Surviving the job application process and multiple rounds of interviews is no easy feat, so when it results in an official job offer, you may be understandably over the moon. Before you jump for joy and update your social media profile, take some time to consider all the factors that may come with the new job. Ask yourself the following four questions before accepting the job offer, to determine if it's really right for you.
1. Is the Compensation Enough for Me?
Salary is one of the most crucial elements of any new job offer. Is the company offering you a fair salary based on the position, the location and your work experience? Can you live comfortably and cover all of your expenses at this salary level? Whether you should choose to accept the salary first offered or negotiate is determined by your current position. If you've been unemployed for a while and just need to get back on your feet, you may find it better to take what the company offers. If you have a job but want a better opportunity, you have a little wiggle room to be more selective and possibly negotiate.
2. How Are the Benefits?
The benefits a company offers are just as important as your potential salary, so read over the benefits package carefully. Consider the price of health care and other insurance, the depth of coverage available, retirement plan options and stock options. Compare the benefits package of the job offer to the one your current or former company offers. If you get less in terms of benefits, this may be an area where you can negotiate a higher salary.
3. Are There Hidden Costs?
It's easy to get caught up in the salary and benefits that come with a new job offer, but there are potential costs as well. Is this new job farther from your home than your last one? If so, that means more money spent on gas and car repairs, as well as more time commuting. If the job comes with a formal dress code, consider the money you'll need to spend in order to upgrade your wardrobe. If it involves lots of travel, does the company expect you to pay out of pocket before reimbursement? These are the unforeseen costs you need to think about before celebrating.
4. Are There Other Offers to Consider?
If you find yourself fortunate enough to choose between competing job offers, count your blessings. Compare every detail of each job offer, and come up with a list of pros and cons for each. If you don't have other job offers to consider but are still interviewing, evaluate the strength of those prospects. Realistically, a concrete job offer trumps an interview, even if the interview is for your dream job. Consider all options carefully before moving forward.
Although receiving a job offer may seem like the last step in the hiring process, you have some serious factors to consider before accepting. Give yourself plenty of time to come up with the answers to these questions so you can have a clear understanding of what this new job means for your future.
Photo courtesy of Stuart Miles at FreeDigitalPhotos.net
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