View Full Version : Just asked to name my salary to leave current job.......
mindfold
11-25-2014, 20:56
A little background first. I am very happy with my current career and future with this company. In fact I just got my yearly review. I have a bright future with a very stable company. Out of the blue an ex-coworker of mine calls me. His brother is a president of a company in my field and is expanding.
After a short conversation he tells me why he is calling me. I was honest with him and said I am very happy where I am at and I am not looking. Then he says," I need a number that will make you leave where you are".
Of course I laugh but he is serious and he wants a number tomorrow.
First of all, do I even bother giving him a number? I know money is not everything but it sure makes life a little easier.
Second, if I do give him a number, what % increase would you need to move on to a better job but maybe not as stable. My current company never laid anyone off this last downturn. That is a VERY big deal.
I know there are other factors like locations, future growth, ect. All those are pretty much the same.
Double your current salary and better benefits. If they are serious, they will begin negotiations.
A bird in the hand is worth two in the bush.
mindfold
11-25-2014, 21:20
Double your current salary and better benefits. If they are serious, they will begin negotiations.
A bird in the hand is worth two in the bush.
Retirement benefits cannot match where I am now. "Double your current salary" is not a serious response. I do not want to burn a bridge. These kind of connections with this level of people is not to be taken lightly.
OtterbatHellcat
11-25-2014, 21:23
Will you have to move self/family out of state in the process? If you can name a number and they'll pay it, consider it for sure.
Bitch is, showing your loyalty to the folks that employ you now might pay dividends in the future as well.
50% is clearly on the high side, but if they offer 30%...it would be tough to not make the move to the new folks.
If they can't match the retirement, 1.5-2x is not unreasonable. Benefits always need to factor in.
OtterbatHellcat
11-25-2014, 21:24
BTW...you need an apprentice?
lol
hollohas
11-25-2014, 21:34
I'm with cstone on this one. Otherwise, if you are that happy at your current job with such a bright future, I say stay there. Why even consider leaving?
mackbamf
11-25-2014, 21:37
I have done consulting work for both well established companies as well as some very well funded start ups and have seen a lot of people come and go with their jobs. Expansion can be tricky but if there is truly a good management team in place, they are well funded and what they are trying to accomplish is reasonable and realistic then yes it could be worth the gamble. If they are just shooting for the stars are taking a leap on expansion and they do not have the items I listed above then that may not be the right move. Depending on what level you would be entering their company I have seen many different incentive packages to entice executives and management level people to come in with large base salaries, sizeable cash bonuses and/or guaranteed stock options. Stock options (if an option) can be good in that there isn't a big cash layout that they need to offer up which can pay big time on the back end for you. These days you have to be careful, you don't want to find yourself out of work in 18 months and regret you ever left. Competent and strong management is KEY. Get advice from people familiar with your situation who may have some insight, trust your gut and keep the big picture in mind. Good luck...
mindfold
11-25-2014, 21:53
I have done consulting work for both well established companies as well as some very well funded start ups and have seen a lot of people come and go with their jobs. Expansion can be tricky but if there is truly a good management team in place, they are well funded and what they are trying to accomplish is reasonable and realistic then yes it could be worth the gamble. If they are just shooting for the stars are taking a leap on expansion and they do not have the items I listed above then that may not be the right move. Depending on what level you would be entering their company I have seen many different incentive packages to entice executives and management level people to come in with large base salaries, sizeable cash bonuses and/or guaranteed stock options. Stock options (if an option) can be good in that there isn't a big cash layout that they need to offer up which can pay big time on the back end for you. These days you have to be careful, you don't want to find yourself out of work in 18 months and regret you ever left. Competent and strong management is KEY. Get advice from people familiar with your situation who may have some insight, trust your gut and keep the big picture in mind. Good luck...
I would be part of that competent and strong management team and this is part of that management level people. I guess I am just wondering if I even bother giving them my "magic number". Yes we all have our price. I guess I am worried if they say, "When can you start?" after I give them my crazy number.
HoneyBadger
11-25-2014, 22:00
I would be part of that competent and strong management team and this is part of that management level people. I guess I am just wondering if I even bother giving them my "magic number". Yes we all have our price. I guess I am worried if they say, "When can you start?" after I give them my crazy number.
Then give them a REALLY crazy number. :D
Hotchef181818
11-25-2014, 22:04
For me in that situation I would give them my crazy number. If they accept, your happy no matter what. It could just be the beginning of a negotiation, which could lead to almost being the crazy number. Benefits play a huge part, if they aren't on par that needs to be made up in pay. Toss the crazy number at them to see how they respond, worse case scenario they shoot it down. My reply would simply be " you asked for a number to get me to leave a job I wasn't interested in leaving, I wanted to see how serious you were". If it backfires you just go back to the job you are already happy at. Win win!
mackbamf
11-25-2014, 22:12
I would be part of that competent and strong management team and this is part of that management level people. I guess I am just wondering if I even bother giving them my "magic number". Yes we all have our price. I guess I am worried if they say, "When can you start?" after I give them my crazy number.
