Determine the retirement savings you will have in 5, 10, and 20 years considering the retirement options provided by each employer in the job opportunity letters. If your employer matches your contributions, assume you will put aside the maximum that the employer will match; if the employer does not have a retirement option, assume you will put aside 5% of your pre-tax salary each year. Explain how you got your results.
Milest
Quantitive Reasoning
I need the Salary and Benefits section filled out in the document attached. The job offers they are talking about are below to reference.
Job Offer 1: http://snhu-media.snhu.edu/files/course_repository/undergraduate/mat/mat125/mat125_conceptartist_offerletter.pdf
Job Offer 2: http://snhu-media.snhu.edu/files/course_repository/undergraduate/mat/mat125/mat125_graphicdesigner_offerletter.pdf
Job Offer 3: http://snhu-media.snhu.edu/files/course_repository/undergraduate/mat/mat125/mat125_webdesigner_offerletter.pdf
one One: Job Offer Comparison
(NAME)
Congratulations on graduating with your bachelor’s degree from Southern New Hampshire University! A new array of opportunities is open to you, but which will you choose, and how will it impact your life? Select your discipline area of interest and examine the set of jobs you have applied to and received offer letters for to determine which one best fits your needs and wants.
Employment Opportunity Analysis
In this section of your milestone, you will focus on the opportunities presented in the discipline area of interest to you. Compare the opportunity as instructed below:
| – Subject matter I’m passionate about
When it comes to my job the most important thing is that I care about the subject matter. If I am doing work for clients I hate I probably will be unhappy. – Competitive pay I think it is important to know your worth when it comes to how much you are getting paid. I value my work and would want my company to value that as well. I personally prefer salary rather than hourly pay so I know what is coming in every month. – 401K I care a lot about the future and want to make sure I am thinking about the long term when making career changes. Ideally, I would want a company to be matching a percentage of my 401K monthly. |
| Location:
Concept Artist – San Francisco, CA I currently live in Los Angeles, CA so I would have to relocate. However, the relocation wouldn’t be too terrible as I could easily drive a U-Haul up with all of my belongings. They have a housing facility on campus so I wouldn’t have to worry about commute or expensive housing. I would however, need to leave all my friends and family and start almost completely fresh from a social stand point. Graphic Designer – Los Angeles, CA I currently live in Los Angeles, CA so accepting this job would have little impact on my day-to-day life. Web Designer – New York, NY (remote) The company is located in New York however is a remote access company so I would not need to relocate. This would have little impactt on my day-to-day life other than not having a work space. |
Salary
Find the occupational area on BLS.gov and compare the salary ranges for each job. Specifically, answer the following in your comparison:
| Calculate what a reasonable salary would be for each job opportunity using the Bureau of Labor Statistics (BLS) website and explain how you determined each figure. |
| Calculate the starting income each position will provide you after taxes using an estimated flat tax rate of 30%, as well as the annual income you would make at the 5-year mark after taxes using a flat tax rate of 32%. |
| Were you to have information about the salaries of various levels of employees in each company, what would you use (mean, median, or mode) to calculate your expected salary? Why?
|
Benefits
Compare the benefits and retirement packages of each opportunity, calculating theoretical retirement savings if applicable. Consider the following:
| Determine the retirement savings you will have in 5, 10, and 20 years considering the retirement options provided by each employer in the job opportunity letters. If your employer matches your contributions, assume you will put aside the maximum that the employer will match; if the employer does not have a retirement option, assume you will put aside 5% of your pre-tax salary each year. Explain how you got your results. |
| Compare the insurance plans offered by each employer and how much you would be expected to cover. Be sure to consider your personal situation such as children who need coverage and how much the family plans will save/cost you. |
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Regards,
Cathy, CS.
