Paycheck Perks: How These 10 Benefits Actually Boost Your Earnings
Written by
Jennifer Taylor
Edited by
Angela Corry
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The amount of your paycheck is likely just part of your total compensation. Most employers also provide fringe benefits that can add up fast.
Learn More: How To Stop Living Paycheck to Paycheck When You Make Plenty of Money
When applicable, taking advantage of these perks is wise because you’re getting free or discounted services that can improve your life in various ways. Keep reading to find out how the following 10 common employee benefits can seriously increase your earnings.
Financial Security and Reduced Costs
Healthcare
Healthcare isn’t cheap, but employer-sponsored medical, dental and vision coverage can keep costs at a manageable level. In 2023, 52% of covered workers paid 25% or less of health insurance premiums and 4% paid nothing, according to the most recent information from the Kaiser Family Foundation.
Retirement Savings
Many companies match your contribution to retirement plans like a 401(k) to a certain percentage, i.e. 4%. If you don’t take full advantage of this, you’re essentially declining free money.
In March 2025, 72% of private industry workers had access to a retirement plan, but only 53% were participating in it, according to the Bureau of Labor Statistics.
Life and Disability Insurance
Many companies offer employees life insurance and/or disability insurance at a discount or no cost at all. This can provide peace of mind — you can’t put a price on that — and in the case of an unexpected event, financial support.
However, employees aren’t necessarily signing up. As of 2024, among workers offered these benefits, there’s been no increase in the percentage who own disability insurance and only a 5% increase in life insurance ownership, according to Guardian.
Student Loan Assistance
In 2024, nearly half of borrowers with a bachelor’s degree owe at least $25,000 on their student loans, according to the Federal Reserve. This rises to 71% of borrowers with a graduate degree.
Only 6% of private industry workers have access to student loan repayment benefits, as of 2024, according to the BLS. It’s a small percentage, but the lucky few can realize major savings.
Increased Productivity and Career Advancement
Professional Development
You can’t put a price on knowledge. Companies that provide opportunities for training and development can pave the way for higher future earnings. The more you know, the further you can advance in your career.
Flexible Work Arrangements
The ability to regularly work from home, enjoy flexible hours or both is invaluable. It can be hard to quantify outcomes like a better work-life balance, lower stress levels and higher productivity. However, if these positive changes result in raises or promotions, you can add up the dollar signs.
Paid Time Off
In 2024, after five years with the company, the average private industry employee received 15 paid vacation days and seven days of paid sick leave per year, according to the BLS. You can easily calculate the monetary value of your PTO, but don’t forget about the added benefits of preventing burnout and the ability to rest and recharge.
Beyond the Paycheck
Company Perks
It’s not uncommon for employers to offer extras like complimentary gym memberships, discounts and even company cars. The value of these perks isn’t directly reflected in your paycheck, but they’re saving you money.
Profit Sharing and Stock Options
A perk that can really pay off, some companies offer profit-sharing programs or stock options to employees. This is often a way to incentivize hard work. And, if the company performs well, this may provide additional income.
Childcare Assistance
Childcare isn’t cheap, so companies that offer subsidies or even an onsite daycare center can save parents a great deal of money.
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