Thursday, 13th April, 2006
How to Evaluate an Offer
Just like an interview, a job offer can tell you a great deal about a potential employer. An offer can reveal how serious the employer is about the offer, how valuable you are to the company, and most importantly, whether you should make the move.
Jobs are customarily offered over the telephone or in person. The employer should offer more than just, "Congratulations, you've got the job." He or she should explain the offer in detail and answer your questions.
It is appropriate to respond to a job offer within two to four days. Rarely would an employer expect you to accept a position on the spot. While you're thinking it over, here's what to look for.
Titles
The most basic information is your title. Titles are more than names; they are a short, strategic, and functional explanation of your job and its responsibilities. You need to be clear on your duties so that you know what is expected of you, which can help minimize surprises after you start working.
The names and titles of your immediate supervisors also should be mentioned in the offer. Most likely, you have already met your supervisors during your interview and have gotten acquainted with them. You'll be working with your supervisors every day, so it's important to feel comfortable around them. Knowing how many supervisors you have also will give you a better idea of the amount of work involved in your job.
Salary
Understanding the salary information - the most important piece of the job offer - can help you reach an educated career decision. Find out your base pay, which can be stated annually, monthly, or both. Make sure you know how frequently you will receive a paycheck. Most employers pay biweekly (26 times a year) or twice a month (24 times a year). If you are a nonexempt employee, you should be paid at least twice a month.
Be sure to ask about the timing of your salary review - in other words, when will you be eligible for a raise. Your salary review sometimes is tied to your performance review and is a chance for the employer to recognize and reward you for your accomplishments. Generally, the review will take place one year from your start date. Some companies conduct six-month salary reviews as well.
Bonuses
Bonuses can add money to your total compensation package. Employers should tell you about the different bonuses offered, which can be based on personal performance or be relative to the company's profit. Sometimes a bonus simply will be a set percentage of your base pay. If you were offered a signing bonus, be sure to ask about the details, such as the date you will receive the pay.
If an employee referred you to the company, then he or she may receive a referral bonus, which is contingent upon your employment. This means you may have to be employed at the company for a specified period before the bonus is granted.
Benefits
Compensation isn't just the cash, it's also the benefits. The most important benefits are health and dental insurance. You should find out the name of the provider and the types of coverage you will receive. You should also be aware how much your insurance will cost each week, and how much your employer will cover. Companies offer different kinds of coverage, and if your company makes you pay more for health coverage, you have an incentive to negotiate.
Medical plans sometimes take more than a week to process, so find out whether your new medical plan will take effect on the day you start working. Your health insurance plan at your current job expires on the day you leave, but under federal COBRA laws you have the right to continue to purchase health insurance under your old plan for 18 or 36 months, depending on the plan.
If your new plan will not take effect right away and you elect to purchase your old plan, you may want to ask your new employer to pay part or all of the plan's costs until the new one kicks in.
Remember, you want an offer that matches your current employment status. A good starting point is to use the list of benefits from your current job as a checklist for your new job. If you currently have short-term and long-term disability insurance coverage, find out whether the new employer offers comparable programs. Some other common financial benefits are pension plans, retirement plans, life insurance, travel insurance, and severance packages.
Some companies, both public and private, offer stock options as part of the compensation package. If you are offered stocks, find out how many shares you'll receive and when they vest. Vesting in this context is the period over which an employee has the right to realize the right to exercise options (purchase and sell shares of stock). Vesting schedules vary from company to company. Be sure to ask when the vesting period begins. You may, for example, become vested in 25 percent of your stock options after each six months of employment. It's also in your best interest to know your exercise price, the current price of public stock, and the number of shares outstanding to calculate the value of your options and get a better idea of your total package.
Perks
Traditionally, companies offer added perks to executives and some senior managers. Today, some companies also offer the same high-end incentives to other employees. These benefits could include daycare, reimbursement for parking or commuting fees, and health club memberships. Not all companies offer these services, and not all employees are granted these perks.
Employers also offer training programs, and often every employee is sent to at least one training session, regardless of industry or job title. An employer that values its staff wants to help them grow and develop professionally. Ask about the types of training you would receive. Some companies also offer tuition reimbursement to encourage employees to pursue higher education.
Vacation time
Don't forget to ask about the all-important vacation time. Always ask when you are in doubt - and never assume - because policies differ from company to company. Generally, every employee receives two weeks of vacation time each year; the number is usually higher for senior-level positions. Vacation time also is negotiable if you are offered less time compared with what you have at your current job.
Two benefits often overlooked when evaluating a job offer are sick days and personal days (sometimes called floating holidays). These benefits should be stated in the offer letter, and you should clarify when you can access these benefits. Usually, you must wait three months before you can take a vacation day or a personal day, so if you know ahead of time about an upcoming engagement, negotiate now so that there will be no surprises later. Plus, this is proper business etiquette.
