Before you even begin researching, prioritize which aspects of the job offer are most important to you.
At what point in your job search should you research employers? Ideally, at the very beginning as you are preparing a list of employers to target. You can save a lot a time and aggravation by researching early because you will likely decide some employers you considered are a poor fit for you, and you would not be happy working for them.
As of 2020, new records are being set for the number of workers leaving new jobs within the first 90 days. Jobvite’s annual Job Seeker Nation Survey reports 29% of workers have at some point left a job within the first 90 days, most often (45%) because the day-to-day role was not what they expected. Another reason is an employer’s promises made in the job offer went unmet in the first months on the job.
If you have thoroughly researched all the employers you’ve targeted, you will have much less research to do when one of your targeted employers extends you a job offer that you must evaluate and accept or decline. It’s always possible, however, that you did conduct research, but not enough to evaluate an offer, so you need to do a deeper dive. It’s also possible you got an unexpected opportunity to interview and did not have time to conduct comprehensive research. With job offer in hand, it’s now time to drill down into company information so you can decide about the offer. The opportunity to research depends on having asked the employer for time to consider the offer; virtually all employers will agree to giving you time, though they might set a deadline. This article and accompanying checklist will guide you on the points you may want to consider as you weigh the offer.
Before you even begin researching, prioritize which aspects of the job offer are most important to you. What do you truly value in a job? If you could not negotiate to get exactly what you want, which aspects would be deal-breakers, and which could you live with? This is the time to negotiate – when the employer has demonstrated desire and commitment by extending the offer to you. It’s also the time to determine what your non-negotiables are – aspects of the offer on which you are not willing to compromise.
Sources for Research
- The employer: If you have not already received a written offer, ask for the offer in writing. Peruse the written offer carefully. Now is the best time to ask the employer any questions raised by the written offer.
- People who work in the organization: Ideally, members of your network are employed by the organization that made the offer. Ask them what they like and dislike about working there. Get their thoughts on the people you’d be working with.
- Social media: See what people are saying about the organization online.
- News media: Business news outlets online and off can answer questions about the organization’s financials and stability, as can financial reports, annual reports, and quarterly SEC filings. You can also look up the organization on various “best workplaces” venues, such as Biospace’s Life Sciences Ideal Employer Report, Fortune’s 100 Best Companies to Work For or Science’s Top Employer Profiles.
Post-interview gut impression: Start with your gut feeling about the company based on the interview. Did you connect with the person you’d be reporting to? If you met other team members, did they seem easy to work with? Does the job excite you? As you awaited the employer’s decision, did you strongly hope you’d get the offer? Would you characterize this role as your ideal job? What does your gut tell you about accepting the offer?
Salary: Clearly, salary is one of the primary considerations in weighing an offer. Many factors enter into evaluating a salary offer, including what the market considers your worth to be, data you can research using Salary.com. Remember that salary is only one aspect of the offer, and other aspects of the offer could render a job.
New or hidden costs: An offer can look promising on the surface but lead to circumstances that would add costs or burdens or subtract positive aspects of your current situation. For example, maybe your current job has onsite daycare for your kids, but accepting the new offer would mean daycare that’s farther away and more expensive. Other examples include commuting or parking costs, relocation, new wardrobe and different tax burden (as a result of, for example, moving from working in a state with no income tax to one that taxes income).
Benefits: These, too, are extremely important, and in some cases absolutely critical to whether a job offer is acceptable.
Trade-offs/Lost benefits and perks from current job: Even if the new offer contains excellent benefits, it may lack benefits or perks that your current job provides. Let’s say your current job includes a free gym membership the new job offer doesn’t offer – but the new job offer includes tuition reimbursement, while your current job doesn’t. You’ll need to weigh whether the tradeoff is worthwhile.
Advancement and career path: In an ideal world, a job offer does not just focus on the role at hand, but also spells out what growth you can expect in the future in terms of advanced training, professional development, raises, and promotions. Specifics about timing and criteria should be detailed.
Your supervisor and team: Chances are your new supervisor was your interviewer or at least someone you met during the interview process. You may or may not have met any of your new co-workers. Use your network to ask about these individuals. If you need to talk further with your new supervisor or team members to make a decision, it can’t hurt to ask.
Nitty-gritty details of the job: In my opinion, the disconnect between the employer’s and candidate’s understanding of exactly what the job entails is a major reason more and more workers are quitting after a few months on the job. Both employers and candidates are to blame; employers for not painting a realistic picture, and candidates for failing to do sufficient research or neglecting to ask probing questions in the interview. Jobvite’s study indicates only 47% of workers believe that job descriptions reflect actual job responsibilities. If you feel any deficiencies in your understanding of what this job will be like, ask the employer and talk with others on the team.
Organizational health: You certainly don’t want to accept an offer from an unstable company that might lay you off or go under after hiring you. Research business news to check on the organization’s well-being. If you didn’t ask in the interview how the position you’re being offered became vacant, ask now to get a feel for whether the company has an issue with turnover.
Organizational culture: Culture likely won’t be specifically embedded in your job offer, but just like your gut feeling about a company after an interview, organizational culture should be part of your deliberation over an offer. The textbook description of organizational culture refers to components such as values, purpose, rituals, heroes, communication, norms, and stories. Effective communication is particularly critical to smooth operations and contented employees. You’ll want to research this aspect of culture because it probably won’t be obvious from your early interactions with the organization. In recent years, culture has come to include the way the company will affect work-life balance. The best way to research culture is to talk to current and former employees.
Location and physical environment: Location is an easy disqualifier for early in the job search because you probably have a good sense of where you do or don’t want to be. Still, location may be a consideration when weighing an offer; for example, if you ostensibly favored a certain location but had not yet researched the quality of the school district for your children. Physical environment refers to the actual workspace in which you’ll spend most of your working hours. Is it dark and depressing or bright and lively? Does it inspire you?
For an easy way to prioritize and evaluate aspects of your offer, see our Job Offer Evaluation Checklist.
