Things to understand about a job offer
Disclaimer: Federal and state laws change. I am not a lawyer. At the bottom of this article, I have posted a link to a source for information. The points in this article will helpful lead readers to find the information they need.
A job offer is more than an invitation to go to work for a company. Depending on the company and the type of job, a job offer includes these elements.
- Salary, Bonus
- Benefits to include medical/dental benefits, vacation, paid holidays, retirement, profit sharing, stock plan
- Job title
- Job function
- Quality of your supervisor
- Location of the job
Federally Required Employee Benefits
The federal government requires all companies to provide some benefits. Companies with an effective human resources program give people information on the federal benefits as part of the job offer. Here is a list of those benefits:
The following states and territories require businesses to provide partial wage replacement insurance coverage to their eligible employees for non-work related sickness or injury:
- New Jersey
- New York
- Puerto Rico
- Rhode Island
The majority of common leave benefits offered by employers are not required by federal law, and are offered to employees as part of the employer’s overall compensation and benefits plan. These leave benefits include holiday/vacation, jury duty, personal leave, sick leave and funeral/bereavement leave. However, employers are required to provide leave under the Family and Medical Leave Act (FMLA).
Family and Medical Leave
- The Family and Medical Leave Act (FMLA) entitles employees up to have 12 weeks of job-protected, unpaid leave during any 12-month period for any of the following reasons:
- Birth and care of the eligible employee’s child, or placement for adoption or foster care of a child with the employee
- Care of an immediate family member (spouse, child, parent) who has a serious health condition
- Care of the employee’s own serious health condition
- FMLA requires group health benefits to be maintained during the leave as if employees continued to work instead of taking leave. FMLA applies to private employers with 50 or more employees, and to all public employers. Visit the Department of Labor’s website for more information.
Social Security Taxes
Every employer must pay Social Security taxes at the same rate paid by their employees.
Businesses with employees are required to carry Workers’ Compensation Insurance coverage through a commercial carrier, on a self-insured basis, or through the state Workers’ Compensation Insurance program. Visit the Workers’ Compensation page for more information.
Understanding the job offer
Before you sign an offer letter, understand your job offer. Ask the hiring company to help you with things you do not understand. Talk with your confidential mentor and friends and with your spouse before signing a job offer letter. If you are looking at a job offer right now, congratulations and good luck with your decision.
- Federal Law Source: SBA.gov: The US Small Business Administration