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Do any of you all own TIP?
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Hi Fishes, Pls help,
YOE: 13 yrs
Cctc: 13 lpa
Have cleared HCL interview. Initially they offered 23 lpa (via proposed offer letter), but i requested to reconsider it for 25 lpa.
After 5 days, they sent final offer letter of 19 lpa (stating they can offer max 50% as per L4 approval).
Queries:
1. Is this normal or rare case, reducing the offer amount from what quoted initially?
2. Should I accept or negotiate?
I don't have any other offer as of now.
HCL Technologies
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Most likely you lose it. The 401(k) matching is at the discretion of the holding company, and IPG vests on the first paycheck after your three year anniversary. In your situation, the best bet is to hang on for the vesting, or tell your new employer exactly what you will lose by joining before the three year mark and let them match it. Side note: tax free retirements accounts and employee matching are the closest thing out there to free money.
Chief
I told a new company I was losing $30k award from old company and they agreed to match a contribution. This was 7 years ago though and involved two of the big holding co’s.
Rising Star
There's always room for negotiation but it's really about how much they like you. They need to be willing to put in the energy to convince others in charge of your paycheck to let you keep it.
My husband did. He was very close to being fully vested. If he would’ve given 2 weeks, he would’ve left in the middle of a huge project screwing over the rest of the team, so he agreed to stay on for a month and negotiated something related to his 401k vesting schedule. To actually make it work, you have to not only be that important to the business but your new employer also has to be willing to wait around for you to start.
Imo, you lose it. But you can make it up by asking for a signing bonus... or asking for immediate matching instead of after working for a few years
I believe the time accumulates, so if you ever go back to an IPG shop you pick up where you left off. Not sure if leaving the money there means if you go back their match will still be there?
Oh, in terms of the $ - ya that’s gone. But the benefit is that you might only have to wait a few months (when at the next IPG agency) to qualify for vesting.
If you move from one IPG agency to another you keep your tenure-related benefits.
Are you talking about IPG mediabrands??
Doubtful. I was 1 month shy of an additional year anniversary and IPG did not pay severance for the 11/12 months I worked. Assume you will get policy only, especially if you are departing. Negotiate new job to pay you it as a signing bonus?