You’ve been through several rounds of interviews, and you want this job! Your gut tells you it’s right. It meets your “wants” and “non-negotiables.” You’ve had conversations to clarify the heart of the job and the company. And they seem to want you! They said so!
Finish line alert!
Remember: A job is not yours until you have it in writing, so keep your job search in full swing until you have a written job offer!
Don’t say yes, or quit your current job, until you have your job offer in writing.
It’s fine to accept an offer verbally, but let the hiring manager know it is an information acceptance until you get an offer letter. You must see everything in writing – job title, description of responsibilities, compensation, and benefits. For example, does your healthcare commence immediately, or do you have to wait several months? What about your 401K? When can you start contributing to that? What about bonuses, 30-, 60-, or 1-year expectations? What’s the start date?
Many folks accept jobs where the employer says, “We’ll figure that out when you’re here.” Don’t count on that!
You hold your most power at the time a job offer is extended, and the company is waiting for you to start. If you are given an offer from a small company that has never written a formal offer letter, be cautious regarding your situation – and helpful to them! Find a sample on the Internet and create it based upon what you understand the job to be. A formal job offer is an agreement to terms. Here’s a sample:
Dear [Applicant Name],
[Company Name] is excited to bring you on board as [job title].
We’re just a few formalities away from getting down to work. Please take the time to review our formal offer. It includes important details about your compensation, benefits and the terms and conditions of your anticipated employment with [Company Name].
[Company Name] is offering a [full time, part time, etc.] position for you as [job title], reporting to [immediate manager/supervisor] starting on [proposed start date] at [workplace location]. Expected hours of work are [days of week and hours of work].
In this position, [Company Name] is offering to start you at a pay rate of [dollar amount or annual base salary] per [year, hour, annual salary, etc.]. You will be paid on a [weekly, monthly, etc.] basis, starting [date of next pay period].
As part of your compensation, we’re also offering [If applicable, you’ll describe your bonus, profit sharing, commission structure, stock options, and compensation committee rules here].
As an employee of [Company Name] you will be eligible for [briefly name benefits, such as health insurance, stock plan, dental insurance, etc.].
Please indicate your agreement with these terms and accept this offer by signing and dating this agreement on or before [offer expiration date].
Sincerely, [Sender Name]
If asking for a formal letter means you lose the job, you don’t want to work for that company. If they don’t care enough about you now, they will care less about you once you are on board.
Navigate bonuses and/or commissions carefully.
If your sought-after job includes bonuses and/or commissions, ask to see the plan in writing before accepting an offer. Be sure you are crystal clear about what you need to get paid. Unless you have it in writing, you’ll lose your right to challenge a bonus you were told verbally would be X percent. I can’t tell you the times I’ve known candidates to move in good faith, to have it come back and bite them in the you-know-what!
This is so important! I see it happen all the time, with the best intentions. Job offers are extended. Then, hiring authorities move on to another place. Budgets get cut. People quit or get let go. Mergers and acquisitions put all hiring on hold or in question. Don’t be left wondering what happened to what was promised you when hired. Protect yourself against unforeseen circumstances.
A formal offer letter is not a guarantee that your job won’t change or dissolve. There are no guarantees. But it is a safeguard toward protecting your best interests.
I always love to hear from you! Please feel free to comment below.
