Everyone gets excited by a job offer. It is the culmination of an industrious job search. At last you will be moving on . . . hopefully to something more interesting, challenging and lucrative.

A job offer is a vote of confidence in your ability to do a good job. And it says a lot about your skill in developing a rapport and chemistry with your next boss.

But the job search process is not over!

How you close the deal by successfully negotiating a compensation package can make or break the job offer on the table. Do it right and you lock up your new job and position yourself for the future. Do it wrong and you can lose the offer.

The solution is to do your homework. Here are 5 tips:

1. Research your pay level. Find out how it stacks up to similar jobs in other similar organizations.

2. Do not bank on future promises. If part of your deal is some future compensation, promotion or benefit, get it in writing!

3. If possible get hold of the organization's info packet. Often compensation, benefits packages and other expectations are spelled out there.

4. Get your new boss or the HR rep to spell out the organization's expectations of their employees in general and of this job in particular.

5. Remember you are in the strongest bargaining position before you accept the job. That is when your negotiating must be done.

Most managers expect you to negotiate. Do not passively accept whatever is put on the table. Be prepared to discuss your concerns about the offer, e.g. level of compensation, benefits package, future growth, reporting relationships, etc.

In short, wrap up your job search with a bang!