How to Evaluate an offer
HOW TO WEIGH CONSIDERATIONS AND ACHIEVE YOUR GOALS
Receiving a job offer is exciting. It validates the strength of your professional accomplishments and your ability to present yourself well. When considering whether to accept an offer, you should evaluate the offer in light of your career goals. Every person has unique priorities, preferences, and values that impact their decision. Even if you plan to accept an offer because perhaps it is the exact role you want at a top company on your list, conducting a systematic evaluation helps you identify elements of the offer that you might want to negotiate.
Below are some proven approaches to this evaluation process. In addition to conducting your own assessment, you should consult with your career coach to talk through your considerations. The information below applies to full-time job offers but is a useful framework to evaluate internship offers; consult with your career coach to discuss other internship offer considerations.
THINK STRATEGICALLY ABOUT YOUR PRIORITIES
A variety of criteria may be important to you when considering a job opportunity. Ask yourself
the following questions to gain clarity on how you value this opportunity – try to be honest
and realistic when you go through this process:
- Is this the right opportunity for the beginning of your post-MBA career? Do you feel it advances your career; moves you in the right direction; adds to your career credentials and “toolkit”?
- Is this one of your top employer targets? If not, is that OK?
- Is the role one that you have been targeting, and is at an appropriate level that will be challenging and interesting, offering the opportunity for both success and growth?
- Is the compensation appropriate for your level, experience, and needs? If not, is that most important now?
- Do you view this opportunity as a short or long-term position?
- Do you have other options? What is the condition of the economy and the hiring marketplace?
- What is the cost or downside to turning down this offer? Consider the fact that while accepting a certain offer may not seem ideal, it may still be a stronger launching pad to your next opportunity than being unemployed.
USE A WEIGHTED EVALUATION TOOL TO BETTER UNDERSTAND YOUR PRIORITIES
A good job evaluation tool allows you to list different elements of a job offer and rank each one based on your particular needs and preferences, typically on a scale from 1 to 5 (5 being the best). Consider what is a “must have,” “nice to have,” and a “deal breaker” as you assign weights. Some typical criteria include the following (but add your own):
- Job Responsibilities and Impact
- Company Culture
- Company Reputation, Brand
- Industry
- Job and/or Company Stability
- Work-Life Balance
- Remote Work Flexibility
- Base Salary, Bonus
See a sample evaluation spreadsheet here. If you are not comparing multiple offers, decide what
an acceptable score is to you.
SCRUTINIZE AND ANALYZE YOUR DECISION
Once you have conducted a systematic evaluation and talked with a career coach, make a decision about the offer and live with it for a few days (if time allows) before notifying the company. How does it feel? Do you feel a sense of relief or contentment? Do you feel regret and anxiety? Sometimes indicators like these bring valid emotional considerations into play.
DECIDE AND MOVE FORWARD
Everyone has different professional goals, priorities, and levels of risk tolerance.
Be honest with yourself and realistic about the situation. Understand that the entirety of your career will involve many incremental steps and surprises along the way. There is not one “right” job – many opportunities provide the chance to learn, grow, and lead as a professional. Be open-minded about the potential of each opportunity you consider.
Once you make a decision that feels right to you, notify the company and prepare for your negotiation; get excited about your next step!
OTHER RESOURCES
The Job Offer Evaluation Guide
MBA Job Offer Negotiations – Strategies for a Successful Outcome
