Evaluating the job offer.

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[QUOTE]As we continue with this week’s series on how to approach the job search, let’s look at what to do with a job offer. Yesterday was interview-day and all went well, so well in fact that the company is prepared to make you an offer. You have already decided that it’s a company that you could work for, your supervisor and the employees seem friendly and engaging, and its location meets your commuting requirements. What you don’t know is what salary and benefits package they will offer. Here are a few items that should be considered when evaluating the job offer:

Salary offer

Money isn't the only consideration, but, it is an important one. Is the offer what you expected? If not, is it a salary you can accept without feeling insulted? Will you be able to pay your bills? If your answer is no, then don't accept the offer, at least right away. Make sure that you are getting paid what you're worth and you are happy with the compensation.

Allpinkslips' offers you a wide range of Salary Surveys.

Investigate Benefits Coverage

It is much better to be fully informed before you accept a position than it is to have an unpleasant surprise later on. For example, if you're not married and want to cover your partner, will your health insurance plan insure him or her? Perhaps, if domestic partner coverage is provided. However, some plans only cover same-sex partners, not opposite-sex partners. Even though this sounds discriminatory, and it's certainly not fair, a federal court has ruled that it's legal.

Bonuses

Bonuses can add money to your total compensation package. Employers should tell you about the different bonuses offered, which can be based on personal performance or be relative to the company's profit. Sometimes a bonus simply will be a set percentage of your base pay. If you were offered a signing bonus, be sure to ask about the details, such as the date you will receive the pay.

If an employee referred you to the company, then he or she may receive a referral bonus, which is contingent upon your employment. This means you may have to be employed at the company for a specified period before the bonus is granted.

Vacation time

Don't forget to ask about the all-important vacation time. Always ask when you are in doubt - and never assume - because policies differ from company to company. Generally, every employee receives two weeks of vacation time each year; the number is usually higher for senior-level positions. Vacation time also is negotiable if you are offered less time compared with what you have at your current job.

Two benefits often overlooked when evaluating a job offer are sick days and personal days (sometimes called floating holidays). These benefits should be stated in the offer letter, and you should clarify when you can access these benefits. Usually, you must wait three months before you can take a vacation day or a personal day, so if you know ahead of time about an upcoming engagement, negotiate now so that there will be no surprises later. Plus, this is proper business etiquette.

Growth opportunities and training

“Once you have a firm grasp of the role you’ve been hired in to, you’ll undoubtedly want to take on additional responsibilities. But, not every organization is set up to provide opportunities for growth. And, at no point is training more important than when you’re first launching your career. The training doesn’t have to be formal, but a little bit of structure is usually a good thing,” said Shawn Graham, author of “Courting Your Career: Match Yourself with the Perfect Job.”

Tuition reimbursement

Am I eligible for tuition reimbursement? Education/training courses - Is there an in-house training center that offers free classes? Is there approved release time to attend classes? Will the company pay if I take professional development/technical classes off-site (not under tuition reimbursement plan)?

Professional association dues - Do I qualify for payments for dues?
Memberships & subscriptions -- What kinds of memberships (professional associations) and subscriptions to professional periodicals will the company pay for?

Job Perks

When evaluating your compensation package, don't forget to include all the "extras." Does your company have an on-site fitness center or do they subsidize off-site gym memberships? Is there a subsidized employee cafeteria? Does the whole staff get taken to Hawaii every year for a sales meeting? Do you have an expense account? Will they pay for meals you eat while working overtime? Is there free dry cleaning? Will they pay for you to go back to school to take continuing education classes or to get another degree?

Retirement

Does the employer have a retirement plan? How is it structured? Do you have to contribute to it? Are there any restrictions on accessing the funds in your retirement account? At what age can you begin receiving retirement benefits?

Use Allpinkslips’ Dealing With Job Offers area as a resource for evaluating a job offer.

As you can see, there is more than meets the eye when it comes to a job offer. So be certain to know what you are being offered before negotiating, accepting or declining any job offer. Tomorrow I’ll discuss those options. When it comes to a job offer, it’s better to be aware of the salary and benefits package before you accept a position than to be surprised and disappointed after you start that new job.