Ask a Recruiter is an ongoing series that covers topics both large and small facing students who are looking for their first job or internship. This article will focus on explaining numbers you may come across in your job hunt.

This series is written by Rachel Graham, a University and Diversity Recruiter at Lenovo who specializes in North America opportunities.

Have a question for Rachel about starting your career, interviewing or finding an internship that’s right for you? Add your question in the comments section.

 

Why is 2080 a number you should know when you're job hunting?
 
2080 is the number of hours in a working year (8 hours a day, 5 days a week, 52 weeks). This is important because if a company tells you the hourly pay, you can multiply that by 2080 to see how much that would be as a yearly salary. This can help you compare offers and look up salary ranges for your location, job, industry, etc. Even if it is provided to you at an hourly rate!

  

What does it mean when a company says they match 401k contributions up to a certain percent?

To put it simply, a 401k is a retirement account you can contribute a percentage of your salary into from each paycheck. The percentage you'd like to contribute is decided by you. The "match" is how much your company will also contribute to your account, as part of your complete rewards package.

For example, if a company matches up to 6%, that means if you put in 6% of your pay to your 401k, your company will match it and double your contribution! If you put in 4%, they put in 4%. You can put it more, say 8%, but your company will only match up to 6%.

Theoretically, it is free money your employer is giving you in your retirement fund! Take advantage of this and keep this in mind as you're comparing different offers. There are lots of benefits to consider beyond "what is my salary", and a 401k contribution matching is one of them!

 

What questions do you have for recruiters or what do you wish you knew?

Leave your question in a comment below!

Want more expert advice for your job/internship hunt? Click here to view past articles.

 

About Rachel:

Rachel graduated from University of North Carolina – Wilmington in May 2019 and began her career at Lenovo soon after. She is a Raleigh, North Carolina native who spends her free time fostering kittens, doing home DIYs and enjoying time with friends and family.

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