You’ve made it through what seemed like eternal rounds of interviews and they’ve finally given you an official job offer. What now? First of all, make sure that the job offer has been given to you in writing!!! It’s a reliable rule of thumb that anything not in writing is not a guaranteed. So what are you supposed to make of this job offer?
Well, it’s important to understand a “good offer” looks different based on where the job is (check out [insert] to see what the cost of living is like in the area you are considering) and what the job entails (you should expect a higher pay if you have to work the night shift than if you work a normal day shift). That said, lets breakdown your official job offer a bit:
Salary: Generally speaking, you should expect a job offer of $80,000 or higher as a new grad. But there are scenarios in which a lower salary is still a good offer. For example, a $75,000 salary coupled with guaranteed yearly profit shares/retirement package or student loan reimbursement assistance would still amount to a great offer!
Health Insurance: Generally speaking, employees pay for at least part of their health benefits, so if your job offer includes full medical, dental, and vision coverage then count yourself lucky! (You may also want to consider inquiring about the cost/option of including your family on your health insurance.)
- If they don’t offer full health insurance, they may offer some helpful alternatives like a Flex Spending account or Health Saving Account (HSA) that allows pre-tax money to be automatically set aside from your paycheck to cover your health insurance, life insurance, vision care, dental care, or child costs. The advantage here is that you have a lower amount of taxable income and therefore you’ll pay a lower percentage of federal income tax.
- This is where you’ll need to break it all down so that you know if the salary makes sense. Estimate that the federal government will take 25% of that salary, then look at the cost of living in the area (ie, rent, utilities, etc), account for your other bills (ie, car payment, tv/internet), and definitely don’t forget to factor in your student loans (often between $1,000 and $2,500/month)
Retirement Package: Generally speaking, you will have the option of putting a percentage of your pre-tax income into a 401k that your employers will match (often up to a certain percentage), so if your job offer includes guaranteed profit shares (ie, your employer puts money in your 401k regardless of how much you put into it) you should count yourself very lucky! This 401k is portable so you can take it with you if you change jobs in the future.
Vacation Time: Generally speaking, you should expect approximately 2 weeks of paid vacation each year during your first 1+ years on the job (anything more than that should be counted a generous offer). It is best to clarify with them that these paid vacation days do not include time spent at pathology conferences in which you are getting your CEs requirement for certification. If they do count conference attendance days as vacation time, this would be a good topic to negotiate with them because CEs are required for your job.
Sick Days: Generally speaking, sick days are days that you accumulate with each paycheck. You’ll likely start with only a couple sick days and your sick day bank will grow from there. It is a good idea to ask how much you get/accumulate each pay period – being in the know is always a good idea or you’ll inadvertently dip into your beloved vacation time!
Moving/Relocation Expenses Reimbursement: So there isn’t really a standard on this, but most offers will include at least $2,000 of moving expense reimbursement. This is likely negotiable, especially if you explain that you’re moving 1,000 miles and not just across town, etc.
Continuing Education: There really isn’t a standard on this either. Some employers offer it, some don’t. It is always a good thing to negotiate into your contract if they don’t standardly offer reimbursement for CEs and time off to attend conferences, etc (as mentioned previously, make sure they don’t count your conference attendance as vacation time). You can often also inquire about and negotiate their reimbursement of your national board exam fee (approximately $500) and your membership fees (ASCP and AAPA).
Tuition Reimbursement: Again, there’s no standard here. Some offer it, some don’t. The end. But here again, this student loan repayment assistance is negotiable so it doesn’t hurt to ask.
Sign-on Bonus: Another some do, some don’t thing that is easily negotiable. It is easy to make the argument that coming right out of graduate school you do not readily have funds available to you to put a deposit down on an apartment, move everything to a new city, etc, etc, etc so it is an easily negotiable topic. I will say, that generally speaking, if they do offer a sign-on bonus it is usually pre-tax (which is obviously a nice perk) but you should double check with them just to be sure…so that you’re in the “know”.
Ok, hopefully that helps a little. Just remember that you’re working with Human Resources at this point (not the pathologists or PAs…ie, your co-workers), so don’t be too shy – anything is negotiable! Just because your HR contact says $70,000 is the average starting salary for PAs in their region doesn’t mean it is (Who did they survey? Certified PAs?!), so definitely fact check that sort of thing and don’t hesitate to show them why that isn’t true or why your negotiated salary makes sense. It isn’t the most fun part of the job acquisition process (in my opinion), but the negotiations are a normal part of the process so it’s important to wrap your head around that.
I’ll leave you with this one tidbit of wisdom: don’t settle for a job you’ll dread. A good fit is out there, that’s a promise, so walk away if you need to.
Good luck – enjoy! Go get ‘em! 🙂