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Job Offers: Choosing between Job Offers
Evaluating a Job
Offer | Choosing between Offers
Negotiating | Cost
of Living Index | Accepting/Declining
an Offer
You are fortunate if you have the dilemma of choosing among several job offers. Understanding your compensation package and comparing other key criteria will help you make a decision that best fits your needs.
Compensation Considerations
There are two main types of compensation: salary and commission.
Only positions with at least some salary attached to them provide guaranteed
income. In these positions, your income increases through promotions,
annual merit raises, and sometimes bonuses. An offer is usually followed
by information on the organization's benefits package.
Employers may offer comparable salaries, but one may be more attractive because of a 401 (k) savings plan, ESOP (Employee Stock Ownership Plan), a cafeteria or flexible benefit plan, etc.
Some industries (especially stock brokerage, insurance, and real estate) use a straight commission compensation structure for sales employees. There is no guaranteed income in a straight commission job. Instead, an employee is paid a percentage of the sales they generate. (For example, in life insurance you may be paid 50% of the first year's premiums on the policies you sell. A computer firm may pay 3% of the computer price.)
Many new hires in commission sales are expected to pay for the cost of their training and licensing requirements. This can total several hundred dollars.
It normally takes at least several months to begin to generate sales leads and income in a commission position. There may be a draw (an advance against commission) during this period. The draw is subtracted from commission checks until it is repaid.
It is usually much easier to find a straight commission sales job than a salaried position. Because of the reimbursed training costs and the commission structure, employers have little to lose if you are unsuccessful. Consequently, these jobs are characterized by high turnover.
Commission sales jobs will appeal to people who are comfortable with a high-risk, high-reward career.
Although it is not appropriate to ask about the salary in an interview, you may inquire whether a sales position is salaried or paid by commission.
Questions, comments? Email us
at ucs@unc.edu
919-962-6507
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