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"TIPS FOR EVALUATING MULTIPLE JOB OFFERS"
An Article by: Marc Belaiche C.A.
TorontoJobs.ca
The unemployment rate in Canada is the lowest it’s been in
three decades. This means that you may encounter a situation where
you have two, or more, employers making you an offer for employment
at the same time.
Here are a few tips on evaluating multiple job offers.
Don’t Rush Making a Decision
By rushing you might miss something obvious. For example, did you
compare employee benefits at the two companies? Are you sure the
company that you like isn’t in financial difficulty? Make
sure you do all your research prior to making a decision.
Make a List of Pros and Cons of Each Position
Prepare a list of all the good and bad of each position. Be as
objective as possible when preparing your list. Ask others for input.
Include everything you can think of including location, people you’d
be working with, growth of company, size of the department, etc.
Review your list and highlight the most important things that matter
to you. The best answer generally will become obvious at this point.
Create a Point Scoring System
Another method you can use is to create a simple point scoring
system. For example, you could give location 5 points on your rating
system. If one position is closer to home, give it a 5 and the other
a lower score. If salary is more important to you it could be given
a point value of 10. The values for each category should be assigned
based on what is more important to you.
Add up all the points in all the categories to come up with the
highest ranking position.
Compare After-Tax Dollars
One candidate I’ve come across took a position closer to
home that was less salary, but when after-tax dollars were compared
she’d be making more money than the other opportunity because
of mileage and transit costs, without even factoring her time in
getting to and from work.
If you’re comparing two positions from a purely financial
perspective, make sure to calculate everything on an after-tax basis.
Remember to include employee benefits, travel/mileage expenses,
bonuses, possible tax credits gained or lost, subsidized meals (if
applicable), etc.
Communicate With the Employers
Let them know that you’re evaluating two opportunities. Let
them know you’re interested in both positions and that you
need a bit of time to make a decision. The better employers will
generally give you the time to make a good decision and not try
to rush you. Yes, there is a bit of risk that they will feel that
you should be jumping on their opportunity, but generally they will
give you time.
Also, don’t pit one employer against the other to negotiate
a better deal for yourself.
Don’t Burn Bridges
Let the company you didn’t accept with know your decision.
Explain your reasoning and leave it on good terms -- you never know
where your paths might cross again. I’ve seen one candidate
accept an offer with one company and then within a few weeks that
company was bought out by the other that she didn’t accept
with -- she ended up working for the same boss had she accepted
the other position initially.
A Verbal Acceptance Equals Written Acceptance
If you accept verbally, consider it as strong as a written acceptance.
If you accept verbally be prepared to sign off formally. Don’t
back out of a deal.
Don’t Disappear
Employers and recruiters dislike when candidates are not heard
from after presenting an offer. Commit to when you will get back
to them with a decision and make sure to keep that commitment.
Conclusion
There are several things to think about to compare opportunities.
Try not to rush a decision, be as objective as possible and communicate
with the parties involved on a timely basis.
Marc Belaiche is President of TorontoJobs.ca, an internet recruitment
website specializing in helping candidates find jobs in the Greater
Toronto Area. Marc has been in the recruitment industry since 1995.
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