3 questions to evaluate a job offer from Tan France
- Before Tan France joined the cast of “Queer Eye,” he was an entrepreneur who owned three businesses.
- The first question he asks is “How much money will I get now?” Next, if there are stock options.
- You can ask the same questions when evaluating a job offer.
- Read more stories from Personal Finance Insider.
Prior to joining the cast of “Queer Eye,” Tan France owned three successful fashion businesses.
In her “Naturally Tan” audiobook, France says running multiple businesses had a major impact on her mental health. France was planning to retire early, sell her businesses and start a family with her husband just months before she got the call to audition for “Queer Eye.”
France now owns shares in six different companies, which he tells Insider “really isn’t much compared to other people in entertainment.” Equity is fractional ownership in a business, usually through stock, stock options, or other contractual arrangements.
France has partnered with financial education platform Carta to promote a free course called Equity 101 that teaches employees how to get the most out of stock options offered with their benefits package. “Fairness gives you more power,” France told Insider. “It’s more than a one-time fee or a paycheck.”
Here are three fundamental questions that France asks during trade negotiations, which you can add to your list of questions that help you evaluate a job offer.
1. How much money will I receive now?
France says her first question is usually, “How much am I getting paid for this deal in real money, cash, right now?” France wants to know if it is worth taking its time and energy to accept this agreement now before thinking about the long-term benefits.
This question can help you overcome glamorous promises of future promotions and company growth, and focus instead on whether this job can meet your current needs.
2. Are stock options available?
In business, France always asks what her stock options are in addition to the starting salary. He asks: “What could this opportunity look like financially in five years or in 10 years?
Employee share ownership plans (ESPP) are often little-known social benefits that France strongly encourages to take advantage of. ESPP programs allow employees to purchase stock options at a discount, usually 5% to 10% below market value, from their employer.
Stock options are not the same as stocks. Stock options are contracts that guarantee a purchase price and amount of stock between two parties. For example, a Tesla employee may have stock options to buy up to 500 shares of Tesla at $900 instead of the price of $1,085 (at the time of this writing).
An employee can exercise their stock options while working for Tesla or during a specific grace period upon termination of employment. Even a few years from now, if the Tesla stock price skyrockets, the employee will still be able to buy stock at the same $900 price.
3. How many people like what this company does?
Finally, France says he only works with companies that people generally like. He asks, “Do I like the product or the service? Do I like this company? I’m not looking for niche products that could make money, I’m looking for something that seems to appeal to the majority.”
In Hollywood, artists can swoon at the next big idea, but France prefers to look at the hard numbers of how many people actually support what the company does.
Along the same lines, people evaluating a new opportunity can reach out to current and former employees, or read Glassdoor reviews, to get an idea.