Evaluating a Job OfferEvaluating a Job Offer&&

Differences to ExpectDifferences to ExpectPresenters:

John Hillmann

Jeff Mowris

AgendaAgenda

• Introductions

• Evaluating Job Offers

• Transitioning from School into a Professional Environment

• Questions

Before you InterviewBefore you Interview

• Determine your needs/wants– Salary/benefits– Location– Type of work (manufacturing, R&D, etc)– Industry (automotive, food, pharmaceutical, etc)– Size of company

• Don’t waste time interviewing with companies that will not fit your needs

• Similar to choosing a college

During the InterviewDuring the Interview

• Ask general questions– Company philosophy– Type of work (engineering, supervision)– Typical career path

• Don’t waste time asking about specifics– Wait until after an offer for details

• Decide if you actually want to work for the company before an offer is extended

Once an Offer is ExtendedOnce an Offer is Extended

• Don’t be afraid to ask any question– If a company is interested in hiring you,

they should be happy to answer any question

• Direct questions to correct person– HR Director– Recruiter– Hiring manager

Items to Consider When Items to Consider When Looking at Job OffersLooking at Job Offers

• Scope of the job, nature of work• How the job meets your goals • Organization and personnel• Opportunities for professional growth• Values and philosophies of management• Geographic conditions (relocation/travel) • Salary and potential for increased salary• Benefits

Understanding the PositionUnderstanding the Position

• Does it match my career goals?• Does it seem to offer the challenge I’m

seeking?• Will it use my existing skills and

education?• Do I understand the job responsibilities

clearly? What is the scope of my responsibility?

• Are the work hours acceptable? Is overtime required? If so, how often? What happens if I’m inflexible?

Organization and PersonnelOrganization and Personnel

• Will I fit into the corporate environment?• What is the company’s future? Is it

restructuring? Downsizing? Expanding?• Do I understand the chain of command

clearly?• Do I know my manager’s style and work

expectations?• What does the rest of my department team

look like? Do I feel that I will fit in?

Opportunities for Opportunities for Personal GrowthPersonal Growth

• Can I become a member of the team quickly and succeed immediately?

• What are my promotional opportunities in this position?

• Do I think that I can advance in this company? Is it a leader in its field or industry?

• What does the company do to help me maintain and improve my professional status and knowledge?

Values and Philosophies Values and Philosophies of Managementof Management

• How prominent is the company’s commitment to its values and code of professional conduct?

• How does the company contribute to the community?

• Is the organization known for promoting from within?

• How committed is the company to workforce diversity?

Geographic ConditionsGeographic Conditions

• Do I know enough about the community I could be living in?

• What will my commute be? Do I need a car? Is alternate transportation available?

• Is there a large difference in the cost of living? If so, is there compensation or salary adjustment?

• Must I travel? If so, how much? How far?• Must I relocate in the future? If so, what are

the other possible locations?

Salary and Potential Salary and Potential for Increased Salaryfor Increased Salary

• What will I be paid in this position? Is there a fixed salary or salary range for this position?

• How often will my pay be reviewed?• How does individual development and

performance influence my salary growth?• Is superior performance rewarded? How?• Is there a variable pay program? What is

the variable pay expectation for this job?

BenefitsBenefits

• What is the benefits package? • When is coverage effective?• How much does the company pay, How

much will I be responsible for paying?• How much time off will I have (vacation,

holidays, sick time)?• What types of retirement programs does

the company offer?• How does the organization support

employee wellness?

Getting an OfferGetting an Offer

• An official offer needs to include:– position title– starting salary– start date

• Avoid accepting an on-the-spot offer– do some homework and evaluate the total

compensation before accepting – a lower salary may be equal if the value of the

benefits package is more• Know the decision deadline

– ask for an extension if necessary

Job Offer ContingenciesJob Offer Contingencies

• Offers often have contingencies attached– pass a physical examination– document your citizenship or immigration status– obtain security clearance– undergo a thorough background investigation,

including credit history, police records and travel history

– verify your academic credentials• Non-Compete Agreements

– to prevent former employees from working for competitors for a specified period of time

““Total Compensation”Total Compensation”

• Benefit portion typically ranges from 25-35% of base salary

• Be aware of details of the benefit program and calculate the full value of salary and benefits--”Total Compensation”

• Do your research on salary and benefits– have a “bottom-line” compensation figure,

the minimum you’re willing to accept– calculate what you need to live on, adjust for

cost-of-living index for the city/area

Benefits PackagesBenefits Packages

• Time away from work– vacation– holidays– sick days/personal days

• Work arrangements– flex time– telecommuting– overtime, comp time, travel premiums

