Two new opportunities
- Thread starter Invertigo
- Start date
I know where you're coming from but it could also be that option 1 is paying very much full whack for this type of role (given it's 70% more than current role and 36% more than Option 2). A 20% rise on top would mean getting paid 63% more than Option 2 and more than double his current role, it might not be that easy without genuinely progressing into a different type of role.
I agree with the general principle about climbing the salary ladder, it becomes a bit of a compounding prophecy where the more you earn the more credible you appear (rightly or wrongly) for future opportunities.
@HangTime yeah that might be the case, I guess it does depend on the role. It does sound like there is quite a lot of variance there though and option 2 doesn't sound like it's all that different.
I mean I guess in two years he might also be looking for some sort of progress/promotion etc.. too perhaps.
I mean I guess in two years he might also be looking for some sort of progress/promotion etc.. too perhaps.
So I accepted option 1, explained to them my situation and they're going to speak to the directors and see if there's anything that can be done regards a 'signing bonus' effectively to clear at least the additional I'd have to pay leaving before September. Positive news at least!
Nice one. Have you formally accepted it? Surely you get the sign-on bonus sorted before you accept it, especially if you have to pay back an existing bonus to your employer because you're leaving before September - that ought to be straight forwards enough to show evidence of etc..
Soldato
Great update!
Soldato
Great work 
And following the above, the MD has now approached me and asked what it'd take to keep me as they don't want to let me go if they can help it, apparently.
So I've gone back with a list above and beyond what I've been offered, as keeping me saves them both the salary cost of bringing in someone else but also the recruitment time and lost productivity while searching.
If they're willing to accept, then I'd stay, as it's still a huge step up over my current setup. I have however put factors like remote working and improved software suites as non-negotiables as they're elements that I consider crucial to fulfilling my potential and saving wasting time on unnecessary elements.
So I've gone back with a list above and beyond what I've been offered, as keeping me saves them both the salary cost of bringing in someone else but also the recruitment time and lost productivity while searching.
If they're willing to accept, then I'd stay, as it's still a huge step up over my current setup. I have however put factors like remote working and improved software suites as non-negotiables as they're elements that I consider crucial to fulfilling my potential and saving wasting time on unnecessary elements.
Don't do it. They're make you pay over the next few years in withholding incremental increases; make you work "extra hard" for it.
Considered that, one of the points in my request was a contractual minimum annual salary increase above inflation. Unlikely that any of the requests will be met but asking can't hurt.
Mindset was pitch high, if they say no then I say thank you and leave. If they accept the particularly high requests then we can see.
Soldato
So there is a stat somewhere that is something like x% of those who stay when counter offered, still leave within 12 months. The thing is, normally money is a factor, but it's also not the only thing. Comfort is what keeps you there, you know the place. But you equally have reasons you want to leave other than the money and more often or not these things wont simply change.
It's also unlikely they'd be able to meet the salary increase on the other job. If you're working in a team and your colleagues are on a similar salary, it's not going to go down well with your current employer if your colleagues find out you're being paid nearly double what they are.
I reckon accepting a counteroffer from your current employer is often not a good idea (especially if you've already verbally agreed to a new offer! Not sure if that's the case here?)
There are a couple of situations I could think of where it might be worthwhile:
1. You're quite happy with your current employer AND the issue is just pay (or other basic things that could be easily resolved with the counter like job title, working form home etc..) + you know they're not going to be emotive or vindictive about it more just pragmatic* - "OK, we weren't paying this guy enough" etc..
2. You're underpaid and want a boost and aren't fussed about the offer + confident you can get another... Doesn't matter then, take the counter offer then use your now higher pay/better title to get an even better offer elsewhere anyway - end result a much bigger/double boost to your pay/comp and without having to have jumped around as much on the CV.
(* i.e. it's common enough for it to occur in that company or industry etc.. and you're otherwise well liked)
There are a couple of situations I could think of where it might be worthwhile:
1. You're quite happy with your current employer AND the issue is just pay (or other basic things that could be easily resolved with the counter like job title, working form home etc..) + you know they're not going to be emotive or vindictive about it more just pragmatic* - "OK, we weren't paying this guy enough" etc..
2. You're underpaid and want a boost and aren't fussed about the offer + confident you can get another... Doesn't matter then, take the counter offer then use your now higher pay/better title to get an even better offer elsewhere anyway - end result a much bigger/double boost to your pay/comp and without having to have jumped around as much on the CV.
(* i.e. it's common enough for it to occur in that company or industry etc.. and you're otherwise well liked)
Soldato
"Statistics show that if you accept a counteroffer, the probability of voluntarily leaving in six months or being let go within one year is extremely high. National statistics indicate that 89% of people who accept counteroffers are gone in six months."
https://surfsearch.org/jobseeker-re...stics show that if you,are gone in six months.
https://surfsearch.org/jobseeker-re...stics show that if you,are gone in six months.
This is also a good tactic though!
It is, but OP has to consider what was making him move in the first place. Was he feeling underappreciated, not just monetarily? A lack of potential progression or more responsibility? Money is rarely the sole reason someone looks to move jobs, staying for more money rarely solves those other issues.
agree. You'll suffer from "what if" for the next few months if you stay put. I do believe, once you've made up your mind to move on, that's what you should do. Staying put, even if they offer to match your new employers, I would always be thinking - "why didn't they pay me this before I told them I was leaving"
Just double check your contract as well for any "restrictive covenants" - Working for a direct competitor, is normally covered by some kind of contract wording etc. Depends on the industry etc but worth checking that as well. (saying that restrictive covenants aren't really worth the paper they are written on most of the time - had plenty of threats in this area in the past and all came to nothing)