Evaluating a Job Offer & Differences to Expect

Evaluating a Job Offer&Differences to Expect Presenters: John Hillmann Jeff Mowris

Agenda • Introductions • Evaluating Job Offers • Transitioning from School into a Professional Environment • Questions

Before 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 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 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 Looking 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 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 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 Personal 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 of 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 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 for 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?

Benefits • 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 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 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” • 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 Packages • Time away from work • vacation • holidays • sick days/personal days • Work arrangements • flex time • telecommuting • overtime, comp time, travel premiums • Relocation expenses

Benefits Packages-Insurance • Medical • Dental • Optical/Eyecare • Life Insurance • Accidental Death • Disability • Business Travel

Benefits Packages-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 Packages-Additional Perks • Tuition reimbursement • Professional/Advanced training • Expense reimbursement • Dependent care • Flexible Spending Accounts(pre-tax) • Employee Assistance Programs

Benefits Packages-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 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 MatrixExample 1

Decision MatrixExample 2

After 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 Offers • 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?

Success 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

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 Solving

Problem 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 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 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 $$$ • 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 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 Culture • Pay attention to “unwritten” policies • Lunch breaks/personal time • E-mail • Internet usage • Follow corporate guidelines on: • IP security • Cleanliness/organization • Safety

Office 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 paper • 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

Communication • 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

Priorities • 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 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? John Hillmann Jeff Mowris

Evaluating a Job Offer & Differences to Expect