After receiving a job offer, most people gloss over the actual details.
Caution: Be sure that the offer is in writing, preferably on the employer's letterhead, or it is easy for an employer to deny/forget.
The excitement of having a job overshadows the time it takes to carefully review and consider an offer.
The job offer is often the first step in the negotiation process, and, likely, is not the final offer.
As they say, the devil is in the details. An offer – a GOOD offer – is more than just base salary.
What is agreed in the job interview process may not make it into the job offer letter (location, salary, job level, etc.) regardless of assurances and handshakes. Very carefully read the offer and note what was promised but not included.
How do you avoid this mistake that could mean leaving money on the table? Simple. Follow these key steps in analyzing the job offer:
This is probably the biggest mistake people make. They don’t take the time to learn everything that’s out there – all the rewards they could be getting.
“New hires" assume the company means something they don’t. For example, they assume they will be eligible for a bonus, but then are disappointed to find out they are not eligible.
And you know what happens when you assume. You may be wrong.
There are several terms I recommend having included in all offers (the "must-have’s"). Other elements of the offer will depend on the employer (for profit, nonprofit, private, etc.), industry, and the level of the position (the "nice-to-have’s").
Before you accept an offer – or even negotiate - find out what the offer should include.
Legitimate job offers should have several key components you should review and discuss with the employer before accepting, or signing, the offer:
Particularly if the salary offered is lower than you expect, the "nice-to-have's" can make a compensation package that is acceptable.
Depending on the job, the job's level, and the applicable laws, good offer letters should cover the “must-have’s”, but fewer cover the “nice to have’s,” such as:
How do you find out?
Search Google to learn more about the employer. Ask around.
Get answers to important questions like:
Again, ask around. Some of these questions you can discuss with your employer by asking them more about their rewards programs. Or you can ask friends, colleagues, and experts.
A verbal job offer is not useful or reliable. Particularly if you must quit your current job or invest in moving or making other investments to do this job, get the offer in writing.
Without a written offer, you don't have any real "proof" that you have a new job. The final job offer letter should include everything you have negotiated.
The offer letter is your written agreement regarding the terms of your employment. It also confirms both parties' understanding and expectations regarding the role and how it will be rewarded. Always discuss your questions or concerns on the phone (rather than email or text), and constantly reaffirm your interest in the role and the job. These discussions are the beginning of your relationship and should be positive and professional.
Stacey Hawley is a salary and compensation consultant and career coach. She helps companies reward and recognize their people effectively and helps individuals like you earn more money. You can connect with her on LinkedIn, Twitter, or via her website.
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