How to Choose the Best Job Offer, Part I

How to Choose the Best Job Offer, Part IHow to Choose the Best Job Offer, Part IHow to Choose the Best Job Offer, Part IWahoo You got an offer Your job search and interviewing strategies paid off. But wait ... whats that? You have two offers? Three? Holy cowIf this is the boat youre in, consider yourself lucky. While getting even one offer is great news, having more than one gives you a safety net, increases your negotiating power, and raises your sense of control over your future. You get to choose which deal is the sweetest, and ask for more of what you want if one offer isnt good enough to win you over.To give you an idea of how you can sort out the details, Ive created a handy chart to compare the terms of two hypothetical job offers.Offer 1Offer 2Personal NotesWage / Salary$42,000/year$46,000/yearBonuses / RaisesMerit increase probable after annual performance reviewMerit increase probable after annual performance reviewPaid Time Off2 weeks vacation, 5 sick days, 11 paid holiday s2 weeks vacation, no set number of sick days, 7 paid holidaysInsuranceHealth, life, dental, vision, prescription, reimbursement accountHealth, dental, vision, prescription, long- and short-term disabilityNeed life insurance to protect family401(k) ContributionsEnroll after 6 months, company match up to 6%Enroll after 90 days, company match up to 3%Tuition ReimbursementN/AN/AStock OptionsAvailable after one yearN/A (Non-public company)RelocationN/AN/ACommute25 minutes to downtown35 minutes to small townPotential for heavy morning traffic downtown - could take subwayOpportunity for AdvancementTitle change flexibility only, unless higher position opensNon-hierarchical structure but ability to move within departmentsLevel of IndependenceMainly independent, report directly to managerReport to senior level, who reports to managerCloser supervision with 2, not sure Id like thatCost of LivingManageableManageableWould be more comfortable with higher salary for higher 401(k) contributionsBut dont stop there. Other important factors to consider include Hours, work environment, boss and coworkers, job security, training and career development, and work-related travel, if any.So now that youve mapped out the differences, how do you determine what the best fit is for you?Identify Level of Importance Is a higher salary more important than life insurance? Is a longer commute to a small town that big of a deal? Is moving up the corporate ladder more important than zur seite hin gelegen transitions?Identify Most Attractive Offer Overall Which offer, before any negotiating, meets most of your needs?Identify Areas of Negotiation Lets say you consider Offer 2 more attractive overall, but you could really use employer-paid life insurance and would prefer more paid time off. With another offer to fall back on, you have the upper hand in negotiations and if the company really wants you, they just might step up to meet your needs.In the end, your decision may come down to something a s simple as which offer feels right. Think it through, weigh the pros and cons, and trust your gut.When youve made your choice, follow up with How to Choose the Best Offer Part II, in which I address how to reject an offer without burning bridges.