Evaluating Job Offers: Let’s Talk Money (and more!)

Graduating and landing your first job offer is a huge milestone. Congratulations! But before you sign on the dotted line, it's worth taking a moment to pause and look beyond the salary figure. While salary matters, a job offer typically includes many other elements, such as benefits, time off, flexibility, and more. 

To make a well-informed decision, it is helpful to break the offer down into its key components. In the sections below, we'll break down the key elements of a job offer so you can weigh your priorities and choose what's right for you. 

1.Total Rewards vs Total Compensation  

Your base salary is just the starting point. Employers typically offer a total compensation package, which includes your base salary and any bonuses, incentives or commissions. Base salary is the number most people focus on—but it's not the whole story.  

You'll also want to consider the total rewards, which extend beyond your paycheck. Total rewards include benefits such as health insurance, retirement plans, paid time off, flexibility and perks. These can significantly impact your quality of life and financial well-being.  

2. Paid Leave and Work Flexibility 

Paid leave policies vary widely. Some companies offer generous vacation, sick days, and personal time, while others may be more limited. Make sure you understand how you accrue time off (calendar year vs. anniversary date) and whether your paid time off (PTO) balance includes holidays. For some, a flexible schedule or extra time off may be more valuable than a slightly higher salary. 

3. Health and Other Benefits  

Benefits are often the most overlooked part of a job offer—and they can be costly if not considered. Ask for detailed information about: 

• Health, dental, and vision insurance: What's covered? What's your monthly premium? 

• Retirement plans: Does the company match your contributions? That's free money! 

• Disability and life insurance: These may not be glamorous, but they're essential safety nets. 

• Other perks: Gym memberships, parking, parental leave, and wellness programs can add up. 

4. Think About the Intangibles 

You can't measure some job benefits in dollars. Will this role offer valuable training, mentorship, or exposure to a key network? Is it a stepping stone to your dream job? These intangible benefits can be just as important as salary. 

5. Long-Term Growth and Raises  

If the starting salary isn't quite what you hoped for, remember that compensation is an ongoing conversation. Annual reviews and performance evaluations are opportunities to advocate for raises and promotions. Be respectful, realistic, and confident in your value.