5-1-09: Duke: More Than a Paycheck: Understanding Your Net Worth at Duke

Your annual salary is just one part of your total compensation at Duke. For most faculty and staff, Duke also pays a portion of health insurance, helps with retirement nest eggs and offers other valuable benefits such as life insurance and tuition assistance.

In early May, personalized benefits statements will arrive by mail to the homes of employees, providing an overview of the value of each faculty and staff member's total compensation package, which includes salary and benefits.

"In today's economy, it is essential for each Duke faculty and staff member to become more familiar with the benefits connected to their job," said Kyle Cavanaugh, vice president of Human Resources at Duke. "I believe that Duke's combination of direct pay, benefits and a supportive environment makes Duke an unbeatable place to work."

On average, for every dollar an employee earns, Duke contributes about 25 cents in additional benefits. This includes financial provisions such as insurance or retirement plans, as well as investments in discounts, wellness programs and other opportunities.

Each employee's total compensation package is unique, based on individual choices. To highlight elements that comprise total compensation, here's an example of what an employee's total compensation might look like. Calculations are based on a compensation package for a monthly-paid employee earning a salary of $56,182.

http://hr.duke.edu/value/