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We present a comprehensive optical study of the excitonic Zeeman effects in transition metal dichalcogenide monolayers, which are discussed comparatively for selected materials: MoSe$_2$, WSe$_2$ and WS$_2$. We introduce a simple semi-phenomenological description of the magnetic field evolution of individual electronic states in fundamental sub-bands by considering three additive components: valley, spin and orbital terms. We corroborate the validity of the proposed description by inspecting the Zeeman-like splitting of neutral and charged excitonic resonances in absorption-type spectra. The values of all three terms are estimated based on the experimental data, demonstrating the significance of the valley term for a consistent description of magnetic field evolution of optical resonances, particularly those corresponding to charged states. The established model is further exploited for discussion of magneto-luminescence data. We propose an interpretation of the observed large g-factor values of low energy emission lines, due to so-called bound/localized excitons in tungsten based compounds, based on the brightening mechanisms of dark excitonic states.