Always Check These 3 Points before Accepting an Offer Letter

Getting an offer letter for a new job is an exciting moment for a professional. At the same time, accepting it without reading and understanding the terms and conditions could be detrimental to your professional journey in the organisation.  To gain better clarity, a few questions should always be asked to the HR. Here’s the list for you.

Even if you have been offered the right salary, ask for the break-down and the in-hand salary. How much salary is going to be deducted each month and under which taxation or employees’ fund rules these are deducted should be understood. Sometimes, it may happen that though the overall package is good, a major part of the salary gets deducted in various schemes apart from taxes. In the end, the in-hand salary might not be sufficient for expenses beyond the regular expenditure. Hence, it is a wise decision to understand salary structure mentioned in your offer letter. 

Further, along with the HR, do ask the former and existing employees whether salary gets credited on time. Late transfer of Salary is not a pleasant scenario to deal with, no matter even if you earn a six or a seven-figure salary every month.

Also Read: Read your offer letter to recognize termination clause

Read the rules, regulations, and criteria for promotion in your organisation. For example, in some organisations, seniority is considered an important factor for promotion to a certain level. This means you must have spent a particular number of years in an organisation to get promoted to a higher position. If that is the case, check how many years are stipulated for it and say no if it is an unrealistic figure. Second, check the training and advancement programs offered by the company and their timeline. Remember if you are not growing as a professional, you are cutting down on your chances of professional mobility. This could hinder your growth if you wish to change the job during the tenure of the work. You will not be able to do this easily as you failed to upgrade your skills. Further, companies respect those employees more who show the capability to go places, not those who show signs of co-dependency in your relationship with your profession.

Along with competitive wages, companies also offer benefits like health insurance, provident fund, pension scheme etc. A share in stocks, paid vacations, reimbursements etc. are some other added benefits which a company may or may not offer. The objective is to add elements of social security and job stability and move beyond the transactional nature of employment. Further, it is also done to make job offers more attractive and attract the best talent. So, first, you need to check the benefits mentioned in the offer letter. While you should not be compromising on factors like health insurance and retirement savings schemes. You may choose the added benefits mentioned above and decide what is important to you. For example, if company A offers paid vacations and company B offers a share in stocks, you need to pick according to what suits your needs and expectations from a job better. 

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