I have a good job at a very reputable firm and was not looking to make a move at all....
then...
My old boss contacts me about coming to work with him at a smaller M&A focused investment bank and offers me a significant increase in salary...
I am not sure what to do!!! In my current job I have:
Good 401K with a good matching plan Comfortable job with a good salary Job security Good Benefits Name recognition (The Firm's) A good reputation at my Co.
But the new Job offers:
A great opportunity for a pretty big promo. and a significant raise...but: Decent Benefits Basic 401K Newer Firm with very little name recognition Longer hours
I don't know how to weigh the pro's and con's here.... I don't want to stay at my current job just to be 'comfortable'....I want to take the risk....But I am scared, quite honestly of losing the security that I have....
Opinions? Anyone ever have to make a similar decision??
september2004
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Re: New Job??? Take it or not!!!
resume builder + $$$$ = jump
always ask the questions 'how will this affect me long term?' and 'will this move make me add more value to a company down the road?'
if you leave on good terms at your existing company, get more experience at the new place, you can always leave the door open to go back.
my FH just went through this and is very happy with his decision. i was a little apprehensive at first, but i am glad he took the risk. quite honestly, it could have gone either way (at least you have the benefit of 'knowing' what you would be getting yourself into boss-wise). he still keeps in touch with the old crew, and as long as he works hard, expands his portfolio, and keep the network in tact, who knows what the future will bring...
good luck with your decision!
NYCMeghan
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Re: New Job??? Take it or not!!!
if you like where you are see if they would make a counter offer - that way you can have it all
september2004
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Posted by NYCMeghan
if you like where you are see if they would make a counter offer - that way you can have it all
the 'unwritten rule' - counter offers are good only for 6 months... once a company knows you want to leave, they will start looking for your replacement.
this practice 'works' only at VERY HIGH levels, it is considered a power play and is generally frowned upon. you need to have a lot of power and support to pull this off...
iv'e seen it happen over and over...
Sage10.03
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Re: New Job??? Take it or not!!!
Posted by september2004
Posted by NYCMeghan
if you like where you are see if they would make a counter offer - that way you can have it all
the 'unwritten rule' - counter offers are good only for 6 months... once a company knows you want to leave, they will start looking for your replacement.
this practice 'works' only at VERY HIGH levels, it is considered a power play and is generally frowned upon. you need to have a lot of power and support to pull this off...
iv'e seen it happen over and over...
I agree...and I know that in my current position I am at a very high salary range for what the position generally offers...so this would play would not work to my advantage, unfortunately.
Spet.2004 - Thank you for the advice....I am still strongly considering it.... And yes, taking this new position would definitely make me more attractive to other companies down the line.
luvsun27
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Re: New Job??? Take it or not!!!
Posted by september2004
Posted by NYCMeghan
if you like where you are see if they would make a counter offer - that way you can have it all
the 'unwritten rule' - counter offers are good only for 6 months... once a company knows you want to leave, they will start looking for your replacement.
this practice 'works' only at VERY HIGH levels, it is considered a power play and is generally frowned upon. you need to have a lot of power and support to pull this off...
iv'e seen it happen over and over...
I disagree...but only from my own experience. Don't go, only for $$$$, but if you think you can have an opportunity to make a name for yourself at the new company...and it could lead to bigger and better things...than I say go for it.
I had an experience where I was not happy at my job...so I accepted a new one (the $$$$ was only about 10K more). When I gave my notice to my boss...I was called by the president of the company to discuss why I was leaving. I told them I was bored and unhappy and I didn't see myself growing in the company. They offered me my boss's job...and even more $$$ (about 20K more than what I was making). They said that they were not happy with his performance and they were going to replace him very soon anyway...if I decided to stay...they would just do it now. After a lot of talking and thinking...I decided to stay at the job, for some of the reasons you mentioned. I was well respected in the company...I didn't want to be a job-hopper, the benefits were good. So, on a Thursday (don't remember the exact date), I said I would stay with my current company and called to decline the other job. The very next day...a Friday...I recieved a phone call from someone else, offering me another job! I told her that I was very flattered, but I just accepted a new position yesterday, and I could not go back on my word. I said I would keep in touch.
The following year (almost exactly 1 year later), I called this woman...and said, I don't like this promotion and company as much as I thought I would...do you still want me. She said that for the next fiscal year, she would love to have me on board, when she could afford a new salary in the budget. So...anyway, I wound up leaving this company and making even more money at this current job.
Anyway...the moral of this story is...you never know what is going to come along and you have to do what feels right at the time. If you stay at your current company...you might feel like you missed the boat on something great. I don't know if that helped you at all....sorry it was so long
allure
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Re: New Job??? Take it or not!!!
Good Luck in your decision
steph4777
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Re: New Job??? Take it or not!!!
The ladies all gave you really good advice and somethings to think about.
When FH and I went through marriage counseling, the pastor asked us to talk about the 'quality of life' we desired. He said since we are both pursuing higher degrees ( MBA - me and JD-him), we needed to consider how our careers will affect our relationship and future family.
So although the jump in salary sounds good bc you and DH are looking for a house, think about how the stress of working for a boutique firm will affect your quality of life. What is the maternity leave policy if and when you and DH decide to have kids? Does the new firm offer work-life balance programs? Think about what you want your quality of life to be in 1, 3 and 5 years.
Good Luck!
Maribelle7777
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Re: New Job??? Take it or not!!!
Do you feel that with the economy the way it's going (merger - wise) that the new firm will survive or not? That is one thing I may consider if I was faced with the decision. I hope that makes sense.
Other than that, if this was me I would stay, only because I value job security and money security (ie: 401K plan) and would put emphasis on that. Plus..is a family in the future for you? The hours maybe stressful if you choose to move.
But if you feel that those things will not affect you as much as I would feel, maybe it can be a good move.
I'm sorry - I'm not being much help!
Eitehr way I'm sure the decison you make will be the best one for you! Good luck!
Sage10.03
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Re: New Job??? Take it or not!!!
Thank you ladies all for you thoughtful responses....My head is literally spinning from all the great points you made!
Wish me luck in making this decision!
september2004
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Re: New Job??? Take it or not!!!
Posted by Sage10.03
Thank you ladies all for you thoughtful responses....My head is literally spinning from all the great points you made!
Wish me luck in making this decision!
bottom line is that one can never predict the future and every situation is unique. do what is best for you and your family. weigh the pros and cons and whatever your choice, don't have any regrets!