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Changing Jobs .... Advice?
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Hi all,

I posted here a year or so ago about a career option I had and received good advice ... so here I go again (in the infamous words of David Coverdale).

I am currently employed in my chosen career field making $X. The company I work for is up for sale and in the past four months has had one possible buyer look and say no and a second buyer that is still negotiating the price. I took this job to help relocate back to our preferred location where my significant other is gainfully employed (tenured). My current company is relatively small, has not paid bonuses for 4 years, and has an "interesting" culture. The company that will buy us is located in a different state (where we will not move). I had a great year, driving sales in my category by 14% (company total was 7%, I manage about half of the business).

I have an offer on the table from a much larger company with several divisions in our town. The total compensation would be a base + signing bonus + annual bonus that would equal what I make now. The position would be a lateral, but with the stated expectation that I am the "Marketing Director in Training." Additionally, based on a good review, my salary should increase by 13% next year, bringing me closer to my current compensation ... not to mention the increase with a promotion to Marketing Director. There are other intangible benefits to the larger company, including better medical, flex time, shorter commute, but I am still giving up a bit of my "base" pay to make the move. A key point of consideration is the opportunity to stay long-term at this company since we are not planning on moving.

I'm not sure what the company buying us will do, but the last two companies they purchased have been moved to the corporate HQ (in the state we will not move to).

I've been looking extensively for about 2 months, and I am down to this one offer. Any thoughts?

Thanks, drn92
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Re: Changing Jobs .... Advice? [drn92] [ In reply to ]
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first off, are you working with an executive recruiter? if so, they need to go to bat for you and insist on getting a higher base.

secondly, a shorter commute is invaluable. how much shorter? that does equal money.

thrid, how much better medical? if it comes out to literally thousands, it could be worth it and not a lateral move after all.

fourth, tenure for yourself. you need to make a move where you can stay for 3-5 years. if you feel you can't do this, then keep looking.

fifth, experience. will you be developing a new set of skills or additional skills that will pay off for you later on? so, if you do take this job, in a few years you could move on to bigger better things--use it as a steppingstone?

lastly, follow your instincts. often times it takes awhile for an acquisition to shake out. the process of buying has to take place, and lots of other things have happen. if you've looked for 2 months and now have an offer, who knows, possiblty you could look another 2 and get a better offer. if you are a strong salesperson, you can make this happen. the last thing you want is to be in a new job where you feel strong dissatisfaction with your offer. you will become unhappy quickly. with that said, you must look at the entire package, not just your base salary. too many times candidates short themselves by doing that. figure out the dollars to the commute, the healthcare, and the experience you'll be getting. if it doesn't make sense, keep looking. if it does, take it (but i would still try to negotiate for a higher base before doing so).

good luck,

kc
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Re: Changing Jobs .... Advice? [kittycat] [ In reply to ]
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first off, are you working with an executive recruiter? if so, they need to go to bat for you and insist on getting a higher base.

No recruiter ... found the job on my own.

secondly, a shorter commute is invaluable. how much shorter? that does equal money.

10-15 minutes per day total ... call it an extra hour per week saved.

thrid, how much better medical? if it comes out to literally thousands, it could be worth it and not a lateral move after all.

Medical would save close to $200/mo, depending on how we structure the coverage between the better half and myself. Maybe upwards of $1800 savings annually.

fourth, tenure for yourself. you need to make a move where you can stay for 3-5 years. if you feel you can't do this, then keep looking.

Company is well-established, known entity in their space with a strong brand equity and product line. They offer both 401k matching and pension. My plan would be 5 years minimum to both take advantage of career growth/development and retirement benefits.

fifth, experience. will you be developing a new set of skills or additional skills that will pay off for you later on? so, if you do take this job, in a few years you could move on to bigger better things--use it as a steppingstone?