If you believe in the others around you and what it is this company is providing/selling then maybe it deserves some real consideration. I would now ask myself would you really like what it is that you would be doing at this new job? Good pay is obviously great but not liking your job, adding too much additional stress, etc. may not be worth it. Would you like working with the people around you, under you and especially above you? Again, this is something that may not be worth the money if it adds too much stress. When you say not as stable do you mean the company as a whole might not be around in 5-10 years or possibly this new expansion might not work and you would be let go? You have to weigh out the risk vs reward. You are being wise in not immediately chasing the money but sounds like it may have some real potential...
To me, this is a question similar to: You like your current house. Someone out of the blue walks up, knocks on your door and pulls out a suitcase full of money and says, name your price. If you start at a ridiculous number, you smoke out the fools and those who are not serious. No harm done because the worst thing that happens is you stay where you are already satisfied. If they come back at a number well above your current salary and the other terms are acceptable, you have a serious offer to consider.
I would never throw away a good, stable thing for anything less. Loyalty is extremely important to me. I don't give it easily and try never to break it.
Look at your total benefit package including retirement and healthcare etc. ask the new company what they offer. Then come up with a percentage above that number which makes the jump/risk worth it to move jobs.
50% or more would not be out of line IMO.
KevDen2005
11-25-2014, 22:50
A bird in the hand is worth two in the bush.
I have no idea what that means...
I just thought I would be the guy to say it
colorider
11-25-2014, 23:03
Stability is a major factor for me. No use switching to a new company for more $$$$$ only to get the boot in a year or so. Maybe sooner.
Well, if you were tasked with catching birds, which is worth more? But you can just let your imagination take you where you were going anyway [LOL]
Stability is a major factor for me. No use switching to a new company for more $$$$$ only to get the boot in a year or so. Maybe sooner.
I did this for a %25 raise, they paid me for 4 months and worked me 5. Then 9 months of Obama funds before I found a job at the old rate.
Politely decline if you're happy.
Stevensje
11-25-2014, 23:23
You really need to find out what monetary value you can bring to the business. That should help you come up with the magic number. You obviously will need to carry your weight and make it a sustainable long term deal.
Unless you want to gouge for an extra 50% and be out in a year or two contract.
Hell, if either co. pays more than Home Depot, let me know if they're hiring!
Someone willing to poach you from your current job- where they once worked (is it right to assume that they are now a competitor to your current job?) doesn't display much in the integrity department. What's to say he's not going to lay you off a few months down the line? If you're happy and have great retirement benefits, I'd politely decline. Then again, I think very highly of loyalty.
Someone willing to poach you from your current job- where they once worked (is it right to assume that they are now a competitor to your current job?) doesn't display much in the integrity department. What's to say he's not going to lay you off a few months down the line? If you're happy and have great retirement benefits, I'd politely decline. Then again, I think very highly of loyalty.
Depends on the industry and level of position I think. In my line of work, it's just a matter of where you fee like being shit on at the moment. :)
Depends on the industry and level of position I think. In my line of work, it's just a matter of where you fee like being shit on at the moment. :)
I didn't think we were in the exact same job. Maybe we are.
Go to your employer and tell them you've had another offer. Maybe they'll offer you some incentive to stay.
Aloha_Shooter
11-26-2014, 07:08
Go to your employer and tell them you've had another offer. Maybe they'll offer you some incentive to stay.
I'd be right up front with your current employer and tell them you're going to give him a crazy number like triple your current salary and better benefits just because he's demanding an answer but that you like where you are. If the other company gives you a counter then let the your current employer know because the other company's counter gives both you and your current employer a better feel for your worth in the market.
If the other company agrees to your crazy number then ask them for 1) some details about their company so you can assess their ability to pay that long-term and 2) a moment to think about the ramifications of leaving. Be upfront and tell them you never really expected them to agree to that number so you really need to discuss with the family.
My thought is...... Stay where your at now. No lay offs, and what's more important than money is that they treat you good.
I have a crystal ball that let's you see into the future. For just $10000 I will let you use it for an hour and see what your correct decision is.
Also make sure you poop on everyone's desk, just so they know who really holds the power here.
newracer
11-26-2014, 09:21
Stability is very valuable.
PugnacAutMortem
11-26-2014, 09:21
Double your current salary and better benefits. If they are serious, they will begin negotiations.
A bird in the hand is worth two in the bush.
That was my initial reaction as well. You already told the guy you are completely happy where you are and you don't want to leave. But as others have said, keep your current employer in the loop at all times on this. Good luck with your decision.
... I have a bright future with a very stable company. ...
I believe you answered your question.
I don't know what your line of work is, but the tech sector in CO is booming.
Are you happy because of your work? People? Manager? Because that is a HUGE! the people you see and work with daily, sometimes more than your family are why people stay at a company. If you are in good standing at your current employer, theres no harm in being honest. If you leave, leave on good terms. Employers have to understand that people, especially the newer generations are changing jobs every 3 years.
spongejosh
11-26-2014, 22:41
"I don't know buddy. I'm really happy where I'm at. Considering the great benefits and people here, it would have to be something like 2X what I make here to even consider leaving."
