Are you in the situation where you have been offered two job offers? Or perhaps you have been given a counter offer by your current employer and are comparing the new offer? It is a good situation to find yourself in however it can also be difficult to weigh up your options. So how to decide between the two job offers?
Like other life decisions where many factors contribute to the decision, it is best to make a list of the pros and cons of each. This may involve doing a bit of digging and performing some research on both companies. Firstly, create a document and list the details of the following categories.
The salary may not be your main driver in taking a new job but it should factor high on your list. You should know exactly what the salary offer is and if remuneration is reviewed periodically. Some companies offer employees an opportunity to discuss their salary at any time throughout the year. Others will only allow negotiations during annual performance reviews. This is something that you should be aware of as it may impact your future salary expectations.
Look at the details of the benefits on offer with each employer. Which employer is offering the better benefits package, if any? This may include company health insurance, dental care, pension, phone or a company car or travel allowance. Some of the bigger employers might also offer gym membership, work-life counselling and even wellness care. The benefits on offer with one employer might make up the difference in a lower basic salary from the other. It is important to ask each employer exactly which benefits will be available to you and when they will kick in (i.e. immediately upon starting or after six months, a year etc.)
3. The reputation of the companies
One factor that often gets overlooked by people who are weighing up two job offers is the reputation of the companies involved. Is one a growing brand in an expanding market or a decaying brand in a shrinking market? You will have performed preliminary research prior to your interview with both companies and will have a basic understanding of their positions. However, at this stage, it is worth re-examining their standing in the market and deciding which one offers opportunities for career advancement/opportunities in the future.
4. Career opportunities
Which leads on to the next factor, career advancement opportunities that exist internally. Is there a clear line of promotion in each company? Which one will provide more opportunities for you to make an impact? Do you have ambitions to lead and drive change? Then you want to work somewhere that offers clear opportunities for advancement. It is worth doing some research into the organizational structure of each company. Speak to anyone you know at the companies in question, research them on LinkedIn and seek out information that will inform your decision. It is important to work somewhere that aligns with your own career aspirations.
The culture that exists within an organization is hugely important. Every one is different in how they assess and rate a good company culture. However, it is vital that you work somewhere that you feel comfortable. Look at how each job will fit with your lifestyle. Examine their policies on flexible working practices. Also look at if the company encourages creativity/innovation through an open office environment? Or do they prefer to segregate their teams and prefer individuals to work independently? It is up to each individual to decide which culture fits best with their lifestyle and their work/life balance.