re: Would you take this job?

Here’s my advice - assume whatever you get hired at is what you’re going to make forever. That “evaluate in 6 months or a year” thing is nearly always BS. Highly doubtful any raises you get will keep up with inflation.

Bottom line is your last company gave you an 18 month paid vacation to use to find a new job. You don’t “have” to take the first thing that comes along just to have money coming in. You already have that money. That said, it would be nice to “bank” the severance.

Assuming the position is similar in scope to your old one, what I would do is say that this offer is “significantly” below your previous position and ask what they can do to make it more competitive given the current economic climate. Without knowing what you do, $115k for an engineer with at least 14 years of experience seems pretty low ball to me.

If they come back higher great. If not, you could always accept it and continue interviewing elsewhere. If you find something else quickly, you wouldn’t even need to list the low ballers on your resume. Personally, I would negotiate but take it either way while keeping the applications going.

To be honest, whenever I hit 2 years at a job, I start casually looking elsewhere and chatting with the recruiters who contact me waiting on the right move that comes with a big salary bump. This is the only way to keep your income from stagnating.

What kind of engineer? Are you a PE?

quote:

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1.7 years severance

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Ok.
So out of work 4 months.
That's out $37,500 on 150k salary.
Cobra say $10k.
Out $47500.

1.7 severance is 1.7x145k is $246k.

You're basically 200k up.

At 30k less that's over 6 years to make up difference.

Just rough #s. I realize taxes on HC expenses etc and interest on that $200k up front make it different.

Point being, you could be at this new job a few years before you'd lose any "net" money.
I'd take the job, and keep looking in meantime.

Clear on headline facts (less gross and higher benefits costs)

Have some questions:

Is the role similar (accountabilities, dimensions, knowledge reqts, 14-yr experience that you carry) to previous role?

Similar in retirement benefits, vacation, health, dental, vision, life, etc)

Similar in work/life flexibility?

Offer you intrinsic value (higher bonus opps, teach you new skill, etc)?

Opportunities to grow, develop and be promoted in company?

Stock ownership?

Assuming apples to apples old to new job, highlight value you bring:

Do you have certifications, PE, special skills they are not valuing?

Experience (proj mgmt, leadership)?

Willingness to further education to help new company?


From their perspective, each role has a market value mid point with a salary range anchored to it. You need to demonstrate why you are on high end, if not above high end.

Cobra is too expensive and marketplace may be not great coverage. Take the job and keep looking. Or negotiate for more now. Not at 6 months, they already have you at that point.

Negotiate to get closer to what you were making. You’re getting almost 2 years of severance. Pocket that money and adjust your living to the new salary.

quote:

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Have until Monday to accept but I was going to go back and ask if they can bump it up to 125 to 130.

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Why the deadline? You have competition for the Job?

What you made at a job that's no longer an option is pretty much irrelevant.
You either need the job or you don't. Only you can answer that. Other viable offers would increase your leverage tremendously.

You didn't counter?

Why not?

Why the deadline? You have competition for the Job?

That’s their deadline per the offer. I can go back to them before with any questions. Not sure if they have other candidates.

What you made at a job that's no longer an option is pretty much irrelevant.
You either need the job or you don't. Only you can answer that. Other viable offers would increase your leverage tremendously.

Yes that’s what I’ve been thinking. I don’t work there any more so it’s not like I am trying to beat that to jump somewhere else. The reason I would take the job is to get insurance for my family and to have money coming in. The severance is nice to have as a backup. Was hoping to save a lot of it for kids college funds.

Not with that severance...