Evaluating a Job Offer Congratulations on receiving a job offer! Now that you’ve got the exciting news, it’s time to think about if you need more time to decide, what is most important to you, which offer is best for you if you have multiple offers, and whether or not you should negotiate. Asking for More Time to Decide It’s best to ask for more time to decide as soon as you realize you need it and be thoughtful about how much time you need and how you plan to use that time. Asking for more time to put off a decision is generally not wise. Asking for more time to complete interviews with other employers and wait for subsequent offers may be prudent. If you decide you need more time, do not wait until the last minute to ask. The company may ask what new deadline you would like and why you need more time. It is perfectly okay to say that you are considering all your options, whether that be multiple offers or just weighing your needs versus what they are offering. Keep in mind that employers participating in on-Grounds interviewing (OGI) at UVA are given guidelines about allowing students sufficient time to make decisions about job offers – please consult with a CCS adviser to learn more as guideline dates change each semester. What Is Most Important to You When considering what is important to you in a job, it’s a good idea to think about lifestyle fit (proximity to family, time with loved ones, travel, telecommuting, etc.), geographic location (cost of living, taxes, relocation bonuses, etc.), benefits (401k, matching, signing bonus, health insurance, vacation time, tuition assistance, etc.), skill transferability, job security, and probably most importantly, your fit within the company culture. Decide which of these are most important to you and use those to help you evaluate your job offer. If You Have Multiple Offers, Which Offer Is Best for You Looking back at the aspects in a job you have decided are most important to you, make a chart of all your job offers and where your most important aspects rank for those job offers. For example, if being geographically close to your family is a high priority, put the job in your hometown as a higher number and put a lower number with the geographic location that ranks lower. Once you’ve done this for each important aspect for you, the offer with the highest score should be the position that will best fit your needs. Whether or Not to Negotiate The first step to deciding if you want to negotiate is to evaluate the offer. Can you live off of the given salary? Are the benefits what you were expecting and need? Were you hoping for a relocation fee? Having an understanding of what you need in the offer is the first step. If you decide that you do need to negotiate, decide on what is most important to you. If it’s asking for a higher salary, that should be the first step. Decide on a second step if the first is denied. Once you’ve come up with what you want to negotiate, you need think about what reasons you have for needing the negotiation. Have you heard of others who are similarly-qualified at the same location and organization getting a higher salary? Do you have higher competing offers and/or is the salary outside of the figures reported in the McIntire Destinations Report? Also, decide whether or not these conditions must be met in order to take the offer. An important thing to note here is that you should only enter into negotiations if you plan to accept the offer if your needs are met. Do not engage in a bidding war because it could result in bad relations and the employer potentially reneging on your offer. Negotiating the Offer There are a few steps to take when looking to negotiate an offer. 1. Determine the salary: For this step, it is best to have a range rather than a specific number. Do your research into typical salaries for the position in that company in the location you are looking at. Also look at the geographic region for the average salary of similar positions. The McIntire Destinations Report is likely to be your best resource though also use resources including salary.com, glassdoor.com, and indeed.com/salary. _________________________________________________________________________________________________________________________________________________ Commerce Career Services www.commerce.virginia.edu/career-services (434) 924-7986 2. Be prepared mentally: Be professional and confident. This is hopefully your future employer, so you want to handle the situation in a professional, courteous, and calm manner. Support your request with the research you did in step 1 and your qualifications if needed. Be open to conversation and further negotiations from the employer. If your negotiation is accepted, be ready to accept the offer, graciously. Negotiating a job offer for the first time may be anxiety-provoking; consider practicing with a CCS advisor before making the call! 3. Starting the process: You should first mention how excited you are for the opportunity and that you are very interested in the offer. This conversation should happen with the company representative who communicated the job offer. From there, start talking about your reasons for wanting to negotiate and give them the reasons why they should consider your negotiations. 4. Prepare for any response: “What salary are you willing to work for?” Reiterate the salary range you mentioned before with the ideal salary as the midpoint. “That figure is beyond our salary range for this position.” There are a few ways to handle this one. You could offer another salary range as long as it’s still within your comfort range. If not, you could also talk about alternate methods such as a signing bonus, relocation fee, or an earlier performance review. 5. Respond to the offer: If you agree on the terms, you can now accept the offer. If the company does not meet your negotiation needs and you decide you cannot accept the original terms, you do not have to accept or decline the offer immediately as long as the conversation takes place prior to decision deadline provided by the employer. _________________________________________________________________________________________________________________________________________________ Commerce Career Services www.commerce.virginia.edu/career-services (434) 924-7986
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