I’ve been extremely motivated to increase my salary and have been all over the job market the past couple of months. I found a position at a new company that is an amazing fit for me, plus it would have been approximately a 34% raise. I asked the recruiter for the employee handbook and discovered my health insurance costs would increase about 112% from $163.72 per pay period to $347.35 per pay period (both figures include myself + spouse + child). This increase in costs would have in fact eaten about half of my raise. I’ve decided to decline the offer and I am instead in the middle of the interview process for a management position at my current company. At most, the pay increase will be 25%. However, the cost of my benefits won’t change and I’ll get to pocket the entire amount of the raise. Just something to think about. In the event you’re leaving your job to take a higher salary, ask to see the employee handbook and cost of benefits before you become too invested.
Edit: It was brought to my attention that I don’t know basic math, but it’s been fixed. It was also pointed out to me that you should compare not just premiums, but also co-pays and deductibles. Also don’t forget all the other benefits I didn’t mention such as 401k matching!