Receiving your first job offer can be intimidating, exciting, and overwhelming all at once. When you get that phone call from the hiring manager, you might feel tempted to accept the job offer on the spot. But there’s more to it than that. There are several things to finalize with the company first, from pay to benefits to start date. You might also wonder if you should even accept the offer in the first place. Follow these steps for navigating your first job offer in order to maximize your chances of being happy with the decision you make.
If your gut reaction is “no,” then there’s a good chance that you won’t want to accept the job offer at all. But usually, there’s a lot more complexity in thinking about the pros and cons of working for a specific employer. For example, you will want to consider things like company culture, upward mobility, general work expectations, and how well you think you will get along with your boss and your co-workers. To help orient yourself toward making an informed decision about your job offer, ask yourself these nine questions before signing on the dotted line.
After receiving your job offer, make a plan to negotiate your salary. Research shows that those who don’t negotiate their first salary lose out on $1 million in earnings over the course of their career. If you are unable to garner a higher salary, you might also be able to negotiate other perks and benefits. Do your research on the average salary for that job, industry, and location, and be confident in advocating for what you deserve. Remember, you don’t have anything to lose by asking for more.
A job offer isn’t just an offer; it’s also a contract. And as with all contracts, you will want to read the fine print. Understand the legal definitions that appear in your contract, such as non-compete agreement, non-disclosure agreement, and at-will employment so that you aren’t in for any nasty surprises later. You will also want to understand if you are categorized as an exempt or non-exempt employee and how that will affect your rights and benefits as a worker. If anything in the offer letter is unclear to you, you can (and should!) ask the hiring manager or HR for clarification.
Salary is only one component of your job offer. Your other benefits, such as healthcare and retirement contributions, are also important. Are you offered full medical, dental, and vision insurance? Does the employer offer a 401k match, and if so, what are the conditions and how long before you are fully vested? You will also want to understand the conditions surrounding paid time off, sick leave, vacation days, and parental leave. In some cases, you might find it worthwhile to take a job with a lower salary but great benefits compared to a job with a higher salary but mediocre benefits. It all depends on what matters most to you. For more ideas here, check out our article on the top benefits to negotiate in your job offer besides salary.
Your first job should be a stepping stone for an even better job in the future. As a result, you will want to understand how your prospective employer can help you advance your career. Ask what professional development and mentorship opportunities are available, especially for entry-level employees. For example, would the employer pay for you to take classes to advance your skill set? How about for a graduate degree, or conferences, or work sabbaticals? If this isn’t something you’ve already discussed in the interview process, have a conversation with the hiring manager before accepting the offer.
There is a huge difference between receiving a job offer and accepting it. In fact, if you have multiple job offers on the table, you won’t be able to accept both! The good news is that you can leverage multiple job offers in your negotiation process, and most employers understand that job seekers are applying for several companies during their search process.
If you are going to accept the job offer, make sure you get an offer letter in writing and promptly send it back with your signature. If you are going to decline an offer, craft a letter thanking the company for their time and informing them that you have decided to pursue employment elsewhere. The last thing you want to do is accept a job offer and then change your mind; you don’t want to burn bridges since you never know when you might cross paths with that company or hiring manager in the future!
While your first job is an important step in your professional growth, it doesn’t necessarily define your career. Accepting your first job offer isn’t a guarantee that you will stay with the company long-term. But asking yourself (and your prospective employer) important questions at the outset will help you make an educated decision about whether that first job is right for you.