Scenario # 1: 50,000 gross, employer match up to 6,000.
Assuming: single taxpayer, maxing 401(k) at 18,000, the first 6,000 of which you are getting an employer match for.
Tax on $32000 (gross-401) = $4800,
Net pay = $28000
Take-home, if you add the 401(k) and match with net = $52,000.
Assuming 7% returns, growth of 401(k) over a five year period (no one really stays at a same job for more than five years, it's either promotion and raises, or a different company, so this is a bit lame, but putting it here for comparison's sake) = $171,678.98
Scenario # 2: 49,000 gross, employer match up to 7,000.
Assuming: single taxpayer, maxing 401(k) at 18,000, the first 7,000 of which you are getting an employer match for.
Tax on $31000 (gross-401) = $4650,
Net pay = $26350
Take-home, if you add the 401(k) and match with net = $51350.
Assuming 7% returns, growth of 401(k) over a five year period (no one really stays at a same job for more than five years, it's either promotion and raises, or a different company, so this is a bit lame, but putting it here for comparison's sake) = $178,809.27
At a difference of about 7 grand over a five year period, it's really a toss-up for me. So yes, I would focus on other aspects of the job, and not just on the compensation.
Edited to add: yes, the taxes I estimated don't factor in FICA, medicare, soc. security, etc. Nor does it include state taxes. But I still think it's too close to bother (to me, personally) fine tuning the above coarse estimate. If the additional $7000 over a five year period growing in a tax sheltered account seems meaningful to you, more power to you.