When you get a job offer from an employer, they likely love your character and attributes. Out of all the candidates that were interviewed, you are the one who received the ultimate prize. You are the one who met or exceeded their expectations.
And this gives you some leverage when it comes to evaluating or negotiating the offer. It’s the best time to increase your salary and enjoy additional benefits such as paid leave and remote working together with other specific employment terms. So, what is the process of evaluating a new job offer? How do you know whether the offer is good for you?
The first step
Whether you received your first job offer or need to understand the process of accepting or rejecting a job offer, we are here to help you.
Here are some of the things you should do immediately after getting the job offer:
Gratitude is key: As we said earlier, the employer chose you over other candidates. Therefore, showing a little gratitude won’t harm you in any way- even if you are not excited about the terms of employment or the opportunity in general.
Research extensively: You need to know your market value by visiting salary review sites like Pay Scale and Glassdoor to find out what other employees in similar positions and locations are earning. Gathering this information will help you make informed decisions during the negotiation process.
Get your questions answered: Did you have questions that you forgot or feared to ask during the interview? Now is the best time to do so. The more information you have about this opportunity, the easier it will be to build a strong case when you need to during the negotiation process. Getting answers will help you know whether the job or the organization is ideal for you.
Take time to think over the job offer: You shouldn’t rush into accepting or rejecting a job offer without taking time to think. Acting without thinking is one of the leading causes of failure and dissatisfaction in life. Take your time, but don’t make the employer wait forever. Most importantly, don’t let your loved ones or employer push you into making a decision.
List the advantages and disadvantages: Creating a list of all the pros and cons of the job reduces the risk of missing any essential factors that you should have in mind when making your decision. Drawing up this list will enhance your clarity and increase the chances of making the right decision.
Evaluating the job offer
Here are some of the things you should consider when evaluating your job offer. We’ll also share with you a few questions that you should ask yourself during this process:
Salary: Are you comfortable with the salary? Is it equal to your qualifications and skillset? How often does the organization review salaries?
The job: What will be your duties and responsibilities? Are you going to love the daily duties of the job? Are there any challenges? Do you have enough responsibilities? What is the position’s history? What was the predecessor’s predicament?
Bonuses: Will you be receiving bonuses regularly? Does the organization provide bonuses based on performance?
Life insurance: What medical and life insurance is offered? How much will you have to pay?
Pension schemes: What does the organization contribute towards your retirement?
Stock options or profits: Is there a strategy in place to give stakeholders including employees a share of the organization’s stocks or profits? Relocation: If you are transferred abroad or to a different city, will the organization pay for your expenses partially or in full? Is the cost of living high or low? Will you be provided with temporary accommodation?
Childcare reimbursement: Does the organization offer subsidized childcare? Work environment: Do the values of the organization match with yours? What kind of atmosphere is in the workplace? What do you think of prospective supervisors and co-workers? Can you visualize yourself spending time with them after work? Will you be welcomed in the workplace? Professional development: Are there any opportunities to advance your career in the organization? Will you receive additional training and development?
Commute: Will the commute be long? Will this require more gas or taking the train or bus to work? How much will this cost? Will you be reimbursed for your transport and accommodation expenses?
Paid and sick leave: Does the organization offer more leave than the minimum including paternity, maternity and adoption leave? Are you entitled to it on the spot or will you be required to work for the organization for a specific period before becoming eligible? Are there any vacation dates like Easter or Christmas?
Working remotely: Will the organization allow you to work from home a couple of days a week? Will you be provided with the appropriate tools and reimbursement for your expenses such as internet connection?
Other perks: Does the organization offer other benefits such as cycle to work schemes, gym membership, free lunches, or tuition reimbursements?
Personal needs: Does the job meet most of your financial and personal needs?
Evaluating several job offers
You didn’t just manage to get one but multiple job offers! This shows that you are in demand. And it’s not a bad idea to let all these organizations know that you are considering their offers. However, don’t try to pit the organizations against each other since it can backfire. If you are evaluating more than one job offer, you need to go back to the criteria of choosing the ideal employer. How do the organizations score?
Remember, you need to choose an organization that not only offers a decent salary and other perks but also makes you happy and provides opportunities for professional growth. Consider other aspects apart from salary when making your decision. Remember, don’t take too long to make your decision as the organizations may decide to hire some else thus leaving you with a few or no job offers.
Negotiating a job offer
If the job and employer are a good fit but the offer doesn’t meet your expectation, you should think of proposing a counteroffer. Ensure that you have a good reason for negotiating additional benefits or a higher salary. Don’t negotiate without an end in mind.
You need to understand that situations are different. An employer may be unable or unwilling to increase your salary especially if their enterprise is small. Knowing the lowest amount, you can accept is essential. If the organization can’t offer you your dream salary or additional benefits, avoid pushing it. Decline the offer politely and walk away.
Accepting a job offer
If the job meets or surpasses your expectations, you don’t have to wait to accept the job offer. Even you’ve accepted the job verbally, you need to confirm your new position by sending a job acceptance letter. This will help you in avoiding confusion about the terms of the offer while expressing your enthusiasm and gratitude for the opportunity. In the letter, you should include:
- Gratitude for the job opportunity
- Acceptance of the job offer
- Reiteration of the terms of the offer
- The reporting date
Remember to keep it simple and brief. You don’t have to include every detail about the terms of employment. Also, proofread and edit the letter to eliminate spelling and grammatical errors. Finally, never accept a job offer via social media or SMS. Always do it via a good letter or email.
Rejecting a job offer
If the job offer doesn’t meet your expectations or you’ve received another better offer, you should consider rejecting the job offer. However, you need to do it politely and professionally. Remember, do not burn any bridges that you may need to use later in life. In your letter or email you should:
- Show gratitude
- Explain why you are rejecting the offer briefly and concisely
- Stay in touch
You should never leave your employer hanging. As soon as you realize you won’t be accepting the job offer, write and send this email.
A couple of things to remember: Here are a few essential tips that you should use when you’ve received a job offer: Write it down: While your job offer doesn’t have to be in writing, it’s always important to give everything in writing. You also have the right to ask for this. Notify your current employer: If you have been employed elsewhere, ensure that you notify your boss as soon as you receive the job offer. Always do this after you’ve met all your prospective employer’s expectations. After notifying your current employer, you need to write a resignation letter. Your rights matter: After accepting an unconditional job offer, your employer doesn’t have the right to withdraw it without a logically sound reason. You can sue them for breaching the contract. Conclusion
Now that you know how to evaluate, negotiate, accept, or decline a job offer, it’s time to take action. Don’t forget to share any additional tips that you may have in the comments section!