EVALUATING OFFERS AND ACCEPTANCES
The three basic steps to consider when evaluating an offer are:
- assess the company
- assess the position
- assess the salary and benefits package
The following questions will help you to assess each area:
- How did the interviewer treat you?
- Did you feel comfortable during the interview? Did you like the people?
- Where is the company going? Is it growing or downsizing?
- What is the company's market share?
- Who are the company's competitors?
- What is the growth potential of the company's products/services?
- Would you be working in a strong division?
- Are the functions of the position well supported and respected by the rest of the company?
- What is the culture of the company?
- How well will the combination of your style and your manager's style merge with the company as a whole?
- What are your specific job responsibilities and are they clearly defined?
- What is the history of the position? What happened to your predecessor?
- Where does the “normal” career track lie?
- What is the growth potential in this position?
- How long are you expected to stay in the position before advancing?
- How does the position fit with your short- and long-term career goals?
- How can the position provide bridges to future opportunities?
THE SALARY AND BENEFITS PACKAGE
- How does the complete package meet or exceed what others are receiving for the same position at the same level of skill?
- How comfortable do you feel with your salary and benefits package?
- What are the industry standards for salaries at your level?
- If you have been offered a salary much higher or lower than usual, what are the reasons?
- What is the company's pension plan and what is the vesting period of your plan?
- What is a rough estimate of pension benefits that will come to you after 10 to 20 years?
- What is the relative safety of the pension and how are the retirement funds invested?
- Does the company offer a company sponsored savings & retirement plan?
- How much vacation, sick time and personal days will become available to you?
- Does the company offer educational benefits?
- What is the full range of medical, dental, and disability benefits?
Although it is difficult to assign dollar values to certain benefits, try to determine their worth by reading through the company literature—a good
benefits package can be worth 25% to 30% of your salary.
DEADLINES AND SIGN-ON BONUSES
Many employers will extend an offer with a deadline for you to accept or reject the offer. In some cases, an additional incentive of a sign-on bonus is attached with the offer. Typically, you will receive a one-time bonus if you accept your offer within the given deadline. Communicate closely with each organization that has extended you an offer, and inform them of the time frame in which you expect to make your decision. Some employers may be willing to extend the deadline while others will need to enforce the time frame of their hiring schedule.You should not hold more than three job offers at any one time. Upon receipt of an additional offer, one should be eliminated.
NEGOTIATING YOUR JOB OFFER