How to Compare Engineering Job Offers
Congratulations! You’re about to graduate with an engineering degree, gone through multiple interviews and gotten a couple entry-level job offers. If you’re unsure of which one to take, here are some things you should consider to help you decide.
Work Hours
If you’re not a morning person, you probably won’t like having to be at work at 7 AM. I know this from experience, believe me! It’s always important to try and find out what the expected hours are.
You obviously don’t want to ask and make it seem like you won’t be able to make it in on time, but you do need to try and find out the details. Some places are very strict with work hours while others are much more flexible. Working somewhere with flextime can be a huge benefit especially when you have a family at home or hobbies that take time before or after work.
In addition to flextime, some employers have a 9/80 or a 4/10 schedule. These are super nice! If you work a 9/80 that means that you work 80 hours in 9 days. Basically, you get every other Friday off. Sure, your work days are longer but it’s so worth it!
A 4/10 schedule is similar except that you’ll work 10 hours/day for 4 days/week. That gives you every Friday off. Plus, you’ll save money because that’s one less day a week you’ll have to commute to work. Woohoo!
Studies have shown that having work-life balance and a flexible work schedule contributes to happiness. On the flip side, having no control over your working hours tends to lead to frustration and burnout.
Benefits
This one is fairly obvious, but benefits are a big part of your compensation package whenever you take a job. A few things to look at:
Healthcare
Which position offers the better healthcare? Some employers pay a much larger percentage than others. This can really impact take home pay, especially if you’re planning on having a family later on. Also, check on Health Savings Accounts – these can also provide you with a financial benefit.
Paid time off
2 weeks off used to be the norm in the U.S. but that’s slowly been changing. Many companies now offer 3 paid weeks of vacation which is an improvement. You do need to check and see when you can use your vacation time. Some employers will make you accrue your vacation time before you can use it. Others let you ‘go in the hole’ and use the time before you’ve earned it. This is a big deal if you have a trip planned in the near future.
Personal time & sick time
Some employers provide vacation time AND sick time while others don’t. Companies sometimes will just give you personal time. This personal time is yours to use however you want. The difference is that sick days count against this time. So, if you’re sick a lot it can cut into your days available for vacation.
Disability
Short-term and long-term disability plans are typically available at large employers. These can vary greatly in price and benefits, so you’ll need to compare your options. Most entry level engineers may not find these all that appealing but they are a huge deal for women engineers!
If you think there’s a chance you’ll being getting pregnant in the future, you’re going to want a good short-term disability plan. These plans will cover most, if not all, of your salary while you’re out on maternity leave. When you’ve just had a baby, the last thing you want to worry about is missing pay checks. A short-term disability plan will allow you to still get paid while you’re staying home, enjoying your new baby.
Tuition Benefits
Many companies want highly educated engineers and they are willing to foot the bill to make it happen. We’ve already covered why having the company pay for your graduate degree is a good idea (go here to read why). So, if you’re planning on going back to school this is one you’ll definitely want to check into.
The amount companies pay towards grad school varies. Some will pay 100% of the tuition while others have a per year limit. In most cases, you’ll have to study in a field related to your employer’s business. For engineers, this opens all the engineering areas including Systems Engineering and Engineering Management. There are also non-engineering degrees that are generally accepted; things like MBAs, Finance, Logistics, are accepted because the company can use those skills in running the business.
There is usually a catch though. Typically, you’ll have to agree to remain at the company for a specified number of years. If you leave early, you’re on the hook for all the tuition that was paid on your behalf.
Cross Training
For many engineers, it’s easy to get pigeonholed into one specific area. This isn’t a good thing for lots of people. You get trained and become knowledgeable on one system, process, technique, etc… This is ok until you get bored or are ready to switch companies.
Having experience in one very specific area makes it harder to find a new job or transfer to a different group in your current workplace. If you’re able to cross train in different areas, you’ll learn more, reduce the chance of boredom, and become a more valuable employee or new hire somewhere else.
Retention
If you can, you should try to find out why the position you interviewed for was open. It could be something as simple as the company is expanding, they got awarded another contract, or someone got promoted.
On the other hand, it could be because there is a high turnover rate in that position. If that’s the case, you need to know why. Is it that management is no good, are people overworked, are they bored? If engineers are happy with their technical work, coworkers, pay and working conditions, they tend to stay around for a while. People leaving all the time is generally a bad sign and indicates you need to investigate further.
Money
I saved the best for last! Money is obviously a huge consideration. It’s pretty obvious to tell which offer has the best salary in the short term. What’s not so obvious is the long-term salary you can expect. Does the company tend to give decent raises on a regular basis? Do they quickly promote people which leads to greater pay or are they slow to move people up the ladder?
Starting out with higher pay initially is great but if you don’t get a raise for several years you may fall behind the market. Always take this into consideration when comparing job offers. One may seem better initially but in the long term it may fall short. If you don’t know any current employees to ask, websites like Glassdoor, LinkedIn and Salary.com may be able to give you some insight into pay practices at a specific company.
So Many Things!
Wow! So many things to consider, right? I know it seems like a lot to think about but really you must do it to make sure you’re making a smart choice. Your first engineering job is a big step in your career. You want to make sure you’re selecting a company that will appreciate and support you and pay you for the value you bring to their business.
If you’ve gotten multiple job offers then you know your career is off to a positive start. It’s a sign that your skills, personality and resume are in great shape. Keep the momentum going – analyze all offers thoroughly and accept the job you’ll and thrive in. Happy job hunting!
