There is nothing more exciting than being offered a new job, especially if you are a recent graduate from college. If the salary is according to your expectations, that is just amazing.
But is there all there is to it? Don’t you think you should be looking into your employment contract and understand everything that’s in it before signing on the dotted line? You should, and here’s a list of the things you should be looking at in the employment contract.
What does it say about your salary and benefits?
How accurate is the employment contract? Does it explicitly state what was on the offer letter, or is it any different? In particular pay attention to the salary and benefits quoted in the contract. What about the bonuses, commission or performance, health cover, equity options? Are your bonuses and benefits guaranteed or are they discretionary? Are the bonuses and benefits based on your performance? If so, what are the targets to be met?
What does it say about your job title and responsibilities?
What’s your exact role within the organization? What are the duties and responsibilities that you are required to do by your employer? The job description should be as specific as possible – the wider it is, the harder it can get for you, as you would be expected to do a lot of extra work that you had not bargained for at this stage. Also pay attention to the job title – is it accurate? Does it describe the role that you had applied for?
What does it say about your place of work?
When signing the employment contract, you should be very specific about your place of work. Say you have agreed to work within a large geographical area, such as North America and Europe. Later on, if you refuse to move to a particularly far off location, your employer would be well within their rights to take action against you. So you better get this cleared at the outset.
What does it say about your hours of work?
This is the most important part. The employment contract should be very clear about the hours of work. It should also include an option for flexible working. It can have a slight variation on the agreed working hours. It’s better to be clear about this right now, because it might get really difficult for you later on if the employer asks you to come on weekends or work at night – especially if you are a woman and have family responsibilities. Also check before signing the contract if you would be expected to work overtime, and whether you would be paid extra for it.
What does it say about your leave options when you can take holidays?
The contract should be very clear about the sickness leave, study leave, compassionate leave and casual leave. If there are any limitations on this, this should be clearly stated. Does the employment contract say that you cannot take holidays whenever you would like to? In that case you should talk to the employer about when it is permissible to take a holiday, and for how long.
What about the notice period in case you want to leave the job?
The notice period is one of the most important things you need to look for in the contract. After all, you might get better job offers in the future, which you will want to take for the advancement of your career. The notice should not be too long or too short. Generally, a notice period of one to two months is acceptable. If the notice period is too long, it might hurt your chances of getting the new job. If it is too short, then it adds to the instability of the situation.
The importance of looking closely at the employment contract before signing on the dotted line cannot be emphasized enough.