Job security and $$ - Chicagoland Sportbikes
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View Poll Results: What would it take?
Hell no, it's bad out there I am staying where it is safe. 4 10.00%
I would leave for the same $$ or even take a small hit for a chance to move up. 9 22.50%
I would do it for 10K more. 5 12.50%
Gonna take at least 15K+. 22 55.00%
Voters: 40. You may not vote on this poll

 
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post #1 of 22 (permalink) Old 08-30-2010, 08:51 AM Thread Starter
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Job security and $$

Had an interesting conversation this weekend about how much would it take to leave your current job for another. Noticed a trend that people are way less likely to leave in this unstable market. Not surprising I guess.

So what would it take you, all things being equal.
The job you have is very secure but only pays so-so and not much room to movement up.... the new job is about 20% further but is basically the same job as your doing now and may have room to move up.
So how much would it take financially to get you to leave your lower paying secure job to start new at a different place fresh.

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post #2 of 22 (permalink) Old 08-30-2010, 08:54 AM
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This may not be relate-able, but I left my last job for Less money, because this job offers far more future potential

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post #3 of 22 (permalink) Old 08-30-2010, 08:59 AM
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At my current salary, I'd say $10k is right around where my threshold is for jumping ship. Of course, you have to way in all the other benefits of the job, but one of the biggest at this point is job security, like mentioned in your post.

I actually did just this a few months ago because I was fed up at my current job. Came in with another job offer for quite a bit more money expecting to put in my 2 weeks. Well, I'm still here as they matched the offer. Did not see that one coming.

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post #4 of 22 (permalink) Old 08-30-2010, 09:07 AM
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Same amount maybe a lil more $$$ and better hours is all it would take for me. I loathe my current job but after 10yrs it's hard to go knowing I am giving up 31 days of vacation. But I would take that hit to get normal hours and the same (maybe a lil more) $$$ with growth potential

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post #5 of 22 (permalink) Old 08-30-2010, 09:15 AM
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First...... 10K..... depends on what you make..... maybe say 15% +.



Second, security is an illusion..... most companies manage to the balance sheet today
if you are valubale and they are doing well great.... but you could be gone in a heartbeat.

if you have been with a company for a long time that is financially sound, business is good
and you are well liked and well known I would call that "stable".

Moving to a company regardless of opportunity for advancement and money.... if
it is not a financailly stable company with growing revenue and opportunities for
revenue would be a risky move regardless of personal gain.

Further..... if the industry that you are in / skillset that you have is in demand then
a move to a moderatly stable company for a salary bump might be a good move ....even if they fold you can just move on to the next position and negotiate from
the bump you got in the last move.


Lots of variables here....

So how much do you know about the stability of the two companies ?

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post #6 of 22 (permalink) Old 08-30-2010, 09:18 AM Thread Starter
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Yep, perks always have to be considered. I am 5 mins from work, can dress really casual, and the hrs are great.
Downside: no room to move up, financially maxed out with exception of tiny raises, no bonuses, Privately held company with an older owner and no heir to the throne, money could be a lot better for the amount of responsibility I have.
Just waiting for the right opportunity to come along.......
Blarney, no opportunities yet, just thinking out loud.

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post #7 of 22 (permalink) Old 08-30-2010, 09:19 AM
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thats a tough one, right now im going with the plan of keeping my head down in trade for the stability i have now

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post #8 of 22 (permalink) Old 08-30-2010, 09:34 AM
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So to tag on to this thread a bit. Say you make a salary but you have the potential to bonus up to 15% every year depending on the companies year end profit. Thus far have made a bonus no less then 8% for the past 5 years with the exception of 2009 because of austerity.

How would you factor this into your total compensation for when you apply to other jobs?

Ian
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post #9 of 22 (permalink) Old 08-30-2010, 09:38 AM
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Quote:
Originally Posted by MM Racing View Post
So to tag on to this thread a bit. Say you make a salary but you have the potential to bonus up to 15% every year depending on the companies year end profit. Thus far have made a bonus no less then 8% for the past 5 years with the exception of 2009 because of austerity.

How would you factor this into your total compensation for when you apply to other jobs?
My company has a similar bonus structure and coincidentally, about the same payout over the last 4 years. I decided not to take it into consideration when looking at other jobs and treat it only as a true bonus, mainly because I'd never actually gotten one and know it doesn't have a good track record over the past decade.

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post #10 of 22 (permalink) Old 08-30-2010, 10:24 AM
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Quote:
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So to tag on to this thread a bit. Say you make a salary but you have the potential to bonus up to 15% every year depending on the companies year end profit. Thus far have made a bonus no less then 8% for the past 5 years with the exception of 2009 because of austerity.

How would you factor this into your total compensation for when you apply to other jobs?


Add the 15% to your total compensation expectation.


You make what you make..... not what your base is.


So..... a job that is

50K base and 50K target commission.
85K base and 15 K bonus target.
75K base and 20K commission target and 5 K bonus target.


These are all relatively equal....... obviously with different risks.


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post #11 of 22 (permalink) Old 08-30-2010, 10:34 AM
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post #12 of 22 (permalink) Old 08-30-2010, 10:35 AM
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Quote:
Originally Posted by under200 View Post
Had an interesting conversation this weekend about how much would it take to leave your current job for another. Noticed a trend that people are way less likely to leave in this unstable market. Not surprising I guess.

