Get into management or not?

Spanky

Spanky

Thinks s/he gets paid by the post
Joined
Dec 19, 2004
Messages
4,455
Location
Minneapolis
Let's supposed that you receive an offer to get into an engineering management position with a start-up company, but the pay is similar. You are only a few years (< 5 yrs) from retirement, working for a mega-corp with a pension (albeit small) in a comfortable environment as a technical lead engineer. Would you make that switch? I would imagine that you probably think it's crazy to make such a transition unless the start-up offers more exciting work and a much better compensation package. :cool:
 
Is the pension vested? Can you take it with you?
Do you want to do it?

If the answer to both is yes, I would go for it.
 
My experience in small start-up management position is one with lots of hectic schedules, long work hours, and a lot of young engineers who may not see eye to eye with a near-retire manager.

If you are mid-career, I would say yes since that could propel you into higher management positions in later jobs. But, I would not put myself into that if I only have few years left before retirement.

Stability and tranquility would be more important to me at this stage.
 
A couple of comments:

(1) In my opinion, since your kids are college or near college age it is a good time to consider such a move. I actually did the opposite. I moved from a start-up to a mega-corp when the kids were small for a better work-life balance.

(2) I really enjoyed my time with the two start ups that I was with but I had options with significant up side potential. If I were to go back to a start-up I would want options or a similar incentive especially since you appear to be ok with your current position.
 
I went from engineer to manager, did the mid-level management thing for ~7 years, and then went back to hands-on technical work. For me, management was too far removed from what I enjoyed about technology. Getting a team to accomplish something never equated to a personal sense of accomplishment for me.

I wouldn't work at a startup as an engineer, let alone as a manager, without some kind of potential payoff in the form of stock options, etc.

Of course, as with everything, YMMV. :)
 
Do you need the potential stress? Will the management position offer you something prior to retirement? Can it delay retirement if you truly enjoy it?

Since it's a start-up, what is the current funding and burn rate as it may be risky to last 5 years?

To me start-up = much longer hours and stress. Without the reward of salary, stock options, better benefits, possible preferred travel, etc. it would not be worth it to me. However, if you get a personal satisfaction of "making it to management" before you retire, go for it.

It's really a personal value here, YMMV.
 
fh2000 said:
My experience in small start-up management position is one with lots of hectic schedules, long work hours, and a lot of young engineers who may not see eye to eye with a near-retire manager.

If you are mid-career, I would say yes since that could propel you into higher management positions in later jobs. But, I would not put myself into that if I only have few years left before retirement.

Stability and tranquility would be more important to me at this stage.
Click to expand...
That's a good point. Stability, though not guaranteed, counts a lot at this stage of my career.
 
mb said:
A couple of comments:

(1) In my opinion, since your kids are college or near college age it is a good time to consider such a move. I actually did the opposite. I moved from a start-up to a mega-corp when the kids were small for a better work-life balance.

(2) I really enjoyed my time with the two start ups that I was with but I had options with significant up side potential. If I were to go back to a start-up I would want options or a similar incentive especially since you appear to be ok with your current position.
Click to expand...
Yes, start-up can both be fun and challenging but also risky. An attractive incentive is definitely needed to propel a change, however.
 
ProspectiveBum said:
I went from engineer to manager, did the mid-level management thing for ~7 years, and then went back to hands-on technical work. For me, management was too far removed from what I enjoyed about technology. Getting a team to accomplish something never equated to a personal sense of accomplishment for me.

I wouldn't work at a startup as an engineer, let alone as a manager, without some kind of potential payoff in the form of stock options, etc.

Of course, as with everything, YMMV. :)
Click to expand...
Technical work, in my opinion, is a lot more rewarding and interesting than managing people and playing the political game. That's probably the prime reason that I have resisted the temptation to get into management even though I hold an MBA from a prestigious university.
 
Aiming_4_55 said:
Do you need the potential stress? Will the management position offer you something prior to retirement? Can it delay retirement if you truly enjoy it?

Since it's a start-up, what is the current funding and burn rate as it may be risky to last 5 years?

To me start-up = much longer hours and stress. Without the reward of salary, stock options, better benefits, possible preferred travel, etc. it would not be worth it to me. However, if you get a personal satisfaction of "making it to management" before you retire, go for it.

It's really a personal value here, YMMV.
Click to expand...
No, I do not want additional stress. I have enough trying to meet project deadlines.

I have enough funding that I really do not need a higher paying job to retire.

Thanks.
 
I assume you are over 55 so you do not have to worry about 10% penalty on the 401k at your current job.
 
Arnie said:
I assume you are over 55 so you do not have to worry about 10% penalty on the 401k at your current job.
Click to expand...
Yes, I hate to admit that I am getting old. It's time for retirement instead of worrying about career advancement.
 
You may want to push the start up offer for more $$ and stock options or other benefits. If you get whatever extra you ask for the decision will probably be easier. Nothing to loose.
 
Why does the start up want you? Do you have some specific experience/talent they need? Do you know the other people in the startup? Would it be fun to work with them? Is it a cool product or service you would be proud to bring to market?
 
If you are financially secure and close to retirement anyway, it may be a chance to do something different, to end your career with some excitement and a bang. Of course, I mean that if you are of the more adventurous type, and are getting bored with your current work.

Still, I would not get short-changed. The new work is very likely more demanding and stressful, and I would want to get properly compensated. If people say they appreciate your work, they will have to prove it with more than words.

PS. Rereading your posts, it looks like you see no reasons to take this job, and already make up your mind, it appears.
 
Arnie said:
I assume you are over 55 so you do not have to worry about 10% penalty on the 401k at your current job.
Click to expand...
If the 401k is rolled over to an IRA or to the new employer's plan, I don't think there is any penalty, even if under 55.
 
You are asking people who think that it is wrong for kids to get liberal arts educations and dream to be artists. :)

You won't lose the pension. Negotiate for the best deal and then do what your heart desires.
 
FreeAtLast said:
You may want to push the start up offer for more $$ and stock options or other benefits. If you get whatever extra you ask for the decision will probably be easier. Nothing to loose.
Click to expand...
Thanks. It's something to ask for if management is the path that I want to take.
 
Buckeye said:
Why does the start up want you? Do you have some specific experience/talent they need? Do you know the other people in the startup? Would it be fun to work with them? Is it a cool product or service you would be proud to bring to market?
Click to expand...
They are looking for one who has software development expertise of medical device and mobile communication.
 
NW-Bound said:
PS. Rereading your posts, it looks like you see no reasons to take this job, and already make up your mind, it appears.
Click to expand...
You are reading it correctly. I do not see any big benefits of making the transition.
 
You must log in or register to reply here.

Similar threads

U
Thank You !!!
Replies
7
Views
1K
HawkeyeNFO
HawkeyeNFO
P
After FI: late 30-something wondering what her purpose is
Replies
14
Views
890
LateToFIRE
L
K
2022 Personal Financial Report Card
Replies
14
Views
1K
Dtail
D
S
New TSP Website - Absolutely Awful Implementation
Replies
18
Views
3K
W2R
W2R
I
Re-Introduction - FIRED in 2022
Replies
7
Views
2K
Gumby
Gumby

Latest posts

Back
Top Bottom