We all have experiences interviewing for jobs. Granted getting to an interview in this economy is a big battle but even if you get an offer there are some serious considerations before you can accept the offer. Never accept any position to just pay the bills. Only apply/interview for positions which you know you are a suitable candidate.
Now once you have a great interview, you are not far from getting an offer. After months of job search it’s really tempting to jump at the first offer. You should never accept that even in dire circumstances. If you accept an offer it will be years before a raise can be discussed. You only have advantage negotiating before accepting an offer.
Evaluating How Much You Want
Starting with what you made in your previous job make an estimate of the salary you expect to make in your new position. Consider how long has it been since you last got a raise at your previous job. Then jot down the expenses you make in a year. You should total up not only your regular living expenses but also important savings decisions, retirement accounts, children’s college tuition , etc. Adding everything up come up with a number you would be comfortable working for forty hours a week for the foreseeable future.
Consider how many sick leaves and casual leaves the employer offers per year. Can you cash your leaves if you don’t use them? What if you require more vacation time and take unpaid vacations? Calculate a dollar value for all the leaves you may get per year from the prospective employer.
Employer provided insurance is always cheaper than getting it on your own. Check out the prospective employer’s plans and premiums.
Will your spouse be covered even if working and covered under his/her insurance? How about your children? Make a list of doctor visits in the last two years and calculate how much your health care expense is coming to. Calculate the cost of healthcare and how much your employer would cover.
Nobody likes to commute! That’s the reason home-office took off with the spread of internet. Suppose you have to commute 30 minutes to office. That’s 15,600 minutes of travel or 260 hours every year. How much are you willing to pay to reduce this commute? Keep a dollar figure on your commute time when deciding between multiple job offers.
More and more employers doing away with defined benefits pension plans and 401k seems like the only way of saving regularly for your retirement. Check out the prospective employer’s 401K plan. Would you have to wait six months before you can contribute? Will the employer match your contributions? If yes, then what is the vesting schedule? Check out the investments in the plan and their expense ratios. Sometimes the only differentiating factor between two equally good employers is their 401K plan.
Ask the Human Resources whether the company allows flexible schedule. This can really come in handy for days when your wife is sick or your baby sitter doesn’t turn up at the last minute. Instead of a leave from office you can work from home. You would be surprised how many employers agree to this, when asked. So just ask about this.