Don’t Rule Out a New Opportunity Until You Take These Factors Into Consideration:
When changing careers, no one wants to take a step back with salary. However, making a change for the better, especially when it propels you towards your three to five year career goals (create them if you haven’t already) and your personal and professional priorities, should be considered.
If you have received an Offer with a salary that is lower than expected, here are factors to use to weigh your decision:
- • Research the company’s track record for upward mobility. (linkedin has analytics that show a graph of hiring over a twelve month period for each company). Is the company in a growing industry and well-managed? Do you see a trajectory that would allow for significant opportunity to prove yourself and receive a promotion?
- • Would the company consider setting high value objectives where, if achieved in a reasonable amount of time, your salary would increase in six months?
- • If you are entering a new field, expect to pay your dues and prove yourself. It is well-worth coming in a little lower to have the chance to learn new, cutting edge technology.
- • Does the company sponsor certifications or training? Some I.T. certifications cost upwards of $20,000 and can help you build a valuable portfolio of expertise. (expect to sign an agreement to pay the company back if you resign your position within a few years of receiving your certification).
- • If you are a salaried employee, are you currently burning the midnight oil? Would the new position afford work/life balance? When I worked in the corporate world, I was probably netting $10.00 an hour based on the consistent 80-hour work weeks.
- • What is your contribution to the benefit package at your current job? What is your out-of-pocket expense and how does that compare? Does the new position provide more vacation time? These factors equate to both soft and real savings if the benefits are better.
- • Retirement should be important to everyone at all ages. Does the prospective company match employee 401k contributions? That should be factored into your decision.
- • Do you spend more than thirty minutes on your commute both ways? That is time you can’t get back.
It is important to reflect on what is most important to you today and tomorrow. That requires long term planning and visioning of where you want to be. Consider career opportunities by taking the entire package into consideration.