If you’re a collegiate athlete, you may have had an official signing day – the day you committed to a school. Most collegiate athletes understand the rules of commitment: you can commit to a school verbally at any time, but it’s unofficial until you sign a letter of intent. That’s an actual contractual agreement that binds you to what you’ve said you will do.
As you get ready to graduate, you’ll be facing another signing day, this one with a company that will get you started on your chosen career. Today’s very competitive labor market means you’ll have lots of options. How you handle them is the first test of your professionalism and readiness to step into your new role.
It can be confusing to think about what you really want from your first career position. You might have been so focused on your sport that you never spent much time visualizing a day on the job. You may still have months before graduation, but companies are already making offers and pressuring you to sign.
How do you decide which offer to take and when to sign?
Here’s our best advice. First, we advise you to take this decision seriously. Your commitment to the company that makes the offer is as important a commitment as the one you made to your sport, your team, and your school. There are no NCAA rules or officials to set the standard here – you only have your own conscience to guide you. Of course, you can back out of any commitment to a company if you decide the job is no longer the right fit for you. But it’s not an optimal start for your career. So don’t make a commitment until you’re sure it’s what you want.
But how do you know when it’s the right offer?
We suggest creating a checklist of values and priorities that use you use as a guide to decide. We’ll call it the Choice / Challenge Checklist.
You’ll need to identify your most important priorities. These are your non-negotiables, if you have any. Here are some factors that might be most important to you:
- Location within a specific city or part of the country – how much does the length and ease of your commute matter to you?
- Training and growth opportunities?
- Duties you don’t want as part of your job: too much travel, sitting at a desk all day, whatever you know for sure will make you unhappy at your job.
Next. List your preferred salary, salary structure, and benefits package. Do you need robust healthcare coverage? Would you thrive more with a secure base salary (which might be safe, but offer less potential for total compensation) or a lower base with the opportunity to earn more in performance incentives? This is a question you should give deep thought to before you consider offers; your tolerance for risk may determine both your potential success and your job satisfaction.
Is working from home or a flexible schedule a priority for you? How important is it? (Keeping in mind that entry level employees might have less negotiating power in these matters than senior employees.) Think about other nice-to-have perks that would sweeten the deal for you and tip a job offer into the “yes” column. Make a note of the items on your wish list.
Finally, let’s really talk about salary.
There are three numbers you need to know. The first is the bottom-line amount you need to earn to be independent. Calculate a ballpark figure for rent, utilities, transportation, food, entertainment, and other necessities. You won’t be able to accept an offer for less than this amount, no matter how dreamy the job may be.
The next number is the market value range for the position you’re seeking. This is the number range that will most likely inform the offer you’ll receive. Keep in mind that as a recent graduate with limited experience, your offer will be on the low end of the market range.
With those first numbers in mind, you can allow yourself to define the third number which is what would be a thrilling salary – one you’d define as a great offer. If a company hits this number, you’ll gladly accept, unless there’s some poison pill in the job duties.
You can assign numeric values to all of these factors including salary: five points (positive or negative) for your must have factors, maybe three points for your nice to have factors, and one point for things that are pleasant surprises – or not so great aspects of the job.
When you’re considering an offer, do the math. An offer that meets your points threshold is worth serious consideration. Yes, there may be a better offer out there somewhere, but there’s great benefit in committing early to an offer you know works for you. You can spend your energy preparing to ace your finals rather than chasing interviews. You can also start preparing for your new job, finding a great place to live, and looking forward to the next chapter of your life. You know the feeling of being ahead of the game. Committing early will help you feel that way again.