Accepting or Rejecting a Job Offer: To be or Not to be
With every job seeker, there are always two possible options to think about- to accept the job offer or decline it. When a hiring manager breaks the most awaited news that you have cleared the interview round, your response to the job offer should not always be a quick ‘YES’. Here’s why…
Just because you are offered a job doesn’t mean that you should accept it without pondering over it. When you have appeared for several job interviews, determining whether a particular job offer is suitable for your career plan is a crucial decision. In a competitive job market, declining a potential job offer or accepting an inappropriate one plays a major role in your career growth. Therefore, turning down or accepting a job offer should include a proper and timely evaluation.
Reasons to turn-down a Job Offer
Taking career decisions wisely helps you in the long run. There can be one or other valid reasons that make a job seeker not to accept a job offer. Whether it’s money, type of work, company name, or any other factor, some common reasons include:
· Any distraction from your career plan
When it comes to job hunting, many of us believe that “any job” is better than “no job”. Therefore, we apply for a number of job openings to get a response from maximum employers. Therefore, while you are waiting for your preferred job, it is fine if you show a red flag to a “filler” job that deviates you from your desired plan.
· When it affects your market value
With several years of work experience in an industry, you believe that the next position awaiting you in the next job is one level above the current position, but what the next job offers you doesn’t meet your expectation; it’s something to be considered again. Also, if you are offered a salary which doesn’t match your market value, it is wise not to hurry up in accepting anything that cannot justify your work. However, it is vital to do proper market research to understand the market trend in your industry and job role to get the best offer.
· You want to wait for better opportunities
This can be a more straight-forward and clear reason for you to wait for what you believe is better and coming your way. Any job offer that may cost you better opportunities in the near future should be given a second thought.
The situation cannot be same for everyone. If you are without a job or desperately need to switch your current job, you obviously feel tempted to accept any job offer that comes your way. However, if you are ready to accept a job offer, there is still some home-work required to land a promising job. Evaluate your job offer letter to understand the important components of your new job, such as compensation, work hours, job role, designation, work location, annual bonus, etc.
Here are some useful tips to evaluate your job offer.
Tips to Evaluate a Job Offer
Do more in-depth research
Before you confirm the acceptance of your job offer, make sure you have done an extensive research about the company, the culture, and career prospects. Check the company’s online presence to research how it is performing in the market as it will directly impact your growth in the organization. Your research should also involve understanding the market trends to ensure you are being offered a competitive compensation in your area of work.
Money- -Is it what you expected?
Money is not just the only factor to accept or reject a job offer; however, it is one of the most important things to consider. Therefore, before you send confirmation to the employer and regret later on, take some time to evaluate your compensation. If not satisfied, keep a room open for salary discussion.
Evaluate other benefits
Job seekers often focus on salary and ignore the other key components of salary compensation, i.e. benefits. To understand its importance, here’s a case. Suppose you are offered a salary that is 20% higher than your last salary drawn, but it covers only 50% of your health insurance costs in comparison to the 95% cost covered in the last job. If you evaluate such an offer, there is a clear chance that you are losing significantly in terms of overall compensation in the long run.
Hence, consider employee benefits which include other factors such as health insurance, vacation, retirement plans, and other perks that constitute a significant part of your total compensation package.
Other key factors
There are several other factors that play a crucial role once you start working in an organization. These include location, its people, job duties and growth opportunities.
Whatever things you consider to say a ‘YES’ or ‘NO’ to a job offer, it is important that you remain truthful to yourself to make the right decision.