If you weren’t able to quit your job this week because you won $1.5 billion in the Powerball jackpot, at least you can be excited about the raise you’re likely to get in 2016. As The Fast Company reported this week, employees will get the biggest salary increases in 2016 that they’ve seen in years. Why? All signs point to increased demand for skilled labor and low inflation in 2016. So if you’re looking for a job this year, and you get an offer, it will likely include a raise. There are thousands of articles on the internet with tips on how to assess a job offer. They generally fall into three categories; go with your gut, if you’re getting a raise you should take it, and it’s probably better than the job you’re in. However, none of these articles tell you how to accurately size up a job offer. Here are 5 questions you should ask yourself to accurately assess if you’ve hit the lottery with your recent job offer.
1.What are they offering that your current employer isn’t?
We are hoping your new job will come with a salary increase, but we’re trying to get you to look beyond your paycheck. Will they offer tuition reimbursement? Does your new role have bonus potential? How does their benefits package stack up to your current one? Will you have to pay for parking? Do they provide any commuter discounts? What is their vacation policy? Do you have the ability to work from home or a coffee shop at your discretion? How does your current commute compare to your potential one? What is your career path currently vs. this opportunity? Do you get to wear jeans on Friday, or at least not have to wear a suit? Once you answer all of these questions, you’ll be comparing “apples to apples,” and can fully assess where you are versus the offer to leave. This should provide you will a full picture of what you’d have to gain in the new role and highlight any trade-offs you’d have to make. How does your new role fare after you ask all these questions?
2.Do you see yourself working there in 5 years?
It’s a legitimate question to ask in order to avoid the dreaded “job hopper” adjective. If you can see yourself working there in five years it’s probably because you understand your career path and have asked the question about potential promotion beyond the current role being offered. If you can’t see yourself working there in five years, ask yourself why. If you haven’t asked about your career trajectory potential, add it to your list of questions you’ve started after you didn’t know the answers to all the questions we posed in point number one. After you’ve got all your questions answered, and if you still can’t picture yourself there five years from now, this might not be your jackpot role.
3.What do the other employees say?
Have you had a chance to talk to employees working within different levels of the organization? What do they say about their culture? When you ask about what the organization values, do you get a lot of similar answers, or are their responses all over the board? If you’re getting a lot of like-minded answers, it’s probably not because they’ve hired the same person hundreds of times, rather the organization finds people that values what it values. Or, the organization does a fantastic job of laying out goals and objectives and getting employee buy-in. Either way, it’s a sign of excellent internal communication, a desire to work for a common goal, and cultural unity. These are all clear indicators of a healthy organization with a thriving culture. If you haven’t had the opportunity to talk to current employees outside of a direct interview setting, make it a priority. You’ll want to know what kind of organization you’re joining before signing on the dotted line.
4.What could your current employer do to get you to stay?
If you sit down to tell your manager that you’re leaving, will you get a counter offer? If you think you will, figure out what you’re going to do before you have the conversation. If there’s any way for you to avoid having to get to the offer stage with your new employer only to accept a counter offer from your manager, make it happen. Most employers view acceptance of a counter offer as a reason to reject you for future consideration for open roles. Not every organization feels this way, but it can put you in a politically charged situation that puts all parties involved in an uncomfortable negotiation. If you get to a point in your interview process where you don’t think you want to move forward, be as honest as possible before you get to the offer stage. In reality, if you think you could get a raise in your current role, start there by asking for one. If you are turned down when you ask for a raise, you will know your answer on what they would do to keep you in the face of another offer.
5.If you won the lottery, what job would you keep in spite of your new millionaire/billionaire status?
If you are thinking that there is not a job in the world you would keep if you didn’t have to work, you’re not alone. However, there are people in the world who love what they do so much that winning the lottery would not change their desire to get up and go to work each day. If you’re not there yet, will this role get you one step closer to feeling that way about your job? If not, what can you do to get closer to a job that you’d love this much?
If you ask yourself these 5 questions and you’re happy with your answers, you’ve probably hit the job offer lottery. You should feel confident taking the offer, feel good about your raise, and move into 2016 with excitement about where your career is headed.