Understanding Job Offer Packages
October 29, 2018
Understanding Job Offer Packages
AgCareers.com Career Success Kit
- During the Interview
- Questions about current salary
- Break down your salary into base pay, commission, bonus, etc.
- Questions about expected salary
- If you state a desired salary, ensure to state a little more than you want, within reason
- A good rule of thumb is 10% more than your current base salary
- Give a specific number and not a range because then they will take the lower salary that you offered
- Don’t begin negotiations in the interview, let the employer bring it up
- Receiving a job offer during the interview
- Never accept an offer in an interview
- Allow at least a couple hours to think about it
- Ask for the offer in writing
- You’ve been offered the job. Now what?
- Ask for time to evaluate the offer
- Up to a week is acceptable for most employers
- If you need more time, explain your situation
- What is usually included in a job offer package?
- Job Title/ Duties
- Work Hours
- Compensation
- Paid Leave
- Benefits Information
- Perks
- Non-Compete/Non-Disclosure Agreements
- Documentation or Contingences
- Compensation
- Salary or wage per hour – exempt/non-exempt
- Bonus: guaranteed vs. discretionary
- Commission: varies based on performance and is usually a percentage of sales
- Deferred compensation: income paid at a later date than earned
- Paid Leave
- Includes holidays, vacation time, sick days, floating holidays, and personal days
- Combined paid time off (PTO)
- Policies vary widely by company – not mandated by law
- Anniversary date vs. calendar year accrual
- What else?
- Tuition reimbursement
- Cell phone
- Vehicle allowance/Parking reimbursement
- Flexible work hours
- Gym membership
- Relocation costs
- Pension plan details
- Non-Compete/Non-Disclosure/Non-Solicit Agreements
- Non-compete agreement: you agree not to directly compete with the company (former employer) in a reasonable length of time and within geographic limits
- Non-disclosure agreement: you agree not to disclose things your former company may consider to be proprietary or confidential
- Non-solicit agreement: you agree not to solicit your former company’s customers for a certain time frame
- Knowing Your Value
- Evaluate the pros and cons of the job, employer and offer
- Benchmark salaries for similar roles
- Consider cost of living
- Evaluate the perks
- Understanding the Employer
- What type and size is the employer? Are they private sector, public sector, non-profit, etc.? Is it a growing industry?
- Network – turn to people who have worked there or currently work there for internal information
- Negotiating Salary
- Counter offer (this could put your offer at risk - tread carefully)
- Negotiating Outside of Salary
- Training/education/professional development
- Parking reimbursement
- Paid time off/vacation time/flexible work hours
- Closing the Negotiations – Accepting the Offer
- It is best to accept your offer in writing
- Empress gratitude and enthusiasm for the role
- Reference the basic aspects of the offer: job title, salary and starting date
- Address to the person who sent the offer
- Closing the Negotiations – Declining the Offer
- Needs to be done in writing
- Express gratitude
- State the reasons or vaguely state the reasons for declining
- Stay professional – leave a lasting impression
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