You might be thinking the grass is greener on the other side. But, what does greener mean to most people? Is it a hefty raise, better healthcare, or a less stressful work environment? Patti Ghezzi addressed the topic of opportunity coming with the job offer but not the money.
Tally up your total compensation before you start your job search, so you’ll know going in what kind of salary you need to make the leap. Be especially careful when calculating the cost of commuting, as an extra ten miles can add up with gas so expensive. If you decline an offer, be up front with your recruiter and potential new employer, thus leaving the door open for the future.
Time and money quickly become spent in the expense of looking for jobs, taking off work, and printing materials for interviews.
You may come across a company that is meaningful and highly compensating. However, most people overlook the expense of getting an increase in income, such as lower healthcare, or the opportunity loss of a promotion like the one Mark almost missed out on in the Patti Ghezzi article Compare Offers, Do the Math. Taking the time to figure out where your expenses will go and how you will spend your money shows the employer that you are not just blowing smoke his way. If you tell them this is how much and why, it is a lot more comforting to say yes or no to a new career opportunity.
Help yourself make the best choice for both you and your future employer. Get a cup of coffee, open up Excel and run the numbers.
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