What to really consider when considering job offers
You have just received a job offer you have been waiting for. You’ve done your research on Glassdoor, looked up some market data and now it’s time to talk details. When you consider a job offer, is it for the money, the growth or the perks of the company? Many times, your first reaction is to accept as not to seem disinterested. Some will stall as to not appear overly excited and others may just not accept the job offer at all. Whichever of these sounds like you, here are some things to consider before accepting an offer?
Job offers are not solely about the money. In order to fully evaluate an offer of employment, you must consider the total compensation. Total compensation includes the salary, benefits, bonuses, merit increases and 401K matches just to name a few. It is not uncommon for candidates to request a copy of a company’s benefits to determine how much their out of pocket expenses will be. Could the cost of benefits be offset by an employer funded health savings account? Are annual bonuses offered and if so, at what percentages? If bonuses are not offered, are there annual merit increases? And lastly, what contribution percentage does the employer contribute to your 401K?
These are just a few items that make up total compensation. Although tempting, try to evaluate the entire offer and don’t just stop at the dollar amount of your future salary.
Programs and perks
Have you ever rented an apartment and they had a list of preferred employers? What about your cellular service provider… ever got a discount there? Often times employers offer programs and perks that could possibly add intangible value to your job offer. I know a young lady whose employer has an in house gym equipped with an onsite trainer and showers, and guess what? It’s free for all employees. This saves tremendously on monthly gym membership fees. Another perk to consider is parking allowances and subsidies. If you know anything about downtown Houston, parking can range anywhere from 60- 200.00 per month. If your future employer offers a subsidy to help cover this expense, this would be a great monetary bonus to minimize your out of pocket expenses.
Advancement and Development
Pinch yourself for the times you said you wanted to grow with a company that offers growth and advancement opportunities. Now pinch yourself again for the times you DIDN’T ask for the career path before you accepted the job. Now pinch yourself one last time if you took the job, have been in the role for more than a year and you still don’t know what it takes for you to move to the next level. If one of your goals is to grow within a company, why wouldn’t you ask what the career path looks like before you accepted a position? Who is to blame when you accepted the role and its now 3 years later and you haven’t grown or developed? Ask for the career path. Most career paths include some form of continuing education. This may include licenses, certifications or maybe even advanced degrees. If you plan to grow and these make up the components of your development, you would want to find out if the employer offers reimbursement or a subsidy for continuing education. You’d also want to know if there is a waiting period, an annual cap or any conditions for accepting the subsidy.
Long story short- offers of employment are about much more than just the salary. As you can see, there is much more to consider.
Have more questions? Leave them in the comments below.