Doesn't burn a bridge and opens the door to a ridiculous offer.
Grass isn't always greener on the other side. I'm very content where I am now and don't plan on going anywhere anytime soon. Regardless of a "number", It's all about being happy where you are in life. An old friend once told me, "If the pay doesn't outweigh the bullshit...it's time to go".
Starbuck
11-27-2014, 09:02
OP, my opinion is that one misses a lot if they just evaluate a potential relocation/new job as just "What % increase over my current salary is reasonable?"
You said you're in Management. Then ask for a for a five-year contract and a perhaps a meaningful cash signing bonus. The contract takes much of the risk out for you. Certainly some long-term compensation should also be considered, such as stock options or a pension, or at least generous 401(k) matching.
Also ask for "Full Relocation Expenses" which would include: Broker commission on sale of your current home, house hunting expenses with a generous per diem, all loan origination, closing costs, and inspections associated with the purchase of a new home, moving your vehicles to new home, all packing and moving expenses, etc.
If you for some reason are underwater on your current mortgage, ask for that to be covered as well. If the new company really wants a Mangement candidate, this generous add-on would not be out of the question.
Hope this helps.
ChadAmberg
11-27-2014, 09:35
I'd look at this another way. Tell the guy to ignore the salary right now, you want to talk to him about the job. All the details. What the company does, what their 5 year plan is, what the future holds, etc. Then get into what your role would be. Talk to people you'd be possibly working with. Maybe it's going to be something that's pretty cool and that you'd actually be excited about. Maybe they've got some new big long term contracts coming up and this will be a great opportunity. Once you get through all that, then take a day to think about it, and then discuss salary.
Retirement benefits cannot match where I am now. "Double your current salary" is not a serious response. I do not want to burn a bridge. These kind of connections with this level of people is not to be taken lightly.
You shouldn't be burning a bridge if you give sufficient exit notice and complete your current projects.
No employer in this era should be turning down someone who left to try something new and decided to come back after a year or two if it didn't work out, so long as they didn't grabass or steal on the way out.
So mindfold, what did you end up tell him?
I have no idea what that means...
I just thought I would be the guy to say it
http://www.urbandictionary.com/define.php?term=a+bird+in+the+hand+is+worth+two+in +the+bush
Sometimes what you have (a bird in your hand) is worth better than a chance (catching more birds) to have more and the possibility of loosing what you have in the process of catching the birds in the bush.
I closed my last company and went back to work for someone. The pay was half of what it was, the benefits were better, but one thing that couldn't be bought was job satisfaction. If your happy where your at, have a bright future, why leave? You can't buy happiness in a career. Money makes it easier to deal with, but in the end not waking up dreading having to go to work was worth the most to me, you spend to much time at work to not be happy.
mindfold
11-27-2014, 14:26
So mindfold, what did you end up tell him?
I said I am very happy where I am and I have a team working for me that I have worked too long to develop. I do not want to start over. The team I have now are the best people I have ever had the privilege to mentor.
He knows and wanted me to so the same for him.
Not gonna happen.
Thank you guys for the advice.
Money was never discussed.
Good for you! I was asked the same thing 3 years ago. What a hard disision.
Since you didn't take it have him call me and I'll take it.
Do this, go out so you'll always be remembered.
https://www.youtube.com/watch?v=yngq9NmOnFw
Holger Danske
11-27-2014, 19:38
Your current company is stable,but that can change fast too. Im on my third company this year even though im riding the desk. My original company, which I loved working for was bought out and then the new company sold my division to a third company. While Ill be fine at the latest company their culture is much different than the first company I worked for and I just dont like it as much. Now, you have a company asking you to name your price to work for them. You owe it to yourself to tender an offer to them and make it as lucrative for you as possible. The worst that happens is that they say no and you stay where you are. If youve got what they are looking for then they may be willing to pay what may seem a ludicrious sum for you to come work for them. Just saying.
jhood001
11-28-2014, 02:55
I was honest with him and said I am very happy where I am at and I am not looking.
I know that you're done with this thread after a few replies, but you probably didn't even need to post it in the first place. Unless you wanted a soundboard. And there is nothing wrong with that.
"Happy"
A lot of people struggle with the balance between happiness and making ends meet. it sounds like you're conquering both. Hell, a great deal of people don't even have the chance to weigh their happiness against their earning potential.
Keep being happy. Keep making a nice living.
More isn't always better. And there is not such thing as 'happier'.
I'd look at this another way. Tell the guy to ignore the salary right now, you want to talk to him about the job. All the details. What the company does, what their 5 year plan is, what the future holds, etc. Then get into what your role would be. Talk to people you'd be possibly working with. Maybe it's going to be something that's pretty cool and that you'd actually be excited about. Maybe they've got some new big long term contracts coming up and this will be a great opportunity. Once you get through all that, then take a day to think about it, and then discuss salary.
This.
You have a great job now and should be able to have your conversation in a completely relaxed way. You have nothing to lose and maybe, just maybe this opportunity would be a real step forward for you. There's only one way to find out. Don't shut things down up front with a crazy salary number.
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