Congrats! you just landed your dream job, here's how to decipher the offer [thread]
it all happens quickly - you land an offer & start filtering mansions on Property24 from high to low, being posting motivational quotes on IG with #MoneyNeverSleeps & even start buying popcorn at Ster Kinekor
... a month later you're hitting refresh on Lulalend
... a month later you're hitting refresh on Lulalend
1. What's the length of this contract?
There's a HUGE difference between full time, part time/ contract & freelance work. This impacts how you pay tax & the types of benefits you receive.
Importantly, it will help build a bulletproof budget
There's a HUGE difference between full time, part time/ contract & freelance work. This impacts how you pay tax & the types of benefits you receive.
Importantly, it will help build a bulletproof budget
matching inflows & outflows is where many creatives, athletes & influencers really get hurt
why? most fixed debt commitments (think cars/ houses/ personal loans) need monthly servicing & regular payments
when you're earning once every few months - it's really easy to mess up
why? most fixed debt commitments (think cars/ houses/ personal loans) need monthly servicing & regular payments
when you're earning once every few months - it's really easy to mess up
another area not earning a regular salary really hurts? trying to secure credit
ask any entrepreneur how soul crushing it is to try & secure a business/ personal loan when cash flows aren't consistent
building up a cash reserve helps survive unexpected emergencies
ask any entrepreneur how soul crushing it is to try & secure a business/ personal loan when cash flows aren't consistent
building up a cash reserve helps survive unexpected emergencies
2. Your CTC (cost to company) is not your net salary
R600K/ year CTC = R50k/ month is a dangerous mistake.. & also how you end up on Betway trying to pay rent
most companies are happy to share a mock payslip so you can actually see how much you end up taking home after tax
R600K/ year CTC = R50k/ month is a dangerous mistake.. & also how you end up on Betway trying to pay rent
most companies are happy to share a mock payslip so you can actually see how much you end up taking home after tax
3. Check those friends with benefits
Not all benefits turn out to be good ones (ask me how I know). Employer contributions to medical aid, pension funds, etc is great - but often those products aren't the best for you
Know exactly where your money is going
Not all benefits turn out to be good ones (ask me how I know). Employer contributions to medical aid, pension funds, etc is great - but often those products aren't the best for you
Know exactly where your money is going
There's nothing worse than finding out that "professional" medical aid plan is only professional at taking your money every month
knowing exactly what you're covered for & your claims policy is massively important
(also for the liver transplant you will probably need)
knowing exactly what you're covered for & your claims policy is massively important
(also for the liver transplant you will probably need)
4. Leave days
maternity leave, study leave, general leave, hangover leave - all worth knowing & understanding
there's NOTHING worse than having to grind over festive because you can't count
maternity leave, study leave, general leave, hangover leave - all worth knowing & understanding
there's NOTHING worse than having to grind over festive because you can't count
while we're here - not taking leave isn't some badge of honour, the company really doesn't give a fuck about you... if you die on the job they will light a cheap candle & send your family those shit bouquets from netflorist with a badly written card
take your leave
take your leave
5. Lock-ins, data privacy & IP rules
Before you start streaming FakeTaxi on the work laptop, it's worth noting everything you do is tracked & belongs to the company
Same applies with firing off that excel file to your Gmail account - stay sharp
Before you start streaming FakeTaxi on the work laptop, it's worth noting everything you do is tracked & belongs to the company
Same applies with firing off that excel file to your Gmail account - stay sharp
6. The dark side of training
BEFORE you sign up for the "free" MBA, worth looking at repayment provision clauses triggered upon exit - in short, paying back the company for money they spent on you
It's a tiny detail that can end up being VERY expensive
BEFORE you sign up for the "free" MBA, worth looking at repayment provision clauses triggered upon exit - in short, paying back the company for money they spent on you
It's a tiny detail that can end up being VERY expensive
7. Remote work policies
Find out upfront whether the expectation is for you to be on site all the time.
Don't believe the PR. No company will ever admit to loving facetime culture but unfortunately it often has a real impact on perceptions
Find out upfront whether the expectation is for you to be on site all the time.
Don't believe the PR. No company will ever admit to loving facetime culture but unfortunately it often has a real impact on perceptions
8. Performance Cycles & Bonus chats
If there's any mention of "discretionary" awards you can assume there's a bonus policy in place. More importantly is understanding your performance ratings scale so you can keep track of exactly what to expect.
If there's any mention of "discretionary" awards you can assume there's a bonus policy in place. More importantly is understanding your performance ratings scale so you can keep track of exactly what to expect.
9. Online reviews & actual employee chats
The company website is a bad place to decide on a job, plus it's often filled with lies. Go & speak to someone who works there or used to work there, read the online reviews.
The HR person can sell you dreams.
The company website is a bad place to decide on a job, plus it's often filled with lies. Go & speak to someone who works there or used to work there, read the online reviews.
The HR person can sell you dreams.
10. Get a legal professional to look at your contract
It will cost a few bucks BUT especially for smaller, less credible & startup companies could end up saving you a ton of racks down the line
unwinding a toxic contract is expensive, avoiding one is cheaper
It will cost a few bucks BUT especially for smaller, less credible & startup companies could end up saving you a ton of racks down the line
unwinding a toxic contract is expensive, avoiding one is cheaper
Finally, the job of HR is protect the firm first - not you
Any company that gives you an extremely short window to sign a contract, doesn't want to explain clauses or is reluctant to share additional info is a red flag
ALWAYS read the fine print
Any company that gives you an extremely short window to sign a contract, doesn't want to explain clauses or is reluctant to share additional info is a red flag
ALWAYS read the fine print
shout-out for making it to the end! feel free to post your bad job horror stories in the replies!
still one of my favourite "life in a corporate" threads
https://twitter.com/iamkoshiek/status/1297992252346765312?s=20
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