I Just Received a Job Offer, Now What?

By May 1, 2019 Blog No Comments

If you’ve been looking for a new job and landed an offer, congrats! Job searching can be painful and time-consuming, so it’s exciting when you receive an offer. As difficult as job searching, interviewing and the application process was, the next phase is even more important.

Before you leave one job and accept a new one you have to carefully review the job offer you’ve been given. In quickly growing industries, like tech or healthcare, demand for workers is high. The fast pace of the industry might cause you to get caught up in the whirlwind that is the application process. Who could blame you?  Many people choose jobs based on compensation, but there is so much more to consider when you have the chance to change jobs.

What will the hours be like? How generous is the benefit package? Is there an option for remote work? Are you expected to be on call when you’re out of the office?

These are the types of questions that you might forget about when you’re focused on the salary. The truth is, when you take a job, you determine your lifestyle. We spend more time at work than anywhere else, so our work hours and demands affect the rest of our lives.

If you’ve just found yourself at the receiving end of a new job offer and aren’t sure what to do, don’t fear! We’ll walk you through the four steps you should take before signing on the dotted line.

Step One: Will This Job Improve Your Life?

If you get a job offer with a significantly higher paycheck, you might think only of the ways the job can improve your finances. As we mentioned before, jobs ripple out into the rest of our lives. So ask yourself: will this job improve my finances and my life overall?

Things to consider:

  • Is there room for upward mobility with this company?
  • Will I gain new skills here?
  • What are the communication expectations on my time off?
  • Will this add a negative experience to my life, such as a long commute or working with clients I dislike?

Moving to a new job should mean you are moving forward in your career and moving closer to the life you truly want to be living. If you’ll be trading 40 hour work weeks for 80 hour work weeks for only 7% more money, is that really the right move to make?

Step Two: Review the Benefits Package Closely

Benefit packages have changed a lot in the past decade. Things like pensions, or employer matched retirement accounts are no longer par for the course. A stellar benefits package could make up for a lower salary. Similarly, if you have a less than awesome benefits package, they should make up for it in your pay.

Things to consider:

  • Look closely at the health insurance. Does it include dental and vision?
  • Are there associated retirement accounts and employer matches?
  • What does paid time off look like?
  • Is disability insurance available?

Step Three: Get Clear on Job Responsibilities

How many times have you heard of a friend who started a new job and was unhappy a few months in? When we’re not prepared for the day-to-day work duties of our jobs we can become dissatisfied quickly.

If you’re in a rush to leave your current job, you might be looking at your new opportunity through rose colored glasses. Talk to the hiring manager and the people you’ll be working with about what the job entails in detail.

Things to consider:

  • What does a typical day look like?
  • What expectations do they have for the role?
  • Are there short-term goals you’re expected to accomplish? Long-term?

Step Four: Does This Fit Your Career Path?

Most people spend 30-40 years of their lives working. Within the rapidly changing tech field, people may find themselves working longer than before, simply because they can. Does this job continue to move you along in your chosen field?

Things to consider:

  • Is this new position in the field that I’m interested in working in long term?
  • Is this a company I want to be working for long-term?
  • Are there opportunities for projects not offered at my current job?

The decision to take a new position is an exciting and big one. There’s no need to rush it. Take your time and look beyond the salary. Consider the big picture of what this new job would change about your life, and make your decision from there.

If you read to the end of this post and still have questions about what to make of your job offer, we should talk. Click here to schedule an introductory meeting where we can discuss the details of your offer and walk through whether or not the job is a good fit.

About Woven Capital

Aaron Hatch is a Certified Financial Planner and co-founder of Woven Capital, a fee-only financial planning and investment management firm that specializes in helping people balance life, work, and community. Aaron has been quoted in various publications, including The Chicago Tribune, US News and World Report, and the Huffington Post among others. Aaron can be reached at aaron@wovencapital.net