Whether you’re starting your first job, or your fourth or fifth, we’ll walk you through the things you should consider when starting a new job.
Gone are the days when you would graduate from college, get a job and stay there for the entirety of your career. A Gallup study showed that 21% of millennials have changed jobs within the past year, which is more than three times the number of non-millennials who report the same. Fifty percent of millennials and 40% of non-millennials don’t expect to be working at their company a year from now.
All of this is to say it’s highly likely you will be changing jobs a few times throughout your career. Whether you’re starting your first job, or your fourth or fifth, we’ll walk you through the things you should consider when starting a new job.
Money isn’t everything, but let’s face it, it’s a big factor. Whether you’re starting your first job or considering changing jobs, do your research and in the words of Khalid, “know your worth.” Is the salary enough or would you rather be earning more? Will you be able to live on that amount? Take a look at your budget to help you determine how comfortable you’ll be on that amount.
If the answer is “not comfortable enough,” then ask if the salary is negotiable. Most employers may not lead with that, but if asked they may be willing to negotiate. And if the candidate has a lot to offer, the employer will most likely want to give a little to get the hire.
You should find out your total compensation plan. Compensation is not only salary, but other benefits as well that can include:
All of these items should be considered with evaluating your total compensation.
Most people don’t want to have to change companies every year. Knowing that you will face new challenges and acquire new skills and experience without having to leave is a big incentive. Ask about not only vertical growth, but lateral opportunities as well. As your skills and experience evolve, you may find your interests and goals evolve, too.
Although it’s tough to get a complete picture just through the interview process, try to get an idea of the company culture. Look at their social media pages, Glassdoor reviews. Talk to current employees to get their thoughts and reach out to former employees through LinkedIn to find out why they left. Take it all into consideration as a whole, but keep in mind consistent themes (good and bad)
Even if the position checks all the boxes and seems to be a good fit, none of it matters if the company isn’t around for you to grow with. Do some research- does the company have a history of cutbacks or layoffs, legal or financial troubles? If the company is public, you can look at their financial statements and annual reports. A look through internet searches and social media pages could give you some insight if there are any red flags you should be aware of.
75% of candidates will research a company’s reputation before applying for a job opening. And 75% of candidates would not take a job with a company that had a bad reputation, even if they were unemployed.
The possibility of a new job can be exciting and stressful! The employer is investing in you as much as you are in them and wants a good fit, too. Be sure all your questions are answered and don’t feel shy about asking too many. Take your time and thoroughly consider all the factors before making a decision.
Helping 150+ top U.S. companies establish financial wellnessGet started!