Evaluating the Offer Congratulations! After all your work, you have received a job offer. Evaluating an offer requires that you consider what is important to you in a job.
No matter how pleased you are with an offer, it is wise to delay your acceptance in order to objectively evaluate the offer in relation to your personal and career goals. When the initial offer is made, ask for the latest reasonable date by which you can reply. CSO requests that all employers abide by the National Association of Colleges and Employers Guidelines which call for a minimum of 3 weeks for you to decide to accept or reject an offer. For more information see our Employer Recruiting Guidelines.
For most entry-level employees, the responsibilities of the first position and career growth potential are more important than the salary in comparing offers. Advancement opportunities can make an initial salary differential of a few thousand dollars negligible within a few years.
Some or all of these factors may be relevant for you in evaluating a job offer:
Responsibilities and tasks of the job Working conditions (colleagues, supervisor, size of organization, organizational culture) Training and development opportunities Salary, salary review and increases Benefits (relocation allowance, vacation, leave, insurance, retirement savings plan, profit sharing, tuition reimbursement, professional membership, and association activities, for example) Geographic location; cost of living Nature and frequency of performance reviews Number of hours expected in a typical work day/week Parking/transportation costs Travel on the job Lifestyle that the job will involve Negotiating a Salary Package Negotiating an offer can include salary, start date, benefits, job responsibilities, title, relocation allowance, and signing bonus. It is also common to negotiate the time frame in which you must accept or reject the offer itself. A job offer is usually initiated over the phone and should be confirmed in writing or in personal conference. Assess whether the compensation package meets your financial needs and whether it is at the market or going rate for your particular position, in your particular geographic area. Some web sources that you may want to view for salary negotiation strategies are:
http://jobstar.org/tools/salary/negostrt.htm http://jobstar.org/tools/salary/chapman.htm http://www.nmt.edu/~shipman/org/noel.html http://www.adguide.com/pages/articles/article257.html http://interview.monster.com/encore/negotiating Salary.com
If the salary is not at the market rate, you may wish to inquire if the salary is negotiable and work to negotiate it to the market rate. When evaluating a salary offer or choosing between offers, consider the net value of all monetary benefits and expenses. Fringe benefits, such as health insurance, retirement contribution, and tuition reimbursement for graduate studies, can equal 25%-40% of the total salary package. Job-related expenses, such as formal business attire, safe and convenient housing, and transportation, can significantly decrease your net income. Salary calculators, cost of living, and relocation expense estimates can be found on Web sites such as http://www.homefair.com/home/ and http://www.accra.org/ .
In certain circumstances negotiating salary as an entry level employee is not possible immediately. But sometimes 60, 90 and 120 day performance reviews and raise possibilities are available. If salary negotiations are not an immediate option it is important to ask about the time frame and frequency of future negotiation opportunities.
If you have other offers:
Explain this to the employer. Reinforce your interest in the offered position along with your need to evaluate carefully the others as well. You can explain that this process will result in a more informed answer and a more confident employee. In many cases, it is not possible to negotiate salary for an entry level position, but it may still be appropriate to follow up with questions about a signing bonus. Also potentially negotiable are a 60-, 90- or 120-day performance review and raise; annual bonuses; and possible supplements to salary such as association membership, tuition reimbursement for future education, or travel benefits. Keep in mind the importance of preserving your positive relationship with your future employer throughout the negotiation process.
Delaying Your Response
If you are not ready to accept an offer, it is appropriate to ask for more time. You may have other offers to consider or simply be unsure of whether the offer matches the expectation you have for the job. While these are valid reasons to pause, companies may pressure you to make a decision. You need to be specific in your reasons for needing more time. Ultimately the match between you and the employer will be best if you can take the time up front to evaluate all opportunities. The employer does not want a dissatisfied employee who made a hasty decision, nor do you want to regard your decision with regret. Accepting the Offer When you accept the offer:
Verbally confirm your acceptance of the offer, and follow up with a written confirmation letter which reiterates salary, start date, and position title. Express your appreciation for the offer and state that you are looking forward to joining the organization. If applicable, specify when you will meet additional conditions of employment, such as a completing a medical exam or sending required documents. Withdraw your candidacy from all other organizations. If you are participating in on-campus recruiting, notify the staff of the Career Service's office.
If you do not have other offers:
Explain to the employer that you are still investigating other opportunities and arrange a time for you to get back to them with an answer. If you find that you need even more time, call your contact to see if it is possible to negotiate an even later date. Contact the organization by the agreed upon time so that they are able to pursue other candidates for the position should you reject the offer.
Declining the Offer
Verbally decline the offer, then also send a well-written letter thanking the employer for their efforts in recruiting you and for the offer. Explain why the offer you are taking better matches your needs or desires at this point in time. Keep the door open for future associations with the firm by expressing your appreciation of the opportunity to interview. Ethical Considerations
Accepting a job offer and continuing your job search for a better offer may seem like savvy strategy. On the other hand, you have made a commitment to an employer. If the employers in question are Middlebury alumni working in the same field, they probably will know each other and you may lose both offers. Your acceptance to any employer is a commitment that implies you have ended your job search and will soon be a part of that organization. Remember, how you handle such decisions is a reflection of your values, priorities, and ethical/professional conduct. Please contact CSO if you have individual questions about evaluating and negotiating any aspect of your offer.