We all know nowadays it's really hard to even get a job in the first place.Apart from the income and post of the job, there are many things one should consider before accepting a job offer.
No matter how much you would love that job, if it won't meet your financial needs reject it, because, after all, you still need to be able to support yourself.
Here are the eight last things to consider before saying yes to an offer letter:
This is the most important thing everyone will look at. Analyse yourself if the remuneration they offered is fair and will meet your financial needs from it. Most of the companies including reputed firms offer an inexperienced person a lower salary than they deserve.
2. Know the breakups
When getting an offer letter the CTC or INR figures will attract your attention very much. But the take home salary will be very less. Figure out what you will bring home after taxes, PF contribution, gratuity, and other cuts. Add up your bills, and decide if what you have leftover. Think is that enough to support your good being.
3. Work schedule and extra pay
Before accepting an offer letter from a company, ask the HR about your work schedule. Find out if you'll have to work long hours or if you'll have to come to work during your weekends or during your vacation days. Enquire which days you get off on weekends. Make sure payment for extra hour works.
4. Know the location and transport allowance
Know the location of your office. Will you have to spend too much money on your daily transportation? If the office is far away and there is no office cab service, it will ruin your budget. If company cover the costs of your daily commute, it will be ok. Consider all these before accepting offer letter. For marketing kind of jobs, companies provide vehicles for their executives. For this employees needs to submit fuel bills in accounts section.
To assure better job performance most of the companies provides insurance to its employees and spouses. A company may provide,
- Health Care Insurance
- Disability Insurance
- Life Insurance
- Retirement / Pension Plans.
- Flexible Compensation
- Paid Leave
6. Other benefits
Know what benefits you will receive besides salary from this firm. Some of the companies provide a holiday package yearly, gym membership card, company loan or different bonuses, gift cards on achieving yearly targets. To motivate employees companies offers movie, theater or concert tickets. For the anniversary, Diwali and New Year they may provide gift cards and bonuses.
7. Fringe benefits
Fringe benefits are an extra benefit supplementing an employee's money wage or salary. Medical and dental insurance, use of a company car, housing allowance, educational assistance to kids and employees, vacation pay, sick pay, meals and employee discounts, Zodax coupons etc can be included in fringe benefits. Before accepting an offer letter have a look at companies policies on fringe benefits.
8. Career growth
Accept the offer only if it give the positive result to these two questions- Is the new job allow you to gain knowledge and develop within a particular industry? Can it act as a stepping stone to greater things in the future? If your answer is yes, go ahead with that offer.