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Why do people think an employer can't function without them, when that employer wants them to do more work but not pay them any more money?
Whether your current employer is reliant on you or not should have absolutely zero to do with a decision whether or not to stay.
It's not an ideal situation but I would take what sounds like far better job security rather than stick around in what sounds like a rapidly sinking ship. But push back for more money. And your resume will look fine because you get a better title so it will appear that you moved companies for a promotional opportunity. No one bats an eye at that.
And if you end up not wanting to work with this boss and there are no internal openings available, at least you'll have a more stable situation in which to look for something new.
I was recently presented with a very surprising fork in the road and I'm not sure how to decide. It has really been stressing me out, even though either option is an advancement of my career.
I've worked in commercial banking for two years now, all of it spent with my current employer, where I've enjoyed the work. Our Company is slated to be acquired sometime soon by another bank, and the higher-ups have bungled the transition every step of the way. Some people were laid off and recently a number of the top brass quit for another bank due to a general sense that the new bank (post acquisition) will be poorly managed and led and the sales goals (which I do not have myself) will be strictly enforced. The worst case scenario is that the bank post-acquisition will under-perform and they'll start laying people off and shrinking. Regardless of what does happen, the atmosphere right now is that we're on shaky ground and leaderless. I've been looking forward to this new bank, however, since I'll be getting a promotion (although no pay raise) and more responsibility, which has been my main goal since I began working there. So bank-wide, there's a sense of weariness, although my role is probably more initially resistant if things start to go sour.
Then, out of the blue, my boss asked me if I would join him at a different bank. This other company is much larger and offers more growth opportunities for me, my boss says, is far more stable, and we would be less limited in the kind of deals we can do, so I'd learn more. I need to decide soon and I can't say a word of it to anyone else working there. My main hesitation are as follows:
My current company is extremely reliant on me and will be even moreso after the acquisition, since I'm the best and most experienced at what I do. I do not want to burn bridges and I fear that they would be screwed if I left, considering the workload they have arranged for me after the acquisition. I have two bosses, and I get along great with the one that I would have to leave behind to deal with the wreck of my departure. I am not a confrontational person and it is not like me to abandon a company that has treated me well.
I have generally not gotten along great with my boss (the one who asked me to leave with him). He doesn't micromanage or anything, but our personalities clash, he intimidates me, and I'd prefer to not work with him if I had the choice. If I leave with him to this other company, I would be working even more closely with him than I do now. This isn't a dealbreaker, since I have a large degree of autonomy. He's not terrible, just brash, competition, and a bit humorless. He's very knowledgeable and respected in the area we live.
I like the idea of working a long time for one employer because my resume (pre-banking) had a lot of moving around, which doesn't look good if I have to relocate in the future and get a new job. I'm two years in at my current employer, which is a record for me, and it would be cool to add more time to that.
I will have a promotion regardless of whether I stay or leave, and I think the salary will be the same (no pay raise). Both are in the same town. I'm in my early 30's btw.
How would you go about evaluating this?
Thanks everyone
A promotion without a pay raise is just more responsibility(work) with no reward. Besides unless you have this in writing you have no guarantee of anything when it comes to a merger/acquisition of a company.
They many keep you for a few months, work you like a dog, than let you go.
I think I would go with the boss, you're not marrying him. Despite some of the issues he must think you're an asset. I would get off the sinking ship.
Why do people think an employer can't function without them, when that employer wants them to do more work but not pay them any more money?
Whether your current employer is reliant on you or not should have absolutely zero to do with a decision whether or not to stay.
It's not an ideal situation but I would take what sounds like far better job security rather than stick around in what sounds like a rapidly sinking ship. But push back for more money. And your resume will look fine because you get a better title so it will appear that you moved companies for a promotional opportunity. No one bats an eye at that.
And if you end up not wanting to work with this boss and there are no internal openings available, at least you'll have a more stable situation in which to look for something new.
Many today have big egos, in large part due to social media.
I have a friend who has your typical office job, nothing special. She thought she needed to give 5 weeks notice, I told her you're not the star of a Broadway show, you give two weeks notice and nothing more.
Don't be loyal to your current employer just because you think they will have a hard time without you. Trust me, you could be here today and gone tomorrow! You said they were already laying off people. And the fact that they want to give you a "promotion" but no pay increase is ridiculous to me! No way am I taking on more responsibility without a pay increase! I would speak with the other bank and see if you could squeeze a higher salary out of them!
Stay with that bank and let the other boss dealbrake with other co worker(s).
BTW, you probabaly do not even know if he asked anyone else.
Usually expectations of new company do not happen the way we think.
If I had the option to go with my boss, I'd go. You will not be asked twice.
And he probably knows more about what the future will bring at that place, than you do.
I never worry about personality & can work with anyone smart that does their job well. I worry ONLY about competence & loyalty. He is not throwing you under the bus, and the new outfit might just.
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This happens all the time in banking. Unless the new bank gives you a sign on bonus or a big increase in pay, stay with the current bank. These moves rarely end up working out.
There's also no way I'd ever stay to do more work for the same pay if I had another option. I would go with the job at the bigger, more stable bank that has lots of opportunities for growth. I would also ask my supervisor to negotiate for a higher salary for me.
Your current bank has a lot of problems right now. If all the higher ups who know more than you about what's going on are leaving, it's probably a good idea for you to leave too, especially if you're being handed a new job on a silver platter.
Don't go down with the ship. If the people in the know are leaving, do the smart thing and follow suit. If you don't want to work with the boss who is offering you the position at the new bank, start interviewing elsewhere and find your own position.
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