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Issa no for me
Pro
Can you agree on a delayed increase? If the company has the practice of promoting people with no increase, it might be hard to fight the system. But I’m sure many use a back door of “trial period” - 3 months in a new role and if it works out +25%
Also, since it a Pre-IPO stage ask for equity immediately
Pro
What were their arguments?
If I were you I would’ve done market comp of that née job. Salary.com is valid enough.
And then I would’ve come and say:
Look, here is a market, and this is how much it’s gonna cost you to hire someone from the outside, it’ll take you about 2 months to hire that talent, add up ramp time and you’ll have this position up and operating in September 2021 and it’s gonna cost you X. Let’s say the market is 200k, so 50K will be spent on pure bringing up to speed that person.
While here I am with my 150K comp and all I want is just to be competitive. If I take the job, I’ll start working tomorrow, and you do not need to spend a dime to bring me up to speed and build trustworthy relationship.
Mid-market for this job is 200K, I’m happy to take part of it as equity, and I trust you to make decision of what proportion between cash and equity is fair.
Why would there be no pay change???
Exactly....
More responsibility and less pay = they don’t value your worth. I’d get a counter offer somewhere else and see if they care enough to keep you around
I don't have time to get a counter offer right now so my next strategy is to take the role, set a 3 month timeline to revisit the comp conversation, and look for a new job and secure offers by the end of the 3 months. and if they still wont give me a raise then I know its time to go.
Pro
Who cares about titles, it’s all about the money.
More responsibility = More money
More oversight = More money
Being essential to a company = More money
Don’t under sell your talent, he clearly thinks very highly of you!!
Side note: Your role translates into a senior manager role so just reflect that on your resume.
Red flag! No room for negotiations but willing to ask you to do the job for free.
You need to push back on this. Put together a case for a new title and a raise.
Don’t take it. I’m sure he genuinely trusts you and if that’s the case he can title you and pay you appropriately.
Negotiate hard for what you want. It's unreasonable for them to expect you to take this new role without contract or conditions updates. Its a red flag for sure. At the very least, if moving towards IPO, you should get a hefty options package. Must be signed or it didn't happen. If they need this they will give you what you ask.
My company is one of those that likes to have people doing the job before they reward you with a title or raise. I am in third round of conversations with my boss about this. I've asked for a promotion in title and/or raise due to the increased responsibility and he said he can't promise either of these things to me and we cant agree on a timeline because the scope of my role is undefined and there are a lot of unknowns as this a new role, no one has done this before. They want to see me in the role first but I've already been doing this role 25% of the time already. I don't want to be taken advantage of. More context, I've historically taken on new roles, more responsibility over my 3 years at my company, without asking for a raise or promotion. I already managing a global team and then I took on my bosses job last year in 2020 so I felt it was only fair to finally ask for a raise/promotion but was denied due to budget/expense concerns. Now, this opportunity comes up in 2021. I don't buy the fact that they can't pay me anymore because the company became profitable in 2020 and we hit over $1 BILLION in total revenue for a 2000 person company. I'm starting to see that maybe I should take the role but look for new opportunities because the company clearly does not value my contributions.
Hmmm? Is there any benefit? Did they make announcement to let everyone know of your larger role and responsibilities? I saw this situation once and the employee that took more of a leadership role was resented by the team because they thought he was overstepping his level of authority.
i actually have a backfill for my role. =) i proactively hired someone this year with the potential to take over my role should any sudden changes in mgt occur
It sounds like you're worried about future reputation by saying no but if you have to take the new responsibility you'll look for a new role outside the company anyway. its loose loose all round for you in both situations and for the company by potentially loosing a good employee. Be open about how you feel about not being valued and maybe it'll prompt them to do the right thing. If they are close to ipo ask for more stock if budget is an issue. I don't see any reason for not changing your title in line with your responsibility, ask them for their justification here. Sounds like you have nothing to loose by being upfront and pushing for what you deserve.
No. There should be an equal benefit for both employer and employee.