LOL keep us updated!
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I think you should email them all a Harvard Business Review article about key person dependency risk.
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Heh. Might need to send it to my company, too. As of this past summer, there were four people in my role responsible for customers in North America. As of now, two are on leave, and one changed roles. In addition to covering for the loss and absences, Iāll be onboarding a replacement for the one who changed roles starting next month, and my new boss.
Doesnāt seem like a great idea for them not to promote you at this time and risk pissing you off. Are they clueless to whatās going to happen if you leave?
One thing I will say about my company is that they are constantly evaluating who the real talent is, and making efforts to keep them with us by constantly evaluating the market rate and keeping them ahead of it, and also by keeping them on a fast path for steady promotions.
Well, I have a rather robust golden handcuff up until March 1 of next year: stonk stuff to the tune of perhaps double my salary thatās vesting then, and I figure they know it. So, Iām not in the worldās greatest position to complain, but Iāve got a ton of shit on my back right now.
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In my experience, senior managers a) vastly overestimate their own importance, b) vastly underestimate the importance of actual producers and c) are delusional about the producersā alternatives.
Iāve seen the movie a million times where a 5-10% pay increase would make a top performer happy, but no, captain jackass has to hold the line on expenses. Then the person quits, the boss acts personally offended, then they hire someone at 150% of the prior guyās salary plus the fee to the recruiter.
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Update: just received a calendar invite for a Monday lunch with the president and VP. Havenāt heard a peep from my boss or manager still. I assume they are going to do their best to convince me to stay but Iāve already did this once with them and ended up staying for an extra 2 years. Not going to burn another bridge by rescinding my acceptance. Canāt wait to see how this goes though.
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Iāve seen it a lot as well at different companies. But not my current place. We are constantly adjusting salary to market and Iāve been allowed to give good sized retention bonuses to anybody I deem as mission critical.
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Are you hiring / looking to adopt?
Kidding, a little. I hear my company does a good job keeping people. Weāll find out in the next 2 months
What field are you in?
Pharma / Drug Development
March is pretty soon. You could start looking now, likely find something in Q1, get a sign on bonus while delaying your start date to post March 1, and make an absolute killing while smiling on your way out the door. I would be pretty worried about it if I was your boss.
Interesting. I guess this is probably industry specific.
In some industries the best performer is worth 20 times the worst performers. In others itās like 1.5
I really wish they would have just let me leave. I have a severe sense of āwhat ifā that is hard to suppress. I put my resignation in 2.5 years ago and they matched the other offer which I was fine with. It was a consulting firm so I didnāt really give a shit about burning that bridge. Iāve had multiple conversations with my boss and HR about wanting to grow out of my role over that time to absolutely no avail.
Now I have this lunch Friday where I know they are going to try and offer me money and a path forward to a bigger role but I already accepted the offer and really donāt want to burn the bridge with the new company who is an industry leader (small industry as well). I hope they just try and match the offer which would be an easy no thank you. I wish the lunch would have been today so I didnāt have to spend all weekend with it on my mind. First world problems, I know, but career decisions are stressful.
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If they just match, I think youāve got an easy decision to move on. If they throw a bunch more money at you it just raises the question of why they hadnāt paid you more sooner.
Donāt burn the bridge, you can always go back in a few years if it makes sense for your career. Boomerangs are pretty common. But whatever they do, I think youāre safe moving on.
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āI appreciate the opportunity and value the relationships Iāve built here. I believe this transition is whatās best for me and my family.ā
No use getting into an extended back and forth. You told them what you needed, they didnāt provide it, youāre voting with your feet. Happens every day.
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Iāve been in your shoes. Took an offer a few years ago, then rescinded after my existing company made what I viewed as a big counter offer. The whole thing was exceedingly stressful, but I just couldnāt ignore the significant $ differential for staying vs. leaving. Am I blackballed from the new company? Who knows, maybe. But maybe in 10 years itās all different people and nobody will know or care.
At the end of the day I just went with my gut and what I felt was right in that moment. I was laid off during COVID along with many others - would I have been kept if I didnāt take a counter-offer? Who knows. But the role I rescinded was also laid off, so I look back on the additional comp I received in that ~2 year period and Iām glad I got it.
While it obviously happens, I find the idea that youād be treated differently, or blackballed, etc., for rescinding or taking a counter-offer to be ridiculous. Companies do whatās in their best interest 100% of the time. To act shocked and offended when an employee does is insulting.
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Once I accept an offer Iām gone. If I want to give my company a chance to counter, I would do it before accepting the offer with the new company, although I guess that opens some minor risk that the offer gets pulled before accepting but after giving notice.
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On this topic, had final interview for Europe job today. Went alright, not sure it was a home run. But the existing startup offer has been out there for a week now and they want an answer today. I am going to counter and try to get a little more time and money, will have to give an answer before I hear back from Europe.
I will try and set a start date 3-4 weeks out, and if Europe comes through and was a clear winner, I would rescind. I feel terrible and stressed about it, but not sure what else to do at this point.
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I hope the Europe offer works out for you. If I had the chance to go work abroad for a couple years I would snap take it.