{ "media_type": "text", "post_content": "I just received an offer within the industry and I'm excited to join. That said, they have come in at the bottom of my range (I said $320k when I started talking with them in December, and upgraded that to $350k based on market movements since then)\n\nI'm particularly bothered by the clawback on my bonus payments until my LTIP kicks in.\n\nBelow I'm attaching my redacted offer letter and draft response. Looking for feedback on my response (whether reasonable, any improvements).\n\nThanks.", "post_id": "623ba2217c906500260696cc", "reply_count": 65, "vote_count": 27, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }
null

I just received an offer within the industry and I'm excited to join. That said, they have come in at the bottom of my range (I said $320k when I started talking with them in December, and upgraded that to $350k based on market movements since then)

I'm particularly bothered by the clawback on my bonus payments until my LTIP kicks in.

Below I'm attaching my redacted offer letter and draft response. Looking for feedback on my response (whether reasonable, any improvements).

Thanks.

like
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

That's a huge difference in pay from your asking. Probably not worth the letter and just a short call. Either they can afford you or keep looking.

like

I misread it. The bonus is the one that skips year one, not the LTI. I thought year one was base plus STI (266.5). My bad.

That’s a really strong offer, congrats OP! I came from industry and believe me, there are not a lot of companies that pay like this (even in this job market).

I agree with others that this is better handled in a conversation and you likely have a better shot at making up the difference in a signing bonus.

Another option would be to push for more generous LTIP if you think you are going to stick it out. Finance teams typically only budget annually and you may have more latitude to negotiate there since the hurdles for approval tend to be lower.

Best of luck!

likesmart

OP. Clawback aren't designed for one person or role. That's probably part of the executive compensation design. While getting a waiver is possible, it will require a lot of hoops. Like others have suggested, driving up base or sign on will be the easiest way to share the clawback risk with your Hiring Manager.

like
Recent IconRecent

I have a strict “I don’t give career advice to anyone making 3x my salary” rule because they obviously know more than me. Good luck though.

likefunnyhelpful

The things I would do for 300k TC 😫

likefunnyuplifting

300 isn’t much nowadays

funny

You guys are getting paid what now

likefunny

Congratulations on your offer to join []

Your official role will be Director []. You will earn an annualized salary of $205,000, payable semi-monthly and are eligible
to participate in the following programs:
• [] Short-Term Incentive Program (STI) at a payout target of 30% of your salary. The STI target will be effective for Fiscal Year 22 and will be pro-rated based on your date of hire.
• Additionally, you are eligible to participate in the Company’s Long-Term Incentive Program (LTI) at a payout target of 30% of your average salary for the three-year long-range plan. The first 3-year cycle for which you are eligible is FY22-FY24 which, pending achievement of corporate targets, is expected to be paid out in Fall 2024. Your first payment will be pro-rated based on your date of hire. Thereafter, you will be eligible to receive an annual payment
based on corporate results, without pro-ration.
You will also receive two bonus payments payable within the following timeline:
• $55,000 - At 1 Year of Service
• $55,000 - At 2 Years of Service
Should you voluntarily choose to leave [] within one year of the bonus payouts, you must reimburse [] for the payment.

likehelpfulfunny

Agree to not send this in email - have a conversation. My biggest critique is you saying “the retention bonus is structured incorrectly…”. It may not seem correct or what you want - but it may be their standard structure. You are implying they did something ignorant and wrong. Change the language. If you must send an email - do it only to get a conversation - so just put high level bullets on what you want to negotiate or restructure—- like say: I would like to discuss the structure of the Long Term Incentive Plan.

smart

Update: brought it up in the call, did not send email. Gave them a few options on how my concerns can be assuaged. They have chosen to remove the clawback language.

One of the reasons I have posted this and been transparent is for it to be helpful for others.

Thanks

likesmart

For context, I do think I had good negotiating leverage, apparently they interviewed over 100 people for the role and my experience was a good fit.

That said, asking politely and logically always helps and everyone's comments really helped structure my thoughts.

like

A one-year clawback is pretty standard from what I’ve seen/experienced. Is there something about the job that makes you think you’d leave prior to the one-year mark after each one?

likesmart

OP, that makes a little more sense (although the PMO portion might not be a bad gig for a short while IMO).

like

Thank you everyone for your responses and guidance. It's pretty clear that the email is a no go.

I think in my call tomorrow I will focus on getting the clawbacks removed - keeping the reasoning simple and focusing on how the large % in EOY comp is already a great motivator not to jump ship early. If not then try and find other ways to share the risk.

like

Personally, I’d be fine with the clawback. If you need to leave you can always have your next company pay it as a signing.

like

I am tempted to hire AP once I join and then take credit for all the work.

Not sure that will happen.

likefunny

How about the LTIP? Is that included in the $320k? I thought that is additional

$200 + 30% STIP + 30% LTIP + $55 =$375K?

Typically LTIP is earned every year but has a vesting period of 3 years

Maybe I misread your offer letter

like

Yes, kicks in after year 3 (based on last three years' performance) - the $55k per year is to tide me over until I get eligible for the LTIP.

