Personal Finance

How to Decide Between Multiple Job Offers

A woman throws her arms in the air.

When looking for a job, most people cast a lot of lines. To increase your chances of getting hired you send out a lot of resumes, put in multiple applications, and, if things are going well, go on at least a few interviews.

If that happens and you have multiple irons in the fire, it's possible you will get more than one job offer . That's a problem of the best kind. Yes, it's not fun to have to turn someone down, but you get a chance to weigh both offers against each other and perhaps even engage in a bit of negotiating.

Picking one job over another is often not easy, in part because once you do it's easy to second guess yourself. Still, if you follow a measured, reasoned approach, you should be able to reach the right decision.

A woman throws her arms in the air.

Getting multiple offers is a reason to celebrate. Image source: Getty Images.

Congratulations

Before you work on solving your dilemma, take a step back and salute yourself for what you have accomplished. It's not easy to get a job offer, let alone multiple offers.

Once you have done that, do a basic inventory. Are both offers the same? Does one clearly offer more money or a better job title? Is one company a safer bet for long-term success?

If the answer to any of these is clear, then you probably know which job to take. If it's not, and the offers are similar, it's time to dig in deeper.

How to decide

Make a pros and cons list for each job. Maybe the salary, benefits, and title are comparable, so go deeper than that. Does one company offer a better path toward promotion? Does one offer better secondary perks than the other? Consider ancillary factors like how long your commute will be and whether either job offers the ability to sometimes work from home.

If they are still tied and you have not made a decision, pick one of the jobs and tell the person making the offer your situation. Let them know you have another offer and that you are unsure. If there's something specific you want (more money, an extra week of vacation) ask for it.

Should the employer sweeten the deal, accept the offer. If they don't, it's possible to try the same thing with the other company -- but you do run the risk of alienating both potential employers.

Do this next

If neither company will offer more than their original offer, you still have to make a decision. One way to do that is to look into the paths of other people who once held the job you are being offered. Use LinkedIn to examine career paths and see if one company offers a clear edge over the other.

Should that fail to produce a difference, go over everything once again and make sure the offers and situations are truly equal. If that's the case, just make a decision and politely tell the loser you were truly torn and that you hope to work together in the future.

Never look back

Once you make a decision, truly put it in your rearview mirror. It's not productive to think "what if?" every time you hit a bump in the road.

Feel fortunate that multiple employers wanted you and be confident that you did all of your homework. After that, go forward in your career and do the best job you possibly can.

The $16,728 Social Security bonus most retirees completely overlook

If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,728 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies .

The Motley Fool has a disclosure policy .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Stocks

Latest Personal Finance Videos

    #TradeTalks: A Holistic Financial Picture to Give a True Indicator of your Financial Health

    Harvest Founder Nami Baral joins Jill Malandrino on Nasdaq #TradeTalks to discuss the Harvest PRO Index, holistic financial picture to give a true indicator of your financial health, not just a credit score.

    Oct 9, 2020

    The Motley Fool

    Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

    Learn More