Start date
An employer will discuss your start date, which should be stated in the offer letter. If you are currently employed, the start date will be at least two weeks later, giving you enough time to notify your current employer. It could be as long as four weeks if you hold a management position or if it takes longer to find a replacement for your current position. Negotiate for more time if you feel it's necessary to help you make a smoother transition into your new career
Source: Salary.com Free Salary Surveys
Wednesday, 19th April, 2006
Choosing or Changing Your Career
Career options - career path choices
When individuals begin their career quest starting from ideas of who they
want to be in high school through college, the choices and options they
have before them are voluminous.
How does one select a path or future title? It is not like a 18 year old can see
how these choices at such a young age will translate into stature, stability
and security decades later. In the past people took great efforts to respect
and learn from elders and that gave somewhat of a basis for predicting a
lifetime outcome if selecting the elders profession. But today the youth don't
seem to pay respect to anyone but celebrities, sports or music "stars". Since
it has been so long for anything significant in the sciences area like a moon
walk or explorer discovery, the reality based role model inspirations are slim.
Unrealistic expectations from being flooded with media "idols" and other fads
can only confuse an impressionable mind. If a father or mother figure don't
provide inspiration or even offer guidance it falls to over whelmed and under
creative high school guidance counselors.
Some lucky ones will have a chance encounter with something unusual that
will peak an interest in a potential career selection. Most will wander
aimlessly through the education years hoping they will learn of some
fantastic opportunity.
They get all "educated up" but have not tasted or smelled the real world.
College professors are well known for not having a handle on real
world reality. In fact that "A" from the professor speaks more for your
ability to study for a test or build a friendly relationship with the professor
than a judgment on how well you'll do in the courses subject matter.
Virtually every employer will tell you forget everything you just spent
4 years learning since none of it relates or applies.
College is only a token to be used to get past the gate... the interviewing
gate. Everything else begins the day you start work. From that point
the career ladder is an uneven game of mastering all kinds of skills
and avoidance of pitfalls. And no matter how hard you might try in
some employment situations you will find obstacles, some
impassable. Then you learn the jump and switch maneuvers
moving from one employment situation to another. How well you
keep your eye on the ball will factor into how well you do in the
decades ahead.
Of course these scenarios are predicated on the individual
being in the corporate wars. If one chooses entrepreneurial
endeavors your focus becomes performance and drive less
the politics drain you inevitability encounter in corporate worlds.
The career choice phase really isn't such but a life long journey
where interpersonal discovery and learning limits, abilities and
potentials occur. As in any discovery or exploration you try different
things and look for a groove that feels comfortable. You night try a
dozen new titles or environments before you single out your life
choice. This is good and should be encouraged during the first
decade post college.
Through out this discovery phase you might encounter
some failures but determination, will power and creativity
should prevail. History is full of successful people and careers
built on missteps and bumps in the road.
Today too much emphasis is placed on the number of degrees
or years of education (It seems like everyone is going for master
degrees or more - why?). That might have been a good sales pitch
by a college admissions person in sow economic times, but today
it just delays and stalls the start phase in the real world.
Entering the real world you'll discover your real talents and abilities.
That first acknowledgement of respect that comes from peers or a
superior regarding your real world talents is the spark that lights the
barn fire of dreams and optimism. It creates the internal plan to
achieve their goals.
Once in a world of mentors and elders those talents where noticed
and pursed like a baseball agent surveying a new prospective player.
Apprenticeships used to be the paths winding through choice uncertainty.
The apprentice paths lead one into security and lifelong career stability
and enrichment. More people today don't have the option of asking
an elder or mentor so they are more on their own to make choices.
Beginning steps:
Since you are the person who will make the choice and
live with it try a planned approach to get started.
List out all your assets and talents.
. What are your interests
. What do see as your skills
. What do you seem to grasp easily. mathematical or
artist things etc...?
. Where types of places do you think you would like to work at?
. Are you able to afford years of college or are more present needs a
priority Look into the career area or companies in that area.
. Look online at sites that offer job descriptions. Try Salary.com
. Look at companies in the industry. Try vault.com
. Talk to people in the industry. A good place to talk with people
in the industry is in Blogs or forums. Just Google for Blogs or
forums that have these types of people in them.
. Attend job fairs in your area and ask for some one on one time with
a recruiter. Recruiters can tell you what the company looks for
in an employee.
Career Plan.
. Create a personal career options checklist listing out the areas and
companies you researched. Eliminate the unattractive ones and focus
on a few short listed ones.
. Evaluate what it will take in education, experience to gain a toe hold or
get an entry level job in the career area.
Traditional job search.
. Eventually you will begin submitting your resume for consideration.
So create your resume, cover letter and practice your interviewing style
to develop the skills necessary to compete with your peers for your chosen
career area.
. Your resume and in particular your cover letter should be tailored to fit the
career area of choice.
. Learn and follow interviewing etiquette and always error on the side
of professionalism. In the college world casual and relaxed rule but not
in the business environment. You know have to meet real world bosses
standards but it is not that hard and your natural talents with practice,
persistence and proper education will win the day.
Mark Hudson is a professional recruiter and content contributor for www.preferredjobs.com and www.jobsstore.com
