Evaluating a job offer can be overwhelming. Sure, it’s exciting to be the one, and you might worry that it will all fall apart if you don’t say yes right away. But don’t let that heady emotion lead you to make a rash decision. Learning to evaluate a job offer takes time and careful consideration.
You don’t want to take a job that sounds amazing only to find yourself working in a tiny cubicle for 10-hour days with terrible pay and coworkers who won’t laugh at your jokes.
Take a break. Consider the whole picture. Make a list of what you need and want from your next job. The things we should have and would be nice to have are very personal and change as our needs change.
Tips for Making Employment Decisions
Visualize your life (and bank account balance) six months from now. If greatly improved, this job could be a perfect fit. If not, you may need to keep looking. Use this three-part job offer evaluation checklist.
Start with money
Salary is probably your first consideration when determining whether a job offer is ideal. Once you’re offered a salary, double-check your budget to ensure it’s enough.
This is especially important if the job requires a move or a major change in your commute. Will your trips be longer? Will this require more gas or taking a train or a bus? How much will it cost?
After calculating those expenses, ensure you have enough money to contribute to things like your pension fund or savings account, even if it’s a relatively small amount.
Other financial aspects to consider when evaluating a job offer:
- Bonuses. Is there a login bonus? Is there an opportunity to earn performance-based bonuses?
- Health insurance and welfare benefits. Analyze the advantages they offer you with private health insurance, physiotherapy sessions, or gym attendance.
- Retirement. Consider your contributions, employer matches, elimination periods, vesting schedules, and pre-tax savings.
- Profit sharing or stock options. Ask for details and deadlines if this is part of your compensation plan.
- Relocation assistance. If you have to move for this job, will the company pay all or part of your expenses?
- Daycare or childcare reimbursement. Is there daycare on-site or a childcare subsidy?
- Supplementary benefits. Supplemental or voluntary benefits include cancer insurance, life insurance, identity theft protection, or legal services. Some companies also offer other incentives, such as free bus passes.
These offerings may sweeten your contract or not matter to you. If you live in a city like Madrid or Barcelona, consider parking and transit benefits as cash you save or spend from your payroll. Conversely, benefits you don’t need (like legal or pet insurance) don’t add value to the job offer.
Think about the company culture.
You’re going to spend a lot of time at this new job. Yes, you must pay your bills but you also want to feel like you fit in. Here are some things to consider.
- Work Environment Ask for a tour, including where you would sit. Do you see yourself working in that space? If it’s a large room with cubicles, is there somewhere to make private calls on your break or lunch? Do the other employees seem happy or overwhelmed? Is there natural light? What is the dress code? Even a virtual tour can reveal a lot about the corporate culture.
- Professional development. Learn about opportunities for advancement, earning certifications, and additional development training.
Consider your needs
Just as office culture is important, so is the balance your work strikes with the rest of your life. When evaluating a job offer, ask yourself if you can spend as much time as you want with your family. Will you be able to travel for fun, or be so tired of traveling for work that you don’t even want to do it?
Whatever your final package, require it all in writing. Your handshake agreement with this boss may not be honored if they leave the organization and a new one comes. This is what you should consider:
- Travel requirements. How much travel time is required of you? What travel-related expenses will be reimbursed? Will you need to arrange babysitting or a pet sitter when you’re out of town?
- I have paid time off, vacation, personal or sick days, and family leave. Find out in advance about the time off policies. Ask about vacation blackout dates, extended personal leave policies, etc.
- Remote work. Will the company allow you to work from home sometimes? All the time?
- Schedule flexibility. Negotiating more flexibility once you’ve started can be difficult, so do it now. You can also check the company’s careers page and social media profiles to see if they mention flexible work arrangements.
Finally, it would be best to remember that evaluating a job offer is not something to rush, especially since you will be spending a lot of time on that job. Your race will give you many options, so it’s a good idea to prepare for a few corners and anticipate as much as possible.
