How to evaluate my job-offer
When you finally get a job offer, you may not even hesitate to take it. After all, isn't that what you've been working toward for weeks (if not months)? However, not every job offer is suitable for you, so you must carefully consider it before accepting it. And, as the world continues to shift due to coronavirus concerns, don't forget to consider changing work environments and priorities—what may work for you now may not be a good fit several months (or years) down the road when employers and employees have both begun to find their new normal.
It's critical to think about more than just your wage. Consider the full package when considering a job offer, including job content, compensation, benefits, hours, flexibility, management and corporate culture, pension plans, and the work environment. If you're weighing many offers and attempting to decide which one to accept, compare them to discover which one wins. Make certain that the company meets, or comes close to meeting, your criteria for an ideal employer. Consider what job would be ideal for the next stage of your career. There may be indicators that the job may be a nightmare. Weigh the benefits and drawbacks of the offer and give it considerable thought. There could be compelling reasons to decline the position. If you are unsure, it is totally acceptable to ask for some time to think about it.
What is included in a job offer?
Job offers are often made in writing, as a formal letter that you may receive in the mail or electronically. After submitting a cover letter and résumé and attending interviews, selected candidates are usually given an offer. The recruiter may make a verbal offer over the phone first, followed by an offer letter. Because each offer is unique, the contents of your offer may vary depending on your company. Most job offers include some important elements, and understanding these elements may help you properly consider the offer. Offers frequently include:
Job specifics: Your job title, duties, part-time or full-time status, and working hours
Start date: The first day you are expected to report to work by your employer.
Supervisor: The name and position of the person to whom you are reporting
Compensation: Your salary, any bonus opportunities, and your benefits
Contingencies: Background checks, drug testing, or other activities on which your offer is contingent
Legal contracts: A non-disclosure agreement (NDA), a non-compete clause, or other contractual duties are examples of contractual responsibilities.
Acceptance and acknowledgement of offer: A portion in which you sign your agreement to the terms of employment.
Tips for researching a job offer and deciding if it's right for you:
1. Understand your worth.
If you've been looking for work for a long time, you might be eager to take the first offer you get. It's worth noting that many organizations pay dramatically varying wages for comparable job titles. To determine whether the offer is worth accepting, look into the average salary in your area for your job title and experience level. Remember to factor in future earnings by analyzing factors such as cost-of-living increases.
2. There is more to pay than just a salary.
Because compensation can take numerous forms, don't base your selection just on wages. When all of the bonuses and benefits are considered, a package may be much more tempting than initially believed. When analyzing a job offer, keep the following points in mind:
Vacation and time off are permitted: What do you get per year, and how much may you take at once?
Health insurance: What types of plans does the firm provide, and how much do they pay in comparison to what you spend?
Flexibility: Are the working hours flexible? Will remote work, if it is now virtual, continue after the pandemic?
Profit-sharing or stock options: How much money is guaranteed? Or, what is the maximum amount you could receive in a year?
Would they cover a few classes here and there, or will they potentially pay for you to earn an advanced degree?
Are there any raises or bonuses available? If so, how frequently do they occur and how are they calculated?
Retirement: Does the employer offer a retirement plan, and how much will it contribute on your behalf?
Other advantages include: Do they have gym memberships? Laptop and mobile phone? Is there paid family leave available?
3. Examine the job requirements.
Go over the job description and specifications once again. It is critical to be confident in your work and content with your obligations. Challenges can help you advance in your profession, thus it may be advantageous if the role contains some responsibilities that are unfamiliar to you. Additionally, make certain that you understand what your employer expects of you and that those expectations are reasonable. If you have questions regarding the job specifications or want more information about the role's scope, you should contact the HR department.
4. Perform a Health Check on Your Company
Conduct extensive investigation to ensure that the company is in good health. This is critical when analyzing a job offer at any time, but especially during a recession. You may look at its Better Business Bureau rating and search it on social media to see if there are any financial red flags you should be aware of.
Keep in mind that businesses that have been particularly heavily impacted by the epidemic may be struggling for some time, so if you notice symptoms of difficulties in these types of companies, you may want to pass. Having said that, numerous industries have grown during these difficult times as well.
5. Consider your personal requirements.
Employees who have personal concerns, such as health issues, young children, or aging parents, may require flexibility. Consider how the job will fit into your personal life and whether it will meet your specific needs. If you have any questions about accommodations, please review the job offer and contact HR.
It can be difficult to evaluate a job offer. If you feel pushed or rushed to accept a job offer, it's usually not the ideal position for you. Maintain open lines of contact with HR and ask as many questions as you need to make guarantee you're making the right decision. Are you willing to take the offer?