The Pongo Blog
How to Choose the Best Job Offer, Part I
September 12, 2008 (10:00AM) by Brianna Raymond, CPRW
Wahoo! You got an offer! Your job search and interviewing strategies paid off. But wait ... what's that? You have two offers? Three? Holy cow!
If this is the boat you're in, consider yourself lucky. While getting even one offer is great news, having more than one gives you a safety net, increases your negotiating power, and raises your sense of control over your future. You get to choose which deal is the sweetest, and ask for more of what you want if one offer isn't good enough to win you over.
To give you an idea of how you can sort out the details, I've created a handy chart to compare the terms of two hypothetical job offers.
| |
Offer #1 |
Offer #2 |
Personal Notes |
| Wage / Salary |
$42,000/year |
$46,000/year |
|
| Bonuses / Raises |
Merit increase probable after annual performance review |
Merit increase probable after annual performance review |
|
| Paid Time Off |
2 weeks' vacation, 5 sick days,
11 paid holidays |
2 weeks' vacation, no set number of sick days, 7 paid holidays |
|
| Insurance |
Health, life, dental, vision, prescription, reimbursement account |
Health, dental, vision, prescription, long- and short-term disability |
Need life insurance to protect family |
| 401(k) Contributions |
Enroll after 6 months, company match up to 6% |
Enroll after 90 days, company match up to 3% |
|
| Tuition Reimbursement |
N/A |
N/A |
|
| Stock Options |
Available after one year |
N/A (Non-public company) |
|
| Relocation |
N/A |
N/A |
|
| Commute |
25 minutes to downtown |
35 minutes to small town |
Potential for heavy morning traffic downtown - could take subway |
| Opportunity for Advancement |
Title change flexibility only, unless higher position opens |
Non-hierarchical structure but ability to move within departments |
|
| Level of Independence |
Mainly independent, report directly to manager |
Report to senior level, who reports to manager |
Closer supervision with #2, not sure I'd like that |
| Cost of Living |
Manageable |
Manageable |
Would be more comfortable with higher salary for higher 401(k) contributions |
|
But don't stop there. Other important factors to consider include: Hours, work environment, boss and coworkers, job security, training and career development, and work-related travel, if any.
So now that you've mapped out the differences, how do you determine what the best fit is for you?
- Identify Level of Importance – Is a higher salary more important than life insurance? Is a longer commute to a small town that big of a deal? Is moving up the corporate ladder more important than lateral transitions?
- Identify Most Attractive Offer Overall – Which offer, before any negotiating, meets most of your needs?
- Identify Areas of Negotiation – Let's say you consider Offer #2 more attractive overall, but you could really use employer-paid life insurance and would prefer more paid time off. With another offer to fall back on, you have the upper hand in negotiations and if the company really wants you, they just might step up to meet your needs.
In the end, your decision may come down to something as simple as which offer "feels" right. Think it through, weigh the pros and cons, and trust your gut.
When you've made your choice, follow up with How to Choose the Best Offer: Part II, in which I address how to reject an offer without burning bridges.
Related Links
How to Choose the Best Job Offer, Part II
How to Choose the Best Job Offer, Part III
Yo, Brianna, I think that the company's culture can also be pretty important when evaluating multiple offers. Things like dress code, on-site gym facilities, is there an on-site cafeteria, can I get free coffee or soda, etc. Kinda falls under "work environment", but then again, maybe not.
I know that for me, at least, in many cases things like that can be more important than salary.
Posted by: Justa Dude | September 12, 2008 at 2:36 PM | Quote This Comment
Justa Dude makes a great point. The culture is so key for me, the mother of 3 children and head of household. When there is snow and school is cancelled, I have 3 elementary school children that must be transported to multiple lcoations before I can get to my office. Unfortunately, the pediatricians also work 9-5 so again, guess what? I use vacation time for much of this but my boss recognized that I also needed a "real" vacation day and told me to take a couple for me, not for the kids and the dentist and the doctor and... He made my day.
Posted by: Justa Dudette | September 21, 2008 at 9:39 PM | Quote This Comment
I just accepted a job. However, the next day another employer whom I really would prefer to work for, has contacted me and may offer me employment. If that is the case, how does one tell the first employer thanks but no thanks?
Posted by: Sally Krech | March 02, 2011 at 2:31 PM | Quote This Comment
Hi Sally,
You should check out the second post in this series: http://www.pongoresume.com/blogPosts/210/how-to-choose-the-best-job-offer-part-ii.cfm.
First, I would recommend waiting to reject the first offer until you have received the better offer (don't plan on them extending the offer if there's a chance they won't). Then, accept the second offer and let the first employer down easy. Just be honest about the new opportunity and thank them for their interest!
Good luck! Let us know how it goes.
-Brianna
Posted by: Brianna | March 03, 2011 at 11:13 AM | Quote This Comment