• Relocation expenses

Benefits PackagesBenefits Packages-Insurance-Insurance

• Medical

• Dental

• Optical/Eyecare

• Life Insurance

• Accidental Death

• Disability

• Business Travel

Benefits PackagesBenefits Packages-Retirement, Stock Plans-Retirement, Stock Plans

• 401k Plans– check on company matches on your contribution– check the time it takes to vest in the company

matching amount

• Pension Plans– many companies are cutting back on these

• Profit Sharing– typically at discretion of executive management– excellent benefit when company is profitable

• Stock Options/ESOPs (Employee Stock Ownership Plans)– buy stock at a discount from market value

Benefits PackagesBenefits Packages-Additional Perks-Additional Perks

• Tuition reimbursement

• Professional/Advanced training

• Expense reimbursement

• Dependent care

• Flexible Spending Accounts(pre-tax)

• Employee Assistance Programs

Benefits PackagesBenefits Packages-Additional Perks-Additional Perks

• Health Clubs

• Transportation Programs– parking/commuting reimbursement

• Professional membership dues

• Special company discounts

• Unpaid leave time

• Termination agreement (severance pay)

Rating Your Job OffersRating Your Job Offers

• Rate the jobs on the same criteria– determine the criteria most important to you– base criteria on your priorities

• Create and use a Decision Matrix– use a system that works for you– try to be as objective as possible

Decision MatrixDecision MatrixExample 1Example 1

Employer Score Card

Issues to Consider It's Important to understandImportance

to You Company 1 Company 2

Organization Performance

The level of employment stability you can reasonably expect given the organization's market strength and the values of its management 3 4 3

Organization Values The values that are important to the organization and how it conducts its business affairs 4 5 3Nature of the Work The substance and purpose of the job in the organization--this includes the value of your

contribution, the level of personal accountability, assignment variability and challenge 5 5 4Work Environment The atmosphere of the work environment, the quality of the facility and surrounding area 3 4 4Professional Development Opportunities

The resources available to broaden your knowledge and prepare you for more variable assignments--these may include in-house and external training, on-the-job coaching, tuition reimbursement, professional certification programs and job rotation 4 3 4

Work-Life Balance The degree to which the organization's values, programs and practices accommodate your personal needs--these may include flexible work scheduling, work-at-home arrangements and child care assistance 4 3 3

Base Pay The regular stream of income you will receive, consistent with the value of the job in the marketplace and responsibilities in the organization 5 4 4

Variable Pay The additional cash compensation you may receive for your individual contribution to the organization's performance--this may include individual bonuses, sales commissions, profit sharing and stock options 2 4 3

Benefits The level of protection against loss of income due to illness, death or your need for time off 5 4 4

Overall Organization Score 35 36 32

After gathering information, complete a Score Card for each company to compare. Grade each organization from 1 to 5 (with 5 being the highest rating) on each aspect of the job. Consider both the organization's performances in each areas as well as how important each issue is to you personally.

Decision MatrixDecision Matrix Example 2Example 2

Company

Starting Salary 47,000Bonus 0 (1st yr), 3-5k afterCompany Car noTravel? yes

If yes, how often? 6x per year,3-5 days/tripReimbursement? yes

Promotion outlook 2-5 yr, performance dependentHow often are you paid? 2x monthMedical Plan Yes X No CostDental Plan Yes X No CostVision Plan Yes X No CostPrescription Plan Yes X No CostOther Plans Yes No CostProfit Sharing Yes No X EligibilityRetirement Plan Yes X No Type

Your eligibilityYour contribution Their contribution

Vested whenVacationSick TimeHolidays

Yes X No AmountYes X No Amount $1500/sem

on -the-job, mentor, classes with other new hiresWhen do they want you to start 1-JunOther information

Educational reimbursementWhat kind of training will you receive

CONSPROS

Job offer #1

Evaluating A Job Offer

$75 / mo$3 / mow/ medical$10/15/35 copay

$2000 +mileag

401k, company pd pension

10 plus 1 personal holiday

1-2 yr 10 days, 3-4 12 days, 5-9 yr 15 days

401k: immediateup to 15% of salarymatch 50% up to 6% of salary

as needed

3 yrs 75%, 5 yrs 100%

Are moving expenses covered

Company

Starting Salary 50,000Bonus 3-5KCompany Car noTravel? yes

If yes, how often? 1 week per monthReimbursement? yes

Promotion outlook 5+ yrsHow often are you paid? 1x monthMedical Plan Yes X No CostDental Plan Yes X No CostVision Plan Yes X No CostPrescription Plan Yes X No CostOther Plans Yes No CostProfit Sharing Yes X No EligibilityRetirement Plan Yes X No Type

Your eligibilityYour contribution Their contribution

Vested whenVacationSick TimeHolidays

Yes No X AmountYes X No Amount to $5k/yr

on -the-job, classesWhen do they want you to start 1-JunOther information $3000 lump sum signing bonus for expenses

