The plot of the scenario :

Job Offer 1: The salary is $43,000. Medical premiums monthly are $200 for a single plan and $425 for a family plan. Childcare is on-site and $100.00 a week per child. You have Personal Time Off (PTO) earning 2 days a month along with 2 weeks vacation. The job is located 12 miles from your house. The company has a 401K but, no employer matching. Possibility of remote work.

Directions:

When responding to the scenario below, address the following:

• Offer suggestions to help lower out-of-pocket expenses if possible.
• Discuss what guidance you would give if this were your child, family member, or friend.

(Scenario )Job 1
Salary: 43000 / 12 weeks = 3583.33
3583.33- 450 (family plan) = 3133.33
Mileage: 72 (3 days in the office) / 25 = 2.88
My car gets 25 MPG
2.88 * 3.33 per gallon = 9.59 * 4 = 38.36
3133.33 - 38.36 = 3094.97 - 200 (401K) = 2894.97
Time off: 2 PTO days/month and 2 weeks vacation
Possibility of remote work, no 401K match

Job 2
Salary: 55000 / 12 = 4583.33
4583.33 - 450 (family plan) = 4133.33
Mileage: 50 / 25 = 2
My car gets 25 MPG
2 * 3.33 per gallon = 6.66 * 4 = 26.64
4133.33 - 26.64 = 4106.69 - 200 (401K) = 3906.69
Time off: 5 sick days and 2 weeks vacation (increases with longevity)
No remote work, 401K match up to 3%

Job 3
Salary: 30000 / 12 = 2500
2500 - 375 (family plan) = 2125
Mileage: 54 (3 days in the office) / 25 = 2.16
My car gets 25 MPG
2.16 * 3.33 per gallon = 7.19 * 4 = 28.76
2125 - 28.76 = 2096.24 -200 (401K) = 1896.24
Time off: 10 personal days and 2 weeks of vacation
Possible 100% remote after 2 years
401K match up to 5%

I do not have childcare expenses, as my son is 16. I did not take that benefit into consideration for myself. I was working fully in the office prior to COVID, fully remote during the height of COVID, and now I work a hybrid schedule. I work in the office 2-3 days per week and remote the other days. I would choose to keep this schedule as I have found it to be my best option. When calculating mileage costs I considered being in the office 3 days a week, with the gas at $3.33 / gallon based on what I paid this weekend. I also planned a flat rate of $200 per month to contribute to my 401K plan, regardless of whether the employer matched it.

I would choose job 2. It has the highest salary, the benefits are comparable in price to the other 2 jobs. While there is no remote work, I do not have that as a high priority, as I do enjoy being in the office. I would try to negotiate the time off. I would ask them to match the 10 personal/sick days plus the 2 weeks of vacation time. This would be closer to the amount of time-off jobs 1 and 3 are offering. I would also ask for tuition reimbursement and/or paid job training. I want to take my AIC (Associates of Insurance Claims) and my CPCU (Chartered Property Casualty Underwriter) Designation. Both of these increase my knowledge of the job. I could add that to my negotiations showing that it would help the employer.