OK, this isn’t really a story… it’s more of a decision I need to make, and soon! Last week I received job offers from two companies, and I need to make a decision by this Friday. I’ve been thinking a lot about the job offers since I received them, and yesterday I wrote about factors to consider when evaluating a job offer. Now I am going to share with you a little bit about the job offers, and the factors that are important to me.
Evaluating the Job Offers
When I wrote yesterday’s article, I broke down the evaluations into 10 different factors to consider, though there can easily be many more than that depending on your situation. To make the comparisons in this post easier, I combined a few related factors together.
Job Position & Professional Opportunity. Both positions represent a great professional opportunity for me. The main reason I was looking for a new job was because I felt I had stagnated in my role with my current company and there was no room for me to grow in the direction I wanted. These new job offers represent a nice promotion in terms of scope responsibility. The job offers are fairly similar to each other and I know that whichever offer I choose, I will have plenty of opportunity for future growth.
Commute and Travel Requirements. The commute for both companies is very reasonable. Each is within a 30 minute drive, which isn’t too long and won’t cost too much for fuel. The travel requirements for both companies are practically nil. So neither of these issues will have much bearing on my decision. However, they could have if the commute was very long or if the position required too much travel.
Work / Life Balance. There is an important difference between the two companies. Company A has a rigid 8-5 work schedule with an hour lunch break, while Company B has a 40 hour per week requirement. The hours for Company B are stated as 8-5, but they don’t mind if you come in an hour early, stay an hour late, or take a few hours personal time – as long as you work the required 40 hours per week. There is also the ability to work from home for a few hours from time to time (for instance, if I had a plumber coming by and had to be home).
Salary, Compensation, and Benefits. Both jobs have similar health care plans. I will end up paying a little more than I am with my current job, but based on the professional opportunity and the potential pay raise I will receive, it will be well worth it. Both companies also offer tuition reimbursement, which is something my current company does not offer. The 401(k) plans for each employer offer the same company match, but the funds they offer are different. Vacation time and sick time plans are the same in terms of number of days, but one company separates the two, the other company places them in one pot of days off.
Here is where the offers differ:
Job Offer A. The most attractive part of this job offer is a 40% bump from my current salary. The tuition assistance this company offers is $5,250 per year.
Job Offer B. The salary for this job offer comes in at right about 32% higher than my current salary. Company B offers $10,000 tuition assistance per year, although anything above $5,250 is subject to income taxes (Federal law). Company B also has a pension plan in which I would contribute 3% of my post tax income, and would receive a 1.5% match.
Company Culture and Health. Here, the two companies vary substantially. Both companies are financially healthy and well-respected, but the culture between the two is very different.
Job Offer A. Company A requires a suit and tie M-Th, and has “casual Fridays,” when employees can wear polo shirts or button down dress shirts without a tie. Slacks (not jeans) are required on casual Fridays. The dress code is more formal because it is in a client facing environment nearly every day. The company’s reporting structure is very hierarchal and formal.
Job Offer B. Company B’s dress code is slacks or khakis and a polo or dress shirt; no tie required. There are some days when a tie and jacket may be required, but I hear they are rare and only if you are meeting with clients. Jeans are allowed on Fridays. The company structure is more team based and not nearly as formal.
To sum it up
Both companies offer a great professional opportunity, room for growth and promotion, reasonable commute and minimal travel requirements, good health care benefits, similar 401(k) plans, and the same number of days off.
The main differences are these:
Company A: 40% pay raise, $5,250 tuition reimbursement, formal company structure, formal business attire, rigid 8-5 schedule
Company B: 32% pay raise, $10,000 tuition reimbursement, informal company structure, business casual attire, flexible schedule, pension plan
No decision yet, but I’m leaning toward one company. I haven’t accepted either offer at this point, but I have until Friday to sign and fax the acceptance letter. I will make the decision with my wife, but we are both leaning toward one offer more than the other. If you know me, I bet you can guess which one I will choose.