- May 2, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Comparison of Current Position vs. New Offer
### Current Position Details
– Salary: 96k + 10% bonus for 37.5h / week
– Additional Benefits: 5% RSP matching, 3 weeks vacation
– Work Environment: Great team, great manager, flexible work environment, low stress, large company
### New Offer Details
– Salary: 115k for 40h / week with no bonuses offered
– Additional Benefits: 2% RSP matching, 4 weeks vacation
– Work Environment: More responsibilities, smaller startup environment within medium-sized company
## Calculating Compensation per Hour
– Current Position:
– $52.24/h for base salary
– $57.47/h with bonus included
– $60.34/h with bonus and RSP matching included
– New Offer:
– $59.90/h for base salary
– $61.09/h with RSP matching included
## Analysis and Considerations
Upon analyzing the compensation per hour, the total compensation per time spent working is minimal in the new offer. Transitioning to a new team with potentially more stress might not be worth the slight increase in pay. Additionally, the requirement to be in the downtown office twice a week with paid parking could incur extra expenses.
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****** just grabbed a
Current position seems obvious to me.
Keep current job. Assuming you will adjust RSPs, you want to switch jobs for $0.70 an hour?
This is insane that it’s even a thought. Maybe if it was 140k base
I once gave up $12k in gross income and fuck ton more in bonuses to get better nights sleep. I didn’t sleep properly in the 5 months I held that job. Wasn’t worth it.
You’re debating moving over like 70 cents with increased costs and having to go into the office.
Small monetary things aside. Avoid startups. Most of them are absolute fucking kool aid drinking dumpster fires with a lot of promises and absolutely not follow through.
Trust me, i live in Kitchener-Waterloo, I’ve seen my friends go through it. I’ve dealt with these companies as clients of mine. A lot of them are basically cults.
If you love your job and you are making decent money at it, I would never considering making a move, especially into an unsure, unestablished company, unless you are going for at least a 25% pay raise. And with startups especially, if you are getting in early, you should be getting a good wage and equity in the company.
Don’t buy the BS of “you’re getting a chance here to come in at ground level and grow with us” if they won’t give you equity. You are an established professional, they are an unknown, unproven entity. They are more fortunate to get you than you are to get them.
Unless you think there are a lot more growth opportunities, I don’t see how the new job is worth it.
In addition to parking costs, add in the cost of commute – the actual $ cost, wear and tear on car , public transit cost and the time.
If you have a young family,.or even if you don’t – the extra time commuting is time away from family, friends, pets, loved ones … Or whatever the case maybe.
I am trying to see how the new job would be worth it , but I just can’t. You lose more with the new job and take on additional stress.
I’d only take the new job if it’s a stepping stone. After paying for parking, you will come out behind, and have more stress.
I’ve traded more stress for a $30k-ish raise, and the jury is still out on whether it’s worth it. Definitely not worth it for this.
At most, I’d counter offer on this for $135k or higher to make the stress worth it.
If they really want you, they need to offer substantially more. Only exception is if it’s a very different career direction you want for the long term.
Current for sure.
Not worth it whatsoever, stay where you are.
Current one. I wouldn’t make a move unless there is an increase 20% or more on base.
As someone with a higher pay and terrible work life balance, keep the current job unless you need the money.
100% NO to the new offer. I’d stay where you are.
Absolutely keep the current job. Even for just the job security alone.
I refuse to leave a job for less than 10% more pay. You’ve built up a ton of knowledge. Work is way easier at your current job than a totally new job. Why risk the unknown for essentially the same pay?
Current for sure… unless the new offer can give you something better than 115k lmao. Losing way more on commuting, gas AND parking !!!!
Everybody has already given the correct answer, keep current, but EVEN IF you took the new offer, good luck not getting laid off after a year or two. It’s a small-ish startup. Inherently unstable.
Keep the current position but use the new job offer to negotiate a higher salary!
The difference after taxes would be like 800-900 per month. However you’d probably spend a decent chunk between commuting and paying for parking.
Let’s assume you have to fill up twice more per month because of your commute. 70 bucks per tank so that’s 140 right there.
Add another 300 for parking fees in the month (40 per day, 2 times a week per month)
So net you’d be looking at something like 400-400 in costs to just get to your new job. Then there is the additional opportunity cost of your time, plus the fact the RRSP contribution is less.
I would only make the move if you’re able to get to like 130-140 with them. Even then, i took a risk jumping to a smaller startup for a 35k raise and ended up with a horrible manager, terrible work and it sucked the life out of me for a year before i eventually got laid off with a bunch of other employees.
Long story short, there are easier ways to make 400 bucks a month. Good luck!
Figure out where you want to work where it is beneficial for your long term career. Pick that one.
You gave the answer yourself when you did the math. Most of the people jump when the difference is at least 15-20% depending on the base slab they are in.
Your current arrangement is preferrable, but you’re allowed to ask the other company for more money. They don’t make their best offer on the first offer.
The new position sounds like it could have more opportunities for growth and experience but it really depends on the field you are in and where you want to end up. If you feel stuck or you have topped out at your current position there might be a good case to move even if the pay doesn’t make sense. This is something you have to work our for yourself.
The pay doesn’t justify any kind of move by itself, as it’s essentially no higher especially if you are taking advantage of the 5% RSP matching (as you have calculated). There are a lot of surprising ways jobs can be terrible, and switching is a chance to roll the dice on all of them. I’ve quit for more money before and found myself desperately seeking an exit strategy only weeks later when I fully realized what a clusterfuck I’d signed up for.
On the other hand, large companies can become a golden cage once you top out your sub-specialty pay grade and hit that ‘become a manager or stay where you are’ threshold and don’t want to make HR your career.
Maybe ask the new position for another $20K to make it worth your while?
Sounds like you currently work at Bell with that structure?
Current one for very obvious reasons.
How old are you and how much career do you have left? Does the offered job have good growth prospects? (Can be the case with a smaller startup, but could also be dangerous if the business isn’t a going concern) Do you *want* career growth? (Totally okay to not want that, or not want that right now).
I’ve found that candour tends to be my friend in situations like this. If you don’t care that much about career growth (and even if you do), don’t forget that *they* reached out to *you*. If you’re in a comfortable place with a great team and great boss, they should be offering enough for you to take the risk. They are offering you a 1.2% increase ($61.09/60.34). If it were me I’d probably tell them my current salary (and round up by 10-15%) and nothing more. They’ll either offer you more or realize they’ve wasted their (and your) time.
New role is not worth the bump in pay
Mannn dont do it!!, speaking from the same exact experience 6 months ago, had a fully remote job paying 80K and a company reached out to me for 100K (hybrid) 2 days at work.
I made the move and everyday i tell my self i regret it, wish i could go back in time and slap my self.
The new company i moved to suddenly after 3 months forced us to start coming full time – so now i have a 2 hour commute (hamilton – toronto)
now i have to move closer to toronto to work, adding way more costs to my life
so now i actually earn less than i did before because i now have more overhead that costs money (i.e gas/moving/food when outside)
DO NOT MOVE. unless you have a good idea of what youre getting into but you wont because you will only know when youre in.
only move for 40k+ increase in pay (and or) more work life balance
Id stay in the 1st option. Considering that you have a great team, manager, flexible work environment and low stress.
Additional Higher income = Additional taxes to be paid
5% RRSP is way better to 2%
The BEST thing is
Money can’t pay happiness when you have a work life balance.