Getting a new job offer is always exciting. It is a great self-esteem booster and an evidence of your worth in job market.
But in excitement and happiness, you shouldn’t just look at salary part in offer letter and say “Yes”.
Careful reading and meaningful analysis of job offer is extremely important. But how to do it?
Set your priorities straight:
Of course one would want everything in a job, yet there is always one factor which dominates others. What is that factor for you?
So ask this question to yourself: what is your priority out of work life balance, pay check, benefits, enriched profile, work culture etc. Once you set your priorities straight, it will be far easy to make a decision.
Below mentioned points will help you in evaluating job offer thoroughly.
- CTC or Salary offered
Understand CTC (cost to company) structure thoroughly. Clarify all your queries before accepting offers.
- What will be the deductions on salary?
- How much will be variable portion and if it is performance linked then how the analysis will be done and what is the minimum % hike you will be getting?
- How much will be take home salary per month. CTC includes a lot of components, which you may not receive in your monthly income, so it is better to have a clear idea beforehand.
- Tax friendly CTC: Check whether offered CTC structure will help you in saving some taxes or not. It shouldn’t happen that at the end of the year, after all tax deduction you will end up getting the same amount as you were getting in your last organisation.
- With higher pay, you might jump into higher tax bracket, which means more tax on your income, so evaluate the offered salary on the basis of tax deductions.
- Work Culture
In today’s corporate world, getting fit into work culture of organisation is a very important factor. But how to know about work culture of an organisation before starting to work with that organisation? few tricks can help:
- Networking: With social media ,it has become quite easy to connect with people working for your prospective employer, connect with people, ask questions from them about company and its culture and you will be amazed to see that people will happily give you answers. LinkedIn works best in this matter, as it is a professional networking site so you can find myriad of information about your prospective employer here.
- Forums: Join different forums on Internet related to your skill set and inquire about your prospective employers. Quora is also a great way to get your queries solved.
- Rating of company: You can check rating, feedback & reviews of different companies on internet. Sites such as glassdoor can help in this regard.
- Job Profile
Have a clarity about your role, project, designation and grade etc. And a brief understanding of your responsibilities and hierarchy structure of an organisation. Objective is to get a clear-cut idea whether offered job is going to add any value to your long-term career plan or not and then make informed decision.
- Work Life balance
If work-life balance is your priority, then ask and clarify following points before accepting offer:
- Working hours/Flexible timings
- Work from home policy
- Leave policy
Inquire about following benefits:
- Life Insurance
- Health Care Insurance
- Retirement/Pension Plan
So follow above mentioned point to analyse job offer and if you have any other point to add, then please mention it over in the comments section.