How do you evaluate a job offer
There are different approaches you can take when evaluating a job offer. It shouldn’t have to be that difficult to decide whether you’ll accept the offer or not. Are the pros outweighing the cons? Is the job offer in line with your expectations?
Alright, so let’s not pretend that i’m an expert in this… I have however been fortunate enough to receive job offers where i had to either accept, negotiate (you should always do this!), or decline. I am anxious every time but in the end i feel good about the decisions i’ve made. That said, what i do when evaluating a job offer is to make a pros/cons lists. I try to be as honest with myself as possible when making these lists simply because i don’t want to “mental gymnastic” myself into either declining or accepting the job. I want a neutral look into what the pros and cons of the opportunity really is. 
Once i’ve made those lists, i speak to one or two people whose opinion i trust. I want to hear their opinion on what they think the opportunity looks like. They may share my opinion or not. However i think it’s healthy to talk through the opportunity with someone you trust has the ability to give an objective opinion.
I came across an article from Mindtools.com that explains 8 different criteria on how to evaluate a job offer. In a nutshell, here are the criteria:
1. Research Your Prospective Employer
Your prospective employer has worked hard to assess your suitability for the job. But have you thought about whether it is suitable for you? Take some time to “play detective” before you accept the offer, and investigate whether the company is the right fit for you. Try to find out how stable the company is, what its market position is, and what its future prospects are. You may not have a crystal ball, but you’ll want to feel confident that the organization you’re joining isn’t about to go bust.
2. Salary
Many people see salary as the key factor when they’re deciding whether to accept a job offer. If you’ve been offered a commission-based salary, are the bonus structures realistic? It might be worth asking your prospective employer how often people reach their targets, or whether there are any clauses relating to the bonus structure.
3. Benefits and Perks
Benefits can make up a substantial chunk of your compensation package so it’s worth assessing this part of your contract carefully, as their value is often less obvious than the value of the salary. Benefits and perks differ from company to company so, if details of your package aren’t included in your offer letter, ask to see a full list of the contract terms. Find out what benefits you’ll be eligible for (and when), and assess their value for you.
You might want to consider the following questions when assessing the value of your benefits package:
- Leave – What’s the vacation and sickness allowance?
- Health Saving Account contributions – What are the premiums? Is dental and ophthalmic cover included? When will you be eligible?
- Stock – What stock options are available? Are stock units given as part of a bonus or do you have to be working at the organization for a certain length of time before you are eligible?
- Incentives – Is the incentive scheme based on personal achievements or the company’s wider performance?
- Insurance – What insurance plans are offered? How much will they cost?
- Pension – What contributions will the company make?
- Profit sharing – Is there a plan to give employees a share of the company’s profits?
- Use of a company car, cellphone or computer – Are these provided? If so, will these expenses be tax refundable?
- Other perks – Are any additional benefits offered, for example gym membership, telecommuting, daycare, travel costs, sabbaticals, etc?
4. Career Path
Getting a new job might be your priority right now, but you still need to think carefully about how it will impact your long-term career prospects. If you accept a job offer on impulse and it doesn’t work out, you might end up desperate to leave. Repeat the same mistake again, and you could find that your résumé becomes littered with several short-lived jobs. This could make you look unreliable to potential employers, leading you even further away from your chosen career path.
If it’s the work itself or the potential career progression on offer that appeals to you – rather than the salary or the benefits – then it’s especially important to consider how the job will serve you and bring you closer to achieving your career goals . Ask yourself whether it will challenge you, expose you to new experiences, and enable you to grow.
5. Your Values
Take some time to think about your personal values and those of the organization. What qualities are important to you in a prospective employer? Do your values align with the company’s?
There you have it – some advice on how to evaluate a job offer. It’s easy for me to write this down, but i know that in reality it’s much harder to execute. I am currently in a situation where i have to decide whether to take a job or not. They have presented their “best” offer so it’s really a YES or NO that i’ll need to give to the company this week. It’s hard. At this point i don’t know what to do but in due time i hope i make the right decision. I’ll keep you posted!
It’s wise to take the time to objectively assess a job offer, and whether it really suits you and your long-term career goals. Remember to look beyond the salary, check through the terms of the offer thoroughly, and assess how the job will impact your life beyond work.