Yeah, don’t send that email at all unless you’re not interested in working there. But sounds like you’re gonna do you anyway so good luck

funny

I read you will be eligible this year FY22 but vesting in FY24.

So I guess it depends on how you value that future payment.

Related Posts

Deloitte SM role in management consulting. What is the typical salary and bonus for an experienced hire?

like

~10+ YOE + grad degree working in engineering project management. Thinking about making a change, either to another large firm (AECOM, Arcadis, HDR, etc) or attempting to leverage PM / leadership skills into infrastructure group in consulting (Deloitte) or in-house position in tech (META, Microsoft). TC is primary driver. Looking for input on salaries/benefits/overall comp. Currently $115k + 10% annual bonus + 8% 401k contribution.

like

Would you still quit for a year & stay home with baby? Terrible mom guilt while WFH.

Family support both ways (quit/work). Mom/MIL watching baby all day. Financially able to quit (save less, not dip into savings) with no major change in lifestyle choices. Manager & work is reasonable with some WLB, support, flexibility. Salary is low for Bay Area, but decent.

If I quit, focus on baby, my fitness, PM course & interview prep for next job in 2023.
If I stay, focus on just work & baby.

like

Today I received letter if intent from American express with compensation details. I thought amex had a standard practice of giving joining bonus but in my compensation breakdown it’s not mentioned. Would it be mentioned separately in offer letter or what?

like

Does anyone have any advice on how to benchmark salary data for Support and Operations Staff in Professional Services? I'm not finding google very reliable based on the feedback I receive internally

like

Hey ladies,
I got a great offer with a 25% base salary raise. It’s a tech start up and I do believe this product has great potential. Looking at Glassdoor it does have a lot of bad ratings about toxic environment, work on weekends and no work life balance. Total rating is 3.9. I currently work at Deloitte and an really tired of this place. I stagnated and I am desperate to leave. Would you take this opportunity or would you wait for the next one?

like

What's a normal senior 1 tax salary in philly?

like

Expecting an imminent FS consulting SM offer from Deloitte, should I expect a sign on bonus and what % is typical?

like

Average salary for EY - Manager Federal Tech R. DC metro area? 5 years of experience.

Deloitte peeps, is there a difference in percentage bonus amount for managers vs SC?Iam negotiating an offer currently and the HR says that managers get a bonus ranging between0-24%?

Going for interviews around BerlinTech, but coming from Asia so coming in rather blind. Any idea what comp I should expect?

Have 7 YoE, 5 of which was in consulting, 2 in listed-tech.

like

feeling uninspired and unfulfilled — thinking about going back to agency because I’m bored and not feeling challenged. am I an idiot for even considering leaving equity + bonus? is the grass always greener?

like

Does anyone know what the salary range for a Senior Producer at a large holding co. in London would be? TY!

like

I am Developer with yoe 2.4 yrs in web technologies like Angular , ReactJs , Gatsby , graphql , html , css , typescript , i wanted to switch for salary hike. Please can anyone share how should i prepare for some known companies like IBM , capgemini , nagarro , amdocs , publicis sapient , sap etc.

like

What’s considered a good copy supervisor salary?

I'm having 6 years of experience 4 into soc and 2 on cloud security..how much salary i can expect based on current demand of cloud security.

I'm having skill set in the below area

Cspm, azure security, soc

What are the salary bands for second and third year consultant level in London at the moment?

like

Really enjoy consulting, but might be getting an offer to go back into industry. Offer might be for 50%+ raise, but the annual raise and bonus won’t compare to consulting. Anyone face similar dilemma?

like

Monthly In hand salary pls..

Post Photo
like

Additional Posts

Does anyone else struggle with connecting their AirPods to their PC? Any tips?

like

Looking to buy a Rolex. I am in Brazil for work and went to a local AD to find that it’s more expensive than in the US. I thought (my fault I guess) that it would be cheaper to buy it outside the US?

I’m considering a role at Cisco and was wondering if anyone knows whether you have to be employed there a certain amount of time before being eligible for maternity leave. Thank you!

like

Tips on negotiating an offer at BCG Platinion?

like

Regeneron aims to have coronavirus drug ready for human testing by early summer

like

Deloitte SM role in management consulting. What is the typical salary and bonus for an experienced hire?

like

Anyone on here play daily fantasy sports? Have any luck with winnings?

like

Any suggestions for a birthday gift for the bf who is also in Investment Banking? Looking around the $1k mark.

like

Am I too old to be considering a full time MBA? 27 with 5.5 years of work experience. Recently got promoted to manager at ACN. I want to pivot into tech/fintech specifically but I’m not sure the opportunity cost is worth it. (Or if there are other, cheaper options.) I believe at this point I’d have to be looking at matriculation in fall 2023, by which point I’ll be 7 years out of undergrad.

like

Anybody selling Delta GPU lol

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

For account settings, visit Fishbowl on Desktop Browser or

General

Legal