Current Job
- 401K with company match of 3% of Salary
- Personal Pension account with company contribution 5% of Salary
- 3%-5% probable raise this year
- Yearly Bonus of ~4% of base pay
- 20 Minute drive/12 miles to work
- Located in town (plenty of restaurants/bars around)
- Stock ain't going anywhere
- Like the people I work with
- Dislike Company
- Don't dislike work
- Future of division is unknown
- Health care plans getting more expensive
- Lots of Politics
- Constant worry of problems in previous projects
- Doing the same thing for 6+ years
- 15 days vacation
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New Job offer
- 401K but no company matching
- No Pension Plan
- ~8.5% base pay over current job
- Yearly Bonus of ~10% of base pay
- 45 minute drive/27 miles to work
- Located on the edge of town (less restaurants/bars around)
- 75000 stock options, Pre-IPO (but no guarantee of IPO)
- People seem young and friendly
- Company seems okay
- Work seems interesting
- Company is growing (I think)
- Better health care plans
- Small company, < 100 employees
- Start fresh, without having to support previous projects
- Will learn something new
- Sign-on Bonus of $3K
- 15 days vacation
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So, I almost have an offer from the company I interviewed with on February 9th. Everything has been finished, even including the reference checks (which I didn't think they were going to actually do). I've been in negotiation with them regarding the numbers in the offer for the last few days. They officially have not sent me the offer, but I think that's because I expressed concern about the sign-on bonus (and they are revising it). Above are the factors that will go into deciding whether I decide to accept the offer. The Cali company that I mentioned in a previous post is out of the picture.
From a monetary perspective, my current job and the new offer are about equal if the stock options are not taken into account. I'm hesitant to put much value into the stock options since it may be an empty promise.
Although the base pay of the new job is 7.5% higher than what I'm currently making, it's exactly what I told them that I was making at my current employer. So in essence, they are only matching what they believe to be my current salary, which I can accept.
The sign-on bonus is also lower than what I expected, with my expectation at $6-8k. They initially didn't even have a sign-on bonus, but I expressed great dissatisfaction at this fact. They came back with $2k, then $3k, but that's still lower than what I've heard most people have received. I'm hoping that they'll revise the number higher tomorrow.
One of my big concerns is the drive to work. I'll have to spend an extra hour commuting everyday. Over a year, that's about 240 hours, or 10 days driving!!! The added gas cost will be be $750-$1000, not to mention the wear and tear on my car.
So, my options are to accept the offer, or decline and start my job search over again. Any comments?
