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90% of the time I tell people to never look at a counter.
This might be the 10%
I usually say the same thing. Which is what is making this decision so hard.
I’d go with the new company. In most cases once your employer knows you are looking; they will be finding ways to replace you and get rid of you.
Not sure I agree. It makes little sense to counter with more base, equity in the firm, and a promotion only to look to replace someone.
Ask them to up the equity 45-60k over 3yrs. And make sure if they terminate you, you get fully vested. That way it's a win win on both sides.
Here's what I do: flip a coin and then listen to your gut reaction on whether you agree with the outcome. Easy. Congrats on the offer!
Sounds like my kind of plan
Honestly stick with the smaller employer. Moving to a large from means you start over and have to make all the impressions again. The current firm is offering more plus already knows you!!
But it depends what you want to do. Similarly I am in security strategy/architecture at a large form and fed up with it so trying to move smaller where it's more about doing than the bullshit you face in a large firm.
On another note - I could fill your spot if they wanna sponsor a Canadian hahaha. But beat of luck to you!
Current company (cyber boutique)’s counter
-$130K base
-25K options vested over 3 years
-promotion to manager essentially overseeing pre-sales and sales engineering
-fully remote position (only occasional travel to client site for sales support)
-bonus plan not competitive with market for an SE (I plan to counter with a more competitive plan that pays bonuses per deal closed. As I exceed quota the rate increases)
-poor benefits (astronomically high healthcare premiums, no parental leave program or policy, no 401K match)
-history of poor leadership and failed promises in the company
-huge opportunity for firm growth with current channel partners. I think the company is sold / acquired in the next 3 years. This is where having equity could pay off.
Small place is always better IMO. Stick around for another 2 years, get the manager title and look around. No sense in making a lateral switch.
Counter offers are generally looked down in the industry. No one cares about that in consulting
When does the current employer’s new package take effect? Sounds like a better offer but it would be worth nothing if they take another year or two to make it effective because of “operational overheads”
That’s a good question. I’m going to insist everything take effect the day I was supposed to start at the new company. Only thing I may negotiate on is the new bonus plan being effective Q1 2021. But the new base and the option vesting period must start immediately or else it’s not a true competitive offer.
Between poor leadership, failed promises, and high healthcare costs, I'd leave and never look back.
Pretty much. It’s coming down to if the flexibility in work schedule, more financial compensation, and the possibility of making a very sizable amount of money via equity is worth dealing with incompetence and broken promises.
Bonus plans aren’t enforceable. If you already accepted the other job, you may end up on their blacklist for a few years — can’t go back and change your mind
I agree. Under this assumption I don’t plan on applying at the new company in the future because I would be backing out of this offer so late. The bonus plan will be in writing and treated like a traditional Sales Engineering bonus plan where it’s more aligned with base comp than dependent on personal and firm performance.
Why were you looking for new opportunities in the first place. If it was strictly due to compensation, then I’ll stay put quite honestly
I wanted to get back into consulting vs what I was doing for the last year (staff aug for a client and pre-sales engineering support). Our consulting practice has begun to shrink in the last 18 months and the opportunities to return were limited. Since COVID I’ve pretty much been my own boss working around 30 hours a week with flexible hours. I’m more happier now despite the majority of the things that bothered be still being relevant (broken promises, poor leadership, healthcare, etc)
Taking into account higher health care premium at your current employer - what is your base salary coming up to be?
I would try squeezing out atleast 20-25% more as base from current employer (22k-27k in ur case) and something more in equity.
Currently making $100K now in base. This would be a 30% increase with my current employer and 15% with the new employer.
I would structure this as financial and non financial factors. For financial, I’d have the net difference between the counter and the alternative as one number (include cost diff in healthcare and retirement match etc) to make it easier to digest. Then, look at the qualitative factors.
That was my first step. Best I can figure was total comp for the new offer (financial + monetizing traditional non-monetary factors like healthcare and paid parental time off) is approximately $157K. The counter would only match or exceed that if the options were fully vested after 3 years and the company sold for at least 3x the strike price (a lot of dependencies that are out of my control with the options paying off).
Forget the counter. It’s just a target on your back during any layoffs.
20+ years of experience says take the new offer. Your company knows you are not loyal now, expect that to hinder your chances for the future promotions and pay hikes. Also if there is a reduction in force, you will be looked at very seriously.