A male student presents his research from a whiteboard in front of his classmates.

Aspects of an Offer

There is more to an offer than solely the salary. Aside from monetary benefits, there is an array of non-monetary benefits to be aware of when making a major decision. A great first step to evaluating your offer is to make a budget examining your expenses including school loans against the salary and other benefits offered by the organization. Below is a list of a number of benefits to consider.

Monetary Benefits

  • Salary
  • Bonuses
  • Profit Sharing
  • Stock Options
  • Retirement Plan

Near-Monetary Benefits

  • Insurance
  • Relocation Assistance
  • Tuition Assistance/Reimbursement

Non-Monetary Benefits

  • Job Function
  • Training Travel
  • Start Date
  • Vacation, Sick, and Personal Leave
  • Location
  • Flextime
  • Other (laptop, cultural fit, growth options)

Recommended

Evaluating the Offer

Aside from exploring the various aspects of an offer, it’s important to spend a considerate amount of time on whether or not you will be a good fit within the organization you have interviewed with. For instance, will you feel welcomed and comfortable to be yourself? Do your values align with those of the organization?

Knowing Your Worth

You are not obligated to take the first offer provided to you by an employer. It is best to take some time prior to the final interview to do research on the cost of living where you will be employed. For example, the cost of living is much more expensive in Chicago, IL than it is in Champaign, IL. Therefore, your salary for the same line of work may vary depending on location. You may also want to consider the average salary for entry-level employees within a certain type of industry. Lots of these details can be accessed through a variety of free online resources. 

Recommended

Related Links

Negotiating Your Offer

After you have completed your research on the cost of living and industry norms, you are ready to assess whether your offer is worthy of negotiation. It’s important to consider your work experience and ensure your experience matches what the organization is seeking. This part may feel intimidating and each offer is unique.  For assistance with negotiating your offer, make an appointment with The Career Center.

Recommended

Related Links

Related Services