So what would it take you, all things being equal.
The job you have is very secure but only pays so-so and not much room to movement up.... the new job is about 20% further but is basically the same job as your doing now and may have room to move up.
So how much would it take financially to get you to leave your lower paying secure job to start new at a different place fresh.
Quote:
Originally Posted by BLARNEY View Post
... security is an illusion..... most companies manage to the balance sheet today
if you are valubale and they are doing well great.... but you could be gone in a heartbeat.

if you have been with a company for a long time that is financially sound, business is good
and you are well liked and well known I would call that "stable".

Moving to a company regardless of opportunity for advancement and money.... if
it is not a financailly stable company with growing revenue and opportunities for
revenue would be a risky move regardless of personal gain.

Further..... if the industry that you are in / skillset that you have is in demand then
a move to a moderatly stable company for a salary bump might be a good move ....even if they fold you can just move on to the next position and negotiate from
the bump you got in the last move.


Lots of variables here....

So how much do you know about the stability of the two companies ?

I'm really with Tom on this. What is the status of the potential new employer? Are their sales stable or growing? Do they have working capital in the bank to survive any temporary downturn? What's the management style? Are they short term maniacs (Day, week, month, quarter) or mid to longer term thinkers (quarter, year, multi-year)? What's the work environment like?

All these are at least as important, if not more important, than how much more $ you will make for the long term stability and enjoyment of a job.

Craig
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post #13 of 22 (permalink) Old 08-30-2010, 10:38 AM
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Quote:
Originally Posted by under200 View Post
Yep, perks always have to be considered. I am 5 mins from work, can dress really casual, and the hrs are great.
Downside: no room to move up, financially maxed out with exception of tiny raises, no bonuses, Privately held company with an older owner and no heir to the throne, money could be a lot better for the amount of responsibility I have.
Just waiting for the right opportunity to come along.......
Blarney, no opportunities yet, just thinking out loud.
I'm in the same boat as you...I make really good money, live less than 3 miles from work, jeans and a t-shirt daily, (except when clients come in) I can come and go as I please, unlimited vacation days, have a job for life unless I screw up big and a lot of good eye candy.

But, I'm third in command around here and the people above me aren't going any where soon. I haven't got a raise in over 3 years or my yearly bonuses in 5 years and according to the owner, it looks like raises are cut indefinitely.

So, where do I go from here? Insurance, cost of living and just overall costs of everything in general go up every year. This means the longer I stay here and work for the same money the less I make. For me, it would take at lease $15k+ to move from this place, but it will get to the point I don't have a choice if this trend continues.
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post #14 of 22 (permalink) Old 08-30-2010, 10:47 AM
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It would take at least double.

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post #15 of 22 (permalink) Old 08-30-2010, 11:03 AM
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post #16 of 22 (permalink) Old 08-30-2010, 11:17 AM
 
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It would take at least double.
+1

it's nice being at the top. the pay can increase as needed and having the freedom and flexibility to change and adapt is priceless. the self insurance pool could be done w/o but it's the price you pay to play in the farming, manufacturing and distribution biz.
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post #17 of 22 (permalink) Old 08-30-2010, 11:48 AM
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I'm with Blarney, It would take more than a 25% bump for me to consider a move. And it would have to have a contract with a minimum term, and a minimum 90 day notice (and payout) clause.

It all depends on what you make, and what your limitations and your current job limitations are.

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post #18 of 22 (permalink) Old 08-30-2010, 12:19 PM
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It wouldn't take very much for me. I heard White Castle might have an opening on fries pretty soon.


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post #19 of 22 (permalink) Old 08-30-2010, 05:51 PM
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post #20 of 22 (permalink) Old 08-30-2010, 06:02 PM
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I'm looking at a potential move right now that would mean up to a 30% cut in pay. It's a dream job though, and in a cheaper area, so it might happen.....
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post #21 of 22 (permalink) Old 08-30-2010, 07:40 PM
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Quote:
Originally Posted by pjrocco View Post
So, where do I go from here? Insurance, cost of living and just overall costs of everything in general go up every year. This means the longer I stay here and work for the same money the less I make. For me, it would take at lease $15k+ to move from this place, but it will get to the point I don't have a choice if this trend continues.
No bonuses/raises here at my company either... never thought of it the way you just put it though.

Does it count that I got a 20% raise by trying to leave the company (they matched the offer).

But yearly though, not even 1%, we had to take furlough days this year so I think I'm actually -4% this year!

edit: just wanted to add, I wear shorts/tshirt to work, and have about 60 vaca/sick days a year.
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post #22 of 22 (permalink) Old 08-31-2010, 01:04 AM
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No bonuses/raises here at my company either... never thought of it the way you just put it though.

Does it count that I got a 20% raise by trying to leave the company (they matched the offer).

But yearly though, not even 1%, we had to take furlough days this year so I think I'm actually -4% this year!

edit: just wanted to add, I wear shorts/tshirt to work, and have about 60 vaca/sick days a year.
Yes it counts! You did well with the 20%. Most of us who are not covered by union contracts are getting nada, and if you are in sales, your commissions are likely down, resulting in a decrease in income.

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