If you’ve gotten a job offer, congratulations! However, before you automatically say yes – and that might be your immediate reaction – take some time to think about it. Here are five things to consider when you’re evaluating a job offer:
1. Think About the Money: This sounds pretty obvious, but is the salary within your desired range? If it’s not, is it a lateral move or a pay cut? Do some market research before the offer even comes in, so you know what the going rate is for someone with your background and skill set. If the offer comes in low, the time to negotiate is now, rather than just accepting it and hoping you get a raise.
2. Think About the Benefits: Does this offer come with healthcare benefits, paid time off, or a 401k? Are there relocation expenses factored in? If the salary itself is lower than what you had hoped for, but the benefits more than make up for it, it still may be worth considering. Figure out what your total compensation, benefits and all, will be, and that will give you a better picture of what you’re really getting.
3. Think About the Responsibility: Are you ready and able to do what’s asked of you? Do you already have the skill set that’s needed, or are you going to get on the job training? Understand that if you find yourself in over your head a few months down the road, this job might not be as great as you thought it was when the offer came in. If you’re prepared to do what’s asked of you, then it might be a good fit.
4. Think About Hidden Expenses: If your new job is further away than your present one, you could be looking at a longer commute. You may have to factor in child care that you weren’t paying before. It’s possible you’ll need a new wardrobe, or to start buying lunch every day. All of these are hidden costs that you may not have considered, so think about them before you accept. Can you live with them?
5. Think About Your Future: Does this company offer upward mobility, and a chance at promotion in a year or two? Is this an organization you can see yourself with on a long-term basis? If it’s a sales role that’s commission base, is there a tiered compensation structure that benefits you more each year? Keep in mind that by hiring you, this company is making an investment in you, so they expect you to stick around for a while. If you don’t think you can do that, you may want to pass on the offer.