However, the other parts of a compensation package are almost as important. Your paycheck will cover your monthly bills, but you also need to consider employee benefits, perks, and the non-tangible things that make a job a good one. Sometimes, benefits can even carry more weight than salary when you’re evaluating whether to accept a job offer. Here are some things to consider before accepting an offer, including what to look for when evaluating job offers and when it can make sense to turn one down. There are other important factors to consider as well. Here’s an overview of what to look at when you’re considering whether to accept an offer for a new position. Salary: base salary or hourly rate, commission, bonuses, projected salary increases, potential overtime, and other compensation. Benefits and perks: paid time off, sick leave, family leave, health insurance, life insurance, retirement plan, stock options, tuition assistance, and other employee benefits. Opportunities for career growth: opportunities for advancement, promotions, education, and learning. Work environment: remote vs. in-person, schedule, work hours, workplace, teamwork, and organization structure. Company culture: management style, values, mission, ethics, and goals. When considering a job switch, it can be helpful to make a list of pros and cons—a list of reasons to accept or decline a new job or a list of reasons to stay at a current job or move on. Also, consider the job description and whether you would be happy working at this job with this company. Weigh the pros and cons and take some time to think about the offer. You don’t have to say yes right away if you are going to accept. Ask the employer when they need a response, and use the time at your disposal to make an informed decision.
How To Compare Salaries
When you’re not sure whether the salary is appropriate for the job, you can use some salary tools to check out average pay and compare salaries:
CareerOneStop Compare Salaries Glassdoor Know Your Worth Tool Indeed Find Salaries LinkedIn Salary
Evaluating benefits is a personal decision. The benefits that you need may not be important to another candidate. There are some benefits that are must-haves and others that you would be happy to have but that aren’t essential. It’s important to take the time to review what you’re offered to make sure it’s what you and your family need at this stage of your working life. Compare the plan you currently have with what you’re being offered to determine what you’re really getting. Employer match, vesting schedule, and investment options are some important factors to consider. When considering or comparing a compensation package with stock option benefits, be sure you understand exactly how stock options work and what they might be worth in the future. If you’re not sure about the salary, consider creating a budget so you’ll know exactly how far your paycheck will stretch each month. If it doesn’t stretch far enough, you’ve most likely got the information you need to make a decision. Some compensation packages are negotiable, others aren’t. One of the best ways to find out is to ask for a meeting or call to discuss the offer. That way, you can carefully approach the employer to see what room there is to negotiate a better offer. If you need more details, check with the person who offered the job to get as much information as you need to make an educated decision. When you need to buy some time, you could emphasize your enthusiasm but ask if you can talk to a future team member or even shadow someone in the job. This may take a week to schedule, giving you more time to decide. There’s nothing wrong with saying no, though be sure to decline politely. In fact, it’s better for both you and the employer if you decline the job rather than accepting it and having it not work out. Take the time to formally accept or turn down the position, and do it gracefully so you don’t burn any bridges with the prospective employer.
