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So, you got the job! That’s so exciting and congratulations! When you receive the offer letter, the first thing your eyes might go to is the salary, and while that is a super important part, there are a few other portions of the letter that are just as important as your compensation, so let’s talk about them.
- Paid Time Off
- PTO is incredibly important! Make sure to read up on whether your offer includes PTO, how much of it is included, and how to use that PTO. At some companies, you need to accrue it, so you can’t use your PTO right away. This is different at every firm, so make sure to carefully read your offer letter. Additionally, many offer letters or benefit packages will disclose how your PTO will change as you continue working for a firm, such as additional PTO opportunities when you continue employment, so keep an eye out for that and take note.
- Benefits (Medical, Disability, Life)
- Benefits. Benefits are so, so crucial because all kinds of insurances are expensive and things happen. Better benefits are often a reason that individuals choose lower-salary positions. While there are so many benefits we could discuss, it really depends on the firm and your priorities. Medical and dental benefits, for example, are commonly discussed but other benefits that a company may offer are free gym memberships for general wellness. Make sure that you carefully check the details of your offer letter and figure out what kinds of benefits your firm offers, how much they will cost you per month, and how you can access them. All of this information may not be in the same place, so you should feel comfortable reaching out to a recruiter or employment contact to get your questions answered.
- Retirement
- Saving for retirement is hard to think about when you are a college student, but it should be a consideration! The offer letter should let you know what kind of plan your company offers when you can start contributing to it, and a maximum contribution. Additionally, you should figure out whether your employer will match your contributions. If you can’t find this information in your offer letter, it’s important to ask about it before you accept!
There are surely many more notable aspects of your job that may be found in your offer letter, such as bonuses, promotion policies, among others, so it’s incredibly important to read it in full. Remember to read anything in full and thoroughly before you sign it. Congratulations again and, remember, if you ever have any questions about an offer letter, make an appointment with a Career Coach via Handshake!
