Job Dilemma...which one to take?

[Calgary_Girl]

Okay, DH is facing a dilemma of whether or not to accept a new job.

Current Job:

-Manager
-Salary: Low $140's
-Great benefits
-Cons: The company has been bought out by another company and the future there is very uncertain

New job offer:

-V.P. (would be a huge leap in DH's career )
-New salary: $150K
-Full medical and dental
-Cons: The company is American and is looking to open up a Canadian office so essentially this would be a start up.

Now, the REAL dilemma is this: DH's current employer is offering everyone bonuses to stick around until the merger is approved and it is big bucks: $100K . However, everyone has to stick around for 3 months after the deal is approved to get the bonus and there's no guarantee that people wouldn't get let go before the bonuses are paid.

Therefore, some opinions are needed here. Would you stick it out to get the bonus or would you call it quits to make a more strategic career move that would pay dividends down the road? DH is finding that giving up the bonus money is pretty hard...

 

[REWahoo]

Now, the REAL dilemma is this: DH's current employer is offering everyone bonuses to stick around until the merger is approved and it is big bucks: $100K . However, everyone has to stick around for 3 months after the deal is approved to get the bonus and there's no guarantee that people wouldn't get let go before the bonuses are paid.

If alarm bells aren't ringing, they should be. No way would I consider staying for the bonus if it isn't contractually guaranteed.

 

[Ed_The_Gypsy]

Hi, Calgary_Girl,

What they are doing is setting everyone up so that the new management can decide who they want to keep. Do you really think they are going to pay out all those multiples of $100k I smell a rat.

I also don't buy promises. A bird in the hand....

I would go for the new job and never look back, but I am a cynical old man.

How lucky do you feel?

Ed

 

[cute fuzzy bunny]

Now, the REAL dilemma is this: DH's current employer is offering everyone bonuses to stick around until the merger is approved and it is big bucks: $100K . However, everyone has to stick around for 3 months after the deal is approved to get the bonus and there's no guarantee that people wouldn't get let go before the bonuses are paid.

As a veteran of a dozen buyouts on both sides, this is code for "we're screwed if key people leave before the buyout is finished, but we have no intention of paying this to people who arent considered absolutely key players in the new organization".

Of course, you're a lot closer to the situation and can tell for sure.

If I were your hubby, I'd sidle up to the appropriate management folks and say "I would LOVE to stay and be part of the new team, but I'm not interested in paddling my part of the canoe and then not getting this great bonus and a position in the new company, so can we lay out on paper the specifics of what I need to do and can I have my check now, with a pay back of the 100k contingent of my keeping my end of the bargain?".

And then take the new job when they balk.

 

[Ed_The_Gypsy]

And then take the new job when they balk.

because they will.

 

[HobbyDave]

because they will.

I do agree that there's a good chance they'll say no. However, I think it's worth trying. I wouldn't stay if they didn't promise the $100k. If your husband is in a really good position, they may make special exceptions for him. Especially if they want him to stay, and he makes it clear that he won't if they won't agree to his terms.

 

[BunsGettingFirm]

More than the finance stuff, this board is opening my eyes on how to deal with workplace shenanigans. If I were to face this stuff for the first time, I would be so happy with the $100K bonus that I wouldn't even know it's code for we're just stringing you along.

 

[Ed_The_Gypsy]

I do agree that there's a good chance they'll say no. However, I think it's worth trying. I wouldn't stay if they didn't promise the $100k. If your husband is in a really good position, they may make special exceptions for him. Especially if they want him to stay, and he makes it clear that he won't if they won't agree to his terms.

Ceberon,

The fact that they are taking this shotgun approach means they don't know who is key and who isn't.

TANSTAAFL!

 

[astromeria]

A dear friend was the last tech writer standing at a software company division being shut down. In return for staying through the shutdown (nearly a year), he was promised a $60k bonus. When the time came, they said "what $60k?" and gave him $20k.

 

[Canadian FIRE]

Would DH happen to work for Burlington? Sorry it just sounds familiar to a few different things I've been hearing about.

Unless you got a signed contract for that 100K bonus and a definite end point given (EG: no later than July 2007), I would suggest jumping ship. You don't want to be stuck waiting for a 100K for 18 months because some people can't get their ducks in a row.

Just my thoughts,
CF

 

[kathyet]

If it's not in your hand "Walk" because it is probably an empty promise.

Kathyet

 

[cute fuzzy bunny]

The fact that they are taking this shotgun approach means they don't know who is key and who isn't.

Thats because the new regime isnt in charge yet, they dont know which key players they'll want to cherry pick and pay the bonus to (probably could be counted on the fingers of one, maybe two hands), and they dont know who isnt going to fit.

Some will be skills/performance based, plenty will be part of the good old boy/girl network in action.

because they will.

Most assuredly. What they'll say is "We havent quite determined the dynamics of the new organization, so while we think theres an excellent chance that you'll be playing a major role in it...we cant make any committments right now. But the new management folks are very impressed with you so far!"...now go git along back to your cubicle and keep on working.

But I'm crossing my fingers that he's one of the key people and gets the bonus!

 

[sgeeeee]

One other word of caution about the promised bonus to key players: Just because someone is key to the current operation is no indication that they will be considered such by the new regime. If the new regime has a powerful political player in a similar role, the aquired new talent loses out. Staying is very risky. It could work out, but as a veteran of several acquisitions (on both sides) I would never bet on it.

Good luck.

 

[eridanus]

I don't know if the "con" for the new job is truly a con. If he has the personality for a start-up, a new branch can be very exciting.

I agree with the others about the $100k payout. If it's not on paper, forget it. A silver parachute is no good if it's not packed.

 

[SteveR]

Also, what happens if the current management team leaves before the bonus is paid out?  Who in the new management team would remember the promise of the $100k bonus?  


Ole Hillbilly sayin'

If it ain't been rit, it ain't a gonna happen.  

 

[WanderALot]

When my previous company shutdown the local facility they promised some of the key engineers a large bonus for staying 4 months till the close. I was lucky enough to convince my current employer (during the interview) that I won't be able to join till I can get the bonus. One of my old coworkers was able to convince his new employer to make up the bonus money that he would be losing if he quit work before the 4 months expired. They paid him the entire bonus amount (> $20K) to get him to join

So it's a stretch for such a large amount, but maybe he can explain the situation to the new employer and see what they will be able to do to sweeten the pot?

BTW, our bonuses were all in writing and no one who stayed got screwed.

 

[Calgary_Girl]

Hi everyone! Sorry I haven't had a chance to respond to anyone lately but the munchkin has been keeping me pretty busy...

Just a quick update that DH decided to not take the new job offer (for a few good reasons) and he's still with the same employer. His company WAS bought by another company in the past couple of weeks but it looks like everything may work out like DH wanted afterall (including the bonus ). Also, it looks like the office is staying open and no one is getting laid off