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The Salary Value of Vacation Time

The Salary Value of Vacation Time



By Amanda Frank
Monster Contributing Writer



The ‘time is money’ notion aggravates me during laundry as I try to justify hiring a housekeeper. I harangue inwardly, “With what I’m capable of earning hourly, are chores really worth my time?” And I’d rather be in Mexico. Well, based on that thinking time is money indeed. Vacation has value. That’s why it’s called paid time off. Maybe it won’t pay for a maid, but an extra week of vacation, if you can negotiate one, has a value in salary dollars. If you’re on the job boards it’s good to know the total value of your salary package. It may soften the blow of a less than extravagant salary attached to your job offer.

You're Earning More Salary Than You Think!

What is the trade off for accepting a lower salary than what you had in mind? The following salary comparison shows exactly what you get when you negotiate an extra week of vacation. The same can be applied to anything paid by the company such as a car allowance, phone plan or gym membership.

The equations are broken down based on three salary figures, $35K, $65K and $95K.

$35K annual gross salary breaks down to $2917/month or $673/week.
3 weeks vacation time is equivalent to $2019 pay.
Value of 1 week vacation plus annual salary = $35,729
  • Value of 3 weeks vacation plus annual salary = $37,187

$65K annual gross salary breaks down to $5417/month or $1250/week.
3 weeks vacation time is equivalent to $3750 pay.
Value of 1 week vacation plus annual salary = $66,250
  • Value of 3 weeks vacation plus annual salary = $68,750

$95K annual gross salary breaks down to $7917/month or $1827/week.
3 weeks vacation time is equivalent to $5481 pay.
Value of 1 week vacation plus annual salary = $96,827
  • Value of 3 weeks vacation plus annual salary = $100,481

Salary isn’t Always the Job Hook

Sometimes the things that bring us the most happiness in our jobs don’t pertain to money. It could be a great experience that makes up for the missing liquidity, like the opportunity to work abroad. When your pay falls short of your desires, try to find a job bonus to balance out the salary slack whether it’s a short commute, a flexible schedule, a great work environment or an office close to daycare. It will be easier to swallow the bitter pill of a salary hit for many payslips to come.
 

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