Just as soon as I publish a post about how staying with my current employer makes the most financial sense, along comes a job offer to throw it all in doubt. The offer was a complete surprise and not a path I previously considered.
It all started with a call from a former co-worker, his company has won a piece of the next phase of my current project. He was looking for information which isn’t mine to provide, so I walked over to our client for advice on how to handle his request. The conversation went something like this:
Me: Hey P, remember S from a few projects ago? He is on one of the teams that won Phase B and is looking for info, what do I do?
P: Speaking of Phase B, what are your plans?
Me: I don’t have any, my company didn’t win and I’m not interested in working for the ones that did.
P: Would you be interested in working for us (the client)?
Me: Well there are financial reasons for not leaving my current company, I have a lot of unvested stock to consider.
P: We could find ways to make that up to you, signing bonuses, better pay etc. What do you make now?
Me: $X an hour.
P: You’re underpaid and underappreciated, let’s meet and see what it would take to have you come work for us.
So we’re going to get together in the next week or two to discuss terms and what would be involved. I wouldn’t start for a few months because as the client, they also have an interest in me finishing up the current job first. One drawback I see is the job itself, I would serve as a coordinator and overseer rather than an engineer. I happen to like the design and production side of the business, I find management rather dull.
As for the unvested money I would lose, provided it is made up for by the new job I would probably come out ahead. One problem with an ESOP is that money is tied to the company, if the company fails that money disappears. With the way our plan is set up, I cannot remove my money until I reach retirement age, which is 30 years away. Having $50,000 in money I can control is better than $50,000 in funds that I cannot move or touch. I will let you guys know how the meeting goes and whether I will be leaving for Greener (ha ha) pastures.
Feed: pfblogs.org
PF Blogroll
Posts
6 comments:
How exciting! Keeping fingers crossed that you get the best possible solution and work environment.
wow! that's thrilling! Good luck!
Just remember that negotiation is your friend! If you're going to switch and lose that un-vested money, make it majorly worth your while.
How exciting! Good luck! It is so great to have options
It never hurts to have options. And options only come to those who are liked by others and who are good. So it is a good problem to have!
Ohhh I really hope they match your unvested options with cash! That would be way better. And that's a particularly stringent set of rules guiding your ESOP withdrawal, as well. I'd be awfully nervous about that. Not that I don't operate on a higher level of neurosis than normal folk... :)
Post a Comment