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Minimum Pay Increase you'd accept to move to a competitor
Posted on 2/14/18 at 10:46 am
Posted on 2/14/18 at 10:46 am
What is the minimum % increase you'd accept to perform the same job at a competitor?
Things seem to be heating up in my industry. I did leverage a job offer last year for a 27% raise. Another competitor is recruiting me (and I suspect a couple of my colleagues as well), and I've got a prelim offer for about 10% more.
Position is exactly the same as I currently have, but I will be starting with a pretty interesting client.
Things seem to be heating up in my industry. I did leverage a job offer last year for a 27% raise. Another competitor is recruiting me (and I suspect a couple of my colleagues as well), and I've got a prelim offer for about 10% more.
Position is exactly the same as I currently have, but I will be starting with a pretty interesting client.
This post was edited on 2/14/18 at 11:01 am
10
Posted on 2/14/18 at 10:57 am to goofball
How miserable are you in your current job?
Posted on 2/14/18 at 11:00 am to goofball
Might want to check to make sure you don't have a non compete clause.
Posted on 2/14/18 at 11:00 am to goofball
Assuming all other things equal (commute, culture, etc.), at least 10% probably
Posted on 2/14/18 at 11:01 am to Sterling Archer
10% is a decent raise at $200k; not so much at $30k
Posted on 2/14/18 at 11:02 am to goofball
20% unless maybe the competitor offers more vacation or better benefits.
Posted on 2/14/18 at 11:03 am to Clint Torres
quote:
How miserable are you in your current job?
Not particularly miserable at all.
I'm just not entirely sure I trust my current employer to offer annual bonuses or performance related raises without leveraging other job offers.
I know that I'm eventually going to want an exit strategy to take a position that is less stressful and with less travel in 3-4 years. This new offer definitely isn't that position.
This post was edited on 2/14/18 at 11:05 am
Posted on 2/14/18 at 11:04 am to Civildawg
quote:
20% unless maybe the competitor offers more vacation or better benefits.
They match about 3% more for 401K than my current employer.
Posted on 2/14/18 at 11:21 am to Clint Torres
quote:
10% is a decent raise at $200k; not so much at $30k
10% is 10%...that's the way percentages work...it's all relative.
There's no logical reason why a $3,000 raise for a guy making $30,000 isn't every bit as valuable as $20,000 to a guy making $200,000.
Posted on 2/14/18 at 11:22 am to Moots
I'd argue the 3k raise for the 30k guy is WAY more valuable actually.
Posted on 2/14/18 at 11:27 am to Brageous
quote:
I'd argue the 3k raise for the 30k guy is WAY more valuable actually
I didn't even go there...but if there's an argument to be made, I think logic supports your point.
The higher you go, it's less about meeting essential needs and more just about discretionary wants.
Posted on 2/14/18 at 12:00 pm to Moots
quote:this. I can't name a number for me to leave my job. I would only leave for a better scope of responsibility, or a major improvement in work life balance.
The higher you go, it's less about meeting essential needs and more just about discretionary wants.
Posted on 2/14/18 at 12:17 pm to goofball
quote:
Things seem to be heating up in my industry
What industry/type of work.
I can tell you when things cool down they look to fire the new guy who jumps around and has a salary that is way too high.
IMO if you are a career white collar professional, your 20's and 30's should be about getting the best experience you can and then look to pay off in your 40's and 50's. An extra 20-40k here or there is nothing compared to being able to land a C-suite job and pulling down 7 figures later.
IF you are an hourly employee, sure get paid while you can and save up if its cyclical.
Posted on 2/14/18 at 12:27 pm to barry
quote:
your 20's and 30's should be about getting the best experience you can and then look to pay off in your 40's and 50's.
Who says you can't do both?
Posted on 2/14/18 at 12:32 pm to barry
How many people are realistically making it to 7 figure jobs? Your advice is usually spot on, but here I think you’re off the mark.
I think there’s value in staying in a role maybe a couple years longer than you’d like if it sets you up, but get your experience and get paid doing it.
I think there’s value in staying in a role maybe a couple years longer than you’d like if it sets you up, but get your experience and get paid doing it.
Posted on 2/14/18 at 12:46 pm to goofball
Given that I'm relatively happy, 50% increase in total compensation.
Posted on 2/14/18 at 1:32 pm to barry
quote:
. An extra 20-40k here or there is nothing compared to being able to land a C-suite job and pulling down 7 figures later.
Cause this applies to about 1% of the population at best...
Posted on 2/14/18 at 1:35 pm to goofball
I’ve got non competes with he majority of my industry so it basically is impossible to go to a competitor.
It would take a lot though because I love my company, team, and role. It would like be more about title, visibility, and opportunity to learn/develop than money for me to switch companies.
If it was the same role at a competitor it’d take north of 30%.
It would take a lot though because I love my company, team, and role. It would like be more about title, visibility, and opportunity to learn/develop than money for me to switch companies.
If it was the same role at a competitor it’d take north of 30%.
Posted on 2/14/18 at 2:21 pm to baldona
quote:
Cause this applies to about 1% of the population at best...
Yeah...1% is still overshooting the mark by quite a bit. Here's a Wall Street Journal interactive graphic that shows an annual income of $305,700 puts you in the top 1% of all Americans. You can further filter it from there to see where exactly you stand based on Sex, Race, Generation, and Education.
Actually pretty neat:
LINK
Posted on 2/14/18 at 2:29 pm to Moots
Well, I don’t feel AS poor now.
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