Are you facing a choice between two job offers? This is a helpful situation. If you are reading this article, it’s likely that the potential jobs seem almost equal in value. This makes it difficult to decide between them.
How to Evaluate Job Offers
On a sheet of paper (or a spreadsheet or word processing document), create two columns, one for each employer. In each column or for each employer, list all of these factors:
Salary
The job offer should include exactly how much each organization will pay you. Add each salary offer to your list. While salary is not everything – job satisfaction, flexibility, benefits, and many other factors will influence your decision – you should know whether the salary is one you can happily accept. To determine this, you should have a budget showing how much you need to earn to cover your expenses.
Note: Remember, however, that your budget is irrelevant when it comes to salary negotiations, which concern what the market will pay for your services, not how much money you need to live your life.
This brings us to determining the fair value of your work in the market. PayScale’s salary survey creates a free report that identifies a suitable range based on your education, experience, and skills.
Bonuses, Incentives, and Stock Options
Some employers offer cash compensation in addition to the salary. Bonuses and incentives are designed to motivate workers to achieve certain goals. Stock options allow employees to purchase a certain number of shares in the company, usually after a period of vesting.
Bonuses are not guaranteed, so a higher salary is better than a bonus. Stock options are less reliable; if your company is a startup, for example, there is no guarantee it will survive, and even less that it will go public.
Standard Benefits
Benefits such as health, dental, and vision insurance and retirement plans are a significant part of employee compensation. Many companies issue total compensation statements to make this fact clear to employees (or potential employees).
If the employer does not provide a breakdown of the benefits, you can estimate their real-world value by looking at your contribution as an employee each month and the benefits provided. Will you be able to keep your doctor under the health insurance plan offered, for example? Does one employer offer dental and vision while the other does not?
Additional Perks
Many companies offer additional perks beyond the standard benefits package. These may include museum tickets, tickets to local sports games, regular or full-time remote work privileges, and educational benefits like tuition reimbursement or online classes. Sometimes, these perks can be negotiable. You won’t know until you ask.
Organizational Culture
We spend most of our waking hours at work, so it makes sense to want to spend those hours in a pleasant environment. The organizational culture that fits each worker varies from person to person. Some may love an open office and the synergy that comes with it, while others may prefer individual cubicles.
Note: Know what kind of organizational culture fits your working style.
Listen to Yourself
The last factor is not something tangible you can put in a spreadsheet. Make sure not to ignore your gut feeling. For example, you may feel that you might not get along with your potential boss but are drawn to a higher salary.
Finally, once you make your decision, remember that jobs change and careers grow. If you choose one position and find it’s not the best fit, you still have options. The other job offer may still be available, or you might be able to return to your old job, or you can stick with this opportunity, gain some new skills, and move on to a better position than you had before.
The point
The key is to keep thinking about the future, building your resume and relationships, and considering the next opportunity.
Source: https://www.thebalancemoney.com/how-to-decide-between-two-job-offers-4154614
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