Getting a new job offer is always exciting. It is a great self-esteem booster and an evidence of your worth in the job market.
But in excitement and happiness, you shouldn’t just look at the salary part in the offer letter and say “Yes”.
Careful reading and meaningful analysis of job offer are 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, paycheck, 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 offers 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 the variable portion? 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 the tax deduction you will end up getting the same amount as you were getting in your last organization.
- With higher pay, you might jump into a higher tax bracket, which means more tax on your income, so evaluate the offered salary on the basis of tax deductions.
In today’s corporate world, getting fit into the work culture of an organization is a very important factor. But how to know about the work culture of an organization before starting to work with that organization? few tricks can help:
- Networking: With social media, it has become quite easy to connect with people working for your prospective employer. So connect with people, ask questions from them about the 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 a myriad of information about your prospective employer here.
Read: Benefits of networking
- Forums: Join different forums on the Internet related to your skill set and inquire about your prospective employer. Quora is also a great way to get your queries solved.
- Rating of the company: You can check rating, feedback & reviews of different companies on the internet. Sites such as glassdoor can help in this regard.
Have a clarity about your role, project, designation, and grade etc. And a brief understanding of your responsibilities and the hierarchy structure of an organization. The objective is to get a clear-cut idea whether the offered job is going to add any value to your long-term career plan or not and then make an informed decision.
You can get these queries solved in an interview itself.
Work Life balance
If work-life balance is your priority, then ask and clarify the following points before accepting the offer:
- Working hours/Flexible timings
- Work from home policy
- Leave policy
Inquire about the following benefits:
- Life Insurance
- Health Care Insurance
- Retirement/Pension Plan
- Other allowances like shift, travel etc.
So more clarity you will get about the offered role, company, and benefits, more you will understand if the job is perfect for you or not.