Career Services in Coda! [Katie Rivard]

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Career Services in Coda! [Katie Rivard]

Career Services in Coda! [Katie Rivard]

Job Offers & Negotiations

Lesson: How to Review an Offer

5 minute read

When an offer comes in from a company, you should be prepared to not only see the final number attached to the document, but the benefits associated with the position and the company.

Money isn't the only thing that can provide value to your work experience. So don't focus solely on the salary figure.

When reviewing an offer, it's important to keep in mind what else the company has to offer in comparison to others.

Let's review these additional perks so you are better acquainted with making a good decision.

Equity and Shares

Many startups will provide equity, or a stake, in the company. There are strings attached to additional benefit typically. Several companies will require you spend at least four years on staff to vest all of your shares in the organization, which might or might not pay off in the future.

For instance, some of the first employees at Facebook opted to take on more equity in the company versus higher salaries in the hopes that it would pay off at a later date. And for them, it did. However, not every company is a unicorn, and it's difficult to really determine if it will happen unless you've invented time travel.

You should consider and weigh the option of taking more equity and less salary in the hopes of a big payoff, or vice versa.

Health Benefits

While it may not seem like a direct payout, health benefits can sweeten the deal as well. If you were to select a private, individual health plan in the United States, the cost can be outrageous and overwhelming. Companies that offer health benefits can reduce that out-of-pocket amount, and provide better value in the long run.

According to Payscale, some common health benefits for a UX designer include the following (with the percentage of recipients):

Medical: 85%, Dental: 78%, Vision: 67%

Additional Perks

Some companies can offer extended benefits and perks to their employees. Annual bonuses can increase your yearly take-home pay, while unlimited vacation time can be enticing to those looking to travel. Here's a list of potential perks companies offer:

Retirement savings program with matching percentage

Bonuses

Profit sharing

Unlimited Vacation Time

Signing bonus

Remote working

Complimentary snacks and occasional meals

Generous parental leave

Flexible schedules

Stipends for wellness, co-working spaces, technology, and/or professionalization

When considering an offer, it's important to view all of these factors to make an educated decision on whether or not to take a job. For instance, let's compare two separate offers:

High salary, no health benefits or perks, low equity

Moderate salary, decent health benefits, and annual bonus, 5% stake in the company

Lower salary, great health benefits, remote working, unlimited vacation time, and retirement savings matching, 10% stake in the company

All of these have their pros and cons. If you're making significantly more money, health benefits might not be an issue for you to secure on your own. However, if the perks outweigh the salary amount, you could choose to go that route.

Determine what fits your lifestyle, the future you have planned for yourself, and make a decision on what matches your expectations the best. When starting the job hunt, it's beneficial for you to write out your ideal scenario, not just from a salary expectation, but any additional benefits and perks that might entice you to accept a job at a company.

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