Total compensation package is the sum total of all benefits, monetary and otherwise, an employee receives from a company. The packages are designed to attract and retain talent. Depending on the size of the company, a compensation package may have several components including salary, stock options, in-kind services, bonuses and perks in forms of cars, ACs, telephones and housing. Needless to say that well established organizations offer more exhaustive compensation packages, while salary is the main compensation component in startups. Factors considered when coming up with a total compensation package are the candidates' education, prior work experience, skills, domain knowledge, and roles and responsibilities. Employers' revenue, size, industry, location and compensation philosophy also dictate terms of the compensation offered. Economic conditions and availability of workers with desired skill set also affects the package. Businesses regularly conduct appraisals annually or quarterly to keep a record of their employees' performances. Compensation packages improve either due to seniority or excellence in work. Certain industries like IT, Finance and Banking offer top of the line performance based packages. Hefty compensations usually translate into extended working hours, stressful lives and shorter career spans. Latest trends in total compensation package see a rise in monetary benefits and a slow down in stock options. Financial advice, family oriented strategies such as childcare facilities, wellness programs, eldercare, assistance with relocating, paid time off and telecommuting/flexible timings are some other preferred benefits included in a compensation package. The trends reflect necessity to curb attrition, afflicting every industry today.