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Newbie to investing and never invested in a company that went through a reverse stock split.
In theory, I understand the market value should increase but I’m not seeing this reflected in the price and naturally my book value/ share is very disappointing.
A) When should I anticipate the stock appreciation to occur?
B) What’s the next move for companies that do this? Issue more shares?
TIA!
https://finance.yahoo.com/news/retransmission-hive-blockchain-announces-5-100000300.html
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Leave (as long as you are confident that the new firm is a better fit for you). Personally, good culture > $10k.
Imagine you were already at Firm 2, you were generally happy, and Firm 1 came to you with the following offer: “We’ll pay you ~$500 more per month in post-tax take-home, but our culture sucks.” You would laugh in Firm 1’s face and stay at Firm 2, right?
Act accordingly.
It is clear that Firm 2 has a retention issue. Probably need more associates to bill because the partners bill rates are too high and cutting into their profits. Run away!
Accepting a counteroffer rarely works long-term. The bump in pay will lose its appeal or newness in a few months, and then I suspect that you will be resuming your job hunt. Your firm will unlikely make, to your satisfaction, dramatic changes to its culture -- paying you an increase in salary, in your firm's mind, is buying the right to keep the status quo. Also, depending on your firm's compensation structure and number of attorneys, your peers will eventually find out about your pay bump, and you might find yourself with a target on your back. Graciously decline the counteroffer, keep all bridges intact, and get psyched about your new firm.
Definitely leave. If there were issues with culture those aren’t worth $10k.
Leave. Most of the time when our candidates take counter offers, they are back in the market within a year.
Think hard about why they are countering. Is it too little too late? If you have to work that hard to get equality, what happens next time you have an issue that is not met? Compare to the new offer, though it may be too early to tell...is the environment likely a plus? Only you can make this call.
Look up the rate of employees who leave after initially deciding to stay. I want to say that it's close to 80 percent leave within 6 months.
Management styles and the firm's willingness to compensate are things that rarely change. They offered you $10k - when they could've probably made that work last month? But you weren't valuable enough to them until you were out the door. For me, that's all I need to know.
My guess is if you're having culture problems that will quickly rear it's head right back up the moment the honeymoon phase of you sticking around dissipates.
I agree with Associate 3. Before law school I was a recruiter in the defense contracting industry. Nearly everyone who accepts a counteroffer and stays leaves within 6 months. The issues you see in your current position typically don’t go away with a pay increase.
That’s about $833 monthly before taxes, maybe $625 take home — ballparking here.
If your boss phrased it “I’m not going to change but I’m going to give you an extra $625 per month payment, and you can’t complain about it anymore I’m exonerated,” would you still take it?
That’s maybe $145 per week more making some tax assumptions if you break it down further.
$10,000 feels big before you break it down like this. If it were me, $145 real working money per week to accept bad culture and inequality is not worth it.
Statistically; anyone who resigns and is countered with more money (rather than different job, addressing whatever was the fundamental reason for resignation) will leave again within a year.
10k on an annual base given the hours you likely work does not seem likely to be meaningful enough absent your underlying issues being solved.
I would go to your new firm and say that your old form has countered you, that you want to move to them, but you’re wondering if there’s any room to increase the salary. Don’t say “I need more money” but rather “I’m super excited about this opportunity but I’ve been countered and it’s a cash forward position and I’d love to feel even greater about my decision to move, I’m wondering if there’s any room to help bridge the cash deficit either through an increased base, sign on bonus, or increased bonus target?” If they say no they say no, but they should respect that you asked.
Leave.
1. You will be first on the list when your current firm is looking to cut costs because you are now considered “overpaid”.
2. They need you right now for whatever project, case, deal,... you’re working on. They discovered a potential liability and will start looking for a replacement. Don’t stay and become redundant.
Absolutely leave. As others have said, accepting the counter likely will just extend your tenure at your current firm for a short while — either you’ll wind up getting fired or you’ll ultimately quit to go elsewhere.
Leave. Your happiness is what matters. It will show in your work eventually. Clearly you’re well thought of. You must be pretty good at what you do.
If you think about it, being valued gives you leverage in the negotiation. I negotiate most of my contracts that way because my client makes great products that are in demand.
Leave
If you stay, that $10k will be held against you. You won’t see a performance raise for years. And they will squeeze you hard because you made them open their checkbook to keep you. Been there, done that, have the T-shirt.