When new graduates begin evaluating a job offer, they often don’t look at the whole package.

“The first mistake that young people make when they go into the workforce — when they’re comparing jobs — they just look at income,” says Stephanie Genkin, certified financial planner and founder of My Financial Planner LLC in Brooklyn, New York.

But your employee benefits package is just as important as your future salary. “It’s worth probably about 30 percent of your total compensation,” Genkin says.

For young employees, the benefits package can be overwhelming. But don’t let the confusing jargon and insurance mumbo-jumbo throw you off. Home in on the components that have the greatest effect on your wallet. Here’s what to know.

[See: 10 Money Mistakes New Grads Make.]

Medical insurance. First thing’s first: Inquire about health insurance benefits, experts say. “For a lot of people, getting health care through an employer, especially in these topsy-turvy times, is a big deal,” Genkin says.

Is health insurance even offered to employees? What about dental and vision insurance? You may want to opt into those supplemental plans as well, depending on your needs.

You likely won’t get the nitty-gritty details of your health insurance options until after you’ve accepted the job offer — and are flipping through your benefits package. But you can still get a general sense of what’s offered in the application stage. “As an HR professional for 40 years, I will tell you this: Ask the questions,” says Joyce Van Curen, a retired HR professional based in the Sacramento, California, area. “When people ask those kinds of questions, that tells me a lot about their seriousness.”

Keep in mind that current health care policy allows adults under age 26 to stay on their parents’ health insurance plans. Some young workers may choose to flex their financial independence by enrolling in their employer’s plan, while others may stay with Mom and Dad’s insurer in order to focus on other financial goals, such as paying down student loan debt.

[See: How to Live on $13,000 a Year.]

Retirement. While retirement may be 40 years — or more — in the future, retirement benefits are still a critical component of your benefits package. “It seems almost silly for millennials to look at this because they’re mired in college debt, but they can’t afford not to,” Genkin says. Here’s why: When you’re young, even small retirement contributions have powerful growth potential as interest compounds on interest.

Examine whether your employer provides a 401(k) or 403(b) where you can set aside a portion of your salary for retirement. Your employer may offer a match in which it meets 50 or 100 percent of your retirement contributions, up to a certain percentage of your salary. “If there’s match on the table, take advantage of that,” says Douglas Boneparth, president of Bone Fide Wealth in New York City and co-author of the upcoming book “The Millennial Money Fix.”

Financial experts commonly say that neglecting to leverage an employer match is akin to leaving money on the table. So, even if you can’t contribute much, at the minimum, deposit enough to capture that match, so you’re not turning down free cash.

You may also want to take note of whether there’s a trial period before you can begin investing in the company retirement plan — and whether you need to wait a year — or more — before you’re fully vested and can walk away with the entire match amount.

[See: 15 Financial Steps to Take Your First Year After Graduation.]

Vacation days and sick days. For many workers, it’s not hard to see the value in this benefit. After all, who doesn’t want great work-life balance and the ability to take time off?

But look beyond how much vacation time you are awarded. Does your potential employer provide separate pools for vacation days or sick days? Or does it offer paid time off, or PTO, which bundles vacation days, personal days and sick days? Don’t forget to ask if the company permits employees to bank vacation and sick time — a useful benefit in case of an emergency, Van Curen says.

What to do if you don’t like your prospective benefits package. Exercise your best judgment when negotiating the elements of your benefits package. Some benefits, such as health coverage, are not likely to budge because employers negotiate them separately with the health insurance company. Others, such as vacation time or work-from-home days, are more negotiable, but it can be hard when you’re first starting out and have very little leverage. If you do have competing job offers, those can give you some bargaining potential, even if you are a first-time employee.

“You’re your own advocate,” Boneparth says. “But are you going to turn down your dream job, that’s in your industry, because you didn’t get the five vacation days you wanted?”

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How to Evaluate an Employee Benefits Package originally appeared on usnews.com