Congratulations! You made it! After countless days, weeks or months, interviews and tests, you’ve finally got your graduate job offer. Now what? Before you sign, be sure to check these details in your contract.
Before entering into a contract of employment and accepting your first position, you should seek clarification on the following:
Before signing your first contract read it carefully, making sure that you don’t sign anything you don’t understand. There’s no need to feel pressured into signing a contract on the spot. Tell your potential employer that you want to take the contract home to review it. If you don’t agree with a certain clause in a contract, you can rule a line through the provision that you don’t agree with and place your initials in the margin.
Salaries will vary substantially between large and small organisations and between specialisations. More generous salaries are likely to be associated with larger firms or certain specialisations. For example, those working in investment banking may be required to work long hours. As a result, they can generally demand higher salaries as compensation.
As a general rule, you are entitled to a minimum of 9.5 per cent superannuation paid into a fund of your choice. However, if you are employed as an independent contractor or on a contract for services you will not be automatically entitled to superannuation.
If you have previous superannuation policies but are unsure of the name or policy number, contact the Australian Taxation Office Superannuation Line on 131 020.
If you have had previous casual and part-time positions, it is likely that you have several superannuation funds.
To consolidate your accounts, obtain and complete a rollover form from your current superannuation fund of choice. Rolling over your superannuation will:
Congratulations! What an achievement… don’t forget to celebrate!