ALL ABOUT OFFERS Receiving an offer is exciting, but can also be stressful. When you receive an offer, you may have a number of questions: Should I take it? How do I decide between multiple offers? How can I ask for more time? How do I accept or decline the offer? Offers should be handled with careful consideration, and the Pulsifer Undergraduate Career Development Center is here to help support and guide your decision-making process.
EVALUATING AN OFFER Evaluate your offer in terms of TOTAL COMPENSATION (SALARY + BENEFITS)! A generous benefits package equals extra dollars in your pocket! Offer Letter and Salary The offer letter outlines basic information, such as your position title and location, expected start date, conditions of employment (i.e. completion of a successful background check and drug test) and salary. In your offer letter, your salary may be stated as an annual, monthly or hourly figure. But there’s so much more to know, which may not be clearly outlined in your offer letter. Make sure you understand the following: Is the company offering a one-time signing or relocation bonus? What is the timing of salary adjustments?
Are you eligible for an annual bonus? What is the bonus based on – individual performance, divisional performance, firm-wide performance, a combination? Are you eligible for overtime pay if you work more than a specified number of hours per week? If so, what is your overtime rate – time and a half? Are you eligible to earn commission? This is most common in sales roles. If so, ask the employer to provide the details of the commission plan, and make sure you understand it.
Retirement Plans What type of plan is offered? How soon can you begin contributing and when are you fully vested? Does the employer match a percentage of the employee contribution? Vacation Time / Sick Time / Holidays How many days or weeks of vacation / sick time do you have each year? Does this increase over time? (Vacation / Sick Time may be grouped together and referred to as Paid Time Off or “PTO”). How long until you can use it? Can it be rolled over, or is it on a “use it or lose it” basis? Does the company follow a standard holiday schedule? Tuition Assistance / Reimbursement Under what circumstances might this apply? Are there dollar limits or limits on the number of courses per year? Is reimbursement grade dependent (i.e. you must earn a B or better to be fully reimbursed)? Life Insurance Many employers provide basic life insurance coverage free of charge, with the option to purchase more.
Health, Dental, Vision What types of plans does the employer offer? Through which providers? How much does the employer contribute to the cost of each plan vs. how much is the employee responsible for?
Can you contribute to a Health Savings Account or a Flexible Spending Account?
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