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After doing the math, you'll only make $4900 more if you went to the new company.
Is that worth leaving your current role?
I like being an individual contributor because it's less stressful for me.
But if you want to stay in management and grow within a company it would be a good idea to stay with your current company.
Good luck 🍀
I’d be really diving into the why you looked to leave your current role, does this new offer change anything? Are there other details that you might be discounting but contributed to wanting to leave?
Pro
I just noticed that I accidentally deleted text before I posted.
I was trying to say…. My daughter daughter is 25-years old now. When she was 10 years old, I took a job for more money. I worked 60 to 80 weeks. I had little energy to read bedtime stories and play with her. I quit after a year. Take the job which will generate the least amount of stress.
A bonus is not guaranteed. How long have you been with the current company? I'm thinking it's time to jump, especially if the new company is a good name for the resume.
I’m always shocked when people don’t remember 08. Even though I was young-ish (fairly fresh out of college). But man- no one got anything. For years.
strictly answering this from a financial/compensation standpoint, so if you have other bigger priorities please disregard my advice.
first, i hate bonus structures because they’re not guaranteed — they are just and should be treated as that: a bonus. aka wonderful to get it but you’d still feel happy and fairly compensated without.
i’d ask current employer to counter the base and keep the 15% bonus. is there room for a promotion in title too? even if they object to both, i don’t think $5k is worth leaving an employer at your pay, especially as all signs point we’re going into a recession.
on the same token, staying with your current employer doesn’t stop you from looking for something even better… but jumping to a new employer may make you have to hang around for a while for the purposes of not having a role/employer listed with only a 6 month stay.
tldr: negotiate with your current employer and stay, but keep looking.
Never take the counter. If they are willing to give it to you to get you to stay, they knew you were worth it before and chose not to give it to you. Besides the fact that In most cases, it’s not just the money that compels someone to leave a job. Will those other things also be fixed? It’s always better to move forward then to let yourself be held back.
4000-5000 is not that big hike to switch. Look for reasons why you decided to change. Check medical insurance etc things and decide.
Make the jump, here is why
New job is a support role paying more, but that sets a new company floor from which you layer and build on.
In your current role your probably at the cap the comp ay is looking to pay..
Make the jump set a new floor and work into mgmt
Take both offers if they offer remote options .
Look at the whole picture! Total compensation + 401k + vacation and holiday plan + health benefits + other benefits…
Once you give notice you should leave, if you don’t they will give you more, find your replacement, let you go and you’ve missed the new opportunity. I
I won’t change jobs for less than 20% increase unless the current job was insufferable
Switch to the new company!
Is the new company a better company? Better benefits?
Growth and learning experiences from new and different far outweigh the money. Take the leap and look again in 2-3 years to grow into the next opportunity.
Bonus is not guaranteed. Sounds like all factors are the same. Take the new job offer.
took your “sounds like all factors are the same” to include salary.
i understand 10k is 10k, but i typically don’t consider a 10% raise is enough to warrant a move… i’d assume OP wouldn’t be getting a raise at the new employer quickly so i thought it might be more strategic to stay at current employer with the countered salary and keep looking for an even better opportunity.
There doesn’t seem to be a compelling argument either way financially since there isn’t much difference. If you were looking in the first place, enough to go through an entire interview process, seems like the writing is on the wall. I was in a similar situation a few months ago and took the new role that was slightly less money because the damage was done at my current employer as much as there were aspects about it that made me want to stay. It’s always hard to leave comfort but my vote is to take the new job since you clearly were looking for a reason. And whatever they promise to keep you, it’s an organization just trying to keep you and if nothing is in writing don’t trust a word they say. Corps are loyal to the business first, not their employees.
How long were you at your job before leaving for the new role? I’m currently in a similar situation being offered a role which would pay me around 20% less than my current salary, but the role seems less stressful. I am a bit nervous to switch especially with the economy being in its current state.
You gonna have to get a competing offer every time you want a raise at your current company?
100% will choose guaranteed money over offer for incentive - a lot of variables can impact how that does or does not pay out
In my experience, more time managing others means less time to close deals and earn commission myself. Are you getting commission for your team too?
Is there an advantage to one over the other regarding upward mobility or future opportunity? Which company outlook is better in 2-5 years?
Thank you to everyone who provided their inputs that helped me with my decision.