So I was just offered a new job at a major insurance company making 20% more than what I'm currently making + a signing bonus.
I love my current company and the people I work with, especially my boss, who is a brilliant and kind man, and an excellent teacher. They are going to counter-offer to retain me, they said they will let me know by Tuesday.
The dilemma I have is what's the better long-term bet?
My current company is pre-IPO and growing fast, we were one of the only non-public companies at the WH a few months ago if that's an indication of anything; and I am 1/2 of a small but upstart program within the Data Management Department, a program my boss and I built from scratch. If we are successful, my upward mobility to upper level management could be quicker.
But we're only starting to make a dent in our ROI projections, and I don't know how valued we are by our CTO, though our VP seems bullish on what we're doing.
The new company is one of the major insurers opening up a new investment in the area of data management that i'm working in. They are investing millions. They are committed long term, but of course, it's a bigger team and probably a longer ride to the top of the ladder.
Current Company offers: Familiarity, Great Boss (at least for now), faster upward mobility, but could be scrapped in 6 months. Less money, but they might match.
New Company offers: Bigger team, potentially more stability assuming I fit with my boss, slower upward mobility. More money for now.
Which way would you go?
I generally take the approach of the grass isn't always greener, and a lot of bosses really suck. So if you're happy with your boss and they match the comp, I'd probably stay and ride it out.
either way, congratulations and good luck...
My 'would-be' new boss seemed awesome too. I really hit it off with her during the interview process.
I don't think it would be a quesiton if it weren't for the fact that my current boss is probs going to retire in 2-3 years.
1. I would never (well almost never) accept a counter offer for a few reasons among them is your company knows you want to leave (or would leave) and I just think they'll look to elevate others instead of you or consider others for critical assignments/projects. What I would do (and maybe you did this) is if I had a great relationship with my boss is talk to my current employer and lay out things you would like to see changed - including compensation
2. Unless it was life changing I wouldn't leave a job for money (not that you are). I'm one of those people who believes more that you work for a specific manager (or hierarchy depending on the company) and I view it more as leaving a boss not necessarily a company. Most sources will tell you that not working well or getting along with your boss is #1 reason for leaving a job - followed usually by doing unfulfilling work (especially as millennial and genz flood the workforce), and at best compensation is third - many times lower.
I have a good relationship with the VP and my boss. I did lay it out to them how this came about.
I was/am not looking to leave, I took a phone interview because I was curious about the types of questions they would be asking on job interviews because I felt uneasy about how much they valued what we're offering, so I was covering my bases. But it turned into a really good opportunity.
The VP trusts me, and he knows I'm not trying to play them off each other, but an offer came which I couldn't ignore.
The other major factor, as I pointed out, is that its more the fact that my current boss is near retirement age, and if I'm not sure how the company values our program now, and their only half-invested, why would that put me in a better spot to stay for 6 months, and then have them cut the whole thing off, while another company is investing years into this program? It's a risk both ways.
does that help clear things up?
Good luck.
I have a good relationship with the VP and my boss. I did lay it out to them how this came about.
I was/am not looking to leave, I took a phone interview because I was curious about the types of questions they would be asking on job interviews because I felt uneasy about how much they valued what we're offering, so I was covering my bases. But it turned into a really good opportunity.
The VP trusts me, and he knows I'm not trying to play them off each other, but an offer came which I couldn't ignore.
The other major factor, as I pointed out, is that its more the fact that my current boss is near retirement age, and if I'm not sure how the company values our program now, and their only half-invested, why would that put me in a better spot to stay for 6 months, and then have them cut the whole thing off, while another company is investing years into this program? It's a risk both ways.
You can view your boss retiring as an opportunity, could it be?
If not, then you leave, but also to consider is job market, I know you said the new company is more stable, but that's a risk to me (with everyone).
but you know what you're doing.
And I agree, congrats, it is a good dilemma - certainly better than trying to look for a job in this market when you don't have one.
Sounds like you are in a fantastic situation! Congratulations.
Just one quick observation from someone who worked at several very small start-ups to several very large companies over a 40-year career:
There are a lot more layers of management at very large companies.
One other observation: brilliant bosses who are kind and excellent teachers do not grow on trees.
Just being honest. And good luck in your personal life decisions.
Just being honest. And good luck in your personal life decisions.
I find your post offensive. CMicks was just bouncing ideas off people. I felt not on iota of braggadocio...
Lots of people in similar situations here that he can wade through their answers and possible see something he is missing.
JMHO...
+1
For now, I’d stay and enjoy the add’l compensation you’ll get doing what you were doing before you got the outside offer.