How much pay increase would it take for you to leave your company?

[BingerFang]

I was recently approached by a friendly competitor and was able to connect with 5 members on the team including upper managment. Solid group of guys and the company is in growth mode which makes it exciting.

My salary would increase 60% and my overall pay with bonus would go up about 33% on average each year. If I was in the latter stages of my career I probably wouldn’t be considering it so heavily but I’m 31 with plenty of runway left.

How much pay increase would it take for you to leave your current company?

 

[DMF]

I would jump!

 

[HNL2LHC]

Currently at Ludicrous pay….Not willing to make any changes unless it is to “Big Balls” Level. In my younger years had hopes of “Harry Bolz” level. But that might have been a bit optimistic. Best of luck you and yoRe career. I look forward to mentoring the next generation to achieve more than I had hoped. Anything is possible…..

 

[Xring01]

The question needs to be addressed to those in different age brackets and experience levels.

With out that, its almost impossible to quantify.

If you dig into the archives… I have turned downed major titles, sign on bonus’s, and great pay increases…

Everyones situation is different, which is why there is no one answer to cover all the scenarios.

When you hit a certain level… closer to retirement… then a great team, and clear goals, with little stress, overcomes alot of $$$.

 

[oldman]

I was recently approached by a friendly competitor and was able to connect with 5 members on the team including upper managment. Solid group of guys and the company is in growth mode which makes it exciting.

My salary would increase 60% and my overall pay with bonus would go up about 33% on average each year. If I was in the latter stages of my career I probably wouldn’t be considering it so heavily but I’m 31 with plenty of runway left.

How much pay increase would it take for you to leave your current company?

Outright pay is one thing, how is the rest of the package, retirement, profit sharing, investment matching, and healthcare.
if all things are equal, and it is a solid move with stability, do it.

and you are young, if it's a mistake, you have years to make it up.
But I'm retired, so my advice may be shit.

 

[Angler]

Self employed for the last 26 years.
I would never work for anyone.

 

[BingerFang]

Outright pay is one thing, how is the rest of the package, retirement, profit sharing, investment matching, and healthcare.
if all things are equal, and it is a solid move with stability, do it.

and you are young, if it's a mistake, you have years to make it up.
But I'm retired, so my advice may be shit.

Rest of the package is the same. Full benefits, 401k with 7% match (current company is 5%), with profit sharing.

Biggest downside would be brand recognition. My current company has a very large presence in the west coast and the new company is trying to make a name for themselves out here.

 

[BingerFang]

Self employed for the last 26 years.
I would never work for anyone.

I wish I could. Too much regulation in the industry I enjoy the most.

 

[gqchris]

Being older, 50% is a damn good bump and would make even my chicken little ass move on.

With that said, my w2 job treats me well, been with them for 22 years, not the highest pay but I feel secure. So my runway is pretty much at its end. I just focus on my side hustle now.

 

[Cray Paper]

20 years ago I would have recommended sticking it out with the company your working for and trusting it will work out. I am 55 YO know and still have that mind set and will ride it out with my current employer until I retire. But I say this with being let go after 25 years of dedicated service to a company. I was 48 YO at the time. I have been much more upfront with my current employer about what I want from my career, what projects they assign me too etc.

At your age, and seeing the turnover and pay increases for people your age in the last 15 years, I would say go for it as long as it builds your resume and expands your skill set. Loyalty in employers and employees doesn't really exist anymore in my experience. Take the money as long as your resume is advanced so if shit goes sideways you will have a leg up on others looking for the same opportunity.

 

[c_land]

Get it in writing and present it to your current employer. See if they will match.

If one on my team had a better offer, I would appreciate the chance to keep any one of them by matching the competing offer. Especially if it was just something that landed in their lap.

 

[YeahYeah01]

Get it in writing and present it to your current employer. See if they will match.

If one on my team had a better offer, I would appreciate the chance to keep any one of them by matching the competing offer. Especially if it was just something that landed in their lap.

Somewhat agree but honestly if I'm worth it tomorrow, then I'm worth it today.

I try hard to make sure I know what the industry is doing pay wise and pay my guys appropriately, I'm not the owner but have the ability to make decisions within reason.

Now for management lever guys, if the base is not competitive in the industry then the owners is going to eventually have a problem. You have to match what's happening or do better with benefits, bonuses, things like that. My position has a decent base but I know it's a bit lower then then other companies, but my bonus is tied to overall growth with no caps, so the harder I work and more we so the more I can make. So you pair that with good culture and freedom. It would probably take at least 80% of base with similar structures to make me consider it.

 

[whiteworks]

Wait, you guys are getting paid?

 

[Xring01]

Get it in writing and present it to your current employer. See if they will match.

If one on my team had a better offer, I would appreciate the chance to keep any one of them by matching the competing offer. Especially if it was just something that landed in their lap.

From some one who has been there done that.

Can you trust HR?

Before you answer…
HR gets their paychecks from whom….

They can and will delay stall, and create chaos, to prevent you from…. Something that may go against the corp agenda.

Because, they are paid to promote the corp agenda…

Please ask me how I know.

 

[monkeyswrench]

I'm half-ass self employed.
I'd bail on my boss for a breakfast burrito

In all seriousness, the knowledge you have in your industry, as well as of yourself, determines the answer. What are the risks involved? New company builds huge, or craters? What is the timeliness of either? What new stresses would be on you, and can you handle the at risk time comfortably?

 

[Dalton]

honestly, double.

 

[white tortilla]

I was recently approached by a friendly competitor and was able to connect with 5 members on the team including upper managment. Solid group of guys and the company is in growth mode which makes it exciting.

My salary would increase 60% and my overall pay with bonus would go up about 33% on average each year. If I was in the latter stages of my career I probably wouldn’t be considering it so heavily but I’m 31 with plenty of runway left.

How much pay increase would it take for you to leave your current company?

@BingerFang i know we crossed paths back in the day working thunder down under together in Reno. It’s a tough industry. Always promises of better base pay and better benefits, more tips. Diffferent new shows, don’t trust those showgirl producers and thier empty promises.

 

[Willie B]

… Would Social Security be considered a company…

 

[HTTP404]

You forgot the "I'm broke and unemployed, I'll take anything" option.

 

[TPC]

… Would Social Security be considered a company…

Trump about to propose no income tax on it,, that'll be a HUGE raise.

 

[BHC Vic]

Double or nothing. I’ve turned down quite a few offers at 200k. That’s probably not a lot to most and I agree not worth me jumping ship for. I have 18 years into my pension. It would take quite a bit for me to walk. The problem is my bosses also know that and do just enough to keep me quite.

 

[BHC Vic]

20 years ago I would have recommended sticking it out with the company your working for and trusting it will work out. I am 55 YO know and still have that mind set and will ride it out with my current employer until I retire. But I say this with being let go after 25 years of dedicated service to a company. I was 48 YO at the time. I have been much more upfront with my current employer about what I want from my career, what projects they assign me too etc.

At your age, and seeing the turnover and pay increases for people your age in the last 15 years, I would say go for it as long as it builds your resume and expands your skill set. Loyalty in employers and employees doesn't really exist anymore in my experience. Take the money as long as your resume is advanced so if shit goes sideways you will have a leg up on others looking for the same opportunity.

You’re the guy that said I wouldn’t make it as instructor. Then there was your personal life. I’m not sure you’re the best to give advice on life…

 

[BHC Vic]

Get it in writing and present it to your current employer. See if they will match.

If one on my team had a better offer, I would appreciate the chance to keep any one of them by matching the competing offer. Especially if it was just something that landed in their lap.

I like this and wish more bosses were like that. Mine would say if you’re making threats you know where the door is

 

[BHC Vic]

From some one who has been there done that.

Can you trust HR?

Before you answer…
HR gets their paychecks from whom….

They can and will delay stall, and create chaos, to prevent you from…. Something that may go against the corp agenda.

Because, they are paid to promote the corp agenda…

Please ask me how I know.

So much truth in this. HR works for my boss. I learned that the hard way

 

[boatpi]

I can’t, my wife is CEO, I am just VP. She will not even fire me.

 

[CLdrinker]

When I leave in 2028 my pay cut will be around 30%

 

[ChiliPepperGarage]

I'm old and retired. I don't think there is any amount of money that could get me to go back to work. Maybe a million a year to work at one of the local brothels making sure the girls know what they are doing.

 

[Runs2rch]

Double or nothing. I’ve turned down quite a few offers at 200k. That’s probably not a lot to most and I agree not worth me jumping ship for. I have 18 years into my pension. It would take quite a bit for me to walk. The problem is my bosses also know that and do just enough to keep me quite.

LAM!!!!

 

[Runs2rch]

I'm old and retired. I don't think there is any amount of money that could get me to go back to work. Maybe a million a year to work at one of the local brothels making sure the girls know what they are doing.

Quality control! Definitely need to make sure the product is good haha

 

[Dog]

$1.00

 

[JFMFG]

Self employed for the last 26 years.
I would never work for anyone.

This. There is something to be said about not having to answer to anyone lol. Being self employed has its advantages and dis advantages but shit. I’d prob need to make about a billion a year more to think about switching.

 

[JDKRXW]

My salary would increase 60% and my overall pay with bonus would go up about 33% on average each year. If I was in the latter stages of my career I probably wouldn’t be considering it so heavily but I’m 31 with plenty of runway left.

How much pay increase would it take for you to leave your current company?

The increase you describe here would do it for me.
I've seen study after study saying that those that make a few career jumps over their working lives finish well ahead of those that don't. This includes both $$ and final working positions.
I'm 60+ and been with the same company 35 yrs. I wish I'd looked around more than I did.

 

[zhandfull]

Think OP needs to evaluate the company making the offer very carefully from a financial perspective. Then also what the potential growth could or would offer in future. Lot of companies failing right now. The easy/cheap money has been gone for a while.

The offer sounds great. You’re at the perfect age to take advantage of it. It gets harder to do that as you get older IMO.

Above all don’t burn bridges. Personally I like the thought of offering your current employer an opportunity to retain before jumping.

 

[Singleton]

What else are you getting? More responsibilities, etc.
I always tell my staff your current job needs to help you get to your job 2 moves from now.
The jumps I have made were always 25-30% increases, but they added skills I needed for my future career.
Jumping just for money usually does not last long.

 

[eand28]

I jumped ship a couple years ago for a 40% pay increase. I don't regret it at all and honestly wish I had done it sooner.

 

[OldSchoolBoats]

At 31, I'd say it's a no brainer for that kind of increase. Like Kobe said, "you miss 100% of the shots you don't take"......

 

[c_land]

Somewhat agree but honestly if I'm worth it tomorrow, then I'm worth it today.

I try hard to make sure I know what the industry is doing pay wise and pay my guys appropriately, I'm not the owner but have the ability to make decisions within reason.

Now for management lever guys, if the base is not competitive in the industry then the owners is going to eventually have a problem. You have to match what's happening or do better with benefits, bonuses, things like that. My position has a decent base but I know it's a bit lower then then other companies, but my bonus is tied to overall growth with no caps, so the harder I work and more we so the more I can make. So you pair that with good culture and freedom. It would probably take at least 80% of base with similar structures to make me consider it.

I certainly get that.

Just like anything, hard to make an assessment without knowing all the details.

Professional services industry, in a local market…..

As an employer: compensation is a fast moving target right now. I’m doing my best to remain competitive, but it’s tough to know where is unless you can dedicate time each week to be talking to other firm employees about a taboo topic.

An an employee: I wouldn’t want to burn a single bridge ever. You will be crossing paths with someone in the future, and you’ll likely need something from them. Their last impression can matter.


Again, perspective helps. Tough to make a call without all the particulars.

 

[Xtrmwakeboarder]

What else are you getting? More responsibilities, etc.
I always tell my staff your current job needs to help you get to your job 2 moves from now.
The jumps I have made were always 25-30% increases, but they added skills I needed for my future career.
Jumping just for money usually does not last long.

This.

What’s the long term play? What’s the financial stability of the new company? What’s their strategic plan? What are the benefits? How is the management and ownership? Is there an employment agreement? What % of the bonus do they pay out every year?

Money gets the conversation started but there should be a shit ton more involved to move. I’ve seen a guy with almost 30 years at a company, at the SVP level, jump ship for my last company, for more money, and get termed in a month. It’s brutal out there. Get paid, but be smart.

My number? Probably 20%, but with a ton of other factors lining up.

 

[jetboatperformance]

Self employed for the last 26 years.
I would never work for anyone.

This ^^^^^^^^^^^^^^

 

[farmo83]

Depends on the whole package, although a wise man told me when I was young.

"If misery is constant, take more pay"

 

[Sleek-Jet]

I tell you what, if I could keep my current pay, but step back down in responsibility to my old role I would take it in a heart beat.

 

[Bobby V]

… Would Social Security be considered a company…

Ha!! You just got a 2.5% raise for 2025.

 

[Javajoe]

If they let you go in a month or a year or closed the doors, could you weather the storm? Could you find the same pay you are making now easily with another company? Savings until you do? Things to think about

 

[BingerFang]

What else are you getting? More responsibilities, etc.
I always tell my staff your current job needs to help you get to your job 2 moves from now.
The jumps I have made were always 25-30% increases, but they added skills I needed for my future career.
Jumping just for money usually does not last long.

This is also a big part of the reason why I’m considering the other position. I’m 10 - 15 years too young for management, and my current role is working with companies less than $50mm in revenue, where the new role would be moving up market, working with more sophisticated companies, $50mm and up, which would be great for my career growth and resume in 10-15 years if I wanted to go into management.

At my current job, I have a ton of responsibilities covering over 100 bankers, working alongside them in the office and the field, coaching them how to look for deals. My phone rings non-stop, and I’m constantly driving anywhere in between El Segundo to San Diego, meeting with prospects and clients, and closing business. It’s fucking great!

The new role would be very similar; however, I would only be covering 15 - 20 bankers working on much larger deals instead of working with 100 bankers on much smaller deals.

My current colleagues across the country in my same role at our company are all twice my age, if not 20 years older, and put in 50% of the effort because they’ve been in role for at least 10 years longer than I have. Their kids have graduated or are graduating college, their homes are paid off, and we all make about the same. Except I live in the most expensive part of the country with a now $670k mortgage and a 3-month-old.

I have been on my boss about a salary increase the last year, and his response has always been “You want more, sell more. It’s not management’s fault you choose to live in Southern California.” Even though I couldn’t live anywhere else to cover this territory, lol.

I’m a very loyal person and have never burned a bridge in my life. But my boss is going to lose his shit if I take this opportunity because the markets I currently cover will become a mess. Part of me doesn’t care because I’ve been complaining for over 2 years about what needs to be fixed and have been told “deal with it” on several occasions. I’ve came to the conclusion that corporate bosses that are 60 years old don’t give a fuck about my 31 year old opinion and I get it… lol.

I’ve spoken with management at the new company regarding 5-10 year plans, and these guys are very well seasoned and have been in my shoes as well as the industry for 30+ years. All the answers have been very reassuring, but to be honest, no one actually knows what is going to happen. However, I’m confident and know that if something catastrophic were to happen to this company, I would be fine. I’m currently sitting on about 6 months worth of cash for expenses and plan to keep it that way.

It’s a very hard decision because I enjoy the people I work with now and have proven myself to them over and over again. I’ve done the best I could at vetting the new people I would work with, and it’s been really positive, but nevertheless still a gamble.

 

[zhandfull]

This is also a big part of the reason why I’m considering the other position. I’m 10 - 15 years too young for management, and my current role is working with companies less than $50mm in revenue, where the new role would be moving up market, working with more sophisticated companies, $50mm and up, which would be great for my career growth and resume in 10-15 years if I wanted to go into management.

At my current job, I have a ton of responsibilities covering over 100 bankers, working alongside them in the office and the field, coaching them how to look for deals. My phone rings non-stop, and I’m constantly driving anywhere in between El Segundo to San Diego, meeting with prospects and clients, and closing business. It’s fucking great!

The new role would be very similar; however, I would only be covering 15 - 20 bankers working on much larger deals instead of working with 100 bankers on much smaller deals.

My current colleagues across the country in my same role at our company are all twice my age, if not 20 years older, and put in 50% of the effort because they’ve been in role for at least 10 years longer than I have. Their kids have graduated or are graduating college, their homes are paid off, and we all make about the same. Except I live in the most expensive part of the country with a now $670k mortgage and a 3-month-old.

I have been on my boss about a salary increase the last year, and his response has always been “You want more, sell more. It’s not management’s fault you choose to live in Southern California.” Even though I couldn’t live anywhere else to cover this territory, lol.

I’m a very loyal person and have never burned a bridge in my life. But my boss is going to lose his shit if I take this opportunity because the markets I currently cover will become a mess. Part of me doesn’t care because I’ve been complaining for over 2 years about what needs to be fixed and have been told “deal with it” on several occasions. I’ve came to the conclusion that corporate bosses that are 60 years old don’t give a fuck about my 31 year old opinion and I get it… lol.

I’ve spoken with management at the new company regarding 5-10 year plans, and these guys are very well seasoned and have been in my shoes as well as the industry for 30+ years. All the answers have been very reassuring, but to be honest, no one actually knows what is going to happen. However, I’m confident and know that if something catastrophic were to happen to this company, I would be fine. I’m currently sitting on about 6 months worth of cash for expenses and plan to keep it that way.

It’s a very hard decision because I enjoy the people I work with now and have proven myself to them over and over again. I’ve done the best I could at vetting the new people I would work with, and it’s been really positive, but nevertheless still a gamble.

Sounds like your going to do great with the new job.

I imagine the bigger deals will also be more work and more stressful.

 

[Done-it-again]

Guess the question needs to be how much would it take for you to stay? I would ask current management to for the things you are being promised and see what happens.

 

[BingerFang]

Sounds like your going to do great with the new job.

I imagine the bigger deals will also be more work and more stressful.

1000%

 

[Icky]

The increase you describe here would do it for me.
I've seen study after study saying that those that make a few career jumps over their working lives finish well ahead of those that don't. This includes both $$ and final working positions.
I'm 60+ and been with the same company 35 yrs. I wish I'd looked around more than I did.

Something to be said about being comfortable and having consistency. I'm at 25 years and I like where I work.

 

[King295]

Get it in writing and present it to your current employer. See if they will match.

If one on my team had a better offer, I would appreciate the chance to keep any one of them by matching the competing offer. Especially if it was just something that landed in their lap.

I'll say this isn't always the best idea depending on the industry/role. When I get employees coming to me to price match a salary offer, I generally will either tell them no or agree to match it and immediately start looking for their replacement. That being said, I know that I pay the majority of my people above market.

If an employee feels that they are undercompensated, then they should make the decision to leave. Commonly, they don't understand what the new role requires or what the company's long-term play is. I've seen desperate competitors poach one of my employees due to short-term business constraints only to lay those employees off once they are out of the bind or their long-term plans don't go as anticipated.

 

[Singleton]

This is also a big part of the reason why I’m considering the other position. I’m 10 - 15 years too young for management, and my current role is working with companies less than $50mm in revenue, where the new role would be moving up market, working with more sophisticated companies, $50mm and up, which would be great for my career growth and resume in 10-15 years if I wanted to go into management.

At my current job, I have a ton of responsibilities covering over 100 bankers, working alongside them in the office and the field, coaching them how to look for deals. My phone rings non-stop, and I’m constantly driving anywhere in between El Segundo to San Diego, meeting with prospects and clients, and closing business. It’s fucking great!

The new role would be very similar; however, I would only be covering 15 - 20 bankers working on much larger deals instead of working with 100 bankers on much smaller deals.

My current colleagues across the country in my same role at our company are all twice my age, if not 20 years older, and put in 50% of the effort because they’ve been in role for at least 10 years longer than I have. Their kids have graduated or are graduating college, their homes are paid off, and we all make about the same. Except I live in the most expensive part of the country with a now $670k mortgage and a 3-month-old.

I have been on my boss about a salary increase the last year, and his response has always been “You want more, sell more. It’s not management’s fault you choose to live in Southern California.” Even though I couldn’t live anywhere else to cover this territory, lol.

I’m a very loyal person and have never burned a bridge in my life. But my boss is going to lose his shit if I take this opportunity because the markets I currently cover will become a mess. Part of me doesn’t care because I’ve been complaining for over 2 years about what needs to be fixed and have been told “deal with it” on several occasions. I’ve came to the conclusion that corporate bosses that are 60 years old don’t give a fuck about my 31 year old opinion and I get it… lol.

I’ve spoken with management at the new company regarding 5-10 year plans, and these guys are very well seasoned and have been in my shoes as well as the industry for 30+ years. All the answers have been very reassuring, but to be honest, no one actually knows what is going to happen. However, I’m confident and know that if something catastrophic were to happen to this company, I would be fine. I’m currently sitting on about 6 months worth of cash for expenses and plan to keep it that way.

It’s a very hard decision because I enjoy the people I work with now and have proven myself to them over and over again. I’ve done the best I could at vetting the new people I would work with, and it’s been really positive, but nevertheless still a gamble.

It’s going to be a hard decision.
Only recommendation would be to verify current company is not going to try and enforce a non compete. While those usually can’t be enforced, it can cause some stress.

If you have a mentor, talk to them.