Ten Keys

To Unlocking and Evaluating a Job Offer

By Walter C. Vertreace

A major hurdle has been overcome – you have received a job offer from one of the employers you met at your college job fair. It has been a long journey to this point. You studied the employers that were scheduled to come to the campus, and reviewed the positions for which they were interviewing. You nailed the initial on-campus interview, and were invited to the company's home office for further evaluation. After your on-site interviews were done, you returned home and kept your fingers crossed, hoping for that phone call or letter that would confirm that you were the candidate they were looking for.

And then, you get the call!

Now you have more work to do. As happy as you are to have received an offer, you should not just say "yes" right away, before looking into the deal more carefully and measuring what the company has put on the table against your overall career objectives. You thank the caller, advise that you are excited about the prospect of working for that company and will call back shortly with an answer. There are several aspects of the offer that you need to consider closely, based upon the offer itself and the research you conducted before the initial interview, during the site visit, and after your interest was piqued. These have been condensed into the following "10 keys."

Key 1 - The Company and the Industry

Before the campus interview, you researched the company and determined its values, goals and objectives so that you could discuss them intelligently during the interview. Your concern now is whether the company is stable and respected, and if it is a good choice for the long run. You should also Google the organization to see if it has a recent history of downsizing or employee strife.

A quick trip to the firm's website will give you clues to the company's interest in equal employment opportunity, affirmative action and workforce diversity, and a broader search may uncover its standing among regulatory agencies, within its industry, and in the minority media.

Key 2 - Your Job Title

Seems simple, doesn't it? Your job title is a basic description of your responsibilities within the organization, and the status you will enjoy in the early stages of your career. You should be sure it connotes the professionalism you seek to demonstrate once you are  in place. There may be a significant difference between an engineer and an engineering technician, an accountant and an accounting associate, and you should be aware of what such titles mean in your company.

Key 3 - Job Content

Your first job out of school should be more than just a source of income. It should be a challenge, a learning experience, and an opportunity to expand and grow. Consider whether this position provides you a chance to use what you have learned, and to develop new skills and abilities. You will probably not have a great deal of responsibility, autonomy or authority over other employees or significant projects, but the possibility of assuming such roles within a reasonable period of time should be apparent.

Also consider what the expectations of your chain of command will be, particularly with respect to your time. Does the position involve a significant amount of travel? Is overtime an expected part of your daily schedule? Will you be expected to relocate, and if so, to what part of the world? None of these are necessarily negatives – consider them in light of your personal preferences and requirements.

Key 4 - Your Start Date

It is important for you to be flexible, but it is equally important for you to maintain a level of comfort coming out of college. You may need some time after graduation to wind down, and that is understandable; on the other hand, the company has a position they probably want to fill right away. Negotiate on this one, but don't lock yourself down to an untenable position that causes you to lose the job. If they won't bend on the start date, try to get it on the other end with an earlier vacation.

Key 5 - Reporting Relationship

If possible, try to determine the job title and level of your immediate supervisor. There is a perceived difference between working for the manager of a function and the vice president of that same function. The supervisor's title may indicate the status of the unit in the eyes of senior management, thereby affecting the level of exposure and possible reward your work receives.

Key 6 - Salary

Big surprise: As important as the number of bucks per year is, there are other salary implications you need to consider. Did you have a salary target? You need to know what you expect in order to determine if the offer is in the ballpark. Also, will your pay be based on salary alone, or will there be commissions or other cash payments? Some companies provide such incentives as "signing bonuses" for certain hard-to-find majors, and some may offer future incentives based on such factors as job performance and corporate profits.

Timing is important as well. How frequently  will you be paid (weekly, semimonthly, biweekly)? This may not be a deal-breaker, but it is an important budgeting issue. Are there scheduled pay increases, and if so, when will you likely be considered? This may help to offset deficiencies in other areas.

