Changing jobs can be quite a hassle. At what point is that inconvenience worthwhile to you? A 5% salary increase? 10%? When the firm owners become utterly detached from reality in their expectations of responsibility and wage growth? At what point is a decrease in salary acceptable? Does loyalty to your employer affect this decision? Why or why not?
I dont think I have a set in stone answer, it depends on a number of things. How much more is the new job, how much do i hate my current job, what will the change in work/life balance be, do I enjoy my current coworkers (will i enjoy this new places more), what are future job prospects at this new place.
You should rarely give you new employer a break, since the pension disappeared employers dont care about you and you need to be ready to hop on a better opportunity. Sadly you are worth more to a new employer than you usually are to your current employers. I am currently interviewing for a position that would increase my base by about 20%, not sure what all in would be. Still early in the process an I would need to get a better feel for the role and the team I would be working with before I could decide if it is worth it for me to jump, or if I should just use the interview as leverage for a raise.
in my experience, there’s no clear cut answer. In fact, I took a 12% pay cut to take my last job, because it offered additional training that was specific to what I wanted to do, plus it offered a partner track to an already-built book of business. Add in the ample vacation time and the 4.5 day work weeks and it was a done deal.
Then reality set in. “Additional training” really meant “mopping up sht that nobody else wants to do”, “partner track” means that you’re getting paid sht wages until you make partner, and 4.5 day work week meant 4.5 days at 12 hours per day.
Altogether, I would see what it offers in terms of work-life balance, guaranteed money, potential money, and the opportunity to do things your way. Just be careful that you don’t fall for the bait-and-switch like I did
Yeah I mean you can’t open an interview discussion like that - that’s silly. But, if you’re applying to 1000 positions I think it is a good approach to filter and get on the same page as to expectations, but to each his own.
To be fair, when my last boss offered me a 12% pay cut to come work for him, I almost responded, “Get back with me when you have a REAL offer.” I didn’t, because I thought he would compensate in other ways. I was wrong.
Couple months ago, headhunter calls me up and tells me about a similar position at a much larger firm. I said sure, I know some people who might be interested and he’s like no, I want to see if you would be interested. I was like no, I’m happy where I am, get paid well, and have a lot of investment discretion. The headhunter goes is there a price that would get you to leave and I was like sure, but it would be an unreasonable amount of money that I’m probably not worth. So the headhunter goes they would be willing to pay you 2-3x what you’re making now. I was like yup, that’s the unreasonable amount I was looking for. To be continued…
I have done this with HR too when scouted directly from the hiring bank.
‘what is the comp?’ is the first question you should ask. If it 20%+ then we can begin the conversations, otherwise everyone is just wasting their time. For me personally, it would have to 50% to make me jump ship … i like where I work too much