University of Wisconsin Madison Dream Job Income Budget Worksheet

I’m working on a management writing question and need a sample draft to help me learn.

In your dream job you get paid $50,000 annual salary. Your employer has $25,000 to put into benefits.

Here is a list of the benefits you can receive. You are required to have the Statutory Benefits and the Health Insurance.

• Statutory benefits $5,200 (FICA, UI, Workers’ Comp)
• Health insurance $10,000 (you still pay $5,000)
• Dental and optical $1,400
• Life insurance $1,300
• PTO (3 weeks) $3,600
• Retirement (5%) $2,500

Total $24,000

So, where do you spend $1,000 ?

Do you take less in PTO or retirement and spend it elsewhere?

Do you take more in PTO or retirement and have less in other benefits?

You can sell back some of the PTO or take less in retirement and then reallocate that into other benefits. In this way you get more or less PTO or retirement. You can also apply this to optional benefits. You can not adjust the first four benefits. Sorry.

Would you chose some of the optional benefits (student loan repayment, computer purchase, commuting assistance, pet insurance) or would you the excess by buying more PTO or retirement? What other benefits would you chose and how much would you apply? Other choices are student loan repayment, computer purchase, commuting assistance, pet insurance.

Your total benefits must equal exactly $25,000.