When we think about finding a new job, the salary on offer is often the biggest consideration. This is completely understandable, however, you should also consider other factors, such as travel and hours, which may be affected by your change of job. After all, these costs will go towards deciding your bottom line at the end of the month. So what things might you forget about in your haste to seal what seems like a dream deal? We’ve put together this handy guide on what to consider before signing a contract.
How much is it going to cost you to get there?
It seems like a fantastic offer, paying £2000 a year more than your current role…but suddenly it requires two buses to get there rather than one. Or perhaps you’re driving but there’s no free parking on offer. These are the kind of costs that can rack up over the course of the year so don’t just sign and hope for the best. Ask your prospective employers for any tips or guidance on the transport situation to make sure there isn’t a solution that you’re missing (sharing the journey with a colleague or another parking location that you weren’t aware of). Remember, it’s important to think about the logistics.
If the additional costs of the new job are going to outweigh the bump in your wages, then perhaps it’s time to negotiate or to consider what else the new role offers you apart from in purely financial terms.
How much is it going to cost you to live within commuting distance?
Make sure that the new role suits your current circumstances. These will differ depending on whether you’re single or have a family, whether you’re looking to buy or rent, whether you’re happy living the urban apartment life or can’t cope without having your own garden to retreat into at the end of the day. Be sure to look before you leap and check out the local housing market. How does it cater for your needs compared to your current location? If you’re not going to be able to feel happy and settled where you live, it’s going to make it more difficult to feel happy and settled in your new job.
What are you gaining or losing in the contract’s terms and conditions?
Your new employer may have different policies on holiday time, days in lieu, travel expenses and so on, that balance out any rise in actual wages. It’s also worth checking how many hours you’re actually expected to work. Does a small raise actually become a decrease in hourly rate if your new company has a working week 2.5 hours longer than your old one? If so, is it a situation that you’re comfortable with?
Of course, it’s not all about money…
Job satisfaction is governed by more than just money. So if any difference is minimal in financial terms but the opportunities offered are huge when it comes to the experience that will be gained and how happy you’ll be at work… go for it! If you’re not entirely happy then the right opportunity may still be out there somewhere.
Images by Zwiehan and Craig Freeman, used under Wikimedia creative commons licence.