10 days

1-5 yr 10 days, 5-9 yr 15 days

wait 1 year for company matchup to 15% of salarymatch 75% up to 8% of salary

2 days/year

5 yrs 100%

Are moving expenses covered

401k

after 1 yr employed

$100 / mo$5 / mo$5 / mo$15/20/30 copay

Job offer #2

Evaluating A Job Offer

Educational reimbursementWhat kind of training will you receive

CONSPROS

After the DecisionAfter the Decision

• Communicate your acceptance– verbal acceptance is ok– follow with written acceptance or return

employment agreement to company• Respond to all job offers

– not necessary to say what company you accepted with

– communicate your appreciation– keep contact information

Evaluating Internship Evaluating Internship OffersOffers

• Don’t need as much detail as full-time• Important things to consider

– Site visit possible?– Level of responsibility/Type of work– Hourly vs. Salary– Start/end dates– Relocation expenses– Housing provided?– Other interns?– Vacation possible?

• Don’t be afraid to try something new

Questions on Job Offers?Questions on Job Offers?

Success vs. FailureSuccess vs. Failure

• Success can be measured in different ways• For every 1 way to succeed, there are at least

99 ways to fail• If you don’t know the criteria for success,

you’re almost guaranteed to fail• Giving a “C” effort or result is unacceptable• Giving an “A+” effort is usually unnecessary

Problem SolvingProblem Solving

• School– A 4x3-13 centrifugal pump

is supposed to deliver 90gpm of 100F water to a tank 35 ft above the centerline. Figure 14.2 shows the layout of the 2” discharge pipe, and Figure 14.3 shows the associated pump curve. The current power input is a 1750 rpm, 3 phase, 460V, 18FLA, 30Hp motor. Determine the pressure the pump must supply and whether the motor is sufficient.

• Work– That pump isn’t

working right. Go fix it.

Problem definitionProblem definition

• Problems are not always clearly defined• Often need to choose how accurate to be (i.e.

how much safety factor)• You will need to make assumptions, but

assumptions are based on experience• Never work on the solution before you know

the question• Determine scope for an acceptable solution

– Design? Budget? Implementation?

Problem solving processProblem solving process

• Vendors can often do some things for you, so don’t waste your time trying to do everything

• Equations and calculations are great, but try using them as your last option

• Sometimes half the problem is determining the values of your variables

• Always list your assumptions

Problem SolutionsProblem Solutions

• The solution to a problem is very rarely a number that you put a box around

• Once you have a solution, you generally still need to “sell it” to everyone

• How you present a solution is just as important as the solution itself

• If you involve multiple people in the process, they are more likely to accept your solution

The Almighty $$$The Almighty $$$

• Every business is out to make money

• The best solution and the right solution are often two very different things

• Just because you develop a solution does not mean that it will be used

• Almost every calculation ends with an economic analysis

Time ManagementTime Management

• You are ultimately responsible for managing your time effectively

• Set a schedule and track your progress

• Don’t volunteer for everything possible

• Imagine being handed the text book, the syllabus and the date/time for your final – could you pass the class?

Company CultureCompany Culture

• Pay attention to “unwritten” policies– Lunch breaks/personal time– E-mail– Internet usage

• Follow corporate guidelines on:– IP security– Cleanliness/organization– Safety

Office politicsOffice politics

• In school, you just do your work and receive a grade for it

• At work, personal advancement is not always measured on merit alone

• You don’t need to impress everyone, just the right people

• You never know who will be your next boss• You can’t burn too many bridges

A diploma is just a piece of A diploma is just a piece of paperpaper

• Graduating with a degree in engineering means you’re done learning the first 20%

• School taught you problem solving skills, you need to learn how to use them in the workplace

• Don’t expect to work just as one type of engineer (ME or ChE, etc.)

• Experience and accomplishment is what really matters

• High School senior versus College freshman• You can learn something from everybody

CommunicationCommunication

• It doesn’t matter how good your idea is if nobody else can understand it

• There is no excuse for poor grammar or spelling, especially for external communication

• Always send professional e-mails– You never know who they will be forwarded to

• Never write a paragraph when a sentence will suffice

• Provide answers, but be ready to supply method if asked

PrioritiesPriorities

• Discuss priorities with your boss

• If everything is a priority, you have problems

• In school, everything is important and must be completed in one semester

Other DifferencesOther Differences

• If you’re not a morning person, set 2 alarms• Oversleeping is inexcusable, and napping is even

worse• You can afford better beer but have less free time

to drink it• You will not have every computer program on earth

available to you, so don’t be surprised if you don’t have Maple to do all your math

• Never complain to the parent of a newborn that you got “only” 6 hours of sleep last night

• Do or do not, there is no try

Questions?Questions?

John Hillmann

Jeff Mowris