In this post-graduation season, many new MBAs are still on the job hunt, and I’ve been sharing advice from those who have gone before them into the job market. Today, we’ll turn our attention to the factors you should consider before accepting a job offer.
Realistically, in this economy, waiting for a second job offer may not be an option for some. Josh Leslie (pictured), a senior director of desktop business development at VMware and a Columbia Business School MBA, puts it succinctly: “How big is your mortgage? Do you have children counting on you? If you can wait, wait. If you can’t, don’t.”
Let’s assume you’re one of the lucky ones with some savings squirreled away, a spouse with a solid income or a winning lottery ticket. Here are some of the things you should look at when deciding whether or not to take an offer:
- 1. Consider the size of the company: “If you want to be a CEO and are in an early part of your career, you have to go somewhere with growth opportunities,” Leslie says. “In small companies, advancement opportunities are rare.” However, for other career paths, such as becoming an independent consultant, the size of the company is less important.
- 2. Look at the culture of the business: MBA grads going into banking, finance and consulting will be entering a culture that often expects its hires to work long hours and doesn’t make work-life balance a priority. For people who need more freedom in their schedules, service industries such as technology and manufacturing may be a better fit, Leslie advises.
- 3. Decide if the job will help you obtain your ultimate career goal: Though Leslie had no desire to spend his career in sales, his first job as an MBA graduate was a junior account representative. Why? His advisors told him that it was great experience for someone who wants to be an executive. Now that Leslie has transitioned into business development, he says his sales experience has been extremely useful: “Business development meetings are filled with great conversations, but getting impactful result can be elusive. Sales gave me the ability to focus on getting results.”
Conversely, the most important thing you shouldn’t do when considering a job offer is to get hung up on money. Leslie says to ask instead, “Is the company one you’re excited to work for? Is there opportunity for growth? If you get promoted several times over several years, you’ll make substantially more than the original pay. If you take the highest paying job, but there’s no opportunity for growth, or it’s a poor fit and you don’t get a promotion, you’ll make out poorly.”
