Did you know that a new job can actually cost you money? When searching for a new job, you need to be able to evaluate possible expenses that come along with new employment. After all, you want to find a job that meets your criteria as well as the employers.
Truth is, every job has its hidden costs, including the amount of effort, time and money you need to invest in. This article lists four hidden costs of a new job that you should be aware of:
#1 Travelling expenses
The most common cost that is associated with a new job is commuting. Obviously, if your new job involves an hour commute, you will definitely be facing higher costs for gas or ticket fares in case of public transportation. If you think about it, you will probably spend, on average, £5 a day which means almost £2,000 for a whole year!
Depending on the job, other travelling expenses might include trips to out-of-work networking events. Despite the fact that such events may be costly and time-consuming, they are also impossible to ignore because not networking with colleagues and competitors could damage your career.
In addition, perhaps you could consider how many hours you will be spending on the road. Are you able to work around that schedule?
#2 Professional clothes
Perhaps your new workplace requires from you to wear more formal work clothing in contrast to your old one. When employees are expected to wear a uniform, the majority of employers may tell you that you need to buy your own. In other cases, you might have to buy your formal business attire, especially if you are interested in working for a popular and well-respected organisation.
#3 Lunch and other extras
Eating out every day will definitely work against you as money adds up very quickly. You might not be able to realise it now because you aren’t in that role yet, but lunch can actually cost you a great deal of money if not handled properly. Consider bringing in food from home so that you don’t end up spending all of your salary on fast-food.
#4 Uncompensated training
Although in most cases your employer will pay for any training they require you to take, you should make sure that the position offers compensation for the time you have spent on said education. This can be quite common in tech jobs and in healthcare so do your research first and ask appropriate questions before you accept the job offer.
When assessing a job, ensure that you are taking all of these important factors into consideration. It seems that it’s not enough to judge your job opportunities merely by salary or financial benefits. At times, there are a lot more hidden costs involved that can make you change your mind.