Would be able to use Marketing/Brand Management skills in a third consumer products oriented situation. So far I have great results in 2 previous Marketing roles and 2 sales roles prior to the Marketing positions (6.5 years post MBA with 2 companies). At the new company, both the Marketing Director (my potential boss) and the VP have told me that I am the "Marketing Director in Training." There is limited to no upward mobility with my current company.

lastly, follow your instincts. often times it takes awhile for an acquisition to shake out. the process of buying has to take place, and lots of other things have happen. if you've looked for 2 months and now have an offer, who knows, possiblty you could look another 2 and get a better offer. if you are a strong salesperson, you can make this happen. the last thing you want is to be in a new job where you feel strong dissatisfaction with your offer. you will become unhappy quickly. with that said, you must look at the entire package, not just your base salary. too many times candidates short themselves by doing that. figure out the dollars to the commute, the healthcare, and the experience you'll be getting. if it doesn't make sense, keep looking. if it does, take it (but i would still try to negotiate for a higher base before doing so).

The market I live in (Denver) is considered one of the tougher markets to place talent by several exec recruiters I talked with, for many reasons. My preference is to stay in Marketing, and this is one of the better opportunities and companies in the metro area. Benefits look good, they offer flex-time (like I ever work less than 55 hrs/wk), but I'm still having "ego" issues with taking a lower base (even though the total comp is the same). Big concern with current company is that product lines are becoming commodities and the management team is rather short-sighted about what to do. Our major customers are already asking for "direct import" from China, which is one step closer to eliminating us (disintermediation ... my SAT word for the day) and sourcing the product line(s) themselves. We can only innovate so much with much of our current products.

good luck,

Again, nothing but great advice from the ST forum. Thanks for the insights.

drn92
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Re: Changing Jobs .... Advice? [drn92] [ In reply to ]
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but I'm still having "ego" issues with taking a lower base (even though the total comp is the same).

everything you've said is incredibly positive. if you are a good business person, you need to see the big picture. so my advice is to think like a good business mind would, and recognize the opportunity is a fantastic long term investment and take it!
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Re: Changing Jobs .... Advice? [kittycat] [ In reply to ]
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and that advice - given by KC - is right on the money - besides - she is actually an expert in this field!!!

I have a question - if the Current marketing director - is going to be your boss - but you are going to be the marketing director - does this mean that he/she is moving on and transitioning/mentoring you into the role?

Otherwise - it doesn't seem to make much sense - unless he/she is leaving or being promoted.

Either way - the relationship you have with your potential employer has already started - show them how good a marketer you really are and market yourself to them and into the position you want!!!
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Re: Changing Jobs .... Advice? [drn92] [ In reply to ]
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would your annual bonus be based upon your sales? If so how much potential do you have to move the #'s up?

It also sounds if your current company is similiar to my company, with their head in the sand regarding new products, expansion of their product line etc. Does the potetnial employer offer more long term stability with thier lines? Better R&D into new products? Better acquisition of future technology?

A smaller base may make sense if you have to ability to make a significant % increase in the next few years over where you are at or would be.

Brian Stover USAT LII
Accelerate3 Coaching
Insta

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Re: Changing Jobs .... Advice? [desert dude] [ In reply to ]
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All,

Thanks again for the input. I submitted my resignation yesterday ... very tough because I respect my current boss (and have learned a lot from him). However, the opportunity at the new company was too great to pass up.

To answer a few questions ...

In speaking with the current Marketing Director, she indicated that she would not be there "forever" and that she hired me to fill that role. Candidly I hope she does not move too quickly :). The other 2 Brand Managers have not expressed an interest in taking that position. Additionally, there are 3 other divisions that I could cross over to as my abilities and performance dictate. We spoke at length about mentoring ... and she and the VP will fill that role (informally).

The company has a robust product line, with a recognized brand. Of the 4 divisions, mine is the most mature, but they have 2 new products in development that should launch in the next 1-2 years.

Annual bonus is based on meeting personal, business unit, and company goals. It will pay out at 118% of plan this year.

So, two weeks to go with my current job ... then I hit the ground running at the new location!!!

Thanks all.

drn92

PS - My ego is over the base pay thing ...
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