5 prime factors to evaluate a job offer

5 prime factors to evaluate a job offer

Be it finding a job for the first time or an attempt towards changing a job, both are very serious matters these days due to shortage of opportunities and increasing competition. Even in a very tight job market, it is not advisable to accept the first job offer that comes your way. Not just in the tight job market, there may be a situation in which you have multiple offers in hand and you need to select one. In this situation also, making the right choice is very crucial.

In both the situations discussed above, you are expected to evaluate the job offer correctly and make the right choice. Evaluating the job offer is not an easy task. There are multiple expectations you have from your job. But it is also a fact that no job is able to fulfil all the expectations. So which expectations should you let go is a difficult thing to decide.

Hence, we will discuss certain factors that help you evaluate a job offer. Though every person has his /her own set of priorities when it comes to selecting a job, but there are a few parameters which are important to everyone and they for sure need to be looked carefully at time of selecting a job. These important points are discussed below:

The Work Profile

One of the most important factors to be considered while evaluating a job offer is “The Profile” for which you will be working. If you are not satisfied with the profile, sustaining in that job for a long time becomes difficult. However, as a fresher you may not have any experience related to the profile. That’s fine as long as you can understand the job description in detail and analyse how well you will be able to perform in that field.

A very important point to consider here is analysing whether your core skills map against the profile you are considering. For instance, sales profile may not be a very good choice for a person who is an introvert.

Even if you are an experienced person, you may want to change job or industry after a point. Hence, for a new industry you will be a fresher. An in depth understanding of the industry, the exact work profile and mapping the same with your core skills will help you make the right choice.

The Work Culture

Work culture is a very subtle yet an important factor that determines overall happiness of an employee in a particular job and hence has a direct impact on his performance. Culture has a deep impact on the contentment and commitment of an employee in a job. Company culture can be evaluated by the way an organization treats its employees, the HR policies, what is its relation with its clients and vendors etc. The culture emanates from a Company’s vision and mission. It is very easy to get an access to Company’s vision, mission, core values and business model through a company’s website. Hence, understanding the same in detail can help you evaluate a job offer correctly.

The Compensation Package

Compensation is the key factor as to why you want to do a job. But at the same time, it should not be the only factor or the most important factor since it does nothing to improve the morale of an employee. Compensation is made up of various components including base pay, job performance bonuses, travel reimbursement and other factors unique to each company.

When evaluating a job offer on the basis of the compensation package, make sure you research the pay scale being offered by other companies in the same industry. Also, get a clarity on performance appraisal cycles and pay hike structures from your prospective employer.

Don’t forget to inquire about other forms of pay including travel reimbursements, signing bonuses and other compensation since these components are highly variable even within the same industry.

The Stability and Scope of the Organization

A lot of organizations tell compelling stories to their prospective employees about their past work and success. But it is very essential that you do your level of research on the company’s recent success and hiring activities. Since, the Globalised Economy is very volatile, successes and failures of an organization are also very short lived and every organization today undergoes a cyclic change frequently. Be ensured that the organization has a long term scope and is here to stay.

The Designation

The Position title offered to you is directly linked to your motivation level and self-esteem. Though it should not be the most important factor while evaluating a job offer but it sure has a direct impact on your future growth as well. A present designation denotes your future designations and makes sure you go up the ladder. Though, as a fresher you may not have much say in selecting your designation but if you are evaluating a job offer for shifting a job, it becomes very critical. You certainly want a designation which is one step upward of the previous one. Relate it to other parameters on your priority list and make sure you make the right choice.