Congratulations! You have just reached that most desired step in the job search progress: an offer! Take some time to celebrate and pat yourself on the back - you deserve it! But after all the confetti falls, you may be wondering: What do I do next?
Just like every other stage in the process, successfully evaluating and negotiating a job offer requires preparation, planning, and patience! To get the inside scoop, join Christine Routzahn, Director of the UMBC Career Center for the upcoming virtual Keys to Success: Evaluating Job Offers workshop on Monday, October 10th from 12:00-1:00pm. For more information, click here.
In the meantime, below are some key considerations on how to read the signs when evaluating job offers to consider the whole package:
- Salary: This is often the first thing that we think about related to a job offer, but accepting the offer is more than just about money! That being said, your anticipated salary is a very important part of the process, so you will want to know what you need to make to cover life expenses, what you would like to make to support long-term goals, and what you can expect to make in a certain occupation. When all these things are in alignment, you can be sure the offer is a good fit.
- Location: Where you work is just as important as the type of work you will be doing. Consider what your typical commute to work would look like and how that impacts your lifestyle, i.e. will you have to wake up early or get home late as a result of a long commute?
- Benefits: Benefits include everything ranging from health care coverage to retirement contributions to tuition support for further education. Carefully consider the benefits - both monetary and non-monetary - when considering a job offer. Monetary benefits, such as yearly bonuses or stock options, as well as non-monetary ones like telework flexibility, job title and advancement potential, and professional development opportunities can make a disappointing salary offer more appealing.
- Company reputation: Securing a position with a desirable institution in your field can provide a jumpstart to your career that may be worth trade-offs in other areas. Additionally, a company with a secure and stable employment outlook can provide priceless piece of mind - and the assurance that you may not have to repeat this process in the near future!
- Co-workers and work environment: Lastly, you will want to consider the future colleagues who you met during the interview process and all that you learned about the company culture. Who we work with is often as influential as what we do - so accepting an offer that will position you within a team or environment that will allow you to bring your whole self to work and provide opportunities for personal and professional growth can be hard to quantify!
Once you've considered these factors - and others that are important to you - you may want to start the negotiation process. Even if you plan to accept the offer, it is perfectly acceptable to ask for time to evaluate the whole package and make sure it fits your expectations. Be sure to communicate the timeframe that you require - i.e. 24 hours or until the end of the week, etc.. - to determine if this also aligns with the employer's time frame to fill the position.
If you find that you do want to negotiate some aspect of the offer, you may want to:
- Show enthusiasm for the position
- Clearly communicate your strengths and value to the employer
- Lean on the facts and reflections gathered at an earlier stage to present an convincing argument
- Embrace flexibility and clearly define your minimum requirements for acceptance in addition to your ideal goals.
- Communicate openly with the employer during the process and view the negotiation as a partnership. After all, you wouldn't have gotten to this stage if both you and the employer didn't think it would be a good match!
- https://www.mindtools.com/pages/article/evaluating-job-offer.htm
- https://hbr.org/2017/04/how-to-evaluate-accept-reject-or-negotiate-a-job-offer
- https://www.indeed.com/career-advice/starting-new-job/job-offer
As always, please feel free to check out the resources on negotiating and evaluating job offers on our website or stopping by our offices on the 2nd floor of the Math and Psychology building, Rm 201. We hope to see you soon!