Evaluating a job offer is difficult territory, especially since your bottom line may waver depending on how badly you need a job. Anything might be OK on a temporary basis, but it helps to know what to watch out for. Here’s a checklist of what to consider when you’re evaluating an offer for employment.
Compensation. Be sure to include any commissions, bonuses and profit sharing opportunities in your calculation. Other compensation could include a signing bonus or relocation reimbursement. Be sure to ask about the company’s performance review policies and salary review process. How often is your salary reviewed? How much can you expect to learn after 2, 3 or 5 years with the firm?
Hours. What are the regular hours? Is overtime routinely required or expected – and is it paid or unpaid? What about working nights, weekends or holidays?
Travel. Does the position require travel? How much? What are the policies regarding travel reimbursement?
Benefits. When are you eligible for benefits? Don’t assume benefits kick in on your first day; you may have to wait months before you can get covered on the firm’s insurance. Make sure you understand what’s included and what your monthly expenses will be for the health, dental and any other insurance coverage you desire. Are there any retirement benefits or stock options? What are the restrictions?
Time off. Vacation time and paid holidays can vary greatly from employer to employer. Ask about rolling over paid time off from one year to the next and if unused days can be cashed out. Are personal or sick days treated as PTO or not? How are partial days and appointments treated?
Location. How long (or painful) will your commute be? How close is work to lunch, groceries, your kid’s school or the gym?
Flex time. Get a firm understanding of what flexibility is possible with your work schedule. Can you work from home sometimes? Do 4 day weeks in the summer? Switch a Monday for a Saturday from time to time? Come in at 6 am so you can leave at 3?
Company culture and perks. What do you know (or what can you find out) about your future boss, coworkers, office environment and your work area? What are the company values and mission statement? Find out everything you can about the company and make sure your personal values don’t conflict. Perks could include anything from day care, parking, health club memberships, tuition assistance, yoga classes, massages, to lunch and much more.
The boss. Can you meet some of your future boss’s other direct reports? Are they relaxed or uncomfortable when you ask questions about the boss? How long do most people in the job stay with the company? How long did the person before you hold the job and why did they leave? Can you meet them?
Job match. Is the job a good use of your skills? Will you learn marketable new skills? Do you know what to expect on the job? A workplace should entice you to acquire new skills, increase your earnings and rise to positions of greater authority. Make sure you understand the goals for the position and don’t over/underestimate the scope of the job. Find out the expectations for your first month and year. Ideally these expectations are also spelled out in writing.
Title. You might be inclined to take slightly less pay with a smaller company so that you can command a more prestigious title and glean experience that might be a stepping stone to something even bigger.
Start date. A job offer to start 6 months from now might be perfect, or it might just be frustrating. Pay attention to the timing of the job offer.
Mobility. Career advancement opportunities are important, but also consider some companies may permit you to travel the world and maintain your position wherever you choose to live.
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[...] Counter offers are rarely worth considering. If you had the motivation to interview for another position, your current job is probably not the best place for you, even if they raise your pay, up your vacation or otherwise sweeten the pot. Learn more about evaluating job offers in this article. [...]