This post is NOT for monkeys coming out of college/grad school. This is for monkeys that are entertaining offers to leave their current employment for another firm. It was put together by a good friend of mine and I thought it would be a great post to share.
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My recommendation would be to perform a side by side comparison of your current total compensation package against what they're offering. It's also a great tool to leverage during negotiations, assuming you'll be able to negotiate.
Play it cool and don't let this be a emotional activity. You don't have to leave, so make sure they make it worth your services.
Here is my list of comparables:
- Base salary
- Bonus (if applicable)
- Health Insurance - how much out of pocket cost per month vs. the benefit received. Also, when does coverage start.
- Vacation and holidays - very important to know work schedule expectations because that does equal monetary value
- Retirement - What is the match as compared to your current firm? This can be a huge deal breaker and could eat away your base salary gains because you now have to contribute additional cash to maintain same savings.
- Moving expenses
- Professional development reimbursement
- Make sure all expectations are known and understood. Assumption is the root of all f... ups, so make sure you don't assume anything and ask those questions for clarity.
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There might be more things that you want to compare, but just because the base salary is higher doesn't mean the offer is better. Compare everything before jumping into a new job!
