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For many graduates, salary is one of the most important factors when considering career options.
After the long years of being an impoverished student, it’s no surprise that having a bit of spending money – and the opportunity to pay off debts – is one of the most important considerations when considering job offers.

However, pay is only one part of the whole deal and would-be employees need to look at all the other benefits – financial or otherwise – that a job may bring. It’s not just the fault of job hunters – employers too often fail to maximise what they have to offer when trying to attract graduates.

In fact, only one in four job adverts makes any reference to employee benefits at all according to research by consulting firm Watson Wyatt, so it’s crucial that you find out exactly what’s on offer before you commit yourself. Here’s the low-down on the pick of the perks.

Golden hellos
Also called joining bonuses, ‘golden hellos’ tend to be offered by larger employers – usually in the financial, legal and professional sectors.
The latest Association of Graduate Recruiters survey found that more than a third of firms quizzed had such bonuses, with the average amount paid out being about £2,000. They’re a great help, especially if you’re moving home or paying off debts, but it’s worth reading your contract carefully – some firms will ask for the money back if you leave within a set period.

Performance bonuses or commission
Payments outside of basic salary are more common in financial firms or in sales or commission-based jobs – in some jobs they make up the biggest part of the gross income.
The amount paid out can be dependent on individual performance, group performance or even the financial performance of the company as a whole. It’s worth checking your contract to make sure bonuses are fair and that you don’t end up working hard only to be denied the cash because of other people’s poor results.

Pension provision
Firms employing fewer than five people may have no provision whatsoever, or larger companies by law have to offer some sort of stakeholder or group personal pension plans, both of which allow flexibility and portability.
Some of the big firms still offer final salary pension schemes – this means you get a percentage of your final salary depending on your length of service when you draw your pension. It can be a great perk as your employer will be paying into the pot as well as you, usually matching your contributions.
However, if your firm goes bust you could lose all your savings. Many firms are also closing final salary schemes to new employees and are using money purchase schemes – also called defined contribution - where the eventual pension is determined by how much money is paid in and how well the investments perform.
For more information log on to www.pensionsadvisoryservice.org.uk.

Car and fuel allowance
Some jobs, even at graduate trainee level, provide a company car and petrol, and even pay for insurance and other running costs. This is particularly true of marketing and sales jobs which involve much travelling.
It’s a great way of driving a nice car, but tread carefully as you could also be stung with a nasty tax bill. In fact, it can be cheaper to opt for any car allowance to be paid to you as part of your salary, allowing you to buy and run a car yourself.

Subsidised travel
While you should be able to claim for the cost of any work travel, some firms also offer help in getting you to and from the office. This can be subsidised or interest-free loans for buying a train season ticket or even a car, or the provision of free taxis for early or late workers.
Free or subsidised car-parking is another perk, or for cyclists a secure area for locking up bikes. Some organisations even give free cycles to staff.
Firms involved in travel as part of their business may offer staff free or discounted travel on some part of the rail, bus or Tube network, or for airline employees, free or discounted flights.

Private healthcare
The security private healthcare brings can be a huge comfort to many. Private patients can get medical consultations at a time that suits them, and there’s rarely any wait for treatments or surgery.
Firms can either offer free private healthcare, or a staff discount scheme where the organisation subsides some of the cost. Some schemes even cover spouse or partner and children, again either free or at a subsided cost. Larger organisations may even have in-house doctors and nurses for ultimate convenience.

Holiday entitlement
By law you're entitled to 20 days’ paid holiday - the equivalent of four weeks – but this also includes bank holidays. Some employers offer more days – sometimes five or six weeks a year – and may allow staff to ‘buy’ extra holidays with their salary, or offer time in lieu for extra hours worked.
Many organisations allow staff to take extended unpaid leave either for compassionate reasons – such as caring for a sick relative - or for travelling or to pursue a particular project.

Free or subsidised dining
A free staff canteen – or one that’s heavily subsided – can save a small fortune in food and drinks bills. It’s easy to spend a fiver or more a day on lunch, snacks and cappuccino, so this perk can be worth hundreds of pounds a year.
Even if there’s no in-house canteen, many companies will allow employees working outside of their normal hours an extra allowance to buy food.

Training and personal development
Many firms are happy to sponsor staff on courses for practical or academic qualifications, ranging from typing classes up to an MBA or PhD. Courses covering computer software packages or specific professional training can also be very worthwhile. Check what the training policy and budget is.

Staff discounts
If you work for any of the major retailers in any capacity, you’ll probably get a staff discount to use in your firm’s shops or those of any sister or partner companies. Discounts can be as little as 10 per cent or as much as 50 per cent or more, and you might be able to use them for goods, food or services depending on who you work for.
If you’re a fitness fanatic, some firms operate schemes for free or subsidised gym membership – big organisations might even have an in-house gym.

Are benefits worth it?
Company perks are only worthwhile if you’re going to use them. Crèche facilities are irrelevant if you don’t have children and gym membership is meaningless if you’re a couch potato.
Business psychologist Mike Guttridge, from G2 Career Coaching, says: ‘What are your needs right now? Look at the total package and if necessary take independent financial advice as you might be better off going for more money and investing in your own benefits package.’
Whatever you decide, it’s crucial you weigh up and factor in the benefits when deciding between jobs – or risk missing out on thousands of pounds of valuable perks.

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