Congratulations! You have put hours tailoring your resume, networking, researching companies and you nailed your interviews. Now the offers are coming in (yay!) but you are feeling overwhelmed trying to decide which direction you should take.
If this sounds familiar, keep reading!
I want to share a simple two-step strategy that I’ve used multiple times to help me decide with confidence. From choosing a graduate program to navigate different roles and promotions within my company. This method allowed me to first decide if the opportunity was worth pursuing and, in the case of jobs, it helped me negotiate the aspects that weren’t quite a fit.
The two steps are super simple and involve the following:
- Define key factors that should be prioritized based on your needs & wants
- Use the stacking method to evaluate how your priorities match with the offers you are considering
I told you it was simple! 🙂 but let me mention a few things before I dive into each of the steps.
First, it is important to recognize that deciding between multiple options is a great problem to have. Pat yourself on the back; having options mean you are a desired candidate among many.
Second, be aware that what complicates the decision-making process is the fact that an apples-to-apples comparison is rarely possible when considering offers. Each position generally comes with its own set of perks (and possibly compromises) that differ widely from the next. This is why is important to first define your own priorities. Ideally, you do this early on the job search and fine tune as you go.
My intention with this post is to share how to use the stacking strategy with the main six aspects I find relevant when considering a role.
Needless to say, you get to customize this process for your own situation and preferences. You can distill it down to the basics or make it as complex as you please.
6 Key Factors to Evaluate in a Job Offer
I have found the following to be aspects that different positions and companies will offer you at various level; or possibly not offer you at all [I do hope they pay you though!].
Take a minute and stack these factors based on what you consider most or least important for your future career move.
[You can imagine the jeopardy song playing on the background if you need some time to think as you build your stack]
Here is mine…
Let’s further elaborate on each of these factors in context with a job offer.
Pay & Benefits
Pay is obviously the financial compensation; the dollar amount including 401K matches and other perks such as tuition reimbursement.
I would also include benefits such as healthcare if you want to call this category “Pay & Benefits.” You decide how you split it.
Making a certain amount of money may be something you value above many other factors. It could be a metric of success for you or it may allow you to achieve financial independence as fast as possible.
On the other hand, it may not be a top priority. You much rather comprise here if you have to prioritize between salary and flexibility for example. [Just be careful that you are not perceiving such scenario thru the eyes of your limiting beliefs]
If you want to get quantitative, estimating an accurate figure for this factor can be useful; especially if this is at the top of your stack or if you are trying to decide between closely-matched contenders. If this factor is at the bottom of the stack, a rough figure should be enough but it doesn’t hurt to work up your numbers for your negotiation step.
Flexibility
May be flexibility is what you crave most. You may value being able to do your work on your own time, rather than within the rigidity of a 9-5 schedule.
There are employers who will work with you to have a flexible arrangement on your work conditions while others stick to a strict office schedule. Even in the case of 9-5 roles, it is important to gather information with regards the level of flexibility an employer is willing to offer – this can be especially important if you are the care taker of small children or aging parents for example.
I also define job flexibility as having the ability to wear different hats and navigate various projects within the organization. A role that offers you this type of flexibility can be very valuable if you are looking to expand your skills and take on new challenges.
Status
You may value status -how you are seeing by others in your workplace, your field, or even among your family and friends. Being perceived as a leader may be a strong aspect of your professional DNA along with holding specific titles and roles that, by societal norms, put you in a position of authority.
On the contrary, status may be something you can care less about. How you stand relative to the rest is not something you consider important.
Personally, I enjoy recognition but I don’t see myself at the top of the corporate ladder.
Autonomy
Your top priority could be having autonomy. I define autonomy as having the freedom to decide how to do your job.
The need for autonomy is what drive many people to purse entrepreneurship, however, I believe you can also have it while working for an employer.
Great managers and leaders trusts their team and how they approach their day-to-day activities. Unfortunately, micromanaging practices can be a big turn off for employees. If this is you, it is your responsibility to pay close attention to employee-manager interactions and to ask questions related to autonomy during the interview process.
I consider myself allergic to micro-managers so autonomy is at the top of my stack.
Environment
The atmosphere of a work environment includes the physical aspects of the work place as well as colleague interactions.
This one can be a very subjective factor. I recommend you take note of your non-negotiables and your general preferences. May be you appreciate a family-like feeling in the work place, or you want to work along the best in your field. There are people that thrive in fast-pace atmospheres while others prefer a more quiet and relaxed ambiance.
I personally like to work with people that know their crafts well and are enthusiastic about their role. I have lots of colleagues I look up to and are the best at what they do. However, I have been working mainly from home for the last few years which is why I demoted “environment” towards the bottom of my stack.
Growth & Learning Potential
How important is constant learning for you?
Many jobs encourage their employees to keep up with the latest in their field. They also make opportunities for self-development available which may be a significant (and underutilized) benefit.
I truly value this factors because one of my biggest fears was having a boring job. My current position satisfies this want by frequently exposing me to a diverse range of industries, customers, and troubleshooting situations. I often have to figure things out as I go. It is a challenge but it keeps me excited to show up.
Growth also refer to the advancement potential (or lack of) offered by the position. This is another aspect that you must explore well during the interview process. For example, can you gather tangible examples of how an individual was able to advance their career while being part of the organization? Again, ask question and listen for clues that the advancement opportunities are real. and not just lip service
Aside from these six factors, you can add aspects such as commute time, traveling %, or altruistic mission of the organization. Again, the more customized your list is to YOUR priorities, the best the results you will get.
Now that you know your priorities, how do you decide?
Overall, this is how it works…
1. Make your stack by ranking the factors based on your personal priorities. Your stack prioritization is dynamic throughout your career though. They change as you change so don’t think of them as rigid.
2. Make a stack for each job offer you are considering. Do this to the best or your abilities based on what is explicitly included in the offers and the information you gather during the interview process.
3. Compare stacks. The offer that aligns best with your priorities will stand out or at least you will be able to drop some contenders from the list.
Above all, don’t forget to listen closely to your internal compass a.k.a. gut feeling. Your gut ALWAYS knows even when your mind is playing catch up so don’t ignore its signs when making any decision.
Strategically navigating career moves has not only a direct impact in your road to financial independence but more importantly in your quality of life. After all, your job takes on a significant portion of your time and energy. Pursuing the opportunities that align best with your needs and wants is how you make the most of your working years.
Did you find this strategy useful? How have you decided between job offers in the past? What would your stack look like if you were considering offers today?
