Managing Job Offers
View our online salary negotiation workshop at http://www.stpaulcareers.umn.edu/workshops.html.
Considering Job Offers
In the excitement of a job offer, many students accept a position without taking a moment to consider the offer completely. It is appropriate to ask for a few days to think about the offer before you accept it. Below is an overview of things to consider during this time. Always get any job offer in writing to confirm the terms that have been agreed upon.
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Salary – What is the salary? How are you to be evaluated and by whom? Are raises based on cost-of-living or merit? Bonuses?
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Benefits - Health, Dental, Vision, Retirement, Stock, Tuition Reimbursement, Parking, Travel, Comp Time? How much do you have to contribute of your take home salary to supplement these benefits? Studies show that benefits can make up 30-40% of your total compensation.
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Job Description - Can you be happy doing this every day? Will the job develop new skills and challenge you?
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The Company - Do your styles and values mesh? Are you supportive of their primary activity?
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Supervisor - Can you work with this person? Do you have a good feeling about them?
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Co-workers - Did you get any particular feeling about the people you met? Did you like them?
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Physical Environment & Location - Do you like the office & your space? Is the location convenient to home? Are you willing to relocate?
Multiple Job Offers
Sometimes students find themselves in the position of interviewing with multiple organizations simultaneously. This can create a new set of challenges when the timing of possible job offers does not align well. Some guidelines to follow when interviewing with multiple organizations or facing multiple job offers are below.
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If you receive an offer from one organization and are waiting to hear from a second, ask the first organization for time to consider the offer. Contact the second organization, explain you have received an offer and ask if they are able to notify you of their decision more quickly. Many organizations will speed up their decision to hire a competitive candidate.
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Never accept an offer with an organization with the intent of changing your mind if something better comes along. This will burn bridges within that organization and can hurt your credibility in the field.
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If you receive offers with two organizations and one has offered less money, you can negotiate with them by mentioning you have received a higher offer from another organization. Sometimes they will match the other salary, but be prepared to have the other larger offer in writing for the organization to be willing to match the salary.
