Once you receive an offer from a company, you will typically have between 2 and 10 days to make your decision. Some companies will specify a decision deadline in an offer letter. You should be deliberating on your decision throughout the hiring process and be prepared to make a decision as soon as possible. Waiting until the last possible moment to accept an offer can make an unintended poor first impression. The Orion team will guide you throughout the offer process - use our experience to your advantage.
It is important that you consider everything when making your decision because an offer does not consist exclusively of a base salary. Most companies have a variety of benefits, stock options, bonuses, relocation assistance and other intangibles (company culture, etc.) that can add significantly to the overall value of a compensation package. Take into account the company's medical and dental plan, vacation package, retirement benefits, and other perks. If the company cannot meet your salary requirements, it may be able to make it up to you in other ways, such as stock options or bonus opportunities. Job satisfaction and advancement potential are two things you should also weigh heavily when considering an offer.
Remember, we are here to help. Consult with your Orion Candidate Recruiter during the offer process. We will answer questions and work with you to ensure you get the best possible overall package. It is a critical time in the hiring process, so please make sure you talk with us regularly.
Salary: What Can you Expect to Receive?
The short answer is that it varies depending on your qualifications, background, the job location, and the pay range for the specific position. In some cases there isn't much wiggle room when it comes to salary. The pay structure for entire companies is often based on internal equity - what other individuals with similar qualifications who are currently at the company make. So, major fluctuations in that number can upset the whole system.
But even notoriously competitive industries will bend a little. Most companies have a small pay band, typically a few thousand dollars, that they can flex based on an individual's performance during the interview process. The best interviewers typically land at the top end of a company's pay band. Keep that in mind when you are preparing for second or subsequent interviews.
Other companies tend to be less flexible about basic pay. When some companies extend an offer, they base it on what they perceive as your market value. These companies feel that they have a pretty good idea about what they have to pay to be competitive and attract the best candidates.
Keep in mind that the company's benefits package can add several thousand dollars to an offer, and salary alone should not be the only consideration on compensation. Think about the entire package and decide what best meets the needs of you and your family. Talk through your offer with your Orion Candidate Recruiter. Your recruiter can answer any questions you may have to ensure you have all the information to make the best possible decision.
Offer negotiation is one of our most important roles in the hiring process. This process can be overwhelming, particularly for job seekers without a great deal of experience. Negotiating a fair and practical salary is a critical step in the job search process, and one that can be navigated smoothly if you know what to do -- and what not to do. Use the Orion Team and our experience to gain the best possible offer. We have an established relationship with the company that we can leverage to ensure you are getting the best overall offer. Consult with us throughout the offer process and use our expertise to your advantage.
It is also important to remember that good companies recognize great talent and they will pay fair market value for it. Do not overvalue yourself initially. You are entering a new industry; it won't take good companies long to recognize that you are a valuable contributor and promote you.
In the end, negotiating is not about winning at all costs. It's about agreeing on terms of a job offer that will satisfy you. Don't get greedy. If you receive a fair offer for a position you want, quit while you're ahead. If you continue to negotiate for the sake of negotiating -- even after you've gotten a fair job offer -- you may end up hurting yourself. A company could simply end negotiations and present you with an ultimatum. You also risk alienating your future boss. And you certainly don't want your boss to resent you before you've even started work. The bottom line is that salary negotiations, like anything else, need to be done respectfully and kept in perspective. Always be courteous, direct and honest.
Making Your Decision
Keep in mind that while your base salary and benefits package are important to your overall decision on whether a company is a good long term match for you, there are other factors that should impact your decision. Career advancement, stability, company culture, and job satisfaction should all be important factors in your final decision. The Orion Talent Team is here to help you.
Over the years, we have seen many candidates who have spurned the highest initial salary offer for one that paid less, but offered them a foot in the door in a great company, in a growing industry, that afforded them the opportunity for rapid growth in position and responsibility. We have seen candidates get promoted multiple times and double their initial salary in just a few years because they got started with the right company, at the right time, and performed to an outstanding level. This is a big decision. Look down the road at where you want to be and consider whether the opportunity can really help you get there. In the end, you must make a decision that is best for you and your family.
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