I was offered a position at a rival company for more pay. Does company loyalty matter anymore?

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I once stayed in a job because I felt loyalty to my boss and to the company. The next year my boss retired. The year after that I was laid off. Companies (and bosses) do what is in their best interest, you shouldn't feel guilty for doing the same.

If you like your current boss and company, consider asking if they will counter the offer. (You should check first that you don't have a noncompete agreement.) If the answer is no, then you can give notice with the knowledge that the other company values you more.

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I stayed in a group because I really liked my team. I wanted to do a different kind of work and explore other opportunities but felt loyal to the team. So, I stayed instead of going for an opportunity I was qualified for and excited about. Within 6 months of forgoing that opportunity, my whole team had disbanded. The others had either left the company or transferred groups. I was the only one left.

I learned that I should never pass up what I want to do out of a sense of loyalty to another group. Ultimately, I need to do what is best for my career and interests.

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no company loyalty doesn't matter anymore because current company is not going to keep compensating you to keep up with market value of your salary unless you are being promoted every year with a substantial jump in salary. most of the time it's a minuscule raise of 2-3% basically to not even keep up with inflation. if you want a raise you have to leave. obviously don't burn bridges.

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Exactly. And unfortunately, inflation rates were higher this year than most so if you didn’t get a 5% raise this year you make less now.

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Nope.

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No. You're not building loyalty. You're selling two things:

1) you're selling a set of skills that wax and wane and change over time with market need. There's a certain value on this, and it changes over time. New and novel skills have a premium that diminishes overtime.
2) you're selling your time, which is consistent, immutable, and irreplaceable. You don't get that time you're selling back, which is why you should always focus on it being a premium necessity you are selling.

The more employees view their careers this way, the better the labor market will be for workers.

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I personally dont like to burn bridges. The industry is not that big and chances are, you’ll bump into former bosses or colleagues.

But if the offer is at least 50% more than what you’re currently making, no one will question you. If it’s 100% more, your boss might even join you in that other company 😁

If it’s just like 10% increase, people might question you. Not because you dont have loyalty, but of how cheap your “loyalty” is.

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10% is “measly” because it’s something you can achieve without changing jobs (at least for most companies). 10% might be out of bracket for an increase but would definitely be within bracket for most promotions. Also, 10% is definitely within the range of a counter offer if your current employer do choose to counter.

+18k sounds big. Only until you realize others are giving out +90k. You might need to stepup your game, but it’s out there.

Imho, it’s hard to jump every year. Makes your CV look bad and might prevent future opportunities. So if you’re thinking, “im jumping this year”, you better make sure it’s worth it.

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A simple test. Look at the company, does it bring in new hires at your level but pay them more to hire them? If they do, then the company doesn't have loyalty to you.

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Doesn't matter much anymore, may not want to switch jobs every 3 months but employer loyalty is a thing of the past

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No. But check your offer letter about any non-compete clauses.

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This. If you find you DO have a non-compete, it’s worth running the noncompete terms by a lawyer. Noncompetes are often unenforceable.

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Do what's best for you, but always be cordial and professional when exiting. Employers understand it's a highly competitive landscape...you could even approach management and let them know you got the offer, and would like them to match. Might be suprised what they're willing to do to keep you

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Nope. You are just a disposable cog in the wheel, so do what is best for you.

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Lol no. Take the money and run! And check for non competes and fight them with a lawyer as stated above if you have one.

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Loyalty has to go both ways for it to work. Unfortunately, that's almost never the case. I learned the hard way. 16 years at a company and at the first sign of trouble, senior leaders cut immediately since they were highest cost.

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What is that? ;)

funny

Take it and run. Loyalty doesn’t matter. If it’s a competitive industry they’ll probably come back to you in a few years with a better offer to be a boomerang employee if you didn’t burn bridges.

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It's not always about the money.

If it was money, everyone will go into the drug trade or something legal.

Remember you have personal values to align with, it could be time freedom, financial freedom, creative outlet, responsibility and more. If you see a better match else where for you, then it's better to leave.

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Companies comp market rate salaries for talent that’s actually.. in the market. Unless you move to another company you’re not actually in the market, so your current company will ignore you in due time. The average time it takes an employee to receive a promotion at work is 3 years, while the average time it takes to receive the same via a job hop is more like 1-2. Stay if your current company is growing ultra fast and you get RSUs.

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No it doesn’t matter. Take the offer that makes sense for you re your career goals

Yes Loyalty goes both ways.. I think unless there is a BENEFIT for it.. it doesn’t make any sense to follow it as a principle. Companies should have Loyalty Benefit specifically mentioned .. like number of years worked. Rival company? No company is your friend or rival.

No

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