Two Offers, One Choice

Searching for a new job is always stressful, but it can be even more stressful when trying to pick between multiple offers. You’re faced with making a decision between two companies, two compensation plans, and two career paths. Needless to say, it can be daunting.

Compensation should never be the lone deciding factor when choosing between offers. It’s really more about what’s best for the individual on a personal level. To pick between multiple offers, you really have to consider what is most important to you. Here are a few top things to consider when comparing offers:

 

COMPENSATION

This is typically the very first thing that people ask. We all have basic human needs and want to ensure that wherever we go that these basic needs will be met. One thing to consider is that benefits are actually part of your pay. I recall calculating this issue for myself at one point, when deciding whether or not to accept a new opportunity.

My position at the time paid $12,000 more per year than the new offer, but they did not contribute to employee health plans. The new offer paid 100% of all healthcare costs, which amounted to a value of $10,000, and had significantly lower copays. The new offer also doubled the amount of PTO I’d receive in a year. This leveled the playing field between the two options, as I determined pay was in reality equal once taxes and healthcare costs were factored in.

 

WORK-LIFE BALANCE

You have your work life and you have your personal life. They rarely overlap but your job is really intended to support your personal life. When picking between two offers, take into consideration the workload expectations. I had a coworker at a former company that left an employer because of poor work life balance.

She was really into spending time with her young son and very dedicated to the triathlons she regularly competed in. She took a $45,000 pay cut to go elsewhere. The catalyst was being chastised by her boss “only” working 40 hours a week (her coworkers were putting in close to 70 hours) even though her work was complete. Her boss told her “You give your son love, you give your races love, why don’t you give us any love?”

It was then that she decided her family and her races were more important than the money. She is much happier now that she is in a place where she can be flexible with her schedule and take time off as needed.

 

GROWTH OPPORTUNITIES

We are all looking for that sense of fulfillment and progress in our lives. When we enter the workforce, we have big ideas of where we would eventually like to be. Finding a place that will help you sharpen your skills and develop new ones to help you move forward is invaluable.

Take a look at how each offer could help you on your desired path.

  • Does it make logical sense in helping you reach your long-term goals?
  • Does the company promote from within?

One way to check is by taking a look at the company’s LinkedIn page and seeing how long employees stay with the organization and if they’ve had title changes throughout their tenure. You could also ask your interviewers where they see the company heading and if new opportunities will be created as the company grows.

 

SUMMARY

Comparing two job offers is a challenge in self-knowledge. What matters the most to you? Flexibility or opportunity for promotions? Low co-pays or casual Fridays? Performance bonuses or a high salary? There are too many variables to measure and track. Analyze them as best you can and go with your gut. At the end of the day, the only person who really knows what best for you is you.

Job Offer Negotiation for Employees

Job Offer Negotiation for Employees

As search consultants, we’re involved with a high number of salary negotiations. While the job candidate and hiring company are always changing, there are several rules (maybe guidelines is a better term) that must remain steadfast if both parties are to get what they want.

These are 13 salary negotiation rules that, if followed, can lead to a bigger paycheck and a better relationship with your new firm.

Job Offer Negotiation for Employees

  1. Do your homework. Understand the goals of the hiring firm. What are the results that drive profitability for them? Why are they hiring for this position to begin with? What do they hope to accomplish? Understand the role of hiring manager. What’s his or her motivation? He or she needs to fill the position, but on what metrics or outcomes is he or she judged? Realize that you’re negotiating with another person, not a corporate They have bosses, goals, and incentives just like everyone else. The better you understand the position and needs of the other people involved in the negotiation the better you’ll be able to predict their responses.
  1. Be likable. Hiring managers are only going to fight for you if they like you. The more they like you the more likely it is that the other side will work to get you a better offer.
  1. Know your worth. What’s the average salary for employees in similar positions? What does this average look like nationally and locally? What do you bring to the table that can save/make the firm money? Know the results you can deliver and quantify it.
  1. Based on your homework and presentation, state your price. Start high and be prepared to support your stance.
  1. Make your case. Beyond simply liking you, employers have to believe that you’re worth the offer you want. You can’t simply state that you what 15% more than the offer. You don’t get anything for free in a negotiation. You have to justify your demand. This is best done in the form of a story. Tell them about the exceptional results you delivered in your last position or your plans to boost sales in your region within the first 90 days on the job.
  1. Let them know they can get you. The greatest fear of every hiring manager is that they are going to put their neck on the line to get an improved offer for a candidate and the candidate will look at the offer and turn it down. If you intend to negotiate for a better package, make it clear that you’re serious about working for this employer.
  1. “What is your salary history?” This question and other difficult ones are coming. You need to be prepared. Your goal with these questions is to be honest while still looking like an attractive candidate and, since you are negotiating, giving up as little bargaining power as possible. Plan your responses to these in advance. Winging it won’t do you any favors.
  1. Outline your skills and experience. Every professional has a unique blend of skills and experience; you need to identify what makes you different. Even more than that, you have to sell the hiring manager on how you will have a direct, positive impact on the key metrics that drive profitability. Keep it succinct and logical. Plan this out ahead.
  1. Understand the firm’s limitations. Some firms have salary caps or other controls in place that just cannot be changed through negotiation. Find out where there is flexibility and negotiating room. When you understand the limitation of the firm, you’ll be much more effective at presenting options that create a win-win scenario.
  1. Don’t negotiate just because you feel you have to. If something is critical to your happiness and security, negotiate for it. Don’t be petty about the small stuff.
  1. Consider the whole deal. Salary is a big part of any job offer. It’s probably the biggest part. However, there are other things to consider. Don’t get so focused on money that you miss the opportunity to improve on benefits, travel schedule, flexibility, work from home, and insurance. These are often overlooked, but make up a significant part of your job satisfaction.
  1. Prepare yourself ahead of time to politely thank the interviewer and walk away, to request time to consider the offer, and if you get what you want, by all means say “Yes!”.
  1. Keep things in perspective. You might negotiate wonderfully and get everything you want, but still end up in a bad situation. In the end, the negotiation is just the beginning of your tenure with a new firm. Landing a job that you love is more important than any negotiation. These rules can help you get the offer that you deserve, but should only come into play when you find that opportunity that will lead to the long and fruitful career you desire.