New job offer - question is - do I accept?

[baz]

Bro, are you fukkin nuts?

You're really actually considering returning to an office which is a 2 hour drive each time minimum, for a 5% pay increase?

LOL, he doesn't drive a 1972 Zephyer with a faded ass "Phillies" P sticker on it.....5% pay probably out weighs the additional travel by legit 1000s of dollars.....

 

[phillyflyers]

In

LOL, he doesn't drive a 1972 Zephyer with a faded ass "Phillies" P sticker on it.....5% pay probably out weighs the additional travel by legit 1000s of dollars.....

It doesn't matter what the pay increase is especially if he's making good money now because the additional stress and headache ain't worth it.

 

[edawg]

Jobs don't matter in this life. You are either predator or prey. When you sit down for an interview just ask yourself are they going too f*** you out of your time or are you going too f*** them out of their money. It is all bullshit they aren't your friends and you aren't theirs.

 

[djefferis]

So Tanko called it earlier in this thread - check the company financials.

I was under impression company was not publicly traded. That’s incorrect - and stock went from 100 to 40s this year. Not good, especially when the “great” retirement is tied up in company stock. 20% salary contribution last year is now equal to a 8% contribution present day - hardly anything worth jumping for. Oh - your stuck with those shares too - no option to sell until you leave and 3 year vesting. So potentially place goes to shit and I need to leave - I get zip from it.

Also checked their socials - they post monthly employee work anniversary’s - the number of 1 year and 2 years greatly out paces everything else by like 8-1. Not the “average 12-15 year tenure” I was told in the interview.

Won’t say it’s a hard no - but sure feels like a ship that’s taking on water. Strong contract I’d consider it - but no way I’d just walk in as an at will employee and potentially be out a job tomorrow. My feeling is they likely will be a takeover target in next 18 months - they have a solid business, just suck at executing it lately. That’s scary as there are places I’d never work for in this industry and one of them moving in would screw me. Possibly my current employer eyes buying them too and that could be a bit awkward but manageable.

I’ll be talking to them tomorrow for more info - but just goes to show that greener grass on the other side is just because of all the BS they fertilize it with.

 

[Tanko]

Seems like you found a few red flags Djeff.

GL

 

[jjgold]

In

It doesn't matter what the pay increase is especially if he's making good money now because the additional stress and headache ain't worth it.

Thread over

 

[drunkenhorseplayer]

Not being able to sell your shares until you leave is an enormous red flag, stay away.

 

[edawg]

Nothing says thank you like a paycheck that never bounces.

 

[seaborneq]

Try the job. Nothing is ever as it seems from the outside looking in. Get a bird’s eye view and see how it goes.

 

[KVB]

Did he win?

 

[stevek173]

Did you take the job?

 

[BobbyFK]

I think if you get any retirement nowadays, you’re lucky. Most companies just give you 401(k) to get a retirement package nowadays I would jump all over that.

 

[djefferis]

So just an update - I am about to tell them to piss off.

Playing a very stupid game expecting me to rush down and meet with them to discuss things. I just told them the phone works just fine to communicate - but if you must meet in person - you know where i live.

Trying to gain an upper hand in a small negotiation and instructing me to come to you is not the way i work. My only sticking point was over vesting of retirement contributions - I want it waived. I stay where I am - I already am. Why give away 3 years vesting for free - offered a non compete in place so if I leave for another job they get it all back, but unless terminated for cause - anything I earn is mine. They want to talk “in person”. Pass.

 

[Tanko]

So just an update - I am about to tell them to piss off.

Playing a very stupid game expecting me to rush down and meet with them to discuss things. I just told them the phone works just fine to communicate - but if you must meet in person - you know where i live.

Trying to gain an upper hand in a small negotiation and instructing me to come to you is not the way i work. My only sticking point was over vesting of retirement contributions - I want it waived. I stay where I am - I already am. Why give away 3 years vesting for free - offered a non compete in place so if I leave for another job they get it all back, but unless terminated for cause - anything I earn is mine. They want to talk “in person”. Pass.

Non-compete clauses are illegal in some states.

 

[djefferis]

I think if you get any retirement nowadays, you’re lucky. Most companies just give you 401(k) to get a retirement package nowadays I would jump all over that.

Most people don’t understand how a PROPERLY managed 401k is more valuable than a pension.

There’s a difference between a full self funded 401k and one where the employer makes a larger contribution. I dont know what the cap is - something like 23k i think. But having the ability to walk from a job with 100k in cash at 5 years is much more liberating to most than the promise of a few hundred bucks a month at age 67.5. Take that 100k - buy an annuity that begins paying sooner and you will be far ahead AND in control of your own pension - not some company who may have mismanaged it.

My old man had lifetime health and pension for himself and my mom via his union job. Sadly both died before age 70 - but it wouldn’t have mattered much as the pension defaulted and went to the government insurance (so 70% monthly benefit guaranteed and the balance lost) and the health insurance card was lost. He had military connected disability so he was ok - but a lot of people he worked with are still around and totally screwed.

 

[djefferis]

Non-compete clauses are illegal in some states.

Legal here - but of course beatable for the right person/job.