Tips for Comparing Job Offers
Many job seekers now may be getting multiple competitive offers and be faced with a new predicament: which job do I accept?
While it’s tempting to look only at the bottom line—the pay—there are many other intangible factors to consider.
To start off with, as you begin your job search, it can help by making a list of what matters to you. Then seek to compare apples to apples. For this I included a video that can help you evaluate all the offers of benefits packages.
Factors to Consider When Comparing Job Offers
This is a straight-forward comparison. Who will pay you more money. However, also factor in location of the job. From a cost of living perspective, a $50k / year in Austin, TX is way different than a $50k / year job in San Francisco CA. Here’s a free calculator to compare cost of living. Also keep in mind any bonuses or commissions you may be entitled to in your equation.
Medical, dental, and vision are the primary offerings. When comparing insurance packages, make sure to consider things like annual deductibles, monthly premiums, and out of pocket maximums. Employers may offer disability insurance and life insurance.
This often takes the form of a 401k, pension, or 403b if you work for a nonprofit. Peak Performers is excited to soon be offering a 403b to all of our employees!
Fringe benefits from an employer may include things like a work phone, airline miles, or possibly even a company car.
Paid Time Off
Paid time off from an employer is another key benefit. This often takes the form of sick days and vacation days, but also may be one single allotted amount of time to spend as you choose.
Currently, there are way more job seekers looking for “remote jobs” than just looking for “jobs.” Many job seekers factor in location as key deciding factor. For our part, about 46% of our jobs are remote. And if you are working on-site, factor in your daily commute and how much that will cost you in time and gas.
Don’t forget to ask about whether your hours can be flexible. This is important for taking care of things outside of work, such as childcare duties or going to the doctor. Time flexibility is a non-tangible but extremely valuable job benefit.
While not a tangible benefit, having ping pong tables in the break room has done the start-up industry wonders! Seek a workplace culture that will align with your own work style. Use social media to research the company and ask acquaintances who are currently working there what it’s like.
Finally, factor in the “prestige” when considering job offers. People spend less than 3 years on average at each job, so this job will likely not be your last. Does the company or your job title look good on your resume? Will it help you find an even better job several years from now?
At the end of the day, remember to politely decline the offers you don’t choose and keep those people in your network. Perhaps that organization will be a fit for you several years down the road when you’re ready for your next career journey?