Hi everyone and welcome back to Money Girls Quick and Dirty Tips for a richer life.

I'm Laura Adams. When you're evaluating a career change like taking a new job or

becoming self-employed it's important to weigh your options carefully. There's

usually much more to an employment offer than just the face

value of the salary or hourly wage. In fact, benefits other than gross pay can make up as much

as 30% of a compensation package.

If you're thinking about working for yourself,

you'll need to factor in additional expenses that come with being your own boss.

There are lots of financial and non-financial issues to consider before you make a final

decision about your next career move.

This topic was inspired by a great email I received from Chris R who's trying to decide whether to make a big career move or not.

Let's begin with a situation where you receive a job offer from a new employer. The work and pay sounds great, but you feel torn because you get

really great benefits from your current company and you like working with your boss.

How do you make an apples-to apples to apples comparison so you'll know which

situation would be better for you in the long run? I'll break down everything you

need to review into six categories. Income, benefits, expenses, time, career path, and environment.

The base salary or hourly wage, plus commissions and bonuses, will obviously play a huge role in whether you want to accept a new job offer or not.

Add to that amount any additional reimbursements or allowances that you'd receive for expenses, such as your training, auto mileage, cell phone internet, relocation, travel, and client entertainment.

Company reimbursements are great because they're generally not taxable, so the more of those you get, the better.

Try to estimate your future potential income.

Does one opportunity offer an income guarantee, an annual cost of living adjustment,

raises based on performance, a growing customer base, or a more lucrative sales territory,

...