Evaluating Job Offers

Receiving a job offer can be very exhilarating - you can see weeks or months of work pay off in a rewarding way. Or that same offer might be disappointing - especially if the salary is less than you were expecting. While elation or desperation may tempt you to accept or reject an offer on-the-spot, doing so is not such a good idea. Take time to thoroughly review the offer, the organization, and the job. After all, you will be the one spending 40-60 hours per week (or more!) doing the work, so you want to be as sure as possible that your decision to accept or decline an offer is the right one.

One important thing to remember as you begin this decision-making process is that your first job will most likely not be your last. Many entry-level jobs are designed for you to only spend 2-3 years in them. So use the time to work hard, to learn as much as you can about the job and the industry and to enhance and develop your skills.

When you receive an offer, find out when the employer would like your decision; a one-two week timeframe is considered acceptable. If you don’t feel that they’re giving you enough time, ask for more but be prepared to explain why you need it. While an organization may not always be able to give you all the time you want, they will often try to accommodate your request. If you are interviewing with several organizations, you may find yourself juggling a few offers at one time. Or you may find yourself waiting to hear back from one organization while another is pressuring you to make a decision. If you are going through On-Campus Recruiting, Career Services has an offer policy in place to ensure that you have sufficient time to thoroughly review the offer without undue pressure. You can find information about the On-Campus Recruiting Program Policies and Guidelines on our website or by talking to one of the staff members in the office.

Evaluating Salary

When you begin to evaluate the offered salary, be sure to do so with realistic expectations. Salary is affected by many factors including the state of the economy, the supply and demand of your particular skill set, the industry, the type of employer, geographic location and the cost of living, and your education and experience. There are many resources available to help you figure out what a competitive salary is; see Negotiating Salary for more information.

Don’t evaluate salary solely on dollar amount. A comprehensive benefits package can add 30-40% to your base salary. Health care premiums, retirement contributions, personal time off, profit-sharing, bonuses and educational assistance should all be taken into consideration. You should also consider your future earnings potential. Even if a salary seems low now, future bonuses, commissions or increases can add up very quickly.

 Factors Beyond Salary

The Organization: Do you believe in what they do? People often underestimate the importance of the fit of their own personal values to those of their employers. But your values will be a determinant in your potential for professional happiness and success. You should clarify what is important to you and what is important to the company; some areas to consider include:

• Professional development and opportunities for continued training
• Assistance with continued education
• Quality of life
• Mentorship programs
• Job security
• Stability of the organization
• Opportunities for advancement
• Geographic location
• Travel opportunities
• Corporate culture
• A diverse workforce
• Company size

The Job: What will your day-to-day responsibilities be like? How challenged do you want to be? Even if all other factors are exactly what you are looking for and the salary is impressive, you won’t enjoy yourself if the daily job functions are not what you want to be doing. In job satisfaction surveys, employees often rank enjoying their job as more important than salary.

The Environment: What is the atmosphere of the organization like? Will you be able to get along with your colleagues? What office space will you be working out of? Do you feel at ease with the supervisor? Is the organization in a city or in a suburban or rural area? Will you be close to the people/things you want to be close to? These are all questions you can ask yourself and weigh the answers according to what is most important to you.

Accepting an Offer

Once you have decided to accept an offer of employment, you should do so both verbally and in writing, reconfirming the start date, salary and other pertinent information. Once you accept an offer, you should withdraw from all other interviews since you are no longer available for employment. Under no circumstances should you renege a previously accepted offer; this reflects very poorly on both you individually and Princeton University students as a whole. (Acceptance Letter Sample)

Declining an Offer

To decline an offer, express your appreciation and the opportunity even though it is not one you’ve decided to pursue at this time. Maintain a professional demeanor as you never know when you may once again cross paths with an employer and you certainly don’t want to burn any bridges. (Decline Letter Sample)

Additional Resources

Occupational Outlook Handbook/BLS

Jobweb

EmploymentSpot