Finally, consider the cost of living in the area in which you currently live, as compared to the location to which you will be moving. The difference can be considerable, and there are several websites that can assist you in calculating your future cash needs.

Key 7 - Non-Salary Compensation

Companies are becoming more and more creative in assembling compensation packages for new employees, and you should explore with your human resources professional what will be available to you.

Some firms still offer stock option plans, even for new employees. If yours is one of them, find out the details, particularly if you are not familiar with option programs. If you are expected to relocate from your school or home location to another part of the country, ask what the terms of the relocation package are. Most larger employers have 401(k) plans in which you may be eligible to participate, and the earlier the better as you prepare for the future. Depending on the nature of your position, a company car, mileage allowance or off-site parking may also be offered. These can add up in the long run when you are starting a new career.

While you are a student, your medical and dental expenses may be covered by your parent's employee benefits plan. Depending on your age, you may no longer be eligible for such coverage after you graduate. It is therefore important that you review your prospective employer's insurance and other benefits and evaluate them against your personal needs. Remember to determine what portion the employer pays, and compare this against any other offers you may be considering.

Key 8 - Opportunities For Professional Growth

Your first position out of college is a steppingstone to the future. In your discussions with company representatives, try to get a fix on their interest in your longevity with the company and your overall professional development. Does the company support continuing education, in terms of tuition reimbursement programs, seminars, and internal training? Are professional association memberships encouraged, and is participation in such organizations subsidized with both time off for association meetings and activities, and financial support for such attendance?

At what point, given satisfactory performance and training, will you be considered for promotion? If the company is one with a history of promotion from within, your opportunities for professional growth will be significantly enhanced.

Key 9 - Work Environment

Fully one-half of your waking hours will be spent at work or in work-related activities. It is therefore important that the company is one that has an interest in making the work environment as positive as possible. What constitutes a favorable environment is a personal decision, but some factors are common to companies that are known to be good places to work.

Does the company provide sufficient direction and structure to enable you to successfully complete your assigned responsibilities? Is the chain of command and authority dedicated to the advancement and development of the employees?

Are the company's core values posted on its website or provided in the on-campus materials? Companies serious about employee relations and development will have a core value dealing with people, their development and nurturing. Does the company provide the technology necessary for success in the 21st century, including such amenities as a laptop, cellular phone, Blackberry or PDA?

What about diversity? Is the company serious about promoting a diverse workplace that fosters equality of opportunity? Are there people at or near the top of the organization who look and think like you?

Key 10 - Quality of Life

Just as work environment deals with the time you spend on the job, quality of life deals with the kind of after hours existence you want to build, and the enjoyment of your family and personal life, to make the hours you spend at work worth the sacrifice? What does your employer need to provide, and what does your employment need to entail, to give you the joy you want to experience when you are not at work?

Consider your current situation and what is important to you. Some companies offer partial payment of off-site health club memberships, and others provide on-site laundry and dry cleaning services. There are fees associated with these perks, of course, but it is one less thing to deal with after hours. If you are a parent or spouse, on-site day care, job sharing and other family-friendly programs may be important to you. Some employers also offer an option to work from home, or flexible work schedules to assist in meeting your outside responsibilities. These are even more important if you plan to live a good distance from the work site. Also, see what your employer offers in terms of time off, including vacations, holidays, and medical leave.

Now that you have an offer in one hand, take the 10 keys in the other. Use them to evaluate the offer, and determine if in its present form it is right for you. If not, don't give up. Assume the responsibility of negotiating with the employer. Understand that, as the rookie on the team, you still have some bargaining power, although not as much as a seasoned veteran. Depending upon your major, and the other skills and experience you bring to the table, you may be eligible for more benefits than someone with less to offer. Discuss options and possibilities with assurance, but be careful not to seem unreasonable. You have an entire career in which to enhance your total package. Know what your walkaway position is, then work with the company to reach a mutually beneficial employment agreement.

Walter C. Vertreace is Manager Corporate EEO, Amerada Hess Corporation.