Yet Another Job Thread ? current job higher basepay

[Maximus96]

Went to an interview last Friday and got an offer email today. The new company is paying about $0.50 less per hour, but has a 5% guaranteed pension contribution and a profit sharing that has been about 7% the last few years according to their recruiting manager. After factoring these in the equivalent hourly rate is about $3 more than what I make now. The new company is also a bit closer and more vacation time. However seeing the lower hr rate got me bummed. I do want to make the switch, but I want a higher guaranteed $/hr before all the potential profit and bonus?what would you guys do? Yes I?m greedy because I have a baby to feed and a mortgage to pay.

 

[chambersc]

Since there is no obligation, by the time you retire (assuming you do) with this company, for the company to maintain its obligation to your pention, I wouldn't calculate that into your net pay.

I would like to see something that pays more in there here and now since you "have a baby to feed and a mortgage to pay"

 

[Ramma2]

Counter with 1$ more per hour.

 

[Maximus96]

I?m actually thinking of asking for $2/hr more.

The 5% of W2 is guaranteed, about 7% (average of the last few years) is also added in as profit sharing and $200-$2500 as corporate year-end bonus... but i don't get to participate in this until after 1 year of employment. Then vested at 20% a year so I?d have to stay for 6 year to get all of it.

edit: what is the best way to word a $2/hr counter? i want to use my review and pay adjust as leverage coming up in about a month.

 

[lokiju]

I wouldn't go with counting on a bonus.

 

[Maximus96]

Originally posted by: lokiju
I wouldn't go with counting on a bonus.

my thoughts exactly. I do want to switch because I no longer care to work at my current employer. but i'm not too fond of taking a slight pay cut with a potential of bonus and profit sharing... i also don't want to scare them off neither...hence i call onto the opinions of the ATOT'ers.

 

[ebaycj]

$0.50/hr = $1000 /yr.

If $1000/yr is more than 7% of your salary, I feel sorry for you. If not, the choice is clear.


EDIT: As others have said, counter with more $$. In order to determine a decent counteroffer rate, we would need to know what the job entails, as well as how much EXACTLY you will be making (before counteroffer).

 

[Maximus96]

Originally posted by: ebaycj
$0.50/hr = $1000 /yr.

If $1000/yr is more than 7% of your salary, I feel sorry for you. If not, the choice is clear.


EDIT: As others have said, counter with more $$. In order to determine a decent counteroffer rate, we would need to know what the job entails, as well as how much EXACTLY you will be making (before counteroffer).

$0.50 works out to be 1.7% of the $28.45 I make now. The new company offered $28.0. I want to counter with $30. This is for a civil engineering position in the bay area with 4 years of work experience but without a professional engineering license.


Here?s what I want to send as counter:

Thank you very much for your email and offer. I would love to accept
and take on employment at so-and-so. However it is difficult for me to agree
with the hourly wage as it is lower than my current pay. Furthermore,
my performance review and salary adjustment is due at the one year
anniversary of September 06 with my current employer. I understand
there is the potential of bonus and profit sharing at so-and-so, but given
their definition I cannot include them as a guaranteed compensation
for comparison against my current earnings. I'd like to counter-offer
with a wage of $30 per hour

 

[ATLien247]

You also might want to take into consideration the historical frequency/amounts of pay raises, be they COLA or otherwise.

 

[Maximus96]

Originally posted by: ATLien247
You also might want to take into consideration the historical frequency/amounts of pay raises, be they COLA or otherwise.

i don't know the amount at the new place, but its a yearly review/compensation adjustment.

 

[BlueWeasel]

Since you've got 4 years experience post graduation, that means you're probably taking the PE in October? You might use that as leverage for the higher pay rate.

Also, do you have any idea what your billable rate would be at the new company? Generally, for engineering services, the billable rate is 3-4x (or more) of the hourly pay rate.

 

[Maximus96]

Originally posted by: BlueWeasel
Since you've got 4 years experience post graduation, that means you're probably taking the PE in October? You might use that as leverage for the higher pay rate.

Also, do you have any idea what your billable rate would be at the new company? Generally, for engineering services, the billable rate is 3-4x (or more) of the hourly pay rate.

i actually took the PE a year and half ago and didn't pass. i'll take it again next April as my wife is taking it this Oct and we don't have time to both study with the baby around.

at my current job they are billing me out at 93.5/hr.

 

[Maximus96]

i'm actually thinking of asking for 10% over what I make now. bump, could use more opinions

 

[chambersc]

Originally posted by: Maximus96
i'm actually thinking of asking for 10% over what I make now. bump, could use more opinions

If they're billing you out at 93.5 an hour, $30 in the bay area shouldn't be unreasonable. You do have the experience to back it up.