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 Post subject: Job (search) update
PostPosted: Wed Mar 28, 2018 2:35 pm 
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Location: In Texas of course!
Well, I got a job offer from a company. A former co-worker is the CFO.They are a start-up. He told me they couldn't meet my current salary, but could get close. They got close (about $500/month less) to my current base. However, I guess I never realized how "generous" my current employer was regarding our healthcare plan. While the company that made me the offer has a similar plan, to get the same level of coverage (deductibles, co-pays, max out of pocket) I would be paying over $1,300 more a month. I looked at "what if we used my wife's insurance instead". It was $980 a month more. The best I could do is have me on my new company's plan, and my wife and kids on her plan. That would make the increase only $560 a month. So a net $1,160/month pay cut. Ouch! I'd really like to work there. I know the CEO, CAO, CFO, and I'd be doing stuff I like and the upside could be good. But given that I would get a large chunk of cash by sticking around here for 4-5 months (if there was some kind of agreement :wink: ) I don't think I can walk away from that potential chunk of cash and give up $1,000 a month to boot. I'll have to say "no".

I'm waiting to hear from two more companies about an interview. Fingers crossed.

I would like to "walk away" from the potential chunk of cash, just on principle. Our company's standard severance policy would give me 1 week for every year of employment, or about 12 weeks. The potential chunk of cash is less than that. "You're so valuable well pay you less to stay longer than if we asked you to leave sooner." Huh?

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 Post subject: Re: Job (search) update
PostPosted: Wed Mar 28, 2018 2:58 pm 
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You know your finances and your situation better than anyone, but if I woke up in your shoes, I would take the job offer and go to the new company. A clean break, if you will.

You are 60 YO and if you want to work for the new company take it, these things don't just grow on trees.

FWIW-anyway.


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 Post subject: Re: Job (search) update
PostPosted: Wed Mar 28, 2018 3:53 pm 
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Location: Oro Valley, Arizona
Spock wrote:
You know your finances and your situation better than anyone, but if I woke up in your shoes, I would take the job offer and go to the new company. A clean break, if you will.

You are 60 YO and if you want to work for the new company take it, these things don't just grow on trees.

FWIW-anyway.

REC!

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- Douglas Adams (1952 - 2001)

Si fractum non sit, noli id reficere.

Teach a child to be polite and courteous in the home and, when he grows up, he'll never be able to drive in New Jersey.


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 Post subject: Re: Job (search) update
PostPosted: Wed Mar 28, 2018 3:57 pm 
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Location: In Texas of course!
Spock wrote:
You are 60 YO


No I'm not! Not yet. I've got in excess of 222,000 minutes to go.

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 Post subject: Re: Job (search) update
PostPosted: Thu May 03, 2018 8:35 pm 
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Location: In Texas of course!
Looks like two division CFO's may be competing for my services. One of the CFO's I personally know and have worked with before. The other's division president I've worked with before (he likes me). One job I'd stay in Houston, but travel a lot. The other would be in Denver where my 1st grandchild will show up in July.

No offers, just interviews, but promising. I still have an open offer locally but for less, but still good, money. And I still don't have a feel for if my new company has interest in keeping me beyond the 90 days. The two CFO's know of my incentive I may have to stick around 90 days after the transactions completes. Hopefully they will sweeten any offer with a signing bonus to offset my 90 day incentive so I will go to work for them before September. I don't really want to stick around 90 days.

What would really be sweet, but these things don't happen to me, though I know people who have had it happen to them, is I get an offer with signing bonus meant to offset my 90 day incentive so leave early, then that next day my new company lets me know they are done with me and I'm released with the incentive. Possible, but not likely.

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 Post subject: Re: Job (search) update
PostPosted: Fri May 04, 2018 4:53 am 
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Location: mired in the bureaucracy
BackInTex wrote:
Looks like two division CFO's may be competing for my services. One of the CFO's I personally know and have worked with before. The other's division president I've worked with before (he likes me). One job I'd stay in Houston, but travel a lot. The other would be in Denver where my 1st grandchild will show up in July.

No offers, just interviews, but promising. I still have an open offer locally but for less, but still good, money. And I still don't have a feel for if my new company has interest in keeping me beyond the 90 days. The two CFO's know of my incentive I may have to stick around 90 days after the transactions completes. Hopefully they will sweeten any offer with a signing bonus to offset my 90 day incentive so I will go to work for them before September. I don't really want to stick around 90 days.

What would really be sweet, but these things don't happen to me, though I know people who have had it happen to them, is I get an offer with signing bonus meant to offset my 90 day incentive so leave early, then that next day my new company lets me know they are done with me and I'm released with the incentive. Possible, but not likely.

CEO death match!!! :mrgreen:

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 Post subject: Re: Job (search) update
PostPosted: Fri May 04, 2018 7:23 am 
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Location: Oro Valley, Arizona
Good luck! (Or break a keyboard, whatever fits.)

I just had to transition from C2C contractor to regular employee or lose my job. Now I'm going to leave for a new contract job with IBM again.

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I may not have gone where I intended to go, but I think I have ended up where I needed to be.
- Douglas Adams (1952 - 2001)

Si fractum non sit, noli id reficere.

Teach a child to be polite and courteous in the home and, when he grows up, he'll never be able to drive in New Jersey.


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 Post subject: Re: Job (search) update
PostPosted: Fri May 04, 2018 7:59 am 
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Joined: Mon Oct 08, 2007 11:21 pm
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Job offers don't grow on trees, especially when you hit 60.

At this point, you probably should be thinking about what your retirement strategy should be and how close you will get to what you want in the new situation versus waiting things out. Two things to keep in mind though are, first, start-ups tend to have a high failure rate, and second, there's no law preventing you from keeping an eye out for new openings while you are on any job.

For what it's worth, after my last job with the company that televised trials fell through when they cut back, I wondered if I would ever get a decent job again, but I landed on my feet here at the lottery and recently had my position upgraded with almost a 25% raise in the process. So, good things do happen sometimes.

Good luck (I don't know if that's bad luck to say in the job context but, if so, break a resume)

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