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Old 07-29-2013, 10:05 PM
 
1,817 posts, read 3,780,707 times
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A recruiter today where I've been interviewing said they're preparing a job offer for me and that they'd make it compelling. I've already told them my current compensation (base salary, bonus, stock), but I'm curious about what I might be able to expect from this role. It is a lateral move from a title standpoint, but its also a potential growth opportunity. Growth alone is great, but I also need a nice bump. People have told me that a rule of thumb is to not take another job unless they can give you a 15% increase in total comp. Thoughts?
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Old 07-29-2013, 11:00 PM
 
Location: San Francisco Bay Area
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The professionals in my network say at least 10% if everything else is equal (which it rarely is). How about the perks/benefits that you stand to potentially lose in your current position if you leave? Will the new salary cover those? Things are rarely equal across the board these days, consider all aspects before making the jump. I jumped for a nice salary bump once and a few weeks later, regretted it.
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Old 07-30-2013, 12:14 AM
 
Location: Vallejo
14,062 posts, read 16,081,530 times
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Just depends. I took a cut in pay once, but writing was on the wall. The firm sold six months after I moved and 90% of the staff was let go.

Generally, I'd say 10%. It's going to take something to make a move attractive, assuming everything is going well at the other job. You're taking a lot of risks hoping the grass is greener on the other side, imo, so there needs to be some enticement. It could be monetary, it could be for more interesting work... but there's got to be something.
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Old 07-30-2013, 05:25 AM
 
Location: NJ
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Its not only about the money now. It could be about the money down the road. For example if someone had very little chance at being promoted in their current job a lateral move comp wise to a better situation could be the right move.
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Old 07-30-2013, 05:28 AM
 
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Well, they've told me that they'll either wait for my bonus payout and RSU vesting in Sept or cover it as a sign on. Also, they wanted to know what my unvested RSU balance is and expected additional RSU award in Sept will be. I think they're working on a pretty good package.

From another benefit standpoint, the 401k match program is MUCH more attractive than my current employer. I'd imagine the health coverage is comparable, as they're both large companies. I think the vacation is comparable as well. I'm honestly not too concerned about this area.

The work on paper sounds exciting....designing/implementing/standardizing something from scratch. My current role is much more executing against something that has already been standardized. It sounds like there's a lot of growth opportunity, as the group is rapidly expanding. In my current role, someone else would have to leave for me to have a growth opportunity going forward.

Still, I don't know if I'd take a 10% increase. I'll probably get a decent pay increase (not 10%) this fall and to your point of taking a risk, I think I need a higher risk premium than 10%. I'm thinking 15%+.
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Old 07-30-2013, 05:40 AM
 
Location: NJ
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Does that mean you are completely discounting the better 401K match or are you somehow counting that in as part of the "increase"?

What about bonus and equity comp? Are they the same targets?
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Old 07-30-2013, 05:50 AM
 
Location: St Thomas, US Virgin Islands
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You'll know soon enough what the offer is!
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Old 07-30-2013, 05:57 AM
 
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Old rules of thumb don't necessarily apply in this economy. Only you know what you need for income to offset your expenses, debt and desired purchasing power. There are risks in staying and there are risks in leaving. You seem like you have a number in mind; good luck.
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Old 07-30-2013, 06:51 AM
 
1,817 posts, read 3,780,707 times
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Quote:
Originally Posted by manderly6 View Post
Does that mean you are completely discounting the better 401K match or are you somehow counting that in as part of the "increase"?

What about bonus and equity comp? Are they the same targets?
Not discounting it at all, just saying that's not everything. Bonus target would be higher, although I think the payout would be comparable (I've been paid well over target for 3 years). I think the equity comp would be on par, or perhaps a little bit lower.
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Old 07-30-2013, 07:37 AM
 
Location: Hougary, Texberta
8,593 posts, read 11,077,046 times
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I think once you reach a certain level within a company, the offer has to be really compelling. 15%+ or a promotion/significant opportunity to consider jumping ship.

I've worked long and hard where I am, know all the players and what it takes to get things done. I wouldn't leave a "good thing" for a few grand in cash to go to something with a huge amount of uncertainty and not knowing the players or the landscape.
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