in traffic is stressful and can negatively impact your overall well-being. 
  • Time with family: balancing work commitments with family responsibilities is paramount. Evaluate how a job will impact your time with your loved ones. 
  • Relocation: If relocation is on the table, weigh the potential challenges and opportunities associated with moving to a new location. Consider the impact on your family's lifestyle and well-being.
  • Medical Aid Contribution: How will the new job's policy impact your existing medical setup? Is it an essential perk that will help your family?
  • Additional Childcare Costs: Working might incur aftercare or child transport costs, which can be an unforeseen opportunity cost.
  • Pension and provident funds: Some companies do not give employees an option to be excluded from the company pension or provident fund. Factor in the reduced income of the contribution you make. Remember, this is forced saving, which is a good thing. 

 

Beyond Salary: Evaluating Non-Monetary Benefits

While salary is undoubtedly important, don't overlook the value of non-monetary benefits. Consider positive benefits such as flexible work hours, remote work options, and career development opportunities. These factors can significantly impact your job satisfaction and overall well-being.

 

As you navigate your job search journey as a working mom, take the time to define what you want from your next job. Beyond the allure of a paycheck, consider the holistic benefits and opportunities each job offers. By aligning your choices with your values and aspirations, you can pave the way for a fulfilling and rewarding career journey that balances your professional ambitions with your role as a mom.

When engaging with a recruitment manager at RecruitMyMom, be honest about what is important to you. We are all moms and understand your juggle is real. The fit between you and an employer is essential to our ability to deliver good service. Complete a job-seeker profile on RecruitMyMom. If you select yes to receive communications from us, we will send you job alerts for new jobs.