How to evaluate and negotiate a job offer?

Drops of sweat trickle down Rohit’s forehead as he checks his inbox for the 99th time. “I guess I did not make it”, he repeats for the 100th time and goes back to bed. “I should be patient”, he whispers to himself and tries to grab some sleep. “1 sheep, 2 sheep, 3 sheep..”, anxious and sleepless, he counts, tossing and turning in bed. An hour later, he falls asleep, only to wake up with a nightmare of receiving a rejection mail. 

“3:26 AM”, reads his phone screen. Just below the time, flashes another notification, “1 new Email”.

Unlocking his phone in a hurry, he read and then re-read the email. “Congratulations! You’ve been selected”, said the first line of the email. Rohit was elated and couldn’t contain his happiness which is why is called his Dad in the middle of the night and told him about the offer letter. Happy for his son, he congratulates Rohit and asks him to evaluate the job offer wisely before making a decision.

Rohit’s dad was right. He had cleared the first step of clearing the interview. But the next step was a lot more crucial: Evaluating and negotiating the offer. Also, could he land better options than this one company? Struck with this dilemma, Rohit couldn’t sleep the entire night.

Don’t worry, we won’t let you have sleepless nights with such uncertainties like Rohit. To help you out of this muddled state, we bring to you a key that will help you evaluate and negotiate the job offer wisely. 

Analyze the next stage

The first step is to come to terms with the fact that you’ve successfully crossed the initial barrier for clearing the interview and landing a job offer. The very next phase requires a thorough analysis of the offer in accordance with relevant factors. You’re about a start a fresh chapter of your life which is why it is crucial to assess the pros and cons of the offer letter before you set your foot into this new journey. Even though the job is yours once the offer letter is rolled out to you, you must continue being enthusiastic about the further processes with your prospective manager.

In case you sound critical or uninterested, you’re most likely sending a negative signal. Your prospective employer might think that you are uncertain about accepting the job offer. And even though you might be stuck with the dilemma of whether or not to say yes to the offer, you definitely would not want to send that message to your would-be manager. 

List down what matters to you

Once you’ve understood the importance of beginning a new phase of life, you must assess what matters to you more, both in your personal and professional life. While many are inclined towards accepting offers that pay more, it is vital to evaluate other aspects of the job offer too. Ask yourself, “What holds more value in my life?”

You might get surprised by the revelations you’ll make about yourself. Take the following components into account when you sit down to assess your offer:

1. Salary

The pay offered to you, in most cases, will be enough to make a living. But it is important to judge yourself on the industry knowledge you possess and your skill-sets. See whether or not the offered amount is in line with that of the market. Analyse the pay scale of individuals who have skills sets and experience like you. For this purpose, you can visit job search websites like Glassdoor, Salary.com, Ladders, Indeed, etc. But it is always better to connect with people who are already working in the industry you’re about to step in. Also, have a backup plan for the areas you’d like to emphasize on, if the salary is non-negotiable.

2. Job Contentment

One thing that you must analyze well is job satisfaction. You must know whether or not you will be satisfied with the role at hand and how you’ll ascend the ladder of success. Ask yourself questions that help you figure out what you really want from the job at hand. “Do you want to travel a lot - or not at all? Do you want to supervise a team? What kinds of projects do you want to work on?” Assess the kind of activities that interest you and see how well they fit into the offered job role. Understand what’s expected of you in the company and in the shoes of an employee of the said company. If the picture does not match the one you’ve cut out for yourself, the role might not be designed for you. 

3. Culture-fit

Another factor that comes into play is the workplace environment. To get an insight into the company’s work culture, reach out to people from the company on LinkedIn and other networks and talk to them about it. Get to know them, the company and the people you will be working with. See if you’ll be happy to work in an environment like that. You might not be able to analyse the work culture in all aspects but it always is good to get some idea of what you’re stepping in. 

4. Flexibility and Vacations

Numerous individuals value the ability to work flexible hours and vacation time are a lot more than their remuneration. So, in case you are one of those, you must consider this and maybe even ask for extra paid time off. If flexibility is not a major component of the offer, you can talk about that during the negotiation stage. But it is always better to step into the company and prove yourself invaluable to them first. You can then also talk to the other employees of the company to know whether or not such requests are considered. This can make things a lot easier for you.

5. Other alternatives

It is essential to weigh all your options before you draw conclusions. When you're assessing, also consider the option of walking away and the time and energy required to look for other jobs. If you do not have other offers in hand, see if dropping this offer and choosing to struggle all over again is worth the trouble. Think in terms of cost and benefit and evaluate every option of the job offer with care. Even if you end up taking the job, this process will at least help you realise that you do have other options. 

Plan it out

Once you have decided the perks that are of utmost importance to you, you will have to strategize things. Devise a tactic and formulate a strategy of the way you’ll broach the topic in the negotiation phase. Make the most of your creative self for this. For instance, you can say something on these lines, “The salary offered is great, but I’m looking forward to growing in and with the company. To develop in this role, I can imagine a few possibilities that might enhance my learning curve like the access to a rotation or a mentoring program or an educational allowance. Which, do think, might be possible?"

Use a cheerful approach for negotiation. Let the recruiter know that you are happy about the role being offered and then make advancements towards the elements you would like to add to the offer. Stay confident and prepared for everything that comes your way. Be respectful. You will be judged as a person they’re likely to work with, keep that in mind. 

If it’s not right, say ‘no’ politely

Saying no to everything the employer offers, makes you look like a person who isn’t flexible. So, if you think your recruiters are being unreasonable, refuse politely and find ways to turn it down.

You must monitor your choices internally and then come to a conclusion. If you think the job at hand isn’t right for you, decline the offer politely. If you refuse to accept the offer with a few acceptable reasons, like the field isn’t right for you or you will not be able to stretch enough in the said role, it is fine. Also, make sure that you leave the door open. The people you’re negotiating with might turn out to be your potential clients, advisors or maybe, your potential employers. Treat them with respect. 

Taking risks and drawing conclusions in haste will only lead to troubles once you join the company. So, sit down, relax your nerves, get rid of your anxiety and close your eyes. Think of the elements that matter to you the most and see how well they reflect in the job offer. Do not let preconceived notions and biases govern your decision. In the end, how well and on what grounds you finally evaluate the job offer is what actually matters.

As far as Rohit is concerned, I guess he needs some sleep!

All the best!