Employment Spot

Evaluating Job Offers - before you say yes

The search is finally over. You’ve received a job offer and it sounds too good to be true. Before you scream "I accept," step back and think. There are many factors to weigh before deciding whether to accept and on what conditions.

When you receive the initial offer, ask for time. "Students have a goal of getting a job and getting it quick," said Mark Gasche, associate director of recruiting at the Career and Placement Service for the University of Chicago. "Often they forget the crucial step between the offer and the acceptance."

Most employers will not retract the offer if you ask for time to mull it over, Gasche said. Employers should give a minimum of one to two days, but a week is an acceptable request. If potential employers question your motives, explain that you want to make the best decision possible. Still waiting to hear back from another company? Check out Virginia Tech’s tips on requesting more time.

The Interview

The evaluation process begins during the interview. If you request the right information during the interview, you’ll be better equipped to make a decision later. Virginia Tech’s career services department offers sample questions that can help you evaluate a job during the interview.

When the employers asks if you have any questions, have some prepared. This is especially important with dot com companies. "With established companies like Andersen Consulting, you know what you’re getting into," Gasche said "With dot coms, job titles change monthly and the company’s future is riskier." He recommends asking the potential employer where they get funding, what the business plan is and how they see the future of the company.

Salary

There’s more to happiness than money, but bills still have to be paid. Know what others in your field are making by searching the Bureau of Labor’s data on occupational wages by state.

For tips on negotiating your salary, check out Job Stars’ tips on negotiating salary when accepting a job offer. Make sure the employer states a figure first, or you’ll lock yourself into a set amount.

The Organization

First, research the organization on the company Web site. You can gather basic information during the interview, but be wary of "buzzwords" that recruiters think potential employees want to hear. You can get background on an organization by contacting its public relations office or by exploring the Internet.

Long-term projections for a company’s industry can provide a good indicator for the future of your job. Check out the Bureau of Labor Statistics’ projections of employment and output for more than 200 industries.

The Occupational Outlook Handbook from the Department of Labor Statistics also provides job outlook and earnings information. The handbook recommends additional criteria to consider, such as weighing small firms against large ones and established organizations against start-ups.

The Job

No matter how many perks the job offers, you will be unhappy if you dislike the day-to-day work. Ask specifically what the job entails, what your responsibilities will be and what they expect you to contribute to the company. Fancy titles like "administrative distribution technician" may translate to "incoming fax distributor."

When asked what gave them the most job satisfaction, most people ranked "I love what I do" over "the amount of money I make" in an informal poll at About.com. Cast your vote and view the current results.

The Environment

Another important factor to consider is the office environment. One of the best ways to get a feel for your new job is too talk to current employees and tour the office.

Consider:

• Hours
  Are you expecting a 9-to-5 job, or are you willing to work overtime to meet deadlines and production goals?
• Attire
  Are people wearing pinstripes or tennis shoes?
• Office Space
  Where will you be working?
• Co-workers
  Would you feel comfortable working with them on a daily basis?
• Employers
  Would you feel comfortable working for this person?
• Finally, you should consider whether the organization’s interests and beliefs are compatible with your own. It’s easier to apply yourself to the work if you are enthusiastic about what the organization does. If the company tests on animals and you’re a vegan, you may have trouble doing your best.

Benefits

Benefits are an important consideration when deciding on a job, and they vary a great deal from company to company. Some salaries are non-negotiable. If you can’t get as much as you think you deserve, you may be able to extract it from signing bonuses, training programs, or reimbursements for moving costs.

Negotiating stock options? CareerJournal.com offers a helpful Q&A section on the subject.

Cost of Living

If a move is involved, you may be getting less than you bargained for. Be sure to weigh the salary offered against a city’s cost of living. The Salary Calculator at Homefair will show you how much you’d have to make in a new town to equal what you make now.

Also consider whether moving will take up a significant chunk of your first paycheck. The company may pay some or all of the moving costs, or they may offer a signing bonus to compensate. Some companies will also help with the house/apartment hunt.

Commuting costs can also eat away at your time and salary. Is a longer commute worth it, or will you be pulling your hair out on the train after the first week?

Advancement Opportunities

Will there be a chance to move up in the company? Will the skills acquired from your new position contribute to your career overall? Where is the person who had the job before you?

Finally, ask about salary review. Most companies evaluate your performance annually. Are there opportunities for a salary or benefit increase after the first evaluation? If you aren’t able to negotiate the starting salary you originally desired, you may have opportunities for salary increases or promotions after the first six months.

Putting it All Together

O’Brien & Company offers a worksheet to help you compare your current position with a new one and tips on weighing the pros and cons. But it’s not all formulas, worksheets and lists. "Some of this decision is gut, some of this is feel," Gasche said. "There is a logic piece and an emotional piece, and these are both important."

Once you’ve made the big decision, let the employer know politely and as soon as possible. It’s important to get things in writing. For tips on writing acceptance and rejection letters, check out the Career Center’s sample letters.

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