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Job Offers and Compensation Packages

Congratulations! You’ve received a job offer. Or, if you’re really lucky, you’ve received more than one. Take a little time to congratulate yourself, enjoy the rush, and call your friends and family. Then it’s time to get serious again, because you’re not quite done.

You should handle your job offer(s) as professionally as you did the job search, and pay careful attention to each step as you decide to accept or reject the offer.

Negotiating Tips

Receiving an Offer

Whether the employer makes you an offer by phone, email, or at an interview, it’s best to remain poised but enthusiastic. Ask for the offer in writing, listing the start date, position, title, duties, salary, and benefits. Even if you’re certain you’ll take the job, ask for time to evaluate the offer.

Evaluating the Offer

Once you have established with the employer the amount of time you have to evaluate the offer, take some time to determine if this is the right choice for you. Even if this seems like your dream job, evaluate it objectively to see if it is really the right fit. If you are leaning toward rejecting the offer, spend time weighing the pros and cons of taking the position, and keep an open mind.

Things to Consider:

  • Does the job fit your values and lifestyle needs?
  • Are you happy with the location?
  • Can you live with the salary and compensation package?
  • Is there room to grow in the position?

Evaluating Salary and Benefits

At this point you need to determine if the salary and benefits offered will meet your needs, how to compare this with any other job offers, and how to negotiate if there is indeed an opportunity to do so. In most entry-level jobs, there is not much room for negotiation. This will be more likely in your second or third job. You may be able to negotiate for more salary or different benefits, but this will depend on your ability to handle some risk.

The following articles offer excellent guidelines and tips on the process of evaluating compensation packages and negotiating salary:

JobWeb.com:
Evaluating Job Offers & Negotiating Salary

Quintessential Careers:
Evaluating the Entire Compensation Package
Salary Negotiation and Job Offer Tools and Resources
Salary Negotiation Dos and Don'ts for Job Seekers

In addition, the following Web sites will help you research salaries in your field.
Career One-Stop
CollegeGrad.com
Salary Calculator
Salary.com
Salaryexpert.com

Accepting an Offer

If you accept the offer in person or by phone, follow up with a written letter to the person who offered you the position. The letter should include your understanding of the job details (the start date, position, title, duties, salary, and benefits), thank your new employer for the opportunity, and express your enthusiasm, possibly detailing specific aspects of the job you’re looking forward to.

Send thank you notes to your recommenders and to anyone who helped you network.

Refusing an Offer

If you choose to turn down a job offer, be very positive and professional. You may find yourself applying for a job with this organization in the future, they may be your colleagues, and they could provide excellent networking opportunities. Send a letter that briefly explains why you’ve rejected the position. Thank your contacts for their offer and for the time they spent with you, including specifics about your experience.