Northwestern Mutual: When jobseekers receive an offer from a potential employer, it may feel like they've finally made it to the finish line. But candidates still have the opportunity to ask questions and find out if the offer is a good fit for them. This is the time to negotiate pay and other benefits and understand how the new offer compares to a current job or other offers. Keep reading for three essential questions to ask when evaluating a job offer.
What benefits are included in the offer?
A hiring manager or recruiter may provide some indication of the benefits early in the interviewing process, but once an offer is on the table, candidates have an opportunity to ask more specific questions. Employees can take the opportunity to ask about things like health insurance, life insurance, 401(k) matching, and flexible hours. The employer may also offer other benefits like upskilling and training (short online courses or even fully funded degree programs), remote work options, and more.
How much vacation time or sick time does the company offer?
Candidates may want to ask about leave policies, including vacation days, sick leave, and company policies regarding sabbaticals and parental leave. This is valuable information to have, and knowing the company offers a two-month sabbatical after three years or generous parental leave may make the offer much more attractive. At the same time, the leave policy may not always be a dealbreaker — there may be instances when it is balanced out by other benefits. For example, a candidate may hesitate to accept an offer from a company that includes fewer vacation days than their current job. But the company may offer flexible working hours or a hybrid working setup that lets employees work from home for some days of the week, which would certainly sweeten the deal. Ultimately, candidates should look for a model that works best for their needs.
How was the salary calculated?
This question, in conjunction with others, can let candidates know where they stand as far as pay negotiations are concerned. If the salary is the standard pay for the position being offered, that may be an indication that there may not be room for negotiating (though it may still make sense to ask). On the other hand, if the salary is based on the candidate's years of experience, qualifications, and skillset, then the candidate may make a case for a better salary based on their own research regarding the industry standard or even best-in-market pay for that role.
Candidates should bear in mind that negotiation is part of the process, so there's no need to be intimidated. Before negotiating a salary, conducting some research to back up salary expectations is crucial. It's important to clearly communicate your requirements and be straightforward throughout the process. It can also help to be flexible about minor details if the overall package meets expectations.
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Original Source: Northwestern Mutual: 3 Questions to Ask When Negotiating